Seeking Alpha

Michael Fitzsimmons

 
View as an RSS Feed
View Michael Fitzsimmons' Comments BY TICKER:
Latest  |  Highest rated
  • King Coal Takes Another Blow To The Head [View article]
    Thank you Holt and TnT and I appreciate you guys reading my articles.
    Nov 16, 2013. 04:48 PM | 2 Likes Like |Link to Comment
  • King Coal Takes Another Blow To The Head [View article]
    pfifla1: I appreciate your comment and understand your perspective. I am the first one to admit no fuel is perfect, and nat gas isn't either. However, energy policy requires pragmatism - something that is found in short supply in the US these days. When some bad operators in Pennsylvania were dumping fracking fluids in fresh water rivers and creeks, I pushed, very early on, for strong Federal regulation of fracking fluids - both in terms of deployment and disposal. This won me no friends in the nat gas industry. Have problems been encountered? Absolutely. Could strong regulations and enforcement make things much better - of course. Is it happening? Not as much as I would like to see. Still, we must measure natural gas in its totality with our other options. We know what burning coal does: it emits 50% more CO2 than natural gas, and 100% more toxic particulates. Then, after all that, we are still left with the fly-ash storage problem (see pictures above). And there are hundreds, perhaps thousands, of these fly-ash storage sites all over the country. So when you talk about drinking water, nothing in the US has more adversely affected fresh water drinking supplies than has the burning of coal. In fact, in most states now, it is not safe to eat fish in coming from any river, creek, or lake due to the high content of heavy metals - principally mercury, but others too. And of course mercury is found in nearly all municipal fresh water drinking supplies across the country. If you have a clean fresh water well where you live, you are fortunate. I wish I had one where I live.

    In addition to electric pwr generation. we could be using natural gas for transportation, where once again the CO2 emission savings are huge: ~30% less than gasoline and diesel, and a 100% savings on toxic particulates (smog that people breathe).

    So while no fuel is perfect (other than sunlight and pure hydrogen), we have to be pragmatic and consider what we can do now until we get to a cleaner future (solar, wind, hydrogen) without cratering the economy in the meantime and while trying to reduce the burning of coal and oil. If you have a better alternative, I am all ears. One thing is for sure on all these matters, the EPA is MIA, and this is true no matter which dysfunctional party is in the White House.
    Nov 16, 2013. 10:52 AM | 6 Likes Like |Link to Comment
  • Why Did Buffett Reduce ConocoPhillips Stake And Add Exxon Mobil? [View article]
    Sounds good to me Scotty!
    Nov 16, 2013. 09:18 AM | Likes Like |Link to Comment
  • Biofuels defenders blast EPA plan to cut ethanol mandate [View news story]
    Green Plains (GPRE) CEO Todd Becker calls the prospect of the U.S. turning away from a cheap and domestically produced fuel source "disgraceful."

    He's right - but the fuel we are turning away is natural gas! Why in the world is the government enforcing ethanol mandates of any size at all when we have abundant, clean, and cheap natural gas coming out our ears!

