The most well documented financial story of the past three months has been the precipitous decline of crude. With no price surge in sight the pressure is mounting for many companies in the industry. “Some of these stocks are down 50, 60 even 90 percent,” says Yahoo Finance contributor and Belpointe chief strategist David Nelson.
One of those stocks, Goodrich Petroleum (GDP) is down another 9.5% today and a whopping 86% since the June highs. The latest dip came after it announced a plan to explore the sale of its shale assets. In short, shale oil is harder and more expensive to drill and produce than traditional methods. With lower prices squeezing margins it's no wonder they would look to shed that arm of the company.
In his most recent Tumblr post Nelson also points to names like Oasis Petroleum (OAS), shares of which have shed 75% since July. The company is being exposed to many of the same issues.
Neslon says the oil contagion isn’t confined just to energy names either. “These companies are all levered up on the price of crude. If they can’t pay their debtors, all of a sudden you have banks that can’t pay their loans...all kinds of different issues that pop up.”
The most recent hit to oil came at the hands of OPEC, or at least their most influential member, Saudi Arabia. On November 27th the group decided not to cut oil output, a move that would have sent supply lower and prices higher.
While the move may continue to roil markets the impact of low prices has some big geopolitical upside. “Ultimately this is a great thing, a great benefit for the world,” Nelson says. “Geopolitically there will be a huge transfer of wealth as this happens.”
Nelson doesn’t want to predict where the price settles when we reach whatever the new normal ends up being, but he thinks the days of $100 a barrel are long gone.
My share value in oil-based stocks are taking a hit, but compared to current gas pump prices its not even a contest. ♥ OPEC.
Meanwhile, Putin's economy has been successfully tag teamed by Obama and the Sauds.
Remember when the Repukes panties were drenched with love for Putin? Because he was a REAL leader?
Shakespeare wrote more about birds than any other poet, referencing the blackbird (ousel#$%$), bunting, chough, #$%$, cormorant, crow, cuckoo, daw, dive-dapper, dove, duck, eagle, falcon, finch, fowl, goose, guinea hen, hedge sparrow, heron, jay, kestrel, kingfisher, kite, lapwing, lark, loon, magpie, mallard, martin (martlet) nightingale, osprey, ostrich, owl, paraquito, parrot, partridge, pea#$%$, pelican, pheasant, phoenix, pigeon, popinjay, quail, raven, rook, sea gull, snipe, sparrow, starling, swallow, swan, thrush, turkey, vulture, wood#$%$, and wren.
"especially if Stapp espouses "family values" and abstinence."
a) CREED's Scott Stapp Loses Custody of His Kids
b) Scott Stapp’s Divorce Papers Allege Drug Use, Threats
c) Creed's Scott Stapp Denies Drug Rumors, Says He's Broke And Living At A Holiday Inn [UPDATE]
"UPDATE, Nov. 28: According to TMZ, Scott Stapp was placed on a 72-hour psychiatric hold on Nov. 13 after police officials found the singer appearing "wasted, incoherent and rambling that someone was trying to poison him."
d) Watch his appearance on Fox & Friends. He looks like a hobo.
Even with the weight of both chambers of Congress behind them, the Repubs could successfully impeach Obama, that would forever damage their credibility. And for what? To make Joe Biden POTUS?? Make no mistake, this would be perceived as belated GOP payback for Nixon (which was exactly how Bill Clinton's impeachment was seen - a fact that many Republican operatives have since admitted).
The 114th Congressional session begins Jan 3rd, 2015. If their first order of business is to introduce articles of impeachment, and then vote on it, I'm not sure what would happen.
If anything, bantering the I-question about, especially in the context of Benghazi!™ was always more about Hillary Clinton than Obama...which is to say, it is 110% political (a fact supported by 2 years and hundreds taxpayer dollar$ with zero findings and the promise of more to come - indeed, Benghazi!™ will never, ever go away; 50 years from now you can tell your grandchildren about the first hearings, lol. or maybe d'oh).
"Scalise argued that he didn't know that Duke had anything to do with the organization, saying the group wasn't vetted because of poor staff work."
This from the party of Personal Responsibility™: blame the help!
As for Boehner, I'm sure he's getting his New Year's Eve's Eve drunk on right about now, especially after forcing convicted felon and thug Rep. Michael Grimm (R-of course) to vacate his successful win for the nice people of Staten Island.
andimsupposedtobecrazy • Oct 5, 2014 12:17 AM
andimsupposedtobecrazy • Nov 13, 2014 7:07 AM
andimsupposedtobecrazy • Nov 13, 2014 3:06 PM
Gowdy said Congress is making great progress in its investigation into the Benghazi terrorist attacks.
andimsupposedtobecrazy • Dec 9, 2014 3:53 AM
Search Yahoo for, "2014/08/09/the-benghazi-brief-the-entire-story-of-operation-zero-footprint-in-libya-and-why-further-committee-hearings-are-futile/"
andimsupposedtobecrazy • Dec 14, 2014 9:36 AM Flag
Is the obama administration trying to use the "Torture Report" to redirect attention away from the 2011 to present day aiding and abetting of terrorists al Qaeda by the "Gang of Eight"?
Spendin all your money on me, on me...
You are going to be one unhappy little wingnut.
I was going to send your parents a fruitcake but I see they already have one.
