I've owned this stock for many years...well before the split. It's always been the most solid position I own. The recent decline is concerning but seems to be unfairly tied to oil prices. I am actually averaging up at this point. With steady divy bumps scheduled for 2015 and expanding business, this seems like a good time to buy.
Anyone think this will matter to BO? Judge Arthur J. Schwab found parts of Barack Obama's amnesty action unconstitutional Tuesday writing that the president not only exceeded his own authority but usurped congressional power. "President Obama's unilateral legislative action violates the separation of powers provided for in the United States Constitution as well as the Take Care Clause, and therefore is unconstitutional," Judge Schwab said, though his opinion isn't legally binding, as the case was simply one immigrant's deportation hearing. Schwab also found Obama's action goes far beyond prosecutorial discretion because it "provides for a systematic and rigid process by which a broad group of individuals will be treated differently than others based on arbitrary classifications, rather than case-by-case examinations." Furthermore, Schwab wrote, it grants "substantive rights" to these individuals. It's also important to note that there is no actual executive order -- only a series of memos. Perhaps Obama knew an order wouldn't survive a legal challenge and instead buried his mandate? Will higher courts do what congressional Republicans so far seem unwilling to do?
Columnist Thomas Sowell: "Critics and defenders of the harsh interrogation methods applied to captured terrorists can argue forever over whether those methods were 'torture.' But any serious discussion of a serious issue -- and surely terrorism qualifies as serious -- has to move beyond semantics and confront the ultimate question: 'Compared to what alternative?' If you knew that there was a hidden nuclear time bomb planted somewhere in New York City -- set to go off today -- and you had a captured terrorist who knew where and when, would you not do anything whatever to make him tell you where and when? Would you pause to look up the definition of 'torture'? Would you even care what the definition of 'torture' was, when the alternative was seeing millions of innocent people murdered?"
A group of New York City police officers is telling the mayor of the city and the city's council speaker to stay away from funerals for those killed in the line of duty. The Patrolmen's Benevolent Association is encouraging its members to sign a flyer banning the two politicians from attending their funerals. "I, as a New York City police officer, request that Mayor Bill de Blasio and City Council Speaker Melissa Mark-Viverito refrain from attending my funeral services in the event that I am killed in the line of duty," the flyer read. "Due to Mayor de Blasio and Speaker Mark-Viverito's consistent refusal to show police officers the support and respect they deserve, I believe that their attendance at the funeral of a fallen New York City police officer is an insult to that officer's memory and sacrifice." The police are angry at the mayor for throwing them under the bus as a bunch of racists when protests erupted after a police officer was not indicted after Eric Garner died resisting arrest in Staten Island.
Columnist Thomas Sowell: "Every society has orders and rules, but not every society has the rule of law -- 'a government of laws and not of men.' Nor was it easy to achieve even an approximation of the rule of law. It took centuries of struggle -- and lives risked and sacrificed -- to achieve it in those countries which have some approximation of it today. To just throw all of that overboard because of mobs, the media or racial demagoguery is staggering. A generation that jumps to conclusions on the basis of its own emotions, or succumbs to the passions or rhetoric of others, deserves to lose the freedom that depends on the rule of law. Unfortunately, what they say and what they do can lose everyone’s freedom, including the freedom of generations yet unborn. If grand juries are supposed to vote on the basis of what mobs want, instead of on the basis of the evidence that they see -- and which the mob doesn’t even want to see -- then we forfeit the rule of law and our freedom that depends on it."
Columnist Arnold Ahlert: "From the racialized mayhem in Ferguson and beyond, to the sexualized mayhem ostensibly rampant on our college campuses, the nation is witness to a common theme: the truth is 'not important' if it creates a 'conflict of interest' with the progressive agenda. Fortunately, it is an agenda increasingly defined by its desperation, and the plethora of lies and unfounded allegations it needs to sustain the all-important narrative necessary for its survival. The racial component of that narrative was dealt yet another blow Sunday when Eric Garner's widow, Esaw Snipes, insisted the death of her husband wasn't 'a black-and-white thing,' seriously undercutting the efforts of racial arsonists like Al Sharpton, Eric Holder and President Barack Obama who insists racism and bias remain 'deeply rooted' in American society. Baloney. It remains deeply rooted in a progressive agenda on the verge of complete collapse."
Sen. Elizabeth Warren (D-MA), told a group of Democrat donors in the Boston area that the subprime mortgage crisis unfairly "targeted" minority families looking to buy a home. She also lambasted what she saw as an unholy alliance between Wall Street and government, with people moving from -- in leftist eyes -- the evil corporate banks into government work, tainting the vaulted work of orchestrating plebeians' lives. Politico reports, "She ascribed some of the problem to a worsening climate of economic opportunity for African-Americans than existed even a decade ago, according to attendees. And she said that the mortgage crisis affected black and Hispanic families more heavily, describing those groups as being 'targeted.'" Warren neglected to mention those subprime mortgages were created by the government -- Democrats, in particular -- and then the government forced banks to adopt risky lending practices as a way to encourage minority homeownership. So were minorities "targeted"? Absolutely. By Democrats.
Hmmm....Canada or Venezuela? Seems like an easy choice to me. And all those jobs created by Keystone won't hurt either...
Do you own any OKS? I am adding more shares as the price is really cheap now and they released a statement in regards to regular divy increases in 2015. Jump on board if you don't already have some shares. This has been the most solid stock I've owned for over 10 years.
No idea why it's getting hammered as they don't deal with oil but perhaps the whole energy sector is getting unfairly hammered with falling oil prices. Natural Gas isn't going away and will certainly be in high demand this winter as people heat their homes...
Fred - Do you know much about Frederickson's history with FRO? I am encouraged by today's big SDRL purchase. However, it got me thinking. Did Frederickson do the same thing when FRO was falling? Is this just a PR ploy? I know he's spending a lot on shares, but this guy is filthy rich and these buys are a drop in the bucket for him. Still waiting on the sidelines to average down my SDRL position...
I guess that's another way to look at it. Folks will have more cash this winter as they won't be paying as much at the pump and might not shy away from turning up the heat in their homes. I've not seen a drop like this since the housing crash. I am buying more as well - especially with the expected increase in divys in 2015.
Long on SDRL and considering averaging down. Question for those familiar with FRO. Did Fredriksen buy shares in FRO while it was falling like he currently has been with SDRL?
November's jobs report no doubt contained good news. Payrolls jumped by 321,000, which was far above the 230,000 jobs forecast by economists. September and October also saw positive revisions. The most recent year with superior job growth was 1999. Add it all up, and the economy has clearly turned a corner after subsequent years in deep shambles. However, the economy continues to lag significantly in potential. The one particularly troubling statistic pertains to the labor participation rate that remained unchanged last month at 62.8% -- meaning 92,447,000 Americans aren't seeking a job. The cumulative effect of a stubbornly low participation rate is alarming to say the least, as nearly 12 million workers have called it quits during Obama's presidency. CNSNews reports, "When President Obama took office in January 2009, there were 80,529,000 Americans who were not participating in the office, which means that since then, 11,918,000 Americans have left the workforce." That's far more than the number of jobs Obama claims to have "created." So while the headline employment numbers have improved, there are still underlying problems that remain unresolved. That is why speculators remain pessimistic despite the media's rosy narrative.
Even though OKS does not move oil, the price of oil must be effecting this stock. The only thing I can guess is that people are assuming there will be more consumers buying/using oil based on the low prices. Demand for Natural Gas will weaken until oil prices go back up.