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Mike Maher

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  • Hydraulic fracturing does not pose a high risk for inducing earthquakes, but underground injection of wastewater from fracking and other energy technologies does increase the risk, a National Research Council report says. Carbon capture and storage, seen as a promising way to combat climate change, raises the potential for causing "significant" seismic activity.  [View news story]
    NY state recently lifted that moratorium in some counties.
    Jun 16 02:35 PM | Likes Like |Link to Comment
  • Initial Jobless Claims: 386K vs. 375K consensus (prior week revised to 380K from 377K). Continuing claims -33K to 3.27M.  [View news story]
    Yep, moving the wrong way for the country, and Obama.
    Jun 14 08:38 AM | 2 Likes Like |Link to Comment
  • Was this part of the TARP agreement? Bank of America (BAC) announces a goal to make $50B in loans over the next 10 years to green businesses. (PR)  [View news story]
    Power purchase agreements on green electricity generating facilities such as solar and wind lock in profitability for the company over the term of the loans. BAC did not say they are investing in green start ups, they said they are loaning money to companies doing green projects. Google putting solar panels on their roof is a green project. Prologis putting solar panels on all their roofs is a green project. Waste Management installing biogas generation facilities at their waste sites is a green project. No major solar or wind farms in the US are done without power purchase agreements, and all of the projects will be profitable over the course of the PPA, thanks to the taxpayer, the utility, and the rate payer. These are the facts of the electricity generation market.
    Jun 13 12:40 AM | 2 Likes Like |Link to Comment
  • Stimulus Speculation Sends Stocks Higher [View article]
    If the Congress could pass a stimulus bill I think we'd see a sustained rally. Since that is likely off the table until after the election, a Chinese stimulus bill may be the only stimulus the American economy gets.
    Jun 12 05:03 PM | 1 Like Like |Link to Comment
  • Was this part of the TARP agreement? Bank of America (BAC) announces a goal to make $50B in loans over the next 10 years to green businesses. (PR)  [View news story]
    I think everyone is missing the point that these are loans the bank is making which will likely be supported by cash flows from power purchase agreements, not loans to risky start ups like the Department of Energy makes.
    Jun 12 12:12 PM | Likes Like |Link to Comment
  • Was this part of the TARP agreement? Bank of America (BAC) announces a goal to make $50B in loans over the next 10 years to green businesses. (PR)  [View news story]
    Banks make loans as part of their business model. Loans that get paid back lead to profits which can be reinvested in the company.
    Jun 12 11:09 AM | 2 Likes Like |Link to Comment
  • Chesapeake: Is $7 Billion Enough? [View article]
    The bankruptcy would wipe out the shareholders, making the per share value obsolete.
    Jun 12 08:14 AM | 1 Like Like |Link to Comment
  • Chesapeake: Is $7 Billion Enough? [View article]
    That per share value is meaningless is CHK cannot meet their obligations and must declare bankruptcy.
    Jun 11 10:47 PM | 1 Like Like |Link to Comment
  • Thermal coal prices fall to a two-year low as surging exports from Indonesia, the world’s largest coal producer, and the U.S. continue to overwhelm demand from Asia. The slide hits the share price of thermal coal miners (KOL -1.5%), with the valuation of some approaching their lowest in more a decade: ACI -2.1%, ANR -7.5%, BTU -4%, PCX -11.7%, JRCC -6.8%.  [View news story]
    You know what they say about catching falling knifes...
    Jun 11 03:32 PM | 1 Like Like |Link to Comment
  • The U.S. exempts 7 countries - India, South Korea, Malaysia, South Africa, Sri Lanka, Turkey, and Taiwan - from sanctions for buying Iranian oil, according to congressional aides. So who's left that imports oil from Iran? Needless to say, the move should help ease any supply worries. Crude -2.1% to $82.38.  [View news story]
    With crude down 20% in a month, who's worried about supply?
    Jun 11 03:31 PM | 3 Likes Like |Link to Comment
  • "The solution to too much debt is not more debt," says Jim Rogers, opining on the Spanish bailout. "The way the system is supposed to work - when you fail you fail - competent people come in and take over assets ... it's absurd economics, absurd morality."  [View news story]
    Well the banks paid it back, and the ultra low rates in the US mean no one is worried about the US paying it back. Uncle Sam has plenty of money, and its hot off the presses!
    Jun 11 03:23 PM | Likes Like |Link to Comment
  • Morgan Stanley (MS -1.6%) can't catch a break, says Hedgeye's Josh Steiner ahead of what could be a $9B collateral call if the Moody's downgrade happens. Maybe of most concern is the bank's vulnerability to "counterparty confidence flight," which can go from gradual to sudden overnight. As for now, the bank is trading as if it's no longer TBTF.  [View news story]
    A piece intended to scare people. Would they be buying more of Smith Barney if there was any real chance of failure? Doubt it.
    Jun 11 03:17 PM | Likes Like |Link to Comment
  • The Fed is urged - by a group of bankers advising it - to reduce the "uncertainty and confusion" posed by its stress tests. Board members are "flying blind," guessing at distribution decisions, says the Federal Advisory Council. It's hard not to feel bad for the absurd situation bankers find themselves in, but they made their pact with the federales long ago.  [View news story]
    The exemptions for US debt really does set a terrible precedent, I cant believe that the Fed doesn't see that.
    Jun 11 03:15 PM | 1 Like Like |Link to Comment
  • Phillips 66 ([[PSX] +2.4%) CEO Greg Garland says the company may invest in a second large new chemical plant in the Gulf of Mexico to benefit from the cheap feedstock unlocked by the North American shale revolution. “After the Middle East, the U.S. is the next best place to make petrochemicals, because of the advantaged feedstock, and we see that continuing for some time," Garland says.  [View news story]
    Prices here are going to be low for years, but I agree that if it takes Phillips 66 3 years to make a decision, the price environment will be much different than it is today.
    Jun 11 03:11 PM | 1 Like Like |Link to Comment
  • "The solution to too much debt is not more debt," says Jim Rogers, opining on the Spanish bailout. "The way the system is supposed to work - when you fail you fail - competent people come in and take over assets ... it's absurd economics, absurd morality."  [View news story]
    It worked here, sort of....
    Jun 11 03:08 PM | Likes Like |Link to Comment
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