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  • Wall Street Breakfast: Must-Know News [View article]
    Events in Cyprus remind me of what happened in Abu Dhabi at the start of the last "crisis". Funny how something happening in some "small player" can be enough to possibly "trip the trigger".
    Mar 18 09:04 AM | 5 Likes Like |Link to Comment
  • Statoil (STO -0.8%) may be getting cold feet on its plans to drill off Alaska in the wake of Shell’s problems in the area, and is ruling out output from the region in its North American production target. STO’s head of international exploration says the company is still assessing whether it will start Alaska drilling in 2015, at a later date or “if we won’t drill at all." [View news story]
    Hi Veritas,

    You're correct, I believe, in suggesting that my comment/observation is somewhat "transparent", but sometimes "a cigar IS just a cigar", *s*. To expand a bit, I wonder if what befell Shell's efforts didn't raise something of a "red flag" for STO? While no "angel", I don't believe that Shell has a reputation for being unduly reckless in their operations, yet the US certainly made no effort to ease their path. In fact, the argument could be made that the opposite happened.

    I agree that Canada provides a somewhat interesting example. It seems that they embark on a "reasonable" course of action for an extended period of time, but then suddenly, do something "out of left field" (thinking of the "Halloween Massacre" anumber of years ago in the income trust sector as one example).
    Mar 10 12:51 PM | Likes Like |Link to Comment
  • With companies looking to avoid paying taxes on their profits, 83 of the largest firms kept $1.46T overseas in 2012, up 14.4% from the previous year, Bloomberg calculates. GE (GE) again had the most with $108B held offshore, up from $102B in 2011; Pfizer was second with $73B, after which came Microsoft (MSFT), Merck (MRK), Johnson & Johnson (JNJ) and IBM (IBM). [View news story]
    In any sort of organized human activity, the entities participating most successfully are those that most effectively study the "rule book". I find the imposition of "ex post facto" penalties, because one doesn't like the outcome to be distasteful, at best, and arguably immoral at worst.

    If you don't like the outcome of the game, change the rulebook. (Meaning that its the regulators that are at fault, rather than the companies being complained about.)
    Mar 10 12:34 PM | 1 Like Like |Link to Comment
  • Pembina Pipeline: Forget Keystone, Get Infrastructure Expansion With No Hassle [View article]
    I entered my position in PBA via being a long time holder of Provident. So far, I'm glad that I made the decision to hang on to it.
    Mar 8 07:45 PM | 1 Like Like |Link to Comment
  • Statoil (STO -0.8%) may be getting cold feet on its plans to drill off Alaska in the wake of Shell’s problems in the area, and is ruling out output from the region in its North American production target. STO’s head of international exploration says the company is still assessing whether it will start Alaska drilling in 2015, at a later date or “if we won’t drill at all." [View news story]
    Veritas,

    Perhaps they're not comfortable with the environmental/political risk that seems to be in play in Alaskan waters?
    Mar 8 06:47 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Regarding the stress tests; given that Basel III is looking for, I belive, a 9% Tier I reserve, not sure that I'd be overly comforted by the fact that big US banks have 5%, passing the "stress test".
    Mar 8 08:48 AM | 3 Likes Like |Link to Comment
  • BP, which lost its first deal to drill for oil in Russia's Arctic to Exxon (XOM), tried to negotiate a new deal with Rosneft and was again beaten to the punch by XOM in winning access to the Arctic Laptev Sea fields, Reuters reports. BP thus has been left a bystander in the rush for Arctic deals, and all but five of 30 Arctic license areas held by Rosneft have been parceled out in ventures with other firms. [View news story]
    Disturber,

    While I'll defer to your legal expertise (I have none, in particular), from looking at the daily chart, even $45 within a year would be an outstanding performance.
    Mar 5 10:22 AM | Likes Like |Link to Comment
  • Stocks, Bonds, And A Suspension Of Disbelief [View article]
    7495791,

    I've run across more than a few comments similar to yours, suggesting that one would have to be a fool to be holding cash. I don't think ANYBODY's suggesting cash should be held for quarters and years at a stretch, but IF the S&P should slide downward by 10-15-20% over the next 6-8 months (that's not a market call on my part; just acknowledging the possibility), folks that were cash heavy would look pretty darn smart.
    Mar 4 05:07 PM | 2 Likes Like |Link to Comment
  • BP, which lost its first deal to drill for oil in Russia's Arctic to Exxon (XOM), tried to negotiate a new deal with Rosneft and was again beaten to the punch by XOM in winning access to the Arctic Laptev Sea fields, Reuters reports. BP thus has been left a bystander in the rush for Arctic deals, and all but five of 30 Arctic license areas held by Rosneft have been parceled out in ventures with other firms. [View news story]
    It certainly appears that BP remains something of a "value trap" for unwary investors.
    Mar 4 04:59 PM | Likes Like |Link to Comment
  • The Bear Who Cried Wolf: Everything Is Fine Until It Isn't [View article]
    Regarding student debt (which can't be discharged via bankruptcy), it looks like we've brought back the concept of "indentured servitude".

    Good article, Colin.
    Feb 26 05:16 PM | 1 Like Like |Link to Comment
  • Sorry Bulls, But This Is Still A Secular Bear Market [View article]
    Basically, a well articulated, and reasoned article!
    Feb 25 11:55 PM | 2 Likes Like |Link to Comment
  • Chevron (CVX -2%) says it may consider expanding its proposed liquefied natural gas export terminal off Canada’s Pacific coast because of its "vast amounts” of gas reserves in the Liard and Horn River formations in British Columbia. Meanwhile, Canada's government gives final approval to an export license for Shell's (RDS.A) planned LNG plant on the coast, only the third such approval. [View news story]
    Generally speaking, it looks like Shell's having better success with its efforts in LNG than its had with its Arctic drilling program.
    Feb 25 06:14 PM | Likes Like |Link to Comment
  • Coming Week Market Movers: 7 Things You Absolutely Must Watch [View article]
    Cliff,

    Regarding the somewhat surprisingly hawkish chatter from the Fed, its my understanding that this has emanated from the non-voting members. As long as the dovish core is still calling the shots, isn't such chatter a non event?
    Feb 24 01:50 PM | 1 Like Like |Link to Comment
  • Teekay Offshore Partners: Rising Above the Tsunami of Tanker Tonnage [View article]
    CaptKorn,

    I'd agree that the somewhat smaller tankers are in a more favorable pricing situation than are the VLCCs. To the best of my knowledge, TOO has the shuttle market pretty well locked up.
    Feb 22 06:12 PM | Likes Like |Link to Comment
  • After Clearing A Major Hurdle, Greece's Outlook Brightens [View article]
    For whatever reason, Greece seems to be lagging more than a few of it's fellow "PIIGS" in clawing its way back towards a recovery. Over the last couple of days, the print FT had articles on both Spain and Portugal, noting declining deficits in their current account balances, as easing of overly stringent work rules/regulations has made a notable difference in the competitiveness of their exports.
    Feb 14 06:41 PM | Likes Like |Link to Comment
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