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  • Petrobras: Set to Become a Global Oil Major - Barron's [View article]
    "Buying Petrobras today is like having the opportunity to invest in Saudi Aramco 40 years ago," says Shawn Reynolds of Van Eck.

    Hah. Here's what happened if you invested in Aramco:

    1956 Standard Oil of New Jersey (now Exxon) and Socony-Vacuum Oil (Mobil) confirms scale of Ghawar, world's largest oil field.
    1966 Tankers begin calling at offshore crude oil loading platform.
    1973 Saudi Government acquires 25 percent interest
    1980 Saudi Government acquires 100 percent
    Jul 3, 2008. 01:35 AM | Likes Like |Link to Comment
  • Petrobras: Extremely Overvalued [View article]
    I obtained Heebner's PBR holding from

    Having checked the math from other sources, I stand corrected and acknowledge that PBR is 5% of his current portfolio holdings. The rest of what I said remains true: Heebner got in at $30 and doubled his position at $40. Let's see what he does six months from now.
    Jun 29, 2008. 10:51 PM | Likes Like |Link to Comment
  • Solar and Wind Will Drive Natural Gas Up [View article]
    The Rice study is a rearview mirror, looking at where we've been historically. The US has a natural gas surplus. About half of current Michigan production is being stored subsurface pending increased demand and lower taxes. Neither of those seem likely, do they?
    Jun 29, 2008. 10:22 PM | Likes Like |Link to Comment
  • Petrobras: Set to Become a Global Oil Major - Barron's [View article]
    Tupi is a gas play. Barron's is probably right about another run-up in share price, but Petrobras will never be a net crude oil exporter.
    Jun 29, 2008. 07:47 PM | Likes Like |Link to Comment
  • Kling's Oil Speculation Question [View article]
    Sorry, Professor, I think war risk doubled and, as GH noted, light sweet crude production declined vs higher dollar (debased dollar) demand for gasoline, diesel and jet fuel.
    Jun 29, 2008. 06:42 AM | Likes Like |Link to Comment
  • Rational Zestlessness in the Markets [View article]
    First class writing.
    Jun 27, 2008. 10:57 PM | Likes Like |Link to Comment
  • BPZ Resources Takes a Giant Step into the Big Leagues [View article]
    If it happens, it's gas, not oil.
    Jun 27, 2008. 07:57 AM | Likes Like |Link to Comment
  • How Big a Contribution Comes from Oil Speculation? [View article]
    "We are all put on earth to help each other"

    How does a starving, crippled child in Zimbabwe or Somalia help a scientist, engineer, investment banker, butcher, baker, candlestick maker? What we are seeing in the commodity markets across the board is hoarding, a Persian Gulf war hedge. Makes sense.
    Jun 26, 2008. 08:17 PM | Likes Like |Link to Comment
  • Kashagan Illustrates Hurdles of New Oil Production [View article]
    The current hope is that Wide Azimuth (extremely far offset) seismic acquisition will increase resolution of deep structures. I emphasize the word hope. But let's say it works, and we're able to extend coherent imaging of seismic horizons to 20,000 ft. Big challenges remain: depth migration, stratigraphy, sealing fault blocks, rock facies and reservoir modeling. I'm sorry to say that very often the big NOCs and IOCs get it wrong, because they are putting too much emphasis on computer modeling and ignoring classical geology.

    The Tupi gas play is not important or interesting economically. The best 'proven undeveloped' on the planet is Iraq, followed by Libya.
    Jun 26, 2008. 08:03 PM | Likes Like |Link to Comment
  • Bring Back the Old GM [View article]
    Dan, I'm with you in spirit. All metal Chevy pickups, Chevy and GMC vans, 66 Impala, 78 Monte Carlo, I've owned and loved them all.

    However a GM-Ford consolidation might be the least worst scenario.
    Jun 26, 2008. 04:48 AM | Likes Like |Link to Comment
  • Net Exports of Major Oil Exporters Likely to Fall [View article]
    Another great post, Jim, but I'd put political risk very high on Algeria, Libya, and Iraq, depending on what happens to Iran.
    Jun 24, 2008. 02:27 AM | Likes Like |Link to Comment
  • The 'Peak Oil' Myth: New Oil Is Plentiful [View article]
    dynacode asked about synthetic. Sasol is a leading producer.
    Jun 23, 2008. 02:26 AM | Likes Like |Link to Comment
  • Can Offshore Drilling Bring Down Gas Prices? [View article]
    I vote for Lake Huron.
    Jun 19, 2008. 06:32 AM | Likes Like |Link to Comment
  • The Great Oil Deception: Part Three [View article]
    "a mature basin like the United States"

    Jun 19, 2008. 06:29 AM | Likes Like |Link to Comment
  • Will the Saudis Increase Oil Production? [View article]
    Reliant of India has committed to take 1/3 of the new output.
    Jun 18, 2008. 04:26 AM | Likes Like |Link to Comment