You got your wish Russ.....And what was that all about at the end? Pure manipulation if there ever was one. I still believe as others here do that a deal is in the works with a large oil concern? Sometimes in life when it isn't working get a new deck. Shuffling the old doesn't get it.
Both up XCO getting killed. Again. I think it's pretty obvious this company is the dog of the group in a sector that has been beaten to death. Shorts are all over this company again today. Smelling blood.
$30 IMHO is a stretch but we all know with the days constant referrals to oil reaching historic supplies the price will continue to drop which is manna from heaven for the airlines. Once oil has bottomed I agree 100% the airlines will take some serious s-term gas. In share price that is.
LUV is trading directly opposite to oil in the last 6 months or so. Just like the rest of the airlines. Oil is probably going to hit new lows. Once that is reached get out of the airlines for a while anyway. $38 the new low? We'll find out shortly I would imagine.
Wait until these lawyers start doling out the very disturbing insiders e-mails. There are a many very nervous ex GM fat cats sweating bullets today.
Citi sees U.S. government bans and limits on crude oil and condensate exports as a major problem. "In the end, there remains an inevitable day of reckoning when U.S. crude production cannot escape its North American confines, pushing down U.S. crude oil prices and endangering production, without widely liberalized exports," analysts explain in the report.
Citi predicts that the pressure of falling oil prices will eventually lead to drastic increases in U.S. crude oil export allowances. Citi expects the U.S. to become a net exporter of crude oil and petroleum products by as soon as 2018.
Maybe, perhaps, but I don't think so. Read up on it. He was willing to allow it but the main players wanted that export option which Obama refused. The GOP jumped all over this for after all the Koch Brothers own $100B worth of oil sands in Canada. And how are they going to get it out of there? FedEx? I don't think so.
They would complain that this would raise oil and gas prices. And their costs to fuel that newly bought truck/SUV's. But the underlying worth would be our fracking industry would survive and continue our push to energy independence. And in the long run would benefit this country immensely. I mean who is not sick and tired with the Middle East over the lat 20+ years. We've blown zillions over there. Zillions for what? Oil, oil,and more oil.
GS recently wrote a best case scenario if Pres Obama was to lift this antiquated export ban on oil. Their conclusion was the fracking industry would gain the most. I know they're are discussions ongoing by a few of our Legislators in DC right now. Hopefully some good will come form this????
As has been described here the perfect storm is wreaking pure havoc on XCO and others. We couldn't be in a worst case scenario right now.
They can in fact get a real CEO who'll make the right moves starting with a merger. They indeed have some valuable assets so you use them to your advantage and allow both parties to survive another day. The airlines did it (I made much progress when AMR went BK and UAL also) the steel companies did it and even some of the auto companies followed the same path. And guess what? They're still alive and kicking.
We're all reading now how Cushing is loaded to the brim and that much of the price supports in oil are future related in that the big outfits are creating the demand for oil only to store it and use futures to lock in profits way out into 2017. This trade will lose its luster though once supply space becomes more limited/costly. Until then it looks like more of the same unfortunately for us here.
I agree, he's posted many informative and to-the-point ones here. Too bad we're not talking in a more upbeat mood.