Schlumberger just announced another 11,000 layoffs
In spite of the largest drop in rig count (42) reported Friday these nuts keep pumping away. Eventually --- by mid year or so production will fall off and WTI and Brent prices should tack on 15-20/barrel. It is with some degree of hilarity I watch the fracking industry beaver away giving away cheap oil --- they'll hit max capability around 2018 and it's a steep decline thereafter. Meantime (back at the ranch) the big boys (e.g. BP) have loads of reserves to sell at higher prices later.
With the Middle East imploding (note how ISIS just took over vast swaths of Anbar) and Saudi "up next" ---- you can bet there will be considerable disruptions in Saudi oil as they ultimately join the ranks of failed states in that region --- only a matter of time.
Sentiment: Strong Buy
Saw that --- Obama finished in 7,000,000th place while Romney finished in the top 6,000 ---- I thought Obama was some kind of "hoops" expert??
I think Romney's a lot smarter than Obama and would have been a better leader for this country.
BP is next --- too cheap on a reserves basis and someone, somewhere is going to snap them up.
I would not hold my breath thinking the govt is going to get its CWA penalties under Ch 11 -- many courts don't even give penalties priority treatment over other claims or even basic administrative expense priority status.
Does anyone have any idea why Clueless Kerry is negotiating with the following after his very department deemed them as evil actors?
State Sponsors of Terrorism
Countries determined by the Secretary of State to have repeatedly provided support for acts of international terrorism are designated pursuant to three laws: section 6(j) of the Export Administration Act, section 40 of the Arms Export Control Act, and section 620A of the Foreign Assistance Act. Taken together, the four main categories of sanctions resulting from designation under these authorities include restrictions on U.S. foreign assistance; a ban on defense exports and sales; certain controls over exports of dual use items; and miscellaneous financial and other restrictions.
Designation under the above-referenced authorities also implicates other sanctions laws that penalize persons and countries engaging in certain trade with state sponsors. Currently there are four countries designated under these authorities: Cuba, Iran, Sudan, and Syria.
Country Designation Date
Cuba March 1, 1982
Iran January 19, 1984
Sudan August 12, 1993
Syria December 29, 1979
The other truly bogus development is the US' relinquishing control of the Iranian nuclear developments VERIFICATION to the totally useless and certifiably inept United Nations.
The good news is the Congress will completely block this nonsense later this year.
Obama is a LIAR and is pushing a very dangerous agenda with a nation on our State Department's "Sponsors of Terrorism" List (only one of four designated so worldwide) . Israel's HUMINT (human intelligence) inside Iran is better than ours and we're operating completely in the blind, playing with fire.
Apparently you (like most libs) are not keeping up with current events. Didn't you "tune in " when the White House Press Secretary was doing damage control / spin after the ministers from France, China, and Russia walked out of the negotiations when the deadline expired?
The post-deadline back-room "deal" was done ONE ON ONE by Clueless Kerry with Mr. Zarif
From yesterday's Wall Street Journal (written by some rather smart ex-CIA folks):
"Mr Zarif is also a loyal servant of Supreme Leader Ayatollah Ali Khamenei, who believes that the West, in particular the U.S., and Iran are locked in a “collision of evil and evil ways on one side and the path of . . . religious obedience and devotion on the other,” as he said in July 2014.
The supreme leader says the Islamic Republic has a divine calling to lead Muslims away from the West and its cultural sedition. The Obama administration has never adequately explained why Mr. Zarif’s relentlessly ideological boss would sell out a three-decade effort to develop nuclear weapons.
I call it the Planet Fitness mods --- trying to make the guns light enough so one can haul them around all day and not notice. Biggest tradeoff are the barrels --- many of the chrome lined, cold forged barrels are heavy (for good reasons --- easy of cleaning, resistance to corrosion, longevity) and I'd like to go stainless but that brings it own set of issues.
To save face and show Americans "progress" was being made on the Iranian Nuke Deal , Obama (again) went off the high dive with another new set of bold faced lies --
Mere minutes after the U.S. released a fact sheet that purportedly lays out what the basic framework agreed upon by the Iranian regime and P5+1 world powers entailed, Iranian officials accused the United States of misleading the public about its agreement. “The solutions are good for all, as they stand. There is no need to spin using ‘fact sheets’ so early on,” tweeted Iran’s foreign minister, Javad Zarif.
MOST, if not all of the countries involved WALKED OUT OF THE NEGOTIATIONS ---- how can (deeply character flawed) Obama claim this nonsense about a "deal"?
929s are not easy to find but I've seen several at gun shows, sites in the 950-1150 range. The gun certainly falls in the collectibles category with its finish, JM's signature, and quality. S&W may cap the production figures too which will also add to its future (potential) value.
Last time I checked Obama is the "Chief Executive" and it's his job to administer and safeguard taxpayer funds. Given his demonstrated lack of managerial and executive experience you can see why things are so gummed up.
You sound like a die hard liberal --- they generally like things loosey / goosey (no accountability) so they can seek out their next freebie from the feds.
Maybe the outrage from taxpayers might change it -- let's hope.
I'll let you in on a little clue ---- they've been hiring "private contractors" since day one ----centuries ago.
As for DOD's accounting system (which isn't even auditable) they don't track anything but the big programs (well documented) and you won't find that being taught at Booth or Wharton -- again, a federal govt gone completely rogue --- unaccountable to the taxpayer for the most part --- the essence of fraud, waste, and abuse by any measure.
No grasshopper === get your facts correct and simply peruse the fed's authorization/appropriation numbers and DHS spending accounts and you'll see what most consider obvious.
Now you understand why this Administration is "in bed" with Iran --- total policy botch job.
Not sure that's a germane question --- like asking who originally formed the US Govt ----so you can blame George Washington, John Adams, etc?
Reality is the feds are dumbing down badly and a institutionalized lack of accountability and responsibility pervades their ranks --- look at today's news about the Secretary of Defense (Carter) dumbing down enlisted standards to "attract" different people.
CNBC is reporting this morning about another of their major waste of taxpayer funds: a $1.5B "radio" system along the border that doesn't work and may have to be cancelled altogether.
Feds have no accountability, responsibility these days -- the federal govt is a case study in mismanagement, fraud, waste, and abuse.