Agree with you Bobby. RDS could get back to $80 in two years. All based on price of oil and NGAS. I believe the company has positioned itself for its best opportunity for profits by sheading poor performers.
Yes, two years at least. We are up to our necks in crude under storage. Tankers are parked offshore Galveston. Although rigs are being stacked, employees laid off, projects put on hold, and more daily, it will take some time to deplete what we have currently producing. I don't see this current condition going away any time soon. I've seen several of these turndowns, and so have you. This one will take longer to settle.
All eyes on middle east developments. Saudi territory is now under attack (in the news this morning). Just a matter of time with escalation of the fighting will oil exports from that region be impacted. JMHO.
All the best to you and others on this board.
Red: There's an old saying around the company hallways that Shell will make money in spite of themselves. Don't forget that this has been thought out and number crunched to the "Nth" degree before it occurred. GLTA.
Agree with you. This is just the beginning of an escalating ugly regional event. Oil production won't be cut back voluntarily, as oil export terminals may suffer collateral damage from the fray of conflict.
Wishful thinking, the saudi's will not cut production until their stated goal is achieved. The scenario of sanctions lifted on Iran could lower crude prices while putting more crude on the market, as stated already in the media. Recall that if the lifting of sanctions is part of the Bad deal according to Israel, don't expect this to last very long. As BiBi stated, Israel would act alone if necessary to prevent an established nuclear Iran, and there is no telling how that would change the middle east or its effect on world markets. Maybe if our president offers the Iranians enough jobs, cell phones, or entitlements, they will change their course and ideology, and all this doom and gloom will be averted.
20% of 401K is in starting early last week. Thanks and good luck to all.
Europe to outperform this year. Lower crude price on the way is what I am hearing. Now lets see what the Iranian agreement produces. GLTA.
Things still nasty in the industry. Maybe with better weather in the US, we will get more autos on the road and burn off some of the crude stock pile. Crude prices could go lower if the US-Iranian agreement allows Iran to market their crude. I am totally out.
Think we haven't seen the worst of it yet. Industry is still laying off workers, and tankers are still anchoring off Galveston. GLTA.
Consider this gentlemen; This is the way I read it after listening to the speech to Congress earlier this week. This is no small matter, and I don't feel there is political bluffing in in the message. IF, and only IF, someone we know is possibly one year away from attaining an NB according to an assessment, and IF the U S is not willing to take TIMELY action; It was stated in the speech that this one country would have to go it alone if need be. This M E country was not afraid to do so. These are not my words gentlemen. These words were broadcasted on every major news site. If this comes about, what position should one take as a result? Recall that the country I'm speaking of DOES NOT preannounce its intention prior to taking action as we do. We could awake one morning with it already in progress. Not sure what you all think about it. I feel we are on the path towards a reckoning. How would the market respond?
I hope I've masked this message enough to allow it on the board. All the best.