The keystone line will also be carrying oil from the Bakken field. You have been listening to your totally ignorant, anti-business President.
Another item. The oil that they are extracting now is a very light sweet crude. The oil that we are importing from Venezuela is a heavy, sour crude - i.e. large amount of asphalt - type of chains with lots of sulfur. The crude is so think that they have to heat it before it will flow.
I am not sure where the refinery is that processes this this type of crude, but it was a very expensive plant to set up. Our country wants to stop supporting this communist country, we need to find another source - there is one other source - Alberta, Canada. There are 2 ways to transport it. Dilute it with lighter liquids and run it down a pipeline or take it by rail BUT I believe that the tank car would need to have heating coils to turn the crude into liquid form. There are 2 important coproducts of this refinery - much needed asphalt tar and a heavy oil called bunker C that is need to power ships.
The same thing that happened to me when Washington Mutual went bankrupt - the stock becomes worthless. This is a high risk stock. and would be worth a lot IF things turn around. There is a problem right now with most exploration & production companies; they are spending a lot of cash on finding new oil while the value of the oil is declining.
That would be on the old New York Central line between Syracuse and Montreal. The rumor mill had it that CSX wanted to get rid of this branch because it was a one train up and one train back a day line after ALCOA closed their smelter at Massena. and some of the paper mills closed.
My bond and utility holdings are doing well, the Pimco ETF is even recovering. A 3% drop may look bad, but we have seen CSX jump even more than that in a day.
Saudi Arabia is not a capitalist society, it can be classified as a benevolent monarchy. They don't have to worry about such things as costs or overhead. The Saud family has enough cash on hand that they could sell the oil at below costs for years.
A tariff on Brent? Why? That would interfere with our relationships with Great Britain.
A Obama is not smart and he has disdain for capitalism. Just like Plato he does not understand supply and demand pricing and wants nothing to do with it.
Update on Cushing, in case you have not seen it.. Because of the completion of pipelines between Cushing and the coast, the amount of oil at Cushing has dropped signicificantly in the last few months. Recently the amount of oil has been climbing because of increased flow in is starting to balance the flow out.
Consider - the U.S. does not need the ethanol that is being produced: the corn would be better used to feed the world's population.
EOG Resources (EOG) reiterated by RBC Capital Mkts. Reiterated rating Outperform
If you have held it for years and have a good return, why sweat a few cents profit more or less? I would suggest that you diversify by putting some of you money into an S & P 500 index ETF , like VOO or a total stock market ETF, like VTI. I have moved some of my other money into VTI.
Thicker metal - new presses, new dies Is the steel available? Not from what I am hearing.
Ceramic coating - I have no idea what is involved
Outer jacket - existing presses, new dies
More presses, more machinists and helpers, new cranes
Can you work a 300 ton press? There is a job waiting for you because they will not be able to starting turning out the Work In Process until more workers are hired.
I have been in CSX since 2007 with a purchase price of about $13.
I bought GWR at $8 a share in 2002 and sold some off recently at $102 a share and I still have more to sell. That railroad is good for me even though I had to go for over a year in the red .
Tripled my money on SEB.
One rule of thumb that I try to follow is hold a stock for at least 3 years even if it has lost half its value.
The Canadian National bought up the Illinois Central. That gave them access to seaports at Mobile and New Orleans.
With the reduction in the cost of diesel fuel, the revenue from the diesel surcharge will go away as well, making a slight hiccup in operating ratio and profits for the fourth quarter. Anybody have an idea what this will be?
I do remember the problem that occurred in years past - because the surcharge termination was not instantaneous and did not show up until the next quarter. The results would be that total revenue would drop a per cent or two in the next quarter while the matching cost, in some cases, was in the prior quarter, playing havoc with near term profits and cause a panic among some shareholders and analysts.