but it owns the Suez Canal and oil tankers are being rerouted elsewhere because of turmoil in the country. Hence higher oil/barrel prices worldwide lately. International oil service provider SLB had a nice little 5% gain Friday..........
I read where Egypt produces a bit less than 1% of the world's oil. Also read our storage is setting records for amount stored. ......most since 1931.....Cushing's filled up. Oil is being stored in tankers. I also saw how much middle east oil we import.......not nearly as much as most people think. I think we have the same old, same old problem......not enough refineries. I believe a refinery is planned to process some Bakken oil....Minn?
I saw where SLB did okay,,,,,,,Baker Hughes not so good. Haven't heard about HAL. I don't own anything in energy 'cept a bit of PER which I bought after the last distribution for around 13 and change. I'll probably sell before long to avoid the K-1. I hate MLP's.
I received a nice check from the IRS for 34 big ones.........I won! Ha! Ha!.
I'm looking to buy some ARTGX with it, I bought my first batch in Jan......it looks good to me. Already have too much POAGX and HSCSX, YACKX and YAFFX.
btw, a guy on VF posts the gasoline usage every month.......seems like the demand has been going down for several years.
Oh yea.......I don't worry about Detroit....I figure the Chevy Volt will save it.:)))) I think Lancerd lives in Mich........he can help bail out the city.
Checked out ARTGX. Tremendous performance. And O'keefe and Sandra have Morningstars endorsement as top stockpickers. Another fund with a nice flexible small asset base. 537 million. This fund has slightly outperfomed DODWX , which I own. DODWX has a much smaller expense ratio, but then their asset base is over 3 billion I believe. I have to be careful about owning to many funds. (IMO too many funds replicates indexing eventually) But if ARTGX decides to close like MAPIX did, a heads up will be appreciated. By the way, I see where MAPIX now has over a 4% yield. Anyway, glad you like POAGX so far.
Egypt produces around 570000 barrels of crude per day. Unfortunately for them, they consume about 670000 barrels per day. From what I have read, I understand a very high % of young Egyptians make the equivalent of a few bucks a day. No wonder they keep having revolutions and coup d etats. I shall examine ARTGX, and yes I own SLB, POAGX, HSCSX recently, and YAFFX. I have been looking at MLPs like Kinder Morgan offers. But then I have never owned a MLP and hate extra tax filing like the aforementioned K-1s. IMO SLB is the "TESLA" of the oil service companies. As for Detroit, I suspect some pols there will ask for a bailout from DC, but we will see.