Correct. The federal government was established with the ratification of the US Constitution by all 13 states in 1789 (not 1788). The Second Amendment was adopted on December 15, 1791 as part of the first ten amendments composing the Bill of Rights.
questor_2001 has always been an ignorant little jerkoff. This is basic information children are taught in the 7th grade, not mention included on citizenship exams.
According to federal law, in the event a covert operation is deemed necessary, it is the president’s responsibility to alert the leadership in the House and Senate, as well as the chairman and ranking members of the Intelligence Committees in both chambers...aka "gang of eight.
For the 113th Congress, that meant
John Boehner (R)
Nancy Pelosi (D)
Mike Rogers (R)
Dutch Ruppersberger (D)
Mitch McConnell (R)
Harry Reid (D)
Diane Feinstein (D)
Saxby Chambliss (R)
As far as aiding and abetting ISIS, you would first need to understand the ISIS origin story. ISIS was "formed" in the aftermath of Bush's catastrophically stupid and illegal invasion of Iraq and removal of Saddam Hussein. It is composed in part by the crazier members of al Qaida in Iraq (AQI) but predominately other Sunni factions. Officially, ISIS was created by the aggregation of the above groups in concert with the Mujahideen Shura Council sometime in 2006.
ISIS is one of a number of groups attempting to force Syrian President Bashar al-Assad from power - not because Assad is a monster (he is) but because Assad is a nominal #$%$ and a Ba'athist (baathism itself is an Arabic type of national socialism) and has some distant support from Iran. Saudi Arabia (likely the principal financier of ISIS) truly despises Assad's regime and so does Israel. Middle East politics, go figure.
Basically, the upshot of US supporting ISIS is an element in a proxy war against Iran, the first priority of which is getting rid of Assad. Contrary to stupid claims made by dumber members of the US (Kerry, Hagel, all Republicans) and chopping off people's heads, ISIS poses no real security threat to the US.
Not sure what ISIS has to do with Benghazi!™ but I'm sure you and the creepy conspiracy-minded Obama haters can provide some linkage.
(StLouisDispatch - December 19, 2014 5:10 pm)
Some witnesses lied to Michael Brown grand jury, McCulloch says. So why have them testify?
Certain witnesses who spoke before the grand jury investigating the Aug. 9 shooting of Michael Brown told obvious lies under oath, St. Louis Prosecuting Attorney Robert McCulloch said Friday.
“Clearly some were not telling the truth,” he said during an interview on KTRS 550. He added that he's not planning to pursue charges against any lying witnesses.
In his first extensive interview since the grand jury decided not to indict Ferguson Police Officer Darren Wilson, McCulloch said he had no regrets about letting grand jury members hear from non-credible witnesses.
During the interview, McCulloch referenced a woman who claimed to have seen the shooting.
This “lady clearly wasn't present,” McCulloch said. “She recounted a story right out of the newspaper,” backing up Wilson's version of events.
The criticism of that witness fits the questions surrounding Sandra McElroy, also known as Witness 40.
McElroy, who's admitted to using racial slurs and trying to raise money for Wilson, testified that she saw the entire shooting unfold, and that Brown charged the officer shortly before he was killed — a detail that has proven controversial because of conflicting reports.
Investigators picked apart McElroy's story, saying she could not have left the apartment complex in the way she described.
She also gave conflicting accounts of why she was at the scene of the shooting that day and admitted that she has short-term memory problems from a head-on collision that left her with a traumatic brain injury.
McCulloch on Friday also said he had no regrets about announcing the grand jury decision after dark on the night of Nov. 24.
“There was no good time to make the announcement,” he said. “Whatever was going to happen was going to happen.”
Your and your imformidable alias are cordially invited to #$%$.
I decided that Barry doesn't deserve to drown in his own blood. It's too pleasant a way to go.
Instead, once I find him, I will tie him up and skin him alive, 1-inch strips at a time, with a sharp paring knife, and leave him out in the hot Costa Rican midday sun so his pus-covered exposed flesh can burn. Then, when he has stopped screaming, I will dip him in a vat of boiling sulphuric acid, but leave his head exposed so I can hear his blood-curdling cries of agony as his flesh is literally eaten off his body. Then I will dump him in a river for the fish to eat him.
Then supper will be served to all guests! Dress is formal; please wear proper attire. Look for an invite later this summer. The whole board is invited!
Seven years and still one of my faves.
Islamist Money In Politics has been classified as a hate group by the Southern Poverty Law Center - no surprise there. Their HQ probably has calendars of Pam Gellar plastered all over the place.
Say, here's a fun fact: Prince Alwaleed bin Talal of the Saudi Royal family has claimed that "a strong American government is not good for us."
The kicker: he's the #2 owner of Fox News.
Yeah but I don't wait 3 hours to deliver the punchline to a (tired) joke: a Henny Youngman classic, but actually dates back to 1920s vaudeville routines.
No, it's because nitrogen is an inert gas and CO2 isn't. Vermie is correct that only a fraction of inhaled oxygen is converted to CO2 by human respiration...something like 24%.
You are also wrong that the EPA has labeled CO2 hazardous waste; what the EPA did was propose shunting excess CO2 streams to storage facilities as if it were hazardous waste, but at the last minute decided not to. In fact that's part of why environmental groups are so disappointed with the EPA's final decision.
You guys were decimated in both the state and the federl election, and deservedly so!!!!
Biggest federal wipe out since 1929, and the states stomped the libs also
Quit posting negatives about the GOP it just reinforces your stupidity
Speaking of stupidity, guess who doesn't know what "decimate" means?