Here is why. Obama is sending sage grouse from Wyoming to North Dakota to eat mosquitos that carry the west nile virus. LOL The oil will have to shut down for a few months so the birds can breed. They do this to us in Wyoming every year. What will this cost all companies working in ND? How many jobs will be lost? Will Obama be pushing harder on green energy? Yes he will.
There is a silly, yet malicious, quality to your scapegoating. It might be a good idea to interact with people who don't simply mirror your own belief system. Try a pub in Central London or visit Harlem, over by Clinton's office, anytime between 2 and 3 pm.
He has been saying 5 bucks for quite a while. Not sure about the reasoning, but I have held off buying too....
My take is that the BV shows 9.82 or so, but if you back out 82 mil in Goodwill spread over 40 mil shares, that takes you down to around 7.70. So, maybe down around 8 bucks, it is pretty interesting.
Then again, if the bottom really drops out, a lot of this equipment is mission specific stuff that gets shelved or written off. PDS, a driller, just announced they are writing down a bunch for for older rigs. And the stock went up. So, you never can tell.
My sense of it is, that oil and gas have another leg down (I have been thinking this since summer, and have been wrong). When you see articles about the boom going bust due to prices, and the Bakken and Permian economies deflating, then buy. Just pure bloody minded contrarianism.
They did just spend 40 million on some properties in the Bakken, so they keep investing.