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“George Bush’s Secret Retirement Legacy”

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We haven’t covered the 12% Letter in these pages for a few months, if memory serves, so I was pleased to get several questions from readers about their latest teaser for the “secret retirement legacy” that’s apparently been offered up by George Bush (the dumber one, not the older one).

Did I just type that out loud. Geez, sorry. He can call me a dummy too, if he wants — he wouldn’t be the first.

But anyway, Dan Ferris, is teasing us about a special secret from the former President, one that will get you income from a company that he calls “King Shale.” If you don’t know any of the background of this one, Ferris took over the 12% Letter a couple years ago and generally focuses on value investments and, at least in this letter (he also edits the more “aggressive” value-focused letter Extreme Value), on solid dividend growth stocks that can compound your interest and offer an (eventually) high rate of return with relatively conservative “World Dominator” companies.

Not the kind of thing that generally lends itself to sexy teaser stories, but probably the sort of thing most of us should be doing with our money — and in the hands of the right copywriter, with a touch of secret intrigue and a hallucinatory vision of mailboxes filling up with checks, even a stolid dividend growth stock can be enticing.

So what’s he teasing here?

Well, as you can probably guess from the “King Shale” reference, he’s teasing shale gas — which isn’t anything new to the great galloping hordes of Gumshoedom or to anyone else in the United States. The Bush reference is that he simplified matters for shale drillers during his time in office, and helped the industry with some regulations near the end of his term that helped them avoid stringent oversight and pay unusually small royalties for drilling on federal land. I don’t know how much of this is true or important to the argument, but certainly you can make a convincing argument that the Cheney-led White House was as informed on the desires of energy companies as any in history.

Here’s how Ferris describes it in his teaser ad:

“The details of the deal quietly became public when Bush took over for a second term in 2005.

“In short: Bush, Cheney, and their contacts at select energy firms helped craft key legislation to exempt the fracking process from certain rules and regulations.

“For example…

** They made sure these energy firms didn’t have to get certain cumbersome permits for their production facilities from federal authorities.

** They also made sure these firms didn’t have to pay the government to drill gas wells.

** Most importantly, they passed a law exempting important aspects of the shale fracking process from federal oversight.

“In other words, energy firms got a free pass to use this new technology… Without excessive government scrutiny.

“It was a ‘push to make oil-shale research and development as attractive as possible in the face of high costs and uncertain payoffs,’ the L.A. Times later reported.

“Of course, the whole deal was hardly surprising considering energy firms contributed more than $20 million to Republican political campaigns during the 2004 election cycle, according to Opensecrets.org.

“But what’s more… Just days before leaving office, Bush inked a few more deals with energy firms. This time, he set lucrative royalty rates on federally-owned shale fields.

“Essentially, Bush gave these firms the right to keep 95% of whatever money they make from federal shale.

“In other words, the government gets just 5% of production revenue. According to critics, this rate is ‘well below the federal average for oil and gas royalties.’”

So that’s the backdrop, these “secret” deals lead to more profits for shale producers. What does one do with that idea if they want to make money?

Here’s what Ferris says:

“Quite simply, I believe the best way to collect steady income checks right now is to get in on the ‘IBM’ of shale gas. This company could see its profits soar more than others as cheap natural gas replaces other energy sources over the next few decades.

“The interesting thing is: This business offers a unique income program that could pay you 10 to 20 times more income – over the long term – than traditional investments.

“Once you sign up for this program, you could forget about your investment for the next decade.”

And yes, this “IBM of Shale Gas” is also what Ferris refers to as “King Shale.” Here’s how he teases the specific investment:

“‘Today, it’s the undisputed king of undeveloped natural gas,’ says one geologist… Which is why, for the purposes of this presentation, I’m going to call this company ‘King Shale.’

“Because King Shale operates in almost all the richest shale plays in North America… almost no other independent natural gas firm can match its production in terms of volume.

“The company employs what it calls the ‘gas factory’ technique to maximize production.

“Remember the breakthrough technique called horizontal drilling that Bush gave energy firms a free pass to use? Well, King Shale has been using it to drill 8 TIMES as much gas from a single location, compared to traditional drillers.

“And because it operates across so many locations, it has developed economies of scale. In other words, King Shale can drill more locations at lower costs.”

