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Michael Fitzsimmons

 
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  • Russia Could Become The Backbone Of China's Energy Supplies [View article]
    I think oil is the world's reserve currency. And more and more countries are trading oil in non-US dollar terms and agreements. Especially these Russia/China deals.
    Mar 29 09:23 AM | 1 Like Like |Link to Comment
  • Russia Could Become The Backbone Of China's Energy Supplies [View article]
    All good points. Wrt to #4, I suspect that is a bigger issue for Russia. I would add a #5: with the slim returns on Iraqi oil deals, there is talk that China and Russia may be the ultimate winners there as American and western oil companies reduce their stakes there. Indeed that has already happened in a couple cases.
    Mar 29 09:22 AM | 2 Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    Hi okie: the best document i know of on this matter is the actually S-1 filed with the SEC that Lou Gray linked to, which I will repost here:

    http://1.usa.gov/YhuGNE
    Mar 28 06:25 PM | Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    i am not trying to be a wisenheimmer, but i think current shareholders are benefiting already (stock up $1.89 at the moment). seriously though, there are several comments to the article which express the tax and distribution benefits better than i could (no expert on MLP's as my initial comment to the article certainly proved).
    Mar 28 03:57 PM | Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    I second Derek's comment - thank you for the insightful rmerrick.
    Mar 28 03:54 PM | 2 Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    Interesting point about DCP - thank you LaMarque.
    Mar 28 12:39 PM | Likes Like |Link to Comment
  • Russia Could Become The Backbone Of China's Energy Supplies [View article]
    Amvet - I agree with much of what you say. China has a strategic long-term comprehensive energy policy and the US does not. China is prioritizing natural gas transportation and the US is not - despite abundant nat gas production and reserves and prices that are 30% of Chinese nat gas price. No wonder the US is printing money and China owns trillions of US bonds.
    Mar 28 12:30 PM | 2 Likes Like |Link to Comment
  • Russia Could Become The Backbone Of China's Energy Supplies [View article]
    Thank you Popano. I think Russia needs Chinese cash as much as China needs Russian energy. Its a very symbiotic relationship, or could be. Wrt Chinese military, it's hard to tell if it is a response to overwhelming US military activity the world over, or simply the US's stated position to "pivot" from the ME to Asia. For instance, the military exercises the US and South Korea are holding, as I write this, with 40,000 troops has already prompted a response from North Korea - they cut a key communication channel with South Korea. And the US spends more than 2x on military spending than China and Russia combined:

    http://bit.ly/w1w2Ei

    The difference of course is that the US is printing money to do this, and the other two have foreign reserves.
    Mar 28 12:25 PM | 2 Likes Like |Link to Comment
  • Russia Could Become The Backbone Of China's Energy Supplies [View article]
    Yes, Russia is huge. One big advantage the US has over Russia from a geographic perspective is its advanced river transportation system in additon to numerous warm weather ports. I bet your trip was an experience you will never forget. As for CH4, I would imagine less.
    Mar 28 12:18 PM | 1 Like Like |Link to Comment
  • Russia Could Become The Backbone Of China's Energy Supplies [View article]
    Very good analogy Ben Gee. I would, however, note one very important difference: the Chinese have foreign reserves (i.e. the money), and the US is still printing it. And that is one thing I didn't touch on (the article was already pretty long): this energy deal is done completely Russian and Chinese currencies, which will validate both from an international perspective. It is well known the BRICS want an alternative to the US dollar.
    Mar 28 12:15 PM | 2 Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    runyontr: redarrow's question and observation is what led to my earlier incorrect assumption, which you straightened me out on. Since you appear to be quite knowledgeable about MLP's, perhaps you can answer a question I have: is the cap-ex, salaries, etc. etc. of the new company now completely in the hands of the new company (i.e. off PSX's ledger)?
    Mar 28 10:25 AM | Likes Like |Link to Comment
  • Russia Could Become The Backbone Of China's Energy Supplies [View article]
    Hi Amvet, nat gas pricing and the cost/financing of the Siberian pipeline are probably the major sticking points of these energy deals. It will be interesting to see what the final agreement is. Wrt your question about natural gas fields, I am no expert but I would agree on the loss of pressure, and perhaps also percentage CH4. The indicators may also differ based on whether the field is a conventional play or an unconventional shale play.
    Mar 28 10:19 AM | Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    Thanks very much for the link Lou! Great information at the click of a button:

    "Hartford Connector products system. A refined petroleum product pipeline, terminal and storage system located in Hartford, Illinois, that distributes diesel and gasoline produced at the Wood River refinery (a refinery owned by a joint venture between Phillips 66 and Cenovus Energy Inc.) to third-party pipeline and terminal systems, including the Explorer refined petroleum product pipeline system."

    Storage capacity: 1,075,000 barrels
    Terminal delivery capacity: 17,000 barrels/day (refined product)
    Mar 28 09:56 AM | Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    Does anyone have any information on the Hartford Connector Pipeline? I went through a few PSX presentations and googled a bit, but could not uncover anything specific.
    Mar 28 09:22 AM | Likes Like |Link to Comment
  • Russia Could Become The Backbone Of China's Energy Supplies [View article]
    Thank you Abegaz. Yes, the geopolitics of energy are fascinating to me. I agree with you that Russia supplying China with large quantities of natural gas would affect Europe. This will work to the benefit of STO and perhaps even US LNG exporters.

    When I spoke of Russia being the backbone of China's energy supplies, I view the natural gas pipeline from Siberia as the spinal cord of that backbone. It will be very interesting to see if the two countries can actually come to terms on pricing and get that pipeline built. That would be a game-changer in my opinion.
    Mar 28 09:18 AM | 2 Likes Like |Link to Comment
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