In the 47's now. Another 10% drop. My 45 guess is almost there. But the Saudis could push it way lower if they wish. And they look like they will take oil into the 30's. So 45 will just be the first stop if this continues.
Maybe will now be clear to the doubters! The dividend is ABSOLUTELY SAFE and will in fact be INCREASED on a regular basis. Period and exclamation point! LONG COP!
Sentiment: Strong Buy
Today looked like it was going to be ugly and then we rallied into the close.......Don't blame folks for not willing to put a toe in the water especially after the last failed attempt around 52......We're marking time here inspite of all the calls for under $40 oil.........
If you have NEGATIVE $225 Billion in accounts by hot money, this is the most leverage in history, BY FAR, to borrow $505 Billion on margin, meaning they have to unwind "something" BIG when this craters, maybe currency swaps, you figure it out before you lose more money folks.
Sooner or later something or someone will pull the plug and then whoosh!
Accumulating cash for that day.
Sentiment: Strong Sell
From a DEC article
By STANLEY REED, DEC. 19, 2014
Now, with prices for Brent crude far below that level — at $60.44 on Friday — the economics of finding and developing those deepwater fields look more daunting. The British oil giant BP, a North Sea leader, recently sent letters to recruitment agencies in Aberdeen, saying it would have to cut wages up to 15 percent for any new oil-worker contractors.
The industry’s deteriorating economics threaten to accelerate the long-term decline of production in the British North Sea, now about 1.4 million barrels per day of oil and gas, as new projects are delayed and exploration budgets are cut.
Continue reading the main story
Continue reading the main story
Similar forces are playing out in other parts of the world.
A big cause of oil’s falling price, besides a slow economy in many parts of the world, is the previously high price. Years of $100 or more for a barrel of oil encouraged the development of oil from shale rock deposits in the United States, as well as other new sources elsewhere, resulting in big increases in the global supply.
A recent study by Goldman Sachs estimates that many large new oil and gas projects being planned around the world will not be commercially viable with oil at $70 per barrel.
Goldman's prediction was $45 a barrel. Wells fracked lose 45% of their yield after 12 months, tar sands is a financial disaster. Off shore rigs are all losing money. Opec will adjust production this fall. To much pain for some members. Political stability is a risk. China will stimulate their economy. More cars are on this planet every day.
we need peace but the only way to deal with terrorists is to kill them not negotiate. this is a dead money investment for a while
t_r35 to address both your latest postings to both igurumo (have no idea who he/she is BTW) and myself. I've absolutely no clue where your coming from are what your trying to say.
I served in USMC. As for your 'enthusiastic tools' it's a mystery probably only to you.
Sir/Mam I wish you well!
Wow, If Dougy is accurate,,,,"TIMBER" is a comin', what will be the catalyst,,,possibly
another peg rate change from China?...No matter where or when,,pretty clear
Yellen is standing pat "for the foreseeable future"....Cash is king