Well, I imagine the “undisputed king of undeveloped natural gas” is a moniker that was applied to the stock by one of Ferris’ colleagues, Stansberry’s geology guy Matt Badiali, who runs a couple newsletters and has focused quite a bit over the years on companies that are “hoarding” natural resources … and the company that’s being teased here is, despite the George Bush teasing, a Canadian firm, Encana (ECA in both NY and Toronto).

And Encana is indeed a big ol’ natural gas company — though like pretty much all the natural gas companies, they are focused on upping their exposure to natural gas liquids (NGLs) and oil as well, given the weak pricing for gas. The company had been built up into a diversified oil and gas exploration and production firm as of several years ago, but split into two companies a few years back when Cenovus was spun off to be their separate oil-focused firm.

And ECA is a good yielder, like many energy stocks but unlike most natural gas producers — and a pretty conservative company as far as I can tell. They definitely have seen a very weak share price in recent years, but it’s been because they’re in a lousy business, not because they’re necessarily doing anything wrong.

Part of Ferris’ argument is that natural gas is getting so cheap that it’s going to reshape the way America does business, much like the cheap oil from Spindletop did as it weaned us off of expensive whale oil 110 years ago and paved the way for automobiles and the American Century. And contrary to the popular understanding that cheap gas is bad for gas companies, Ferris intimates that cheap gas will popularize gas, make it more critical, and lead to massive profits for the gas owners and the best gas developers. Of which Encana is probably one, and it’s the one that I’d probably be most comfortable with when compared to other nat gas majors like Chesapeake (CHK), which tend to play with fire a bit more than the relatively staid ECA.

And the special way that you can participate and get extra-big payouts over the next dozen years? I’d wager that Ferris is simply again teasing the idea of direct investment and dividend reinvestment — every now and then the 12% letter pitches the idea of Dividend ReInvestment Plans (DRIPs) as a special way to bypass Wall Street and let your money build by buying direct from the company. DRIPs that are administered through the company’s own transfer agents (meaning, you buy direct with a separate plan for each stock) are becoming a bit of an anachronism in the days of discount brokerages, free dividend reinvestment by those brokerages, and easy odd-lot trading that make most of the advantages of direct investing disappear, but there is still an argument to be made for buying direct for some folks (especially in those cases, and they’re quite rare, where you get a discount from the company for using their DRIP plan — usually a discount that materializes as reinvesting that dividend at a 5% or similar break to the current share price).

So there you have it — George Bush’s “secret legacy” was a boon to early shale drillers, and the “King Shale” company that Ferris is touting is Encana, and the secret way to boost your income from Encana is to … reinvest those dividends for a decade or more and watch them rise in value, with the compounding and the general tendency of ECA to lift its dividend over time both working in your favor (ECA’s current yield is 4%, so that’s nothing to sneeze at, either, and they haven’t cut it yet even with low gas prices).

Will that work out for you? It’s hard to say — ECA is pretty cheap even for their sector, trading at a reasonable multiple of book value and with a huge footprint that does indeed touch on most of the key shale gas areas in North America, and they are probably in better shape for low gas prices than are the riskier players in the space, and a large enough size that they do have some economies of scale (including that “natural gas factory” strategy that basically tries to bring a manufacturing focus on costs to the drilling and production process) … but you do still probably have to believe that natural gas pricing will become more solid in the years to come if you’re going to argue that ECA will be an outperformer over the next few years. They are, after all, very sensitive to nat gas prices, to the extent that they’ve already said they’ll hold back on some production in an attempt to boost pricing this year. So whaddya think? Ready to pile on for some ECA and make a contrarian bet on nat gas, or do the predictions of gas dropping under $2 and staying there have you scared off? let us know with a comment below.

P.S. If you’re looking for one of those secondary teases he made in that same letter, the “Toronto Income Secret,” that looks like it must be a rehash of a teaser he sent out last year — you can see my original article about that one here (and no, that one has almost nothing to do with natural gas … or oil, for that matter).

