OPEC To Sit Out The Inning
Saudi Arabia carries the big lumber at OPEC meetings. It is the largest oil producer in the cartel. Its government is one of the most stable, especially when contrasted to nations such as Venezuela.…
Energy
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The SEC has proposed new rules that would permit oil and gas companies to report possible and probable reserves as well as proved reserves when completing their annual 10-K. According to the agency, more…
Why OPEC Should Cut The Supply Of Crude
T. Boone Pickens is trying to pay off OPEC to cut production. That should raise oil prices and help his campaign to move US energy sources to wind and natural gas. Then Pickens can…
Ag, Commodities, Bubbles & The Recessionless Recession (XOM, BHP, ABX, BTU, POT, WMT)
The new mantra creating a deflating speculative bubble is taking a new twist. Even before Ospraie blew out its fund (and now after) there have been more rumors about commodity-related funds or commodity-stock related…
TEPPCO’s Multi-Year Lows on Increased Offering (TPP)
TEPPCO Partners, L.P. (NYSE:TPP) is under a bit of pressure after the energy logistics company has priced a secondary offering of 8,000,000 units. Last night this was listed as a pricing of 7.1 million…
BP (BP) And Russia: Trusting An Untrustful Partner
BP (BP) says it got what it wanted from negotiations with its Russian joint venture partner. in TNK-BP. There will be new independent directors and the current CEO will leave. There may even be…
Refining Cap-Ex, Shrinking or Being Diverted? (VLO, LEH, MRO)
Valero Energy (NYSE:VLO) today released a presentation it will be making at the Lehman Brothers (NYSE:LEH) Energy and Power Conference later this week. The presentation put a bit of meat on the bone of…
Las Vegas Lock Of The Week: OPEC Will Cut Production
Almost everyone with any schooling in the matter thinks that oil demand is dropping as the global economy slows. Hurricanes might take out some production, but that would be temporary and the government says…
Chesapeake Drilling for Cash? (CHK, BP, PXP)
Chesapeake Energy (CHK) announced today that it will create a joint venture with the US division of BP plc (BP) that will give BP a 25% stake in Chesapeake’s Fayetteville Shale assets in exchange…
Gustav And Oil Pricing’s New Calculus
Earlier this year, it did not take much to disrupt the price of oil and send it rocketing up. The market was inclined to believe that almost all news about crude was bad news.…
Gustav And OPEC Conspire To Alter Oil’s Math
With Gustav shutting most of the oil and gas production out of the Gulf of Mexico, it is unavoidable that prices for the commodities will rise. The US government will probably open the Strategic…
Gustav And $5 Gas
The media is trying to make the case that Hurricane Gustav could drive gas prices back up, perhaps beyond mid-year levels and toward $5. The argument is fairly simple. When Katrina hit the Gulf…
Will Gustav Raise or Lower Crude Prices? (XOM, RIG, RDS, COP, CVX)
Hurricanes Katrina and Rita in 2005 forced a halt to about 25% of US oil and natural gas production. Now Tropical Storm Gustav, which is predicted to gain hurricane status by the weekend, is…
Solar Powerhouses? (ENER, FSLR, SPWR, PCG, GM)
Energy Conversion Devices (NASDAQ:ENER) reported its fourth quarter and full year results this morning, and the stock is up more than 2% in early trading. It’s no wonder. EPS of $0.24 beat estimates of…
A Tiny Ray Of Hope In Russia (BP)
In the midst of the military and political fiasco in Georgia, it would be easy to believe that Russia could withdraw from a number of contracts it has with the West. It appears that…