P.S. I'm not completely anti-coal. I still have some KOL in my IRA, along with other commodity related funds, but to be so overweight in it for years like you have been has simply been a disaster.
If you want a commodity which has been beaten down for years and is probably closer to a rebound than either coal or gold, perhaps uranium would be a better choice.? Just an idea...I do have some URA in that same IRA account and I expect to recoup my losses on URA faster than KOL (although don't have actual losses in KOL since it was purchased at the lows in 2008 and a year or so ago).
"That's great news to US coal producers"
According to you, everything is great news for coal producers, even though their stock prices continue to languish and we keep hearing news of major utilities planning to scrap additional coal fired electricity generating plants.
It's been years now that you've been on the 'massively long coal" wagon and apart from huge losses (including bankrupties of Patriot, soon to be followed by JRCC) you continue to suffer huge opportunity loss. In the same time you've been continuing losses on coal, I've probably doubled or tripled my portfolio value (in MLPs). The Alerian MLP index is up about 5-fold over 5 years, and up from 100 to 1500 in a little over 15 years.
It's time to be a man and admit you were wrong on the coal thing. In investing, being years early with a call is no different than being wrong. If you admit it and move on, there is a chance to start re-couping some of your losses and rebuiding your wealth.
UNG? Probably not. I have lots of investments in NG producers and infrastructure companies but these futures based ETF's make terrible investments. Just look at a long term chart to remove any doubt. I held UNG for a few months in 2008 when NG was exploding but never since then.
Apart from that, my comment above was neutral to UNG. I said that the price spike in Boston means nothing to UNG, which should be obvious because UNG is based on the price at Henry Hub, not at the price in Boston. The North East hubs have always have temporary price spikes during cold spells. That can hardly be interpreted as an 'attack' on UNG, any more than saying the price of apples in China has no impact on UNG. It is simply irrelevant to it.
He's a sad, lonely person. The good thing is that he sticks to only a few boards so it's easy to avoid him by going elsewhere. I mostly gave up on the NTI board since he turned it into his soap box.
The $300k was turned into $2 million and produces currently 15% annual cash return (exclusing gain in portfolio value). If you listened to my explanations you'd be able to replicate that kind of performance. But you're afraid to try things outside your comfort zone, of course. Which makes you...a loser. Sorry, but there's no other word for it.
Is there anyone around that DOESN"T consider craig a pathetic loser? One who has nothing better to do on weekends and holidays than respond to EVERY thread on the message boards with no purpose other than to contradict, even on subjects he admits he has no understanding of. His usual reasoning: if Craig doesn't understand it or has never heard of it, then it can't be possible.
"There is no law that forbids exporting oil. "
As usual, you are wrong. You can google the following for further discussion:
"The Case for Allowing U.S. Crude Oil Exports
I do expect that in the next few years the pressure will be overwhelming to overturn that 1970s ban. You could make the same argument about wheat, corn, and every other commodity the US produces and exports, including natural gas for which the same arguments were made and for which export permits are not being granted. It doesn't benefit the US to have a glut of oil such that producers can't make money and so stop investing in new production.
"Crestwood midstream as they say their business is not affected by underlying commodity prices"
There are many midstream and pipeline companies (n addition to and probably much better than Crestwood) which have fee based contracts and therefore not so much impacted by commodity prices.
I don't know if you can make a generalization about refiners...if the oil input costs go down but the refined product prices go down by a similar amount then their margins remain the same. In any case, refiners are going to be sensitive to commodity prices, for better or worse.
As for oil going to $80, it's possible but I wouldn't count on it.
I remember New York Gate NG spiked to $30 a few years ago.
Doesn't mean anything for UNG though and is typically very short lived.
Just due to local infrastructure bottlenecks.
Not far away in the Marcellus gas still sells for less than $2.
You must be confused. The Alerian MLP index has gone from 100 in 1997 to around 1500. It's the best performance of any asset class in the market over the last decade. I hae quintupled my portfolio alue (all MLP and trusts, with a few Canadian dividend paying corps) in the last 5 years. You are simply wrong and the data proves it. Just look at the Alerian index.
and apparently the only one of the frequent posters on this board who makes big money from energy investments. Most of the other posters here have spent the last 3 or so years continually posting questions wondering why oil is priced so high.
I didn't say anything about oil going to 100 (it's already over 100 in most parts of the world anyway)
yeah, like we never had cold weather in previous winters
"UBS expects too much in a guidance report and doesn'r consider the excellent past performance in delivering more then they promise."
Which planet are you living on? This is the old NRGY, remember? They have exactly the opposite track record.
Not sure which guidance you looked at. CEQP guidance for 2014 was WAY below expectations. Guidance for 2015 though was much better but that's way off and old NRGY has a history of promising high and under-delivering.
Nobody cares how many cars are driving past your house. Life goes on. The storm will pass in a few days.
And it's never going to get warm again? It's the start of a new ice age?
So you mean it's never going to get warm again?
Your posts are ridiculous making it sound like a bit of cold weather means the end of economic life as we know it. Winter comes every year, you know.
clueless...how can exports be 'way up' when there is no export infrastructure except limited capacity pipeline to Mexico? There won't be significant exports for several more years at least.
earth to greedybaturd...there is cold weather every winter. Things go on.
Your posts about the weather are pretty pointless.