    The solution is natural gas transportation, not the massive distortions (i.e. inflation) across the entire food chain for using corn in our tanks. The ethanol mandates rank right up there with the billions blown on "clean coal" (an oxymoron if ever there was one) as examples of US government energy "policy" gone awry. Meanwhile, the obvious solution (natural gas transportation) get little more than lip service from Washington. What a country.
    Nov 16, 2013. 08:56 AM | 6 Likes Like |Link to Comment
  • Why Did Buffett Reduce ConocoPhillips Stake And Add Exxon Mobil? [View article]
    Haha, well - if I had that kind of access to Warren Buffet and Joe Biden, I doubt seriously I'd risk it by writing articles on SA.
    Nov 16, 2013. 08:45 AM | Likes Like |Link to Comment
  • Why Did Buffett Reduce ConocoPhillips Stake And Add Exxon Mobil? [View article]
    Actually, he's done very well with PSX and COP.
    Nov 16, 2013. 08:43 AM | Likes Like |Link to Comment
  • Why Did Buffett Reduce ConocoPhillips Stake And Add Exxon Mobil? [View article]
    Yes they did, and Mulva was criticized for the purchase and the stock took a beating. But look at how COP reacted to it. They took a big write down on it, then went to work for the shareholders - selling off non-core assets, spinning off PSX, and focusing the business on strategic production initiatives like the Eagle Ford. And all along paying a nice dividend to shareholders. Look at COP today - a revitalized company hitting on all cylinders and still paying a very nice dividend. Btw, the BR purchase - turns out there were some very nice shale assets that came along with it and COP has the capability of being a major nat gas producer. They are currently #7 in the US, but they have a lot of shut-in capacity and can easily ramp up gas production if prices rise and makes it worth their time.
    Nov 16, 2013. 08:43 AM | Likes Like |Link to Comment
  • King Coal Takes Another Blow To The Head [View article]
    Sure, who wouldn't - but the problem is the US hasn't had a "free market" wrt energy in decades. If it did, we'd all be driving natural gas vehicles. The government has dumped billions into giveaways like "clean coal", the ethanol mandates, biofuels, etc etc most of which are designed to keep us addicted to the status quo: coal and gasoline. At the same time, the Federal Reserve prints money out of thin air to "pay" for foreign oil importss. Meanwhile, the environmental and health care costs of these policies have been heaped onto the backs of ordinary Americans.
    Nov 16, 2013. 08:35 AM | 2 Likes Like |Link to Comment
  • King Coal Takes Another Blow To The Head [View article]
    tgar13 - thank you and I agree, I would not want a coal export terminal in my city either. As for wind and solar backup, have you looked into CAES - compressed air energy storage? Dresser-Rand is the world leader in this technology:

    http://bit.ly/1afgxpx
    Nov 16, 2013. 08:33 AM | Likes Like |Link to Comment
  • King Coal Takes Another Blow To The Head [View article]
    machiavelli - thx, first belly laugh of the day!
    Nov 16, 2013. 08:27 AM | 1 Like Like |Link to Comment
  • King Coal Takes Another Blow To The Head [View article]
    TnT: Grumpy I can deal with, calling someone stupid is uncalled for...
    Nov 16, 2013. 08:25 AM | 20 Likes Like |Link to Comment
  • U.S. approves additional exports from Freeport LNG [View news story]
    Yes, I agree afmarko99. The US should only consider nat gas exports after we have transitioned the car and truck fleet over to natural gas transportation to reduce foreign oil imports and CO2 and toxic particulate emissions. The US economy would take off like a rocket if, instead of sending all our money overseas for foreign oil, we sent it American energy companies and nat gas royalty holders and kept the $ inside the country. The economic multiplier effect would be phenomenal.
    Nov 16, 2013. 08:21 AM | 2 Likes Like |Link to Comment
  • Why Did Buffett Reduce ConocoPhillips Stake And Add Exxon Mobil? [View article]
    OK, thanks for the quote. I would agree with the quote if that is what you were asking. And I have no problem with investing for the future - all oil companies do it, XOM is certainly not unique in that regards. My beef is that, in the meantime - before these projects come online (i.e. over the last 5 years), XOM management seems unconcerned about the severe under-performance of the company and continues to over-emphasize buybacks over the dividend. Why not scale back the buybacks and shift more money toward a competitive dividend for the ordinary shareholder while they wait for these projects to come online?
    Nov 15, 2013. 09:43 PM | Likes Like |Link to Comment
  • Why Did Buffett Reduce ConocoPhillips Stake And Add Exxon Mobil? [View article]
    COP+PSX= smaller version of XOM.

    And you're right, the appreciation and dividend performances of the two could not be more different over the past 5 years. apples and oranges, I agree!
    Nov 15, 2013. 09:37 PM | Likes Like |Link to Comment
  • Why Did Buffett Reduce ConocoPhillips Stake And Add Exxon Mobil? [View article]
    geologist - yeah, I am not much on trying to time the market and play drops and rises. I am terrible at it. I just try to pick good companies that I can buy and hold. As a result, I make my biggest investments in dividend paying companies in the energy industry.
    Nov 15, 2013. 09:36 PM | 1 Like Like |Link to Comment
COMMENTS STATS
8,711 Comments
10,826 Likes