OIL – Black gold, Texas tea!

By Gr8Full!, May 7, 2016

By popular demand here is our thread for OIL
Best2You4You – Benjamin

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41 Comments on " OIL – Black gold, Texas tea!"

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jayneq
Irregular
37
Speaking of oil, here is a link to a blog by David Haggith that I also scan: http://thegreatrecession.info/blog/central-banks-running-oil-market/ Please do go back and check out his other blog entries on oil (and other economy related topics). I think he presents a macro view along with solid points in a micro setting (USA) that makes sense, at least to me. Ultimately, oil, like gold, is subject to the whims of Central Bankers who are making up rules (and breaking others) at their whim. Markets will correct in time, but that time may cost us poor ordinary citizens plenty in the run.… Read more »
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frahman
Irregular
3
Thanks Ben for setting up an oil investing thread. The first thing that I would bring to your attention on this topic, folks, would be this very packed discussion on the coming credit crisis in the oil patch (ie there is much more pain to come, the oil crash has not played out yet), from the experts in resources – ie Sprott: http://sprottglobal.com/media/83563/february_-_oil_market_commentary.mp3 This three quarter hour talk merits listening to carefully when you’re not going to be distracted. Or listen more than once, as you’ll invariably find you missed stuff first time – it’s densely packed. I’ll try to… Read more »
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investor101
Irregular
32
Frahman looked at that stock the other day after you mentioned it, but didn’t buy any. I just didn’t consider it the best time to buy, everything is still falling. We are in the middle of all of this with our oilfield company here in LA. We do production work on the offshore rigs. We have had very few jobs since August of 2015. We are on very thin ice at the moment. Thank God we have NO debt! That is the only reason we have survived. There is going to be a great transfer of wealth. There are auctions… Read more »
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Sharon Schreiner
Irregular
2740

Ben, whatever you add to the coffee in the am …. keep doing it. 🙂 You’re great. Thanks for opening the thread.

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Bob
Guest
0
Until Exxon finds a way to make huge profits from the existence and thriving of electric cars oil will remain the main source of powering our cars. The Koch brothers who between them are worth north of 50 billion simply will shut down any attempt by the likes of Tesla Motors to reintroduce electric cars that Nikola Tesla knew in the early 1900s was the solution for that century and beyond. Hence, oil is here to stay and speculators can drive it up and down anytime they want. No, it is not OPEC, Russia, Saudis that dictate the price but… Read more »
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investor101
Irregular
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Truth sayer….I would like for you to expound upon the statement that within 5-7 years 50 % of US will be self employed? Hummmmm….is that the people on the govt dole? Agree about Exxon too. They were a horrible company to try to do business with. Would you believe that they would put on a function and then divide the cost among us contractors to pay for! ALSO…..those on the take are prevelant in this environment too! No longer do business with them period, as we don’t operate like this. Just wondering where integrity and morals of this country went… Read more »
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frahman
Irregular
3

Hey investor101 – Very cool to have an ‘oil industry insider’ like yourself here who can tell us stories ‘from the coalface’ as it were – I find them fascinating. On TEI – yes I agree (and hope) it will present a cheaper entry point later this year, maybe early next.

Kindest regards -fr

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investor101
Irregular
32
You are so right on the mark, Hendrix. Also Thanks Frahman for the sprott piece with Rick Rule, I just believe he is a very smart man and I like him. I was cut off midway by our son, LTC Army, 101st airborne now in Taji, Iraq. Technology can be a wonderful thing to allow us to see his face and talk to him, but breaks my heart every time. They are there for 9 mts, this is his 5th time over and I am sick of it all!!!!!!!! He said they are so undermanned it is a shame. Two… Read more »
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Sharon Schreiner
Irregular
2740

Going to electric cars may cause the price of oil to go down, but where will we get the extra energy needed to charge all the cars? Coal fired plants? Nuclear power plants? Gas fired power plants? I wish politics wasn’t so much a part of this as it is like a wild card. If the European union falls apart, individual nations may well scrap all the ‘green’ efforts as they rebuild their tattered economies.

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frahman
Irregular
3
Well, I guess every petrol car replaced by an electric car is one fewer petrol tank to fill – so that fuel can go to generate electricity for the power grid. But transport aside, there is a whole lot of other places modern society needs oil. In a weird way most of the food we eat is pumped out of the oil resevoirs: without the fertilizers produced from oil, farms would be growing but a fraction of what they currently produce. (So if oil were ever to run out suddenly, it could lead to famine.) Then there is the whole… Read more »
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frahman
Irregular
3

Sprott Resource’s CEO Steve Yuzpe on Q1 2016 Results — Earnings Call
On Sprott Resource Corp earnings call they discuss the oil market and more

http://edge.media-server.com/m/p/72v36mx3

(You don’t need to put your own email details in the registration page, you can give Mickey Mouse’s email address and can still listen !)

The transcript is available on Seeking Alpha: http://seekingalpha.com/a/2d6ga?p=djnw
But you need to register to get past the first page…

Long $SCP but been regretting it for a long time LoL

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jking1939
Member
1266
This morning from AFP: Global oil supply glut to ‘shrink dramatically’ this year: IEA A global oil glut that has sent prices tumbling is set to “shrink dramatically” later this year, as wildfires have disrupted Canada’s output and demand in India soars, the International Energy Agency (IEA) said Thursday. Demand for oil worldwide is set to grow at a “solid” rate in 2016, with India the “star performer” after making up nearly 30 percent of the global increase in demand in the first quarter of the year, the IEA said. “This provides further support for the argument that India is… Read more »
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jking1939
Member
1266

I spent three years immersed in the oil patch as a newbie. FWIW – I did find that the single most important news source was Michael Filloon at Seeking Alpha. I trusted his information like I trust Dr. KSS on our biotech thread, and HendrixNuzzles on precious metals.

jk

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jking1939
Member
1266

P.S. It goes without saying that at the top of the heap is Travis and his Thinkolator!

Very long and deep Stock Gumshoe.

jk

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Griffin
Irregular
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wpDiscuz