Net income per year, excluding a few expenses of course was $1.25 per share, putting the P/E north of 400. It's clearly in bargain territory now. I mean cut me a break, 400, P/E should be well over 1,000
Not sure about $1.51 meaning much of anything, $45 oil would be a lot more indicative
45 would be nice, I'd think that's the minimum equilibrium that OPEC needs.
They can't keep their country running at $10, let alone $30, let alone $40, it's not a question of what it cost them to get it out of the ground, it's essentially what it costs to run their country. That's why they are considering taking some of it public just to keep things running. The cost of production is important in a free capital setting which is pretty much none of the OPEC countries. They have little to no ability to lower costs such as companies here do. It's not a game they can play for long. Let's see how taking a pay cut works out for these countries, especially for those where the action is voluntary.
$20-$30 doubt it, $40 to $50 this year more likely. Doubt if OPEC plays game much longer and demand relentlessly goes up for years to come
If growth in the US was 6%, people would be going crazy with joy. I guess I just don't understand how 6% growth is a problem once supply makes an adjustment, which you would think has to be awfully close for most commodities. Overshooting the other directions seems like a real possibility
I just can't see that $10 prediction coming true, I think we go right on down to $0, that's ZERO folks. I mean why keep losing just a little money, when everyone can lose tons of money! I mean who really wants to pay anything for oil? Driving will be free, free, free. We can all move that money saved into something useful like Powerball tickets. You heard the call here first, way in front of Morgan Stanley, Goldman and the other geniuses that predict anything from $20 to $200 and pretend like they have a clue.
I've never seen the guy before but I didn't take away any of that. The price seems detached from reality at the moment. Pretty obviously supply is dropping and demand continues as usual to move relentlessly upward even during pretty much a bad time. I'd say it is approaching scary enough that it could whip back hard if it is overshooting the bottom. Is the price of the asset really changing as fast as the market price suggests? Hard to see how that could be possible.
or a huge naked short order came in and they needed to find someone to make up the shares to lend. This is definitely not under control of the average investor at the moment
I'm riding my oil stocks to zero, just doubt that it happens. In fact, I'd guess we're a problem away from the price skyrocketing back up. And that problem seems more likely every day as political risk seems increasingly ignored as it increasingly grows. I'd have to think there is some manipulation to the downside occurring but that's way beyond anyone's ability to discover but for those doing the manipulating.