I, for one, think this is a very smart move.
Zell knows oil is not dead. The need for energy is growing at too great a rate. Even with all the renewable energy being installed across the world, oil and coal will still continue to grow as the grow rate, overall, is larger than just renewable can provide.
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I'm not catching that fallen knife, but I'm also not a billionaire, so it's hard to argue against him buying in the depressed space.
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