You have got to be living in California, its the only state more screwed up than Florida. In New England, 91 octane is $2.49 and we import all of our oil, California pumps their own.
Just in case some off you missed it, during the last election, the one that Obama won by landslide, Florida did not validate their election results until 2 weeks after the election. Most people didn't notice because Obama won by such a large majority that it didn't matter. The next election should provide Florida with another opportunity to damage our elector process.
The next time you see DADNORRIS, tell him how proud we all are of how you turned out.
I think the question is, will California place restrictions on water use by the oil companies ? This could impact steam injection, etc.
Linn reaches equilibrium at @75/barrel. Oil prices above that level allows Linn more earnings after hedges run out.
The same oil minister that failed to see the collapse of oil prices in the last 12 months now predicts oil prices will stay low ? Boy, you can take that prediction to the bank.
True 18th century politics in action in the 21st century. (See my previous post concerning the definition of a conservative)
Setting up for a super cycle by the summer of 2016. Oil could approach $100/barrel by then. Best parallel is to look at 2006 thru 2008, the last time Saudi's let the market set the price. Oil went from $55 to $140/barrel.
COP also has $48 billion dollars in capital surplus. They are not worried about paying their bills.
The CEO has repeatedly said NO DIVIDEND CUT. I think if COP cuts the dividend, it will be at board insistence over the objections of the CEO. Not likely to happen. COP is still a money making machine, even at $60/barrel oil.
I think (hope) that the eventual Republican candidate has yet to reveal himself (herself). There has got to be someone out there that's better than what I've seen so far. And the same holds true for the Democrats.
Ann Coulter is selling a book. Honest politicians don't sell books, its stories of dishonesty. Anything that you want to make up about politicians is OK because politicians are fair game. And don't for a minute think the Clintons were worse than LBJ, Nixon, or the Bush's. My God, the Bush's are bought and paid for by the Saudi's and Kuwait, and lets not even talk about Nixon.
You fail to include the amount of capital spent overseas building factories to take advantage of cheap labor. Decision makers that allocate these capital expenditures are predominately corporate CEO's that are overwhelmingly Conservative Republicans. I fail to see how any President can force a company to spend dollars in the US vs Overseas. Your solution seems to be a rollback of regulations to reintroduce child labor and sweat shops in the US. The same type of thinking that allowed rollback of Wall Street regulations that culminated in the financial panic of 2008.
Per Webster's dictionary:
Progressive - moving forward; proceeding onward; advancing; improving
Conservative - inclining to keep up old institutions; having a tendency to uphold and preserve; opposed to change or innovation
I fail to understand how the word Progressive is bad. But you throw it out like its #$%$ on the bottom of your shoe.
1. Alan Greenspan, as fed chair, ran economy into ground and left in disgrace.
2. 2/3 of all the oil going into storage in Cushing is imported oil because Cushing is a cheap place to store oil.
3. When storage runs out, production will decline in the US. There will no longer be anyplace to put it.
4. Once oil production companies cutback on production, it will be slow to come back. They just can't turn it on and off, it takes time, money, personnel. Once you lay someone off, you don't want to hire them back until you are sure you need them.
5. Oil contracts change hands dozens of times between producer and consumer of oil. Its the speculators that run the oil markets. So beware !!