to stymie USA production and it will work unless thwarted..and so far no effort has been put forward to thwart OPEC. I would do two things, lift the ban on crude oil export and I'd also put an escalating tariff on imported crude oil at an $80 WTI thresh hold. If a similar situation were occurring in wheat, corn or pork bellies we'd see all kinds of protectionism take place for US producers....but for oil.....not so much. Oklahoma is anticipating the loss of 26,000 jobs in the near term directly related to the downturn...I would imagine Texas, and the Dakota's will be impacted to a much greater degree. It would be nice to see preemptive actions rather than reactive actions after the harm has been done....but our politicians tend to show up at the scene of the wreck rather than preventing wrecks. On the bright side, as the price falls production will soon follow. Many stripper wells will begin closing in as the cost to operate will exceed revenue generated. Once closed in many can never be economically restarted. During the 90's an estimated 200,000 stripper wells were shut in when oil prices plunged and gave us the 79 cent a gallon gas...it was short lived but the damage was done. OPEC realizes the USA is a patsy when it comes to energy and each time they have been in control until they achieve their goal...and it looks as if it'll be a repeat. Politically they have picked perfect timing as they have disarray between the dems and repubs and a lame duck leader....so little chance of any bi-partisan effort to protect the US energy market. So ...I haven't left....didn't sell my AXAS, just aware of an ugly situation that I can only watch and wait. Does anyone realize how many of Bob and gang's stock options are now under water ?
There's a whole lot of folks feeling the pinch, like the $5 secondary folks. So I ain't happy, but there are others who are worse off....still a good stock, and a good company...just gotta let time and events run their course.
AXAS is well positioned and Bob is doing the right moves. If reducing capital spending from $200 million to $54 million isn't a clue to the havoc OPEC is wreaking...then folks are blind. Watch what happens once the carnage has played out. OPEC is currently taking some short term pain in exchange for long term gain. It's called predator pricing...use your size and volume to snuff out competition...once you've buried them you will again own the market and pricing power. I still have my AXAS shares..but unfortunately they are shelved as this appears a longer term cycle than I had hoped for. I'd like to be optimistic that our politicians were better than they appear....but that's rather naive. Looks to me like the future and the cycle timing is totally at OPEC's discretion. JMHO GLTA
a liar and and a lunatic. Bilked the taxpayers out of millions while perpetrating frauds. Claimed he was a CIA spy working on secret missions in Pakistan and Afghanistan while just dodging work for months at a time so he could bicycle around DC. Google "Massive fraud at the EPA".....there's the facts on the ineptness of government agencies. Facts over fiction.
It's best to watch the moron at the wheel than focus on morons who wrecked car the before.
Sounds like we should attack China before they can make things worse....oops...they have don't have to do anything for the next 16 years. Oh well, they can keep buying and burning our coal ( which is now even cheaper ) since we can't burn it anymore. I mean seriously...how could China cause global warming, they're on the other side of the world.
Dems win mandate by getting trounced by republicans....LOL..LOL now there's a winning strategy......LOL LOL
most folks would argue when you're in a war zone...you're in a combat role. With al Nusra making a coalition with ISIS I would suspect the outlook will deteriorate further. Well we can all just watch Russian bombers flying around in the Gulf of Mexico to distract us from the fiasco's in Iraq and Syria. I'm sure Kennedy could not have done any better....LOL...LOL
Of course the lack of evidence is why ? By mere coincidence everyone's e-mails are gone, even though federal laws mandate they are to be archived. First she takes the fifth, then the e-mails all vanish.....nahhhh nothing fishy there at all. You do know that Malik Obama was granted tax exempt status for his "Barrack H. Obama" fund by Ms Lerner in one day ? Not bad for a non citizen who worked for the Muslim Brotherhood.
who swallow every lie...what does it matter. In what should have been a historic period in the presidential line-up...instead it's been a show of division, elitism, and bigotry.
I'm kind of sick of defending Sunni interest in the middle east. By the way Hillary was given a $500,000 necklace by the Saudi king and the Saudi's are the largest contributor to the Barrack H. Obama fund...appears both parties are equally dirty in the influence selling category. My view is sunni or #$%$...= muslim = in the end game US are infidels...period. The world view seems to be the USA is an imperialist nation. I think we should live up to the definition...if you defeat them...own them. Kind of stupid to spend billions, waste lives of our youth and then spend billions to rebuild the defeated. That's almost as ridiculous as legalizing illegals by the millions every 10 years or so and thinking that will stop the inflow. JMHO GLTA
Baker Hughes oil rig count dropped by 14 last week, most notably in the Eagle Ford region.
