One even more funny was when Obama asked Iran to return our newest stealth spy drone. Now he's trying to chum up with new buddies the Castro brothers. That's going to work out as well as it did with Putin.
The Obama administration has asked China for help with curbing North Korea's ability to launch cyberattacks like the one federal officials say crippled Sony Pictures, according to a published report.
The New York Times reports that the White House requested help from Beijing in recent days, but the Chinese have not responded. However, a senior Obama administration official claimed to the Associated Press that the U.S. and China have shared information about the Sony attack. The official also says China agrees with the U.S. that destructive cyberattacks violate the norms of appropriate behavior in cyberspace.
The United States has previously attempted to use China as a channel for influencing North Korean policy, particularly on matters such as nuclear tests, weapons launches, and relations with South Korea. However, successes have been rare and fleeting. In the specific case of the hack on Sony Pictures, The Times reports that Chinese cooperation would be the key to blocking North Korea's cyberwarfare capabilities, since virtually all of the country's telecommunications run though Chinese operated networks.
Brent goes up a dollar and shorts cover like the glut is all over with. Everyones going to start drilling for $60 oil, happy days are here again. See how this all works out over some time. Just can't be jumping on here.
When drillers rally you have to know it's nothing more than a dead cat bounce. I expect Russia will be in a full blown recession by middle of 2015. This going to be a big drag on world economy's. Just going to be a drip drip of bad news going well into 2015. Not all that sure if we might just miss that January effect. Still sitting out of all the oils except for a small short on RIG at $24. Everything else so beat down just don't like shorting here though am sure money still left to be made.
Everyone runs in to cover and or go long, longer thinking now is the bottom. Obviously not one thing has change, just some panic covering. This has happen before and trend remains in a bear move. The market not even given a hint of a bottom as of yet.
Obviously he's sold on SDRL will ride out the down turn. Impressive buys too. However that don't mean use little guys have to blindly follow suit. PPS still looks lower along with all of the drillers. Keep your cool, sit on cash at least after first of year or even longer. This bear market not going to turn on a dime.
Not to mention the obvious, more sellers than buyers, the company can't seem to make any real money. Plus the PE for what it is, the company is still richly valued. It took some real idiots this year to bid this thing up so high in the first place. Just because the PPS is half what it was hardly makes it a value stock. You can about buy BP for the same price!!! Get 1.5 shares of CVRR or NTI, two companys with no debt that know how to make money.
WASHINGTON, Oct. 29 (UPI) -- Total U.S. crude oil imports for the first nine months of the year are down 15 percent from two years ago, Energy Information Administration data show.
EIA published monthly data for the U.S. energy sector. For the first nine months of 2014, the United States imported an average 7.4 million barrels per day of crude oil, down from the 8.7 million bpd reported during the same period in 2012.
Yes, I can just see us exporting crude oil now. We just slap a label on a tanker we are importing and then export it. It's such a stupid thought, our administration just might do it. Better yet I expect they would even lose money doing it.
The problem with contracts is they will just pay the penalty and walk away! They stacking rigs now and it's going to get worst as company's walk away from 'contracts'. No different than land drillers. RIG in the same boat.as SDRL. Not to mention we have a glut of deep water rigs all running after the same disappearing demand. I think even a 'moron' can see this not going to be a simple few month event then happy days are here again. More in play here than just the price of oil.
Just because oil finds a bottom does not mean everyone's going rush out and start drilling! Forget the dividend, that's going to be history. Buying now most likely will end up being a long wait and your not going to be getting paid to wait. Refiners will keep paying to some degree, but for now they still are weak.
Bub, if you own CVI (and you do), your better off looking at CVRR. It's getting hit more just because they took a hit on the dist last quarter but will correct on next one. I am just mostly on the side lines waiting this correction out. It's not like we get a bottom and everything pops up. Just not a good time to be tossing cash at falling stocks, more so this month.
" I am mystified that this refinery stock should drop with the decline"??? What's to be mystified about that! Just take a good look at the statistics on the stock and you should get a clue. The problem with the company is management can't figure out after years and years how to make money. Top it off, even at today price a PE 24 is not cheap for this stock. For some reason people are blinded by the assets (refiners etc) and over look the poor performance over the years. I really don't know how they can screw up so much managing this company and still draw a pay check! Check out CVRR with 2 refiners, NTI with just one. As long as they can keep borrowing money, they will stumble along and pay the distributions.
Refiners are dropping like a rock along with price of crude. I am thinking the markets are pricing in a prolong low price in spot markets, well beyond any forward hedging. Economy's will slow down along with demand for oils. Russian going for a recession early next year. We could see a trading range in the $50-$60 for years, or not. Just a guessing game for now, but distributions should stay solid for time being. Again, anything can happen and generally does. OPEC could panic! I could panic!!