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43 Responses to “George Bush’s Secret Retirement Legacy”

  1. As an alternative, hows about T.SPB Superior Propane @ $7.50 up from $6 and change a couple of months ago and with a .60 dividend. They have made a few changes recently to shore up their share price.
    Open 7.44
    Previous Close 7.47
    High 7.63
    Low 7.43
    Bid 7.50 x10
    Ask 7.52 x20
    Volume 148,777
    52-week High 11.85 05/26
    52-week Low 5.21 11/30
    Beta 1.203
    Market Cap 827.68M
    EPS -2.75
    P/E n/a
    Forward P/E 10.83
    PEG n/a
    Annual Dividend 0.60
    Yield 8.00

    Encana
    T.ECA is trading at $19.84 with a div of .79.
    Open 19.84
    Previous Close 19.60
    High 19.84
    Low 19.16
    Bid 19.16 x38
    Ask 19.17 x41
    Volume 2,009,998
    52-week High 33.99 04/05
    52-week Low 17.25 01/16
    Beta 1.443
    Market Cap 14,431.48M
    EPS 0.17
    P/E 112.71
    Forward P/E 494.80
    PEG n/a
    Annual Dividend 0.79
    Yield 4.00

  2. George Dubya Bush’s legacy is DEBT and a plethora of it. He made the federal government the astronomical BLACK HOLE of DEBT. It sucks in financial value and destroys it in darkness, never to be seen again. It pulls in everything outside itself and compresses it into nothingness.

    As far as Encana goes, you will have to hold your breath a long time, until nat gas prices rise. They are likely to fall before they rise. Sure, no one knows when they will start to rise, and the rise might be abrupt, but we do know it will not happen soon. Dan Ferris has been plugging Encana for a long time. I’m down 30% on the Encana I bought on his recommendation, not counting dividends (which are substantial). Nothing to brag about here, Dan, no thanks very much.

  3. Nat gas someday! Probably yes. Not soon enough for current investment, unless your shorting to the “dollar” price point range.

  4. Anything coming from Bush should be taken with a grain of salt. This guy has literally completed the destruction of the USA started under Reagan. A black hole, that is exact. So, I will pass.

    • Spoken like a true Democrat. Who is responsible for our current debt fiasco? I guess you are still blaming George “W” Bush.

      • Indubitably, the evil idiot George Bush is resposnible for all of society’s ills and the tea party
        SCOTUS dares consider ruling the most wonderful Obamacare unconstitutional, because of evil rethuglican judicial activism. Of course Bwaney Fwank, Chris Dodd and Sen. Urkel Obama
        tried to rein in Ginny Mae and Freddy Mac by taking large sums in donations from them. The Nancy Pelosi controlled Congress from ’06 on was totally blameless in spending large sums of money. At least now since we have not had any budget since Obama has been in office, we realize that Obama stimulus and kickbacks and investments in Green boondoggles have prevented our great country from sinking into a real abyss, despite republican obstructionism. I am pleased that our possibly greatest POTUS of all time (his claim) recognizes the white racism endemic in many areas of life. Statistics lie and if blacks do commit crimes against whites at nine times the rate whites commit crimes against blacks, it must be because we don’t spend enough money on education, food stamps and other welfare programs. Anyway the stock market is doing well and the dollar is getting stronger. The unemployment rate is far lower than under Bush and those evil Israelis are responsible for high gas prices (this admin.just said so). I don’t know why the Fed and Treasury don’t just pump enough dollars to make us all millionaires.

          • Kenneth and Mike: You would not know up from down. Debt
            is debt. I do care who says I am too stupid to know how to
            spend it. The idea of paying more taxes just to give it to an
            individual who can’t manage their money is plain WRONG.
            China’s GDP has surpassed ours already and that was not
            supposed to happen until 2016. We are up to our eyeballs
            in debt to the Chinese. Yeah, who is your daddy now!

        • What a load-seriously-while Geoge Bush definately did not help matters, Clinton started this by allowing foriegn investors to get involved in the US mortgage business and writing buttlods of home loans that no one else would have touched but had to or go out of business. Next Obama while being a Constitutional lawyer and professor (supposedly) must have missed the part where the government (not a quote for you smart butts out there) shall not be allowed to require its citizens to purchase goods or services. You want the govenment to provide you with condoms, birth control, food, shelter and i guess clothes and everything else–wake up has to be paid for some how. As for Obama care his own people have said the bill had to be passed just to know what was in it-now they see-17 trillion in additional expense a 15 member panel of unelected persons whose job is to determine whether certain care for people will be allowed or not based on that persons future output to society–hmmm yep sounds great so far. frickin idiots

  5. Obama is for the most part, other than Supreme Court nominees, a continuation of Bush. Only with more gusto to actually get Bin laden.