It'll take a while but cause and effect will always prevail.
It's kind of ironic that the "greenies" lack of support for the carbon based energies is actually beginning to work adversely against their goals. Electric vehicles and even ng vehicles now have worse economic paybacks. We'll see what transpires but the republicans don't have 2/3's majority and someone else does have a veto pen. It's looking like another two years of showdown at the OK Corral. Kind of like having two sailors fighting over the ships wheel when there's a broken rudder. This country seems bound to stay mired in social issues and just lets the real wheels go un-greased until a wheel falls off and then it's the blame game. Really don't anticipate much change. JMHO GLTA
and production numbers are controlled by mostly dictators. Whereas US producers aren't organized and can't lawfully attempt to control pricing and or production...we have anti-trust laws. To worsen the situation US producers can't presently export raw crude. The Saudi's are fully aware of the advantage they hold. They have lowered their price to the US while raising their price to Europe and Asia. The Saudi's are trying to maintain a supply glut in the US and they're getting the job done. With only refined products allowed to be exported and limited refinery capacity in the US...with the prohibition on raw crude export we get a build in inventory. We had no energy policy in the 70's when OPEC shut off the supply and once again we have have no energy policy to thwart OPEC actions. Two actions could that would counter the Saudi's actions would be for the US to restrict imports of crude based on US inventories and or lift the ban on raw crude export. We could also just maintain the status quo and let foreign interest wreak havoc on our domestic energy sector...and most likely that will be the outcome. JMHO GLTA
by law to apply. For $289 a month she got a plan with a $6,000 deductible and even at that threshold level it doesn't go to full coverage. Then after receiving copies of our !040, W2's, drivers license, ss cards and birth certificates....we are still be challenged as whether we are eligible. We are both US born citizens, and I'm a US Army veteran.
So we were forced by law to apply via threat of IRS penalties, we apply and send all the paper work and then get challenged as to being eligible. We have now paid $289 a month for just about a year for nothing but a catastrophic insurance policy at best and hopefully we'll never find out how lousy it is by meeting the $6,000 deductible. I made colored copies of our drivers licenses, birth certificates, ss cards, marriage license , w2's, 1040's and then went to the US Post office and paid $9.60 to have one inept government agency send something to a new inept government agency. I maintained copies and noted on the copy to them it was the final attempt on our part to lawfully comply.
I seriously doubt we are alone in our experience with Obamacare. Kind of ironic that to vote...I don't have to show or prove anything. Ironic also that a government that sends my SS check monthly seems to not know I exist as a citizen when it comes to healthcare. I do get a lot of good laughs listening to the wife talk to the morons on the phone....and indeed they are morons.
Now if you have Obamacare and it went flawless for you...kuddo's. I suspect many have undergone our experience...so don't try and tell me it's a "good thing"...it's PATHETIC.
and spoon next time, he no master of chopsticks"
By the way...1st qtr 2015 should exceed 8k boepd which is 100% gain year over year. JFYI
and a mid-point guidance of over 9K boepd for 2015. 50% + gains on production is pretty good growth and the forecast is just as good. Some want to hype up the numbers but the numbers are pretty sweet as they are. Bob and gang have just as much riding on stock valuation as anyone in this room so I would discount any lack of motivation on their part. Pound for pound AXAS is performing as good and in most cases a whole lot better than any other E&P's. I'very satisfied with 2014 performance and 2015 guidance looks great. As to the sector being out of favor....it is what it is. it may turn quickly it may not. Maintaining status quo here. JMHO GLTA
Dem's strength is dependent upon an ignorant base...they couldn't exist otherwise. So it should be understood that facts play no role.
and Europe and discounted the price to the US. They know US crude is banned from export...so they are wreaking havoc by causing a supply glut. Lift the export ban on US crude or watch as US energy companies begin lay-offs ...you know the sector that helped bail out the US economy. Nahhhhhh..never mind..just go get in another 18 holes.