You managed to blame Obama twice in that one. Very Good, you get a gold star. I know that Obama is responsible for the weather and we just got a blizzard here in New England, who do I write to about that ?
Not purchases, these shares are awarded for their stellar performance as managers. Imagine how many shares they would have gotten if they drove the stock price down to $5 ?
I also understand that Aliens brought this new technology to Earth, so that would invalidate the patents. Please, ancestors discovering nuclear fusion ??????? Give me a break.
I remember when the Japanese did the same thing when they were the high flyers. At least all the money we send to China is coming back.
Drilling in California is not important to LINE owners, I believe almost all of it has been shut down by LINE. Notice that at the end of 3rd qtr, the estimated oil production was to be 29 million barrels a day by year end but the 2015 budget calls for production of 22.5 million barrels a day. The difference is just about what BRY was producing in Californial, unhedged.
There's plenty of oil at $100/barrel. We're about to find out over the next 2-3 years how much oil there is at $60/barrel oil. I think its a lot less.
This rant reminds me of papers I used to do in College after partying all night and getting high. Seemed to be a good paper when I wrote it but when I re-read it a week later I couldn't understand what I had written.
Wouldn't be surprised to see an announcement in next few weeks that CFO is getting dumped. He's been one of the weakest links in Linn mgt team for awhile.
Maybe its me but I haven't heard a giant outcry from Americans demanding the end of ethanol. Just the opposite, most Americans could care less.
And if you look at the red states, ethanol isn't going anywhere soon.
"Americans are good stewards of the lands" . . . are you kidding me ? American history is a history of Americans raping and looting the landscape and leaving behind large open scars while reaping huge profits. That's why Alaska required, by law, the oil companies to remove the pipeline when it was no longer being used. Otherwise it would have been left there to rust away.
Blizzard moving into the Northeast so most traders are not going to work Tues and possibly Weds. They're just covering their short positions and going home.
With 350 billion in debt, trading at half price, the ECB can buy up all the Greek debt in 3 months of QE spending and then tell the Greeks to go away and never come back.
It wasn't too long ago that the Mid-east was run by tribes and tribal chiefs. Too some extent it still is. The British created the Mid-east at the end of WWI by drawing lines on a map when they broke up the Ottoman empire. What's going on in the Mid-east today is what happened in Europe after the fall of the Roman empire. All these tribal chiefs are fighting for control and power just like the Huns, Visigoths, Lombards, etc. did during the so called "dark ages" of Europe. If there was no oil in the Mid-east, we wouldn't care or even notice. Near term risks are that OPEC has lost control of their oil production and low oil prices will stress all these oil producing countries. Yemen and Syria are a lot of "who cares" because they have little oil. Iraq we did ourselves by throwing out the people who held power and failing to replace them with anyone capable of governing. Thank you George W. The interesting thing to take note of is that the major oil fields are all still held by people that want to sell the oil. So like, as we know it, goes on.
Just an FYI, It takes 20 years to build a nuclear power plant, I'm not worried about future impact on oil prices.
What makes you think that Obama and the overwhelming majority of Americans dislike low oil prices ? As you stated,"economic activity is driven by energy". Lower oil prices will fuel increases in economic activity, ie: increased demand for oil. Its the long game. Lower oil prices will boost Europe, American, and China economies which will mean higher prices down the road, two to three years down the road, but higher prices will come back. Just not high enough to bring back the shale oil bubble. Shale oil will continue being developed but in a more prudent business like manner rather than a debt fueled frenzy.