    That being said, we’re here to look for ideas. Encana is worth looking into. Thanks Travis. (greedy pinko. Too lazy to sign in)

  6. I am intrigued that ECA is buying into a LNG export facility. I am not expecting the price of natural gas to go up anytime soon, but ECA is good at hedging and it will be interesting to see what happens when the LNG export market actually makes some headway. I think if you were willing to be patient and collect some dividends this could be a good trade, although I might wait for a pullback in the markets before buying.

  7. Seems as if this site has become a refuge for political partisans. Me, I’m nonpartisan. All political types are accompanied by disasters.

    That said, we’re not talking politic here. We’re considering an evidently well run business, Encana, which may be in a slow period, but my suspicion is that this NG and LNG are have solid futures with most factors pointing up. Admittedly, 4% dividend is not great, given that inflation is near 10%, but natural gas just may shield an investment from the ravages of zero interest rate caused inflation.

    • I’m with you. I’ve had my fill of bi-partisan bullshit. As for ECA, they do own 30% of the
      proposed Kitmat LNG export facility, now in development near Vancouver, and set to
      target Asia. There’s a good possibility that ECA could beat beat Cheniere’s project to the
      punch.

    • Official inflation is only 2%. Unofficially, it’s more like 5%, not 10%. Let’s not make things worse than they are! 2% compounded annually is still enough to cut your savings in half in just a few years. We’re all adults here. We can remember back to when gas was only $2.00/gal. It wasn’t that long ago. Now it’s $3.50 down for the summer from over $4.00. Gas stations should post a sign under their prices “Your Federal Reserve at Work!”.

      I agree with you about politics. Both parties were co-opted a long time ago and now it makes no difference if you vote for Tweedle-dee or Tweedle-dum. They know nothing. They control nothing. The 1% does whatever they want and the rest of us have to live with the results. Might as well vote for who smiles better.

  8. Boy, nothing inspires some ardent commenting and responses like teasing a prominent political figure!

    For what it’s worth, after 40+ years of insisting that only politicians who promise us everything and ask us to sacrifice nothing will get our votes … and pushing that trend ever further in the wrong direction in every election, the biggest dummies are the ones who we see when we look in the mirror. As Walt Kelly put it, “we have met the enemy and he is us.”

      • The enemies are all the people who have decided to let the few run the government by not going to the polling booth and voting. The only time your vote does not count is wheen you don’t cast it. If you don’t like the choices; get involved. We need to before those of us who know what the Constitution and the Declaration of Independence actually say are gone and the only ones left are those who have been schooled to accept what the regimes tell them.
        I apologize, I wasn’t going to get into this; but, I am sick to death of teaching college and university classes to persons who sound like the only thing they have heard about the government are what they have read on blogs and have never read much less reread the Constitution or the Declaration of Independence. They assumed what was in it and were surprised to find that some things they were told was it actually are not.
        We need to take our country back before China calls in its debt and we are their slaves.

  9. A Couple of comments about ECA and the natural gas discussion. The EPA was blocked by Bush,from using the “Clean Air and Water” regulations to inhibit “fracking”. EPA, bless their little commie heart just lost a federal court case they tried to bring against an exploration company for water pollution. The flood of shale oil & gas that is now driving the price of natural gas below $2.15. So where is this flood of natural gas going- how about cheaper, cleaner electric generating power plants and the there is the natural gas truck engines that is beginning to replace diesel powered trucks.
    One more point, not only is Canada building an export terminal for natural gas but two are being built by American companies. One by Dominion Energy (D) in Baltimore and one in where?-why Texas of course by Cheniere Energy ( LNG). And why Cat, is that interesting. Well Japan and Asian countries are paying $16 for natural gas to fuel their power plant and Japan is not going to be building newnuclearr power plants for a while.
    For what its worth.

    • There are no shortages of LNG projects currently serving Asia, with LNG exports coming from Indonesia, Malysia, Australia, and Russia. The same is true in Europe. The US and
      Canadian projects could well threaten to transfer their natural gas glut to the rest of
      the world.

