my case for oil.

My case for oil.
Investment in oil production globally is down 2/3rds from 10 years ago. We are transitioning to green energy which is great but not much incentive to invest in oil knowing it's slowly being replaced.
Russia might be cutting. Whether its intentional or it's because they don't have the western parts they need is irrelevant to me.
Saudi Arabia might be cutting. They don't like oil under $70, and they are trying to build that big dumb city Neom.
The strategic petroleum reserve is being refilled at $70 or lower. It's at a decade low.
We are currently around $75 or $80, not much down side if you think $70 is the floor.
PEs already low. PE compression hurts high PE stocks way more than low PE stocks.
Con: if economy blows up then oil goes to $40. But I still see full employment and oil demand pretty close to all time highs. $Camber Energy(CEI.US)$ $Imperial Petroleum(IMPP.US)$ $Occidental Petroleum(OXY.US)$ $Chevron(CVX.US)$ $Exxon Mobil(XOM.US)$