That should help to firm up oil prices
You don't realize that a professor doing research at either a private or public university is almost always doing so on a government grant. Learn the facts. The government controls the purse strings and the current administration supports global warming so any research money doled, and it is doled out in the BILLIONS, will be to support the contention that global warming existing. The facts be damned
Thanks for the post, good input. One thing that needs to be watched is that Bakken tends to be more loosely tied to Brent now than WTI as it must compete with Brent on the rail shipments to the east coast. The Chicago crack spreads are based on WTI and in Northern Tiers case don't tell the whole story.
Bakken needs to be about $17 under Brent to cover the transport costs to the east coast. That is causing the spread with WTI to widen
I picked up some shares of ALON, (ALDW) yesterday. Also looking to get back into Northern Tier. Both those guys will benefit big from falling oil prices i believe.
So giving billions in government grants only to scientist that support global warming is not purchasing their opinion. NO SUPPORT NO GRANT.
Gas down 6.2% since memorial day while crude is down 14%. That deference goes mostly to the refiner as a higher crack spread.
"he average is $3.428 a gallon, down 6.2 percent since Memorial Day on May 26, AAA data show. That’s the largest decline from the start of the summer driving season since 2008. U.S. refineries operated at the highest-ever seasonal rates every week since July 4.
Processors are using domestic crude that costs less than foreign imports as horizontal drilling and hydraulic fracturing in shale formations increased output to the most since 1986. Gasoline will drop another 10 to 20 cents a gallon by the end of October as retailers switch to cheaper winter-blend fuel, said Michael Green, a Washington-based spokesman for AAA, the largest U.S. motoring group.
“Refineries this summer were running at record-high levels due to the increase in domestic oil production,” Green said Sept. 4 by phone. “That has helped cushion U.S. consumers from many concerns overseas and helped to alleviate any price spikes this summer.”
Crude oil, which makes up about two-thirds the cost of gasoline at the pump, has fallen 14 percent since June 20. U.S. benchmark West Texas Intermediate settled at $91.67 a barrel compared with $98.04 for European Brent, the benchmark for more than half of the world’s oil."
I am long and will stay long but it may be some time before oil turns back up. Need to watch China and the middle east.
As someone noted earlier ISIS big goal is Saudi Arabia and with the Wahabi sect feeding the radicals their ideology don't rule it out
Just a reminder that winter is coming soon to the upper great plains. Those hooked into pipelines will be at a big advantage. Got to love Caliber
The Saudis are building a northern border fence to keep ISIS out. Wonder how that is going to work
"King Abdullah announced Friday the launch of the first stage of a border security program, covering 560 miles of the northern frontier"
Those trading shares are looking better today. Getting close to my sale point and that will give me 200 shares free. Put the balance back where it started
If you want to cherry pick data the winter and spring in the good old USA were among the coldest on record. The fact is the earths average temp has not warmed for 18 plus years
Willy, I like Whiting so I will most likely leave those shares there. I have sold some KOG and moved part to TPLM and some to Williams for the divy, WPZ
Also think about moving some to the refineries with the price of oil dropping that should help the crack spreads
Let's hope it has a positive effect on the share price. A little recognition for a job well done
I did nor see any questions or comments in the transcript regarding the Rockpile dividend. Did I miss this, if not I am curious why the analysts or the company would not have brought that up
Spdrama. The dividend payout coming after July 31st is also an issue as it is not included in the second qtr numbers