    • True, but now with the change in regime such that the EPA has a free hand, we cannot even come up with an agreement with our closest friend and neighbor. However, Canada is going to sell their oil, watch out NG is next with the Vancouver port, to China. So, China buys Canadian oil to fuel their manufacturing of product (that we gave them the technology and manufacturing processes to copy) in an environmentally polluted (so polluted that people wear masks every day to breathe) (which then hits our West coast and we have to clean up to meet our EPA standards – let’s go after business and vehicle production again) country using labor practices which have been outlawed in the US for almost a century. The product thus produced will be sold to us, because it is so much cheaper than what a US manufacturer can do. We will buy it with dollars that either the government has given us for not working (whether we could or not); we have earned illegally (until the government decided to give the illegals amnesty (Why should they follow the law?)) or for those of us who are blessed to be able to do so we have earned by the sweat of our brow or the exercise of our brain. Most of that money we just spent goes back to China which they use to buy our debt, which in their culture is the method to enslave a person or a people. (The holder of a debt is the master of the debtor who is a slave to the master. Check their behavior after WWII with regard to erasing their debt.) We pay taxes, those of us who are working to earn the money we spent which goes to a government which makes it harder and harder to do business in the US and spends as though there is no tomorrow, when the debt must be paid, borrowing the money from….China! They are not the only holders of our debt; but they are the largest.
      By the way, do you now that the EPA is currently working to outlaw ice makers in refrigerators with freezers in the home? Can you guess why? They use too much energy. Get out of my house, EPA!

  10. I’d be offended at being called an idiot but I voted for jimmy Carter. You’re correct Travis. We all need to look inthe mirror.

    • Good for you. A lot of people voted for him. He was a disaster which is nothing compared to the current disaster. However, you voted.
      We don’t have to agree. We have to talk, discuss and learn from each other and history. Then we have to act. Each of us no matter what can vote. At a minimum, vote. It gives you the right to crab about the person elected for four years whether you voted for them or not.

  11. That was hilarious. I’m still amazed at how many people who claim to be smart still defend Obama’s poor policies.

  12. Nat gas is going to suffer low prices for the forseeable future. Nat gas is also the fuel of the future. Money to be made is in the pipelines. The cost of transmitting gas is independant of the price of gas. The volume of production is creating huge demand for transmission and, yes storage, until stoarge becomes available. Meanwhile, the meter keeps ticking. I prefer the MLPs available. I prefer the ETFs such as the biggie, AMLP and the closed end MLP Tortoise, TYG. Big differences in tax reporting of individual and ETF or funded MLP. Again, when will the money desperate administration decide that MLPs are unfair and not paying their share?

  13. So, working in the oil industry (refining) for the past 35 years has led me to these conclusions. Natural gas will indeed fuel more vehicles in the US because of price per mile delivered; already existing infrastucture to distribute it, and abundance of it locally. This makes CLNE, or any other company that can get Nat gas pumps added to your local walmart rich. As far as the US exporting it, indeed LNG is planning on building an export facility ( in Lousiana, not Texas), but Kinder Morgan already has one here on the scenic Mississippi Gulf Coast (that is actually sitting there idle). It’s pupose was to be an offload station for all that cheap LNG that was supposed to come from Australia, but now, there is no demand for imported Nat gas, as well as no price structure to support it. As long as everybody and there brother is drilling and fracking, nat gas will remain low cost. The key is to figure out who can get it to the masses, economically! Westport innovations got in early on that deal.

    • I agree but I think nat. gas will dominate other areas too. It will also beat out coal and nuclear in power generating plants. The former CEO of Exelon, the largest US nuclear power company is on record as saying that anyone who wanted to invest in a nuclear
      plant in this era of low cost gas needs to have his head examined. He also believes that coal fired plants are on their way out in America. Already petrochemical companies are
      switching over to gas liquids and will become one of the most profitable industries on
      the back of cheap gas.

      • Here in San Diego, Sempra is our electricity provider, and they’re using their Natural Gas to generate. The city busses also run on Natural Gas. (Yeah, no pollution.) It makes sense to buy into the fleet owners (like fedex) that have been and are converting their fleets to Natural Gas.

    • Thats right, the LNG facility is in Louisiana. Close enough to Texas for those pipeline to get all that Eagle Ford nat gas to the export market at a competitive price. I think I saw that Blackrock put a couple of billion into Cheniere so they must think there is a good possibility of making some money in nat gas.
      I find it very interesting that the Administration is taking credit for all the increase in oil and gas production when all the new production is coming from Private land – no federal drilling permits have been issued for drilling on Federally controlled land since the oil spill.

