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🩴 “Stilettos or Furkenstocks?” — Birkenstocks’ comfy IPO. Bed Bath & Beyond’s resurrection. Big Oil’s electric slide.

The Best One Yet

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The Oil Giants' Quarterly Earnings

Last year oil companies were quietly fist-bumping as high gas prices meant record profits. But this year with gasoline prices down about 25% big oil profits were slightly less big. The Western world is pulling an ozempic and trying to cut oil out of their diet. Big oil makes money today because you have to buy gasoline, but it will make money tomorrow even if you go electric.

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