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.
Has been for moths sir. My broker and I had major battles over this selection of his. Where's he at now? He retired.
I agree 100%. He got caught. And obviously it happens to the best of them. No buyout IMHO with this debt load. No sudden spike in NG either when we're flaring off over $100M annually in America alone. There's just too much NG in the world as there is in oil right now. Oil descending could very well serve as XCO's and others demise. Very painful indeed when you think we could have sold at $9.
Oil is down today and there are MAJOR derivative plays (short orders being formulated as I type) in the oil markets. There are major bets going on in the last 3 days. Believe me. That cancelled second offering isn't helping either. The thinking is there weren't enough buyers. In other words like willy has stated why buy now?
They're in the derivative market so as to service their debt is akin to using one credit card to pay off the other.
Down 33% YTD. Down 59% lat year. Down 21% 2013. Say what?
The article was hard to read and digest for sure. However a direct opposite article within that group was less difficult to read. How long have you held XCO if you don't mind me asking?