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Larry Smith

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  • Exxon files export application for Alaska LNG project [View news story]
    Gee thanks for sharing that. You know more than XOM and all the other major oil companies with their engineers and geologist, as well as the IEA and EIA. XOM is going to invest billions in multiple projects and we only have 15 years of natural gas left. Who knew! When you have time you should drop XOM a line, let them know of the erroneous ways.

    The word hubris comes to mind.
    Jul 21 06:35 PM | 3 Likes Like |Link to Comment
  • Column: Jeff Immelt is the American Canada needs to lead oil sands clean-up [View news story]
    Annoys me to no end that people comment on oil sands with no real knowledge of the operations and the extent to which some companies, like Exxon, go to limit environmental damage. Below are two videos that give you some idea the work they are doing to limit environmental damage.

    Jul 12 10:34 AM | 18 Likes Like |Link to Comment
  • Bakken shale explorers told to cut flaring or face crude caps [View news story]
    Texas has the pipeline and storage infrastructure to capture and use the gas, North Dakota does not. Until the infrastructure is there, it will be difficult to accomplish the cut.
    Jul 1 07:51 PM | 2 Likes Like |Link to Comment
  • Conversation on Coca-Cola takes a private twist [View news story]
    KO has a market cap of about $178 billion, he would have to pay a premium, probably a big one, to get KO, making the cost well over $180 billion, less the shares he owns.. That is too much for even Buffett. I think BNSF was a huge bite for him and that was around $40 billion.
    Jun 17 09:53 AM | 4 Likes Like |Link to Comment
  • U.S. Energy: Myths/Realities And The 2 Elephants In The Room [View article]

    Let me see if I can explain why I personally disagree with the climate scientist.

    First, scientist are wrong all the time. Scientist have been saying for a very long time we would run out of oil, they have been wrong. Scientist told us in the 70's we were headed for an ice age, they were wrong. Scientists look at data and make an assumption, in some cases two scientist can look at the same data and come to two completely different assumptions. Scientist have been wrong about global warming. James Lovelock one of the early climate scientist has admitted he was wrong.

    "Lovelock attributes his mistaken predictions to climate models that were primitive back twenty years ago. “The problem is we don’t know what the climate is doing. We thought we knew 20 years ago. That led to some alarmist books – mine included – because it looked clear-cut, but it hasn’t happened,” he said."

    Second, since earth began the climate has been changing, cold, warm, wet dry, etc. Is there some moderate climate change happening, probably, is that unusual, no.

    Third, one of my biggest objections is the claim every time there is a weather event that it is "climate change." We have a hurricane it is climate change, yet the majority of large destructive hurricanes were decades ago.

    Fourth, it is my belief that many climate scientist are really just anti-fossil fuel. They use climate change as a scare tactic to reduce fossil fuel use and promote renewable energy. After all, big oil is evil.

    Lastly, I have nothing against those that believe in climate change, that is there right, what bothers me is how smugly those that believe in climate change, led by our President, dismiss those that disagree.

    Thanks and have a good day.
    Jun 17 08:49 AM | Likes Like |Link to Comment
  • Exxon's Tillerson appears with Rosneft's Sechin at Moscow energy summit [View news story]
    Tlllerson has a fiduciary responsibility to protect the shareholders interests. Speaking at a conference in Russia won't change the path of what is occurring in the Ukraine one iota. No one would even know if it wasn't posted as a news story.
    Jun 16 02:14 PM | Likes Like |Link to Comment
  • U.S. Energy: Myths/Realities And The 2 Elephants In The Room [View article]
    Interesting article, appreciate the statistics.

    India and China are the two largest economies that will be increasing oil and gas consumption, but they will not be the only ones. Smaller economies like Viet Nam will also be increasing their use. Coal, being the cheapest energy fuel will also grow in developing economies while mature economies reduce use.

