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Exactly the Point on Oil
If crude oil can double in value with the world in recession, just imagine what will happen when demand picks up. Prepare yourself.
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Don’t believe the barrage of short-term noisemakers. Some experts believe supply is running far ahead of demand–but this is an extremely short-sighted view that fluctuates fast and seems to be ending as oil and gasoline inventories begin to get tighter. Understand that the oil producers don’t want prices to soften.
(snip)
We asked our own version of "Deep Throat," a gentleman who has devoted his career to making a fortune in the energy markets, and we want you to know…
12Jun2009 | The Real Deal | 1 comment | ContinuedU.S. Nuclear Power Sector Poised to Rebound
It’s been 30 years since the accident at Three Mile Island effectively killed the commercial nuclear power industry in the United States. But strongly escalating concerns about global warming, growing worries about so-called “Peak Oil," and greatly improved nuclear-power technology are combining to make nuclear power an increasingly alluring option in the United States, Money Morning has been reporting.
The 30-year anniversary of the Three Mile Island accident – which occurred near Harrisburg, Pa., in the in the predawn hours of March 28, 1979 – has obviously resurrected some of these discussions. But thanks to these deep-seated and growing concerns – virtually…
30Mar2009 | Money Morning | 0 comments | ContinuedThe Ghost of Crude Oil Futures (Part 1)
Most people have heard the phrase, “it takes a big man to admit when he’s wrong”.
Well, I’m about 5’9”, and I don’t believe that people should be exalted when they do something that they’re supposed to do. It doesn’t make you a big man, it makes you honest. You’re supposed to be honest.
I’m going to do something profound. Something most people should do, particularly those in a position or profession of dealing out commentary, suggestions, and advice – especially when there’s money involved.
I’m going to tell you I was wrong about something. And I’m going to do it without…
26Dec2008 | Oxbury Research | 0 comments | ContinuedOil price limbo and Canada’s oil sands: Part II
Energy stock picks provided; Oilexco, Oilsands Quest discussed
[Editor’s note: To read part I of this interview, please click here]
Based in Calgary as BMO Capital Markets’ oil and gas analyst for Canada, Mark Leggett shares his home province with what’s called Canada’s “trillion-barrel tar pit.” Alberta’s oil sand deposits reportedly contain about 1.7 trillion barrels of bitumen in-place, comparable in magnitude to the world’s total proven reserves of conventional petroleum and second in volume only to Saudi Arabia. The catch? It costs up to $25 per barrel to extract oil from oil sands, compared to $2 to produce Saudi crude—numbers that…
Oil price limbo and Canada’s oil sands: Part I
What does the future hold for this trillion-barrel tar pit?
Based in Calgary as BMO Capital Markets’ oil and gas analyst for Canada, Mark Leggett shares his home province with what’s called Canada’s “trillion-barrel tar pit.” Alberta’s oil sand deposits reportedly contain about 1.7 trillion barrels of bitumen in-place, comparable in magnitude to the world’s total proven reserves of conventional petroleum and second in volume only to Saudi Arabia. The catch? It costs up to $25 per barrel to extract oil from oil sands, compared to $2 to produce Saudi crude—numbers that don’t work well with oil at $50 a barrel.…
Global Investing Roundups
AT&T Disconnecting 12,000 Jobs; Credit Suisse Announces 5,300; Capital One Puts Chevy Chase in Its Wallet; Argentina Announces $3.9 Billion Stimulus, Jobless Benefits at 26-year High; Dupont Cuts 2,500 Employees; Williams-Sonoma Beats Estimates; Oil Falls 5%
- AT&T Inc. (T) said it would scale back 12,000 jobs, about 4% of its workforce, between now and the end of 2009 to fight "economic pressures, a changing business mix and a more streamlined organizational structure." It will also take a severance charge of nearly $600 million for the fourth quarter, Reuters reported.
- Credit Suisse Group AG (ADR: CS) will scale back its workforce, eliminating 5,300 workers,…
Supply not demand is the issue
Our planet is facing a severe energy crisis, however not many are paying attention. I find it amazing that rather than focus on the very real threat of ‘Peak Oil’, the majority of investors seem to be worrying about the ongoing credit crisis.
My comment: I’m not surprised as the sheeple media overload and lack of critical thinking by "analysts" is nothing new.
Over the past few months, the price of crude oil has dropped sharply due to forced liquidation in every asset-class. Unfortunately, this decline has convinced everyone that the oil ‘bubble’ has burst. Every day, we hear about the…
18Nov2008 | The Real Deal | Comments Off | ContinuedCrude Oil Futures Post Record Gain as “Peak Oil†Expert Calls for Rally to $500 a Barrel
Crude oil futures zoomed more than $16 a barrel yesterday (Monday) – and traded as high as $130 a barrel – thanks to a steep decline in the U.S. dollar and speculation that the Bush administration’s plan to bail out the financial sector might actually jump-start the U.S. economy.
The record single-trading-session gain came on a day when CNNMoney.com republished a brand new Fortune magazine story in which author and noted “peak oil pundit” Matthew R. Simmons stated that crude prices were headed for $500 a barrel.
Story continues below…
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Global Oil Problems
Western Oil Woes
Western nations — the U.S., in particular — are now experiencing the bow wave of a profound change in the current and future availability of oil. According to recently published data, oil output from all major Western oil companies is on an ominous decline trend. Exxon Mobil, for example, announced that its average oil output has fallen by 614,000 barrels per day in 2008.
Western oil majors like Exxon are finding it harder than ever to identify new prospects and successfully complete new oil projects. This comes despite the fact that the oil industry is flush with profits from…
8Sep2008 | The Penny Sleuth | Comments Off | ContinuedSecond thoughts about the Pickens Plan
I’m rapidly losing faith in T. Boone Pickens and his mission to change the tenor of the idiotic debate over energy in this country.
I already expressed mild misgivings the week he unveiled the Pickens Plan. But I gave him points for trying to get us out of the quagmire of a false choice between drilling on the one hand and conservation/alternative energy on the other. Commenters responding to my post seemed jazzed by the idea that zero taxpayer dollars would be required.
Ah, but it’s not that simple.
From the Los Angeles Times, an opinion piece by Anthony Rubinstein appears to blow…
4Aug2008 | Desidooru Saloon | Comments Off | Continued
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