Calling for $40 oil still? You must be standing on your head for its going the other way along with bond yields. I still say around $24 is the current free market price. And then maybe more rumors about meetings which nobody believes until these countries really start to suffer social unrest-like actions from its citizens.
These people made major concession a while back all the while UAL management were rewarded $100M bonus packages. So your point is mute beyond words. Have you ever actually worked for a living is my question to you sir.
The airline reached a tentative five-year labor deal with 30,000 members of its machinists union. Workers will get a roughly 30 percent pay raise over the length of the contract, plus other benefits.
Excellent post balzofsteele. Once again the pilots are treated with pure royalty and the REAL workers, mechanics, get the shaft. Wife is an international FA at ORD with UAL. Their parking lot is by the mechanic hangers. I over the years have talked to many of them and for the most part they are truly hard working folks who aren't afraid to get their hands dirty. Unlike the prima donna pilots. The FA's haven't gotten their contract ratified either but nowhere near as important as is the mechanics contrasts. I read recently the big 4 airlines in the USA now outsource 50% of their mechanical work. I don't see UAL or the others outsourcing their pilots.
Two activist investor groups last week said they want to seat up to six new members on United's Board of Directors. In other words do anything/everything (even if it means firing 90% of the employees at UAL) so we hedge funds can make money w/o ever working for it.
If you weren't so blind via "redneckitis" you wouldn't have posted such an idiotic falsehood. But then again consider the source. Negative IQ'd folks is what this toilet entity, GOP, has flourished off of for decades.
Just jawboning and Iran loves this BS. These bogus meetings are just that. The supply is here to stay for a long time. And what does Iran think about this? They love it. It raises their revenues. They can pump out all they can and make more monies. If oil was where it should be ...$28 they'd have a helluva lot less in revenues. A double plus for them are these BS talk proposals.
It ain't going to happen sir. UNTIL the big players either get out of their long positions or start new short ones. I mean isn't this abundantly clear to all by now? There is no rhyme/reason for this lunacy other than it's totally manipulated. It's stealing pure and simple. Oil should be below $30 as you well know by now. But is ISN'T.
You're looking too much in the rear view mirror mister. Oil turns negative as US crude stockpiles rise by 2.1M barrels. About 20 minutes ago. I guess you missed this important piece of info. Again.
Could be handled in one easy sweep of the pen. The U.S. government should contract with the fracking community at profitable prices to re-start energy production in once-booming communities that have fallen on hard times, until U.S. production equals that of Saudi Arabia.
When the big money is in charge they can do whatever they want. They'll use any two-bit excuse to manipulate in their favor. Big money rules the day. That and this affront named Yellen.
Fundamentals and logic take a back seat with trillions in oil derivatives out there sir. You're 100% correct but in this farce of a market folks like us and common sense don't matter.
More meaningless jawboning causing Stock and Oil Markets to Rally!
Speculators (they are definitely not investors) are disregarding actual fundamental data and placing their bets that a bunch of countries that don't like each other are going to agree to freeze Oil production at current record levels. Even if these countries could agree on a freeze it is not going to solve the Oil glut!
As Spock would say, "The Markets are totally illogical!"
And XOM paid over $30B for that NG play years ago. NG has been a disaster. Yet we could all be burning it (made in good ol USA) in our vehicles paying about $.67 per equivalent gallon. #$%$ is going on in our country?
Just knocked XCO down 10%. Like this is the action from some old lady living in a basement apartment. Hedge funds have absolutely no respect for anything but making a cheap fast buck w/o working for it.