    Use of an alternative fuel for transportation is a long way off. The average age of cars on the road in the U.S. is about 11-years, thus, every car sold in 2014 is likely to be on the road in 2025. Battery power for over the road trucks and heavy equipment is not likely any time soon. Growing use of transportation in developing economies is likely to be gasoline powered, not battery. Therefore, with transportation growing throughout the world, gasoline, refined from oil, will continue to be needed for decades.

    Alternative fuels, ethanol, etc, simply cannot scale up to meet the world's transportation needs.

    The largest growth area in energy will be as a power source. Electricity use will grow quickly and although alternative fuel sources will grow quickly, it will not be near enough to meet the growth in world demand.

    Bottom line, we will need oil and natural gas for a very long time.
    Jun 16 08:55 AM | 4 Likes Like |Link to Comment
  • Report: Exxon may take over as Kashagan operator [View news story]
    That field has been nothing but trouble, since XOM is the best operator in the business, seems like a good idea to turn the operations over to them.
    Jun 6 08:13 AM | 2 Likes Like |Link to Comment
  • Kinder Morgan’s once surefire Trans Mountain plan now struggling [View news story]
    Enlighten yourself.
    Jun 5 08:51 PM | Likes Like |Link to Comment
  • Kinder Morgan’s once surefire Trans Mountain plan now struggling [View news story]
    You are entitled to your opinion, however, I invite you to watch the Exxon Kearl Project videos on YouTube. It shows the amount of effort that goes into returning the land to its original, or better, condition after mining is completed. Repairing soil, planting native trees and plants, repair of water ways, etc. You might be surprised.
    Jun 5 11:44 AM | Likes Like |Link to Comment
  • Kinder Morgan’s once surefire Trans Mountain plan now struggling [View news story]
    The Transmountain pipeline should not be as difficult as other projects because Kinder already owns the right away for the majority of the pipeline run. The naive environmentalist will use every tactic to stop anything related to oil. If they can find one land owner to sue, they will. However, I think the pipeline gets built.
    Jun 5 09:49 AM | 4 Likes Like |Link to Comment
  • Exxon Mobil's 570,000 Bakken Acres: Going Into Development Mode [View article]
    Very nice article Mike and I agree with your conclusion, sometimes patience is rewarded.

    Long XOM.
    Jun 2 03:07 PM | 1 Like Like |Link to Comment
  • Walgreen: Great Company, Terrible Price [View article]
    I bought WAG at $29.80, wrote an article on SA when I purchased it. I have sold 1/3rd of my shares as, like others, the yield dropped lower than I would like. I have debated selling the other 2/3rds, but do not see anything that makes me want to jump ship at this point.
    May 29 02:42 PM | Likes Like |Link to Comment
  • Soda tax fizzles in Illinois [View news story]
    LOL, excellent!
    May 28 09:34 AM | 1 Like Like |Link to Comment
  • McDonald's annual meeting: Arrests outside, cool confidence inside [View news story]
    Exactly what program or proposal that the President has initiated is responsible for those job gains, none. Where are jobs being created, oil and gas drilling, which the President hates, retail, and services. Here is a quote from the April employment report.

    "Employment gains were widespread, led by job growth
    in professional and business services, retail trade, food services and drinking places, and construction."

    Retail, food services and drinking places are not high paying jobs.

    Here is another quote

    "The civilian labor force dropped by 806,000 in April, following an increase of 503,000 in March. The labor force participation rate fell by 0.4 percentage point to 62.8 percent in April. The participation rate has shown no clear trend in recent months and currently is the same as it was this past October. The employment-population ratio showed no change over the month (58.9 percent) and has changed little over the year. (See table A-1.)"

    So somewhere between 58% and 62% of adults are working. Note that they state, the employment-population ratio is little changed over the last year.

    Lastly, public sector is not cutting jobs, here is the quote from the April report

    "Employment in other major industries, including manufacturing, transportation and warehousing, information, financial activities, and government, changed little over the month."

    And the March report.

    "Employment in government was unchanged in March. A decline of 9,000 jobs in federal government was mostly offset by an increase of 8,000 jobs in local government, excluding education"

    We don't need smaller Government, just better Government.
    May 23 09:32 AM | Likes Like |Link to Comment