  14. If you have any questions about Stansberry and Associates, please do not hesitate to call customer service at 1-888-261-2693. We would be happy to assist you. We are open Monday – Friday 9-5 EST.

  15. forgot this one–Obama did not get Osama Cia had him narrowed down to that region for about 2 years, but as usual politics got involved, congratulate the ppl that capped him not the posers

  16. Dear Gumshoe,
    I found you by googling Dan Ferris who I somehow tripped over while researching somestocks in the early hours of the morning. I listened to the whole boring song and dance about how I could make all kinds of money in the oversaturated natural gas market. I listened to his sales pitch for his 12% newsletter, which like the dumb money sucker that I am I subscribed to, and the even more unreal sales pitch for his $1000 newsletter. I admit I was tempted, but reason saved me. I remembered if it sounds too good to be true then it is. I’m so glad I found your site. You are performing a kindness helping people to hang on to their hard earned money and make intelligent investments. I have found much wisdom in your critiques and your readers’ comments. Thank you to you and to them.

  17. How about investing in the companies that are building out the infrastructure. The old picks and shovels, for those going west in search of gold. Would that be companies like Halliburton – HAL ? The stock is about the same place as two years ago $33. Same story with SLB. With BHI down -20%. The only good news is TKPPY.PK up almost 40%. in the same two year period. Please add your input to these ideas.

    • As Timothy Colmerauer says above, “The key is to figure out who can get it to the masses, economically!” America has an energy plan, it just hasn’t told its citizens what it is. The plan is clearly to deliver low priced US and Canadian energy to high priced markets in Asia in exchange for Asian manufactured goods. That will give the US a high-value commodity to trade with Asia, rather than merely buying their products and having them reinvest the proceeds in our bonds. If it works, it could help reverse our enormous trade deficit.
       To do that requires a massive and multi-year build out of infrastructure to get our goods to Asian markets, while also enablling the US to make better use of energy in domestic power generation and transportation, creating a massive construction boom over the next number of years.
      If so, the big payoff for investors will be in the build-out of the infrastructure.

  18. The several posts blaming W for today’s economic disaster is a riot. When will these people stop drinking Obama’s Kool Aid?

  19. I sign in to figure out the get rich fairy tale, and I get a dose of hostility toward George the Younger. I must be in the twlight zone. Encana is a good investment…but not right now. In fact, not much is. As the market goes towardd 14000, I will wait till The Bernake person sops making the ocrappo person a multi-millionaire. When he does crash the market, I want cash in hand.

  20. I would like to torpedo all of these imbecilic energy plans:…..Hydrogen, Ethanol from corn, fusion….and see more projects that make Natural Gas, and Solar available to industry and the public. Nuclear is dead…….per Chernobyl, 3-Mile Island and now Japan….
    Hydrogen will never be realized…….it blows up ( The Hindenberg in the 1930s killed the Airship as transportation) and Liquid Hydrogen will never work,.. cryogenics boils off, I know I have worked with Liquid Nitrogen and the coldest substance there is,.. Liquid Helium.
    Ethanol from corn………………is political pork barrel to the corn growers….
    The infra structure is for liquid fuel for cars and trucks. I am allowing for some way to use Natural Gas, but saw the documentary about “fracking” to get gas…..can we afford to pollute our water?……NO….!!…It also takes millions of gallons to “frack” a well.
    Solar power from space, has been engineered since the 1970s. Unfortunately with NASA, making 20-30 year plans, to build a lousy space station or moon station…we shall never have Solar, from Space, to send to USA and later to sell to the world. The Russians sold space on their space stations, made almost $100 million. NASA spends $100 on the benefits and produces NOTHING. The Shuttle was ” retired” because it cost over $100 billion versus the $20 billion that was budgeted, and the Space Station is almost at $50 billion when it was supposed to come in at $8 billion….so we can only get “free” solar if it s from private companies…..not the government.
    Comments about getting fuel to the public for cars and trucks would be appreciated….I want to invest in an infra structure company….barbuto@optonline.net
    Thanks

  21. Fracking will not continue to use millions of gallons of water. Already there is development by Gasfrac Energy Services to “cleanfrac” with a petroleum product that leaves virtually no unusable waste. Check it out.

    • Problem is GSFVF is a falling knife right now and who knows where the bottom is? A shorter over on yahoo message board enumerated the numerous problems the company faces. Dwight Loree cashed out and left the new management in quite the hole.

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