"I also hear that U.S. refinaries are begging for heavy sour (that's PGH !!) and refusing light sweet. "
Not sure about the begging part because there is plenty of heavy crude available. About fifty percent of US refineries are geared for heavy crude, and the other fifty percent are designed for light sweet crude. Light sweet crude is more suited for gasoline production and heavy oil lends itself better for diesel production. Because of Shale wells which are light sweet and rich in natural gas liquids, the US is producing far more than the US refineries can use.
I'll say it again, in the Mid East there is about 10 million barrels of cheap oil that can come to market in the next five years, the area needs money to fight their wars and repair the damage when the wars end, and they will have to get the money needed by selling their oil. As long as the west keeps trying to bring down debt by austerity, the economy will remain anemic. Bottom line people are not getting raises, on the contrary many are losing wages and benefits, it takes money to buy things that creates demand. Oil isn't the place to be now nor will it be in the foreseeable future, unless the Saudis oil fields go up in flames, and that isn't likely since the Saudis enemies barring Iran have no air force to threaten them with. Ground forces attempting to enter Saudi Arabia would be cut to pieces by their air force, and since oil is where everyone of different interests get their money to make war, oil won't be a target for destruction. all imo of course.
John has never seen a war he didn't want the US to get involved in. Just remember this,he supported the so called moderate Muslims in Syria he wanted a bigger role for the US with them, those so called moderates have now mostly been disbanded and absorbed by the more radical groups. And McInsane was photographed albeit probably unwittingly with a known terrorist while on a support tour, which says a lot when it comes to that area, there are few to be trusted and when it comes to the US it is pretty much the US is being used by any side that sees a benefit, but in the end when the dust settles it will be Uncle Sam the odd man out. And John's straight shooter express was derailed when he realized hat he was so far behind Obama in the polls that he had to pull a rabbit out of his hat, and that rabbit was throwing everything he had been claiming he was out the window, in a desperate attempt to make up lost ground in the presidential race. I have little respect for him as a politician, but I can separate and respect his military career.
No expert here, but what I have read about BK the preferred share and bond holders get the mine, and the common share holders get the shaft.
investors are paying to much attention to supply and not demand. The world's economy remains anemic and that is where the real problem lays. Once again people do not have money to spend when that happens the economy contracts, plain and simple way to much money going up and the amount trickling down is woefully inadequate. This recover is the same as reagan's most of the bail out and the rewards went to the ten percent. The R. slash and burn tactics of austerity cut wages and take away benefits, has exacerbated this situation. Banks are still tight, making it difficult for small businesses and new home purchases. It's the economy stupid!
Almost as soon as it announced plans to build its lithium-ion cell "Gigafactory," Tesla Motors began to hint that it could be the first of many.
After beginning construction at its first site near Reno, Nevada, the company is now showing interest in an additional gigafactory--this one located outside North America
will have a major new product announcement next month, speculation is that it will be about batteries to store wind and solar energy, allowing complete independence from the grid. We all knew Mr. Musk had more than electric car batteries up his sleeve when he announced the mega battery factory. Didn't we?
There is no agreement to let Iran have nukes in ten years or any time nukes period. non matter how many times the right wing talking heads repeat the lie, it is still a lie.
Only the Saudi's and the people they deal with really know what is going on over there. They pay their people money to keep them quite, that may have reigned them in for know, but I doubt it changed any of their minds. I have heard that it is the Saudis past backing of teaching of Wahhabi, a strict form of the Koran interpretation that has caused most of the trouble in the Mid East. The Saudis been attempting to pull that back, much easier said than done. Point is things can get a lot whole lot worse, and may take a long time before things settle down.
I didn't mention Europe because their past ones didn't help the consumer, it was more top down failed policies. We are in a consumer oriented economy if they the consumer doesn't get more money to purchase things, stimulus won't work. It just garners more trading between billionaire hedge funds.
Common stock holders are bag holder, by the time preferred and bond holders are settled, there will me nothing left for the common share holders even if/when ANV comes out of chapter 11, unfortunate but that is how it works.
not saying this is a fix all, but China has decided to further stimulate their economy. Now if the West would follows suit, then we would have a bull oil market. Not going to happen though.
Storage capacity will have the biggest effect on oil prices in the near future, of course a weakening USD is significant also, but a weakening USD does not stop oil from flowing.
"Virgin is the latest company to announce a foray into electric cars, joining Tesla and Chevrolet. And Tesla is preparing to showcase a battery that can power an entire home with stored wind and solar power, effectively reducing one's power bills and taking homes entirely off the grid.
Lockheed Martin, best known as a defense and aerospace giant, has made some explosive claims about the potential for its "compact fusion" reactors. The company says that reactors, small enough to fit on the back of the truck, can harness the power of the sun and usher in a disruptive innovation that will make fission reactors, and other more conventional forms of energy, entirely obsolete. "
FM the same article "Boone Pickens, a lifelong oil man, recently reiterated his prediction that oil prices will be higher by the end of the year — he expects to see it hit $70 a barrel. "
Note that Lockheed Martin is no pink sheet full of exaggerations stock.
Sorry but gw BuSh has that title. You forget so soon that he gave us two unnecessary, unpaid for wars, Dubya claimed when running for office that he wasn't a nation builder, he should have said he wasn't any good at it, and he also gave us the biggest recession since reagan's. Obuma as you put it dug us out of the R. recession, all recorded stats point to that fact. And if the just say no R. congress had allowed P. Obama's jobs and infrastructure bills to pass we would be in a far better place than we are today.