Listen guys and gals,
Don't panic. I am down 60% on original investment in this company and that really hurts. But the future lies where the future is (Thank you Yogi).
Picture this: Barack bin Osama has slapped Isreal in the face by reaching out to Al-Arabia TV who now believes we are weak. Isreal has elected Netanyahu who is no pussy when it comes to self-preservation. If Iran is close to mounting a warhead on a rocket aimed for Tel Aviv, Netanyahu will be pre-emptive in taking it out - without US. Iran will not hesitate to launch missiles into the oil fields of Iraq, Kuwait, and Saudi Arabia, if that happens.
Barack bin Osama will sit on his butt because, China controls US foreign policy now through purse strings (thanks to Stimulus Plan debt, etc). Hillary went there to kiss ass and get her marching orders. Russia making moves to control supplies by threatening former Soviet states, too.
Canadian oil reserves will be all we have access to. Demand will propel Canroys to the moon. You won't have to wait four years either.
Pray for peace.
I guess you would make the same arguement for Alaska and offshore drilling? We won't drill off shore in international waters off Florida and California for the so called enviormental reasons so the Chineese moved in and are drilling off our shores!! Shell has a stake in keeping oil high. Alaskan oil is sold to Japan and we buy oil on the open market. You can buy the story if you want but everything I've read say we now have the technology to drill in shale with one shaft and diagnal boaring can cover very large areas keeping cost down near 20% of historical estimates.
You and me both on the capital "loss"...
I have blocks that are way under water also... but I have been buying on dips, that plus the discounted DRIP has put my cost basis down to low teens...
SO to put this in perspective, even with the reduced div I am still making 8+% return on my cost basis ... where else can you get that... don't need the cash for a few years yet...
You are wrong .....I am involved in that region. There is no technology that makes it work at present or anytime soon. The Oil companies have owned the leases for decades ...All open to drilling with little production. Estimates have concluded it will take 20 yrs to achieve 1 Million barrels / day production. The US alone consumes 20M / day now....
Only Shell Oil has gotten anything to work recently ...on an extremely small scale. Although not profitable to scale up.
Canadian oil reserves will be all we have access to.<<<
Well that's an interesting tail of terror. I think PGH will be fine without all the doom, and let's not forget there is still Brazil..
The HAL board is a real "hoot"...
Try throwing a bomb one side or the other, then switch in mid post, it is great fun...
I sometimes go to the board just for a good laugh at BOTH left and right wing extremists...
I am a realist, well-balanced and not intimidated by pussies pushing white bigotry as the cause of every thing they don't agree with.
I did not vote for the empty suit sitting in the oval office. Too well-read to fall for hope and change as building blocks for the future. Those that did vote for him will be hard to find when the new wears off.
Check back in six months.
Until then, I recommend some solid reading:
Yes it is painful to wait patiently, but I am. I had bought 300 shares which are now nearly 350. I believe that Oil and Energy will come back, you are getting paid to wait. It appears late to sell. By holding any commodity (and these trusts pay dividends) you will get the benefit of inflation protection and currency.
I am bullish.
I was sorry to hear that you are down a whopping 60% on your PGH investment.
Given your remarkably strong grasp of the geopolitical landscape, it's hard to figure why your investment results have been so disastrous.