agreed - though what your not including is what Trump is likely to do to encourage a better return via the WTI - all he needs to do really is give good tax breaks to refiners who set up to process the shale product rather than the gulf state's. If more refiners are set up to process then demand internally will push out the arabs anyway.
Its going to be an interesting chess board come Feb - Trump I think will go hell for leather - he doesn't seem interested in history ie post WW2 - just about what can the world do for the US - when you get your head around that change in mindset then you see what all the fear was about that pushed gold the way it did.
He's keeping his head down till Obama leaves but you can see the writing on the wall..
Bought today, page-84
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