I read that bs article too.......written & published in concert with the #$%$ who have been shorting SD stock..........
This will be the last payout to that dirtbag Prema Watsa since the shares will convert to common in December.
Why Oil Is Plunging: The Other Part Of The “Secret Deal” Between The US And Saudi Arabia
Why Oil Is Plunging: The Other Part Of The “Secret Deal” Between The US And Saudi Arabia thumbnail
Two weeks ago, we revealed one part of the “Secret Deal” between the US and Saudi Arabia: namely what the US ‘brought to the table’ as part of its grand alliance strategy in the middle east, which proudly revealed Saudi Arabia to be “aligned” with the US against ISIS, when in reality John Kerry was merely doing Saudi Arabia’s will when the WSJ reported that “the process gave the Saudis leverage to extract a fresh U.S. commitment to beef up training for rebels fighting Mr. Assad, whose demise the Saudis still see as a top priority.”What was not clear is what was the other part: what did the Saudis bring to the table, or said otherwise, how exactly it was that Saudi Arabia would compensate the US for bombing the Assad infrastructure until the hated Syrian leader was toppled, creating a power vacuum in his wake that would allow Syria, Qatar, Jordan and/or Turkey to divide the spoils of war as they saw fit.
A glimpse of the answer was provided earlier in the article "The Oil Weapon: A New Way To Wage War", because at the end of the day it is always about oil, and leverage.
The full answer comes courtesy of Anadolu Agency, which explains not only the big picture involving Saudi Arabia and its biggest asset, oil, but also the latest fracturing of OPEC at the behest of Saudi Arabia... which however is merely using "the oil weapon" to target the old slash new Cold War foe #1: Vladimir Putin.
Saudi Arabia to pressure Russia, Iran with price of oil
Saudi Arabia will force the price of oil down, in an effort to put political pressure on Iran and Russia, according to the President of Saudi Arabia Oil Policies and Strategic Expectations Center.
Saudi Arabia plans to sell oil cheap for political reasons, one analyst says.
To pressure Iran to limit its nuclear program, and to change Russia's position on Syria, Riyadh will sell oil below the average spot price at $50 to $60 per barrel in the Asian markets and North America, says Rashid Abanmy, President of the Riyadh-based Saudi Arabia Oil Policies and Strategic Expectations Center. The marked decrease in the price of oil in the last three months, to $92 from $115 per barrel, was caused by Saudi Arabia, according to Abanmy.
With oil demand declining, the ostensible reason for the price drop is to attract new clients, Abanmy said, but the real reason is political. Saudi Arabia wants to get Iran to limit its nuclear energy expansion, and to make Russia change its position of support for the Assad Regime in Syria. Both countries depend heavily on petroleum exports for revenue, and a lower oil price means less money coming in, Abanmy pointed out. The Gulf states will be less affected by the price drop, he added.
The Organization of the Petroleum Exporting Countries, which is the technical arbiter of the price of oil for Saudi Arabia and the 11 other countries that make up the group, won't be able to affect Saudi Arabia's decision, Abanmy maintained.
The organization's decisions are only recommendations and are not binding for the member oil producing countries, he explained.
I know they have hedged the majority of 2014 oil production and some for 2015. With the price of crude coming down they would be making extra money on the hedges but they also have 3 way collars so that limits both loss & profit. I don't understand how the collars work & how much they limit?
WS is trying to scare people like ACI is going BK this year or next. Just vote Republican in November to gain control of the Senate. The new EPA regulations will be overturned and you will see all coal stocks do well. Again, don't let these WS #$%$ scare you into selling right now.
When the stock gets back to 9 you have something to say.....until then it's a fantastic/great well but it's only one well. Meanwhile what we have here is a very, very sheety stock performance so far............
I remember the 1st issue of Gary's worthless warrants, not the 2nd worthless issue ...."You guys are gonna make a lot of money" . When Gary when? And for that moooron GE #$%$ kissing pumper that always ends his posts with "yawn", stick it!
You couldn't shut Dinaghar Singh up there for a while. Drinking gourmet expressos with those bozos on Squawkbox. Not a peep out of him nowadays.