In 50 years China will be the US of today, the US will be UK of today, India will be China of today. and UK will be italy of today. Since Reagan the US has allowed the greatest redistribution of tax payers asset in American history, from the tax payers to corporations, all borrowed. Those corps then took the money an invested it overseas. People will look back on the last 30 years of American economic history and realize that George H W bush was correct calling Reagans supply side economic policy 'VooDoo Economics'
who is next..Japan and US already there and expanding.. GM and Ford need to step up to match Audi's investments in electric cars otherwise they will be eaten by all electric car industry..
republicans in congress want to repeal the law that prohibits oil exports so that US producers can ship their oil oversea and sell it at a higher price. Also US imports 40% oil it crude. Most all of it from Canada, Mexico and Ven. OPEC only accounts for about 1 MMBOPD. Hurt OPEC? hardly. Oil is a global commodity, it doesnt matter where its produced or sold, all that matters as far as the price goes, is what a willing buyer will pay a willing seller for the last barrel available..
The us will eventually stop buying the remaining crude import from saudi to support local producers. Thanks pickens
Sentiment: Strong Buy
Looks like a descending triangle with a baseline at 20.53
The breakout, either up or down should occur soon. It usually happens before the apex is reached which is due around Dec 31.
Imagine when they resume shipping oil, how much more the price will fall. If Iran also comes on line, look out below 50 a barrel.
suicide mission price of Oil falling not going up fools
Got a monster pick three days ago from Ultimate Stock Alerts (find them in google).
Bagged $450 in 20 mins and I am buying more!
RIYADH, Saudi Arabia (AP) — Saudi Arabia's Cabinet on Thursday endorsed a 2015 budget that projects a slight increase in spending and a significant drop in revenues due to sliding oil prices, resulting in a nearly $39 billion deficit.
In a sign of mounting financial pressure, the Finance Ministry said the government would try to cut back on salaries, wages and allowances, which "contribute to about 50 percent of total budgeted expenditures." That could stir resentment among the kingdom's youth, who make up a majority of the population and are increasingly struggling to find affordable housing and salaries that cover their cost of living.
I think investors are trying to find the bottom.Note the moves the last week.Im currently using USO for short term trades..Im out right now and will try to buy around 20.75.
It’s showing up everywhere. Take Samson Resources. As is typical in that space, there is a Wall Street angle to it. One of the largest closely-held exploration and production companies, Samson was acquired for $7.2 billion in 2011 by private-equity firms KKR, Itochu Corp., Crestview Partners, and NGP Energy Capital Management. They ponied up $4.1 billion. For the rest of the acquisition costs, they loaded up the company with $3.6 billion in new debt. In addition to the interest expense on this debt, Samson is paying “management fees” to these PE firms, starting at $20 million per year and increasing by 5% every year.
KKR is famous for leading the largest LBO in history in 2007 at the cusp of the Financial Crisis. The buyout of a Texas utility, now called Energy Future Holdings Corp., was a bet that NG prices would rise forevermore, thus giving the coal-focused utility a leg up. But NG prices soon collapsed. And in April 2014, the company filed for bankruptcy. Now KKR is stuck with Samson. Being focused on NG, the company is another bet that NG prices would rise forevermore. But in 2011, they went on to collapse further. In 2014 through September, the company lost $471 million, the Wall Street Journal reported, bringing the total loss since acquisition to over $3 billion. This is what happens when the cost of production exceeds the price of NG for years.
Samson has used up almost all of its available credit. In order to stay afloat a while longer, it is selling off a good part of its oil-and-gas fields in Oklahoma, North Dakota, Wyoming, and Colorado. It’s shedding workers. Production will decline with the asset sales – the reverse of what investors in its bonds had been promised. Samson’s junk bonds have been eviscerated. In early August, the $2.25 billion of 9.75% bonds due in 2020 still traded at 103.5 cents on the dollar. By December 1, they were down to 56 cents on the dollar. Now they trade for 43.5 cents on the dollar. They’d plunged 58% in four months.