The moaning and groaning doesn't HELP! Unless ... that moaning and groaning is to discourage readers in the hope it'll drive the stock price down ( Do I hear the wimper of shorts about to lose their shirts ?? ) [more]
** By the numbers. Fundamentals first, charts second, then crunch the news - international and USA. I am looking for a rally, that's in the numbers for next week. A big rally. The SEC restricted short sales in selected financials, leaving hedge funds open to short everything else ... those short positions now represent a HUGE liability for any fund that can't cover fast enough. ANY THING can start that rally, like one or more countries lowering interest rates and/or spending billions on infrastructure. Watch for it. [more]
IEA doesn't see peak oil by 2030 but warns of under-investment (5 minutes ago)
The IEA report is nice to know but reality is this: The USA. despite having a 200 mile economic coastal zone, as agreed upon and based on international law, has chosen to ban drilling. so, therefore, whatever's out there is as yet unknown. By the time drilling is authorised, it'll take 10 - 12 years to search out, test drill, and put into production. The US Energy Information Administration (US EIA), the US Department of Energy (US DOE), and the U.S. Geological Survey are aware, and have been aware for decades, of a huge USA land based crude field they call the Bakken. Go to the US EIA website amd check it out. It also has pictures and an estimate of the recoverable crude believed to be there. Years past technology wasn't able to recover that crude, except technology has caught up.
Oh yeah, while you're reading the US EIA weekly crude report, check out this page: [more]
China just decided to spend $585 billion on INTERNAL construction, etc over the next two years.. China's getting it. That's what we need here. Build the energy infrastructure we need for the future, NOW, put people to work, at good jobs. Working people will be able to feed their families, pay their bills, and in so far as working people are taxpayers, they'll help pay down the billions in loans that went out and don't seem to be doing anything yet. Get the USA off the foreign oil habit and into energy self sufficiency. [more]
* I am simply amazed at the hedge fund cry babies. * The whole world financial melt down is on them and on the governments that allowed them to operate in secrecy, and the FORCED liquidation that excerbated a bad situation going to worse as their holders wanted OUT. I strongly believe all hedge funds must be ordered to be a publically traded stock, with ALL the reporting requirements, like closed end funds (CEFs), or ETFs. If you do not want people of limited means putting money in, then make the shares expensive like BRK/A and BRK/B, Warren Buffett's Berkshire Hathaway. By making the hedge funds publically traded, investors can place buy and sell orders, so if a holder wants to get out, the hedge funds don't have to liquidate positions to fund exits.
** Further more, hedge funds should NOT be buying, selling, hedging, or speculating in commodites that are needed to feed the global population, or crude, home heating oil, diesel, gasoline, etc ... If you are to trade in those commodities, you should have to show ownership of facilities capable of taking delivery of the commodities to be traded. Everyone without facilities, should be labeled as a speculator. If speculation trading in those basic commodities is to be allowed, it should be strictly limited. [more]
Worlwide demand is down. Refiners don't feel pressured to order more crude as they no doubt feel they can work from what's in inventory and by doing so pressure crude down to $40-50 per barrel. If crude does drop to $40-50 per barrel, I believe the memory of $147 per barrel crude will encourage refiners to build inventory as a hedge against the threat of rising prices, and/or to seek long term contracts in that range. Unfortunately, that range is not beneficial to the Canadian Oil Sands group. OPEC may be willing to go along with long term contracts to undermine alternative energy developement. We certainly need to continue with that alternative energy developement to keep OPEC and the hedge funds from running the prices thru the roof again. [more]