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Michael Fitzsimmons  

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  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    profit-seeker - thanks for pointing out the LNG/diesel equivalence issue. Here is a link to the LNG Excise Equalization Act of 2012:

    http://bit.ly/1gO8g0j

    that discusses the Btu equivalence between a gallon of LNG and a gallon of diesel. I found your proposal to hike taxes on foreign oil imports to fund building out the natural gas transportation infrastructure pure genius!
    Dec 21, 2013. 06:28 PM | 5 Likes Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    Bill - huh? If you are referring to my response to citizen2011 above, it absolutely is an economic argument. Why should Eagle Ford and Bakken light-sweet crude producers receive a lower price for a higher quality product? While there may be a touch of "fairness" in that question, the basic argument is absolutely one of economics. Proof is that almost every energy analyst out there expects WTI to drop if the ban is kept in place, and rise if it is lifted. What more of an economic argument do you want than that?
    Dec 21, 2013. 06:19 PM | 1 Like Like |Link to Comment
  • If You Like Exxon Mobil Here, You're Gonna Love Chevron [View article]
    Ha - well, I tried to get off the hook and IgnisFatuus did express an opinion (he went with COP most recently). How about I answer it like this: if you want some downstream exposure, buy CVX. If you want a pure upstream play, go with COP. ;)
    Dec 21, 2013. 05:46 PM | 1 Like Like |Link to Comment
  • If You Like Exxon Mobil Here, You're Gonna Love Chevron [View article]
    heglimp - I agree and just finished writing a comment to galacianova (see above) that said practically the same thing.
    Dec 21, 2013. 02:04 PM | Likes Like |Link to Comment
  • If You Like Exxon Mobil Here, You're Gonna Love Chevron [View article]
    Hi galicianova: since you replied to IgnisFatuus, I am going to let him answer your question. It's like asking me to chose which child is my favorite. I will say that I would chose either COP or CVX over XOM here, although I do like XOM and think 2014 may be a pretty good year for the company.
    Dec 21, 2013. 02:02 PM | Likes Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    heh heh heh, nice one MisterJ
    Dec 21, 2013. 01:58 PM | 2 Likes Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    Yeah, I hope to keep politics out of this debate because as a country, we've simply been paralyzed by years of this polarization. But the Obama administration has shown some pragmatism on energy policy - including an easing of the Bush administration's ridiculous ethanol mandates. I wish they would have simply abolished the ethanol mandates completely - there an easy domestic source of light-sweet crude demand right there! Anyhow, I think it is promising that the Secretary of Energy and Senators in both parties are talking about the export ban and the need to revisit it. I think it is a question of "when", not "if".
    Dec 21, 2013. 01:58 PM | 4 Likes Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    citizen2011: As an economist, how do you feel about shale oil producers in the Bakken and Eagle Ford that took on debt and risk and are now selling their product (high quality light-sweet crude) at sometimes a lower price than even Saudi heavy, a much inferior grade? It seems to me the export ban is penalized the shale companies that are most responsible for keeping the US economy going over the last 5 years, both in terms of job growth and lower natural gas and gasoline prices. As an economist, doesn't that concern you?
    Dec 21, 2013. 01:53 PM | 3 Likes Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    bbob68: Thanks very much and I'm glad you're enjoying the articles. I will tell you my picks but first please remember my disclosure (engineer, not a Certified Financial Analyst) and the old adage is "advice - you get what you pay for". With that out of the way, even though it had a closing high on Friday, I still think PSX may be the best long-term "shale USA" investment out there for all the reasons I mention in this article:

    http://seekingalpha.co...

    I am also long XOM, COP, CVX, and DRQ - all of which I still like here. I am still watching some Bakken players closely (KOG, OAS, and EOG primarily) as well as WLL, which I got out of but am looking to re-enter. Meantime, I have a great weekend.
    Dec 21, 2013. 01:50 PM | 1 Like Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    Yes it is, I only wish I had found it before I finished this article, but at least the info is available in the comment section.
    Dec 21, 2013. 01:42 PM | 1 Like Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    deodie - Yes, I agree, security, jobs, and transport costs are all factors to be considered when analyzing the Jones Act.
    Dec 21, 2013. 01:41 PM | Likes Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    Good point PalmDesert - there is a big difference between a complete lifting of the crude export ban, and simply issuing export licenses for a certain amount - analogous to the LNG export licenses which to date have seemed quite reasonable.
    Dec 21, 2013. 01:38 PM | 2 Likes Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    I understand your skepticism. However, these are not Congressional lightweights talking, it is the Energy Secretary and Senate Energy Committee leaders Democratic Senator Ron Wyden and Republican Senator Lisa Murkowski. And don't forget, if we have learned nothing else over the past two administrations, it is that special interests drive governmental policy. And when you have the CEO's of companies like Exxon and ConocoPhillips speaking out on the export issue, that means some very powerful special interests (i.e. big oil) are in play here.
    Dec 21, 2013. 11:16 AM | 5 Likes Like |Link to Comment
  • If You Like Exxon Mobil Here, You're Gonna Love Chevron [View article]
    Thanks gap - nice portfolio!
    Dec 21, 2013. 11:11 AM | Likes Like |Link to Comment
  • Crude Oil Export Ban Pits Shale Producers Vs. Refiners [View article]
    Thanks ChuckXX - check is in the mail. Honestly, I am not as knowledgeable about CLR as I am WLL or even EOG. That said, new completion technology, downspacing, and array fracking are pretty much affected all the Bakken (and Eagle Ford) producers in the same way: higher IPs, higher EURs, and eventually higher reserves. I just left a link to a Reuters article for Wiz (see above) that report some encouraging comments by the Moniz (Energy Sec) and some senators of both parties with respect to the export ban.
    Dec 21, 2013. 10:59 AM | 1 Like Like |Link to Comment
COMMENTS STATS
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