Buy while the yuan has value. Serious debt problems in the private sector and massive overbuilding in infrastructure and industrial capacity while facing an actual recession, not slower growth. Every talking head on finance looks backward at the massive growth and thinks growth can only slow. Recessions are normal and healthy in the long run. I think it may be China's turn.
And China is stocking up on oil while yuan has some value. Sounds like at least something close to a hard landing is ahead. China no doubt let her know what was coming before raising rates even a quarter point. Must be serious that a "quarter point" was dropped like a hot potato
Also saw where Obama refused bill that would allow US to ship US oil overseas. The rich oil companies really hate selling cheaper oil to US consumers?
How weak are "real numbers coming out of China". Building roads and factories aren't even the Chinese answer this time.
Once the Chinese run out of hundred of millions (monthly) to pump up the numbers....
Plenty of time before dilution needed. Partnerships and funding will hopefully come long before. Seeing some interesting results in the pipeline that could play out big in the long run.
GLTA, buy the dips.
Many predicted the shell plays would have a short high production period followed by a sharp drop off. If this is playing out you will also see even less willing investors for new shell based wells. Another weekly report like this and WTI could quickly head north of $60.
The lack of a bounce is pointing to #2 being a problem. Need to show a profit sometime in the future as the buyout talk fades daily.
September 15, 2015 5:45 pm
Iraq has warned big western oil groups they are likely to have to cut spending on its southern oilfields in the coming year after a collapse in international prices that has left Baghdad with less revenue to pay them.
$50 oil is not affordable and a break to the upside is going to hurt a lot of oil investors. Wall Street works that way.
Russia has moved in troops to protect it's port facilities. If oil production becomes an ISIS target Russia will be happy as ISIS will need to move attack westward to blackmail Iraq??? Don't expect Russia to be an easy target for ISIS as you can see in Chechnya, also expect Iran to help with the Syrian Shia zone. Think Europe is also softening it's Syria stand?
One other update, Saudi Arabia production is trending down. Think we could have a good couple of weeks as this heavily shorted commodity has changing dynamics ahead?
...beat expectations on EBITDA distributable cash flows in August
* Must be forced selling and share liquidations of anything oil related bringing down the good along with the bad and the ugly.
Increased volume is the focus. Lower nat gas prices giving shareholders cheap entry into storage and pipes.
Wall Street energy ETF's being liquidated must be causing this sale price?
Always beware Goldman throwing out "the worst possible $20 something is possible". Goldman likely on the buying end should they help create a panic. Boys are known for trying to gather shares by shaking the tree.
Will sell my little holding this PM. Have to thank Goldman for today's bounce as they play their game.
Canada isn't going to be too happy about the news.
And huge amounts are going actually filling up the last of storage capacity. The Chinese are even starting to build storage facilities to fill up with $20 oil. It cost less than $1 to extract much of the oil in the middle east. MPG continues heading higher in the average vehicle. Many iIndustries such as miners, that are heavy users of oil, are closing down....Emerging markets in full recession.
Then you have Wall Street that knows how to pocket billions in trading every day of the year. Always ignore facts if you can figure out where Wall Street is making it's money.
Anyone wondering how the 1% increases their share of the national wealth year after year. You can see it but you'll never hear it from Goldman and company.
Refiners shutting down for seasonal repair. Next weeks storage gonna look worse. Would love to hold my shares for one week and see new 30 day high above $225. Downside? $90'S? Just 100 shares for entertainment.
In at $108. Dangerous signal if you're long DWTI. Anyone hold this for a week? The summer is over and oil supply gonna just continue to build. Overseas production going up as inventories grow here for next few months.
GLTA, this one is like playing in Vegas
Another $30,000 today. Your have to wonder if the "constructive talks with PIP and the courts is one more tactic that will add years and years before the final settlement. As this continues I'm more impressed with the Siga gang of lawyers and a little more afraid of what and when conditions are coming to the agreement.
GLTA SMALL INVESTORS
If you don't think the US can make it work you really don't know the US backed into a corner. $100 oil is gone forever as more and more alternatives advance daily.
Well written. One huge problem is that ISIS and Islam are not going away. And alternatives like Tesla make more sense every day. Where is the future and no wonder everyone wants to sell oil cheap ASAP. Should Exxon or Ford get behind Tesla or it's coming competitors?
Vast majority of the world looks at oil alternatives as the future every time they see oil prices creep higher. The world has reached a point where alternatives to high priced oil become a better reality daily. OPEC & XOM know the days of gouging consumers with high priced oil are over.
They also know even cheaper oil is needed to kill off advances in oil alternatives. Tesla has had a far bigger impact than many know. Tesla has cash and backing of world to keep advancing his attempt to make a better world. Tesla is now a trend that is not going away and the future Tesla competitors may even have better answers. Oil is not a long term investment and Wall Street is talking with it's feet as it moves it's money