Steven Ward

BP Strikes Oil, Enhances Exploration Potential in Gulf of Mexico

As a former Amoco employee, a second generation employee at that, I still own some Amoco, oops BP that is, shares in a small investment savings account. Amoco had a problem, a serious lack of capital to really go elephant hunting. The fix was to sell to BP, where most of the Americans kept their jobs and then some.
Amoco at the time had the largest employee and former employee stock ownership in all of the large integrated oil companies, around 28 percent. It was the main reason we were not raided by T. Boone Pickens when he was raiding Phillips and others. He wasn't welcome and he knew it. Nobody sold their stock, darn near nobody. It was a religous cuilt the stock ownership. But we all knew from the CEO down to the truck drivers we had excessive refining capacity and no oil. BP came along and we all exchanged our shares. It was the right decision based solely on future shareholder value.
Uncle's right in the lack of capital investment by some US oil companies. But sometimes a good deal comes along and your survival depends on it.

BP Trending Up

BP has cancelled an 8 billion dollar refinery in New Brunswick, that's good based on demand destruction and they picked up a load of GOM properties and Arctic properties which is also good.

BP is positioned well for future growth, if the new properties pan out.

OPEC's Power to Influence Oil Price Slips Away

It takes OPEC 18 to 24 months to get the price off a floor. That's been the history. They can't keep the price high but they can drag it off the floor. give it two years.

Venezuela and Iran will cheat like crazy until the saudis put it to them.

Gold Miners: Biggest Drag on My Portfolio, Yet the Biggest Opportunity

Dave, take a look at Talisman's record since inception in 1991, it was a BP spinoff. It has had 4 stock splits, one was 3 for 1. True that was the growth days but oil was lower then than now as well.

Cheap eventually gets picked up. TLM's problem was in the North Sea where her old fields started the fast decline and the new ones didn't start up production fast enough. Still, a 5 percent YOY growth of production should commence in 2009 out to 2012 at a minimum.

Why TransCanada Wants a Palin Victory

I can only assume the NY Times does not favor a pipeline for natural gas out of A;aska to the lower 48.
I can only further assuime that the NY Times has no other hidden agenda on the Palin /pipeline proposal than other to say that the NY Times needs to point out as to what alternative does have an immediate value. And by immediate I guess we mean NOW.
It is incumbent of the NY Times to profer the "immediate solution".

Why TransCanada Wants a Palin Victory

The article misses the point. That point being: Nothing was being done at all on the pipeline front, until Palin started a defined bidding process. now look what happens: BP and CP both are now enthusiastic. Palin doesn't care one whit, in reality, who builds the pipeline. But as long as Trans Canada is there then you have competition which is what is needed.And that's the point.

Energy Companies Follow the Big Pharma Model for R&D

R&D can be frustratingly elusive in results. Look at Apple and Microsoft, initially startups. Apple in a garage with only two guys. Then look at IBM and their vast amounts poured into their OS and PC harware.
We all know who is left standing.
That maybe the model we are liikoing at instead.

Brazil and Petrobras Are Awash in New Oil

Uncertainty is a market's black shadow. Uncertainty is what plagues PBR with Lula's pronouncements of increased oil wealth to alleviate poverty.
He will do this but under what model, that is still uncertain.However, Lula's biggest fear is inflation. He stated this in a recent interview with Bloomberg.
Lula meets with his finance Minister twice a week just to go over the inflation numbers.This could nean a silver linning in what new model Lula picks. Not theChavez model which is clearly confiscatory but also inflationary. Until we know why buy PBR. BG Group would be a better choice for the obvious reasons of lower exposure to the Santos mega filds and profits commig from elswhere around the world. The other choices are deep drillers and subsea systems companies but not yet PBR. It's value is only compelling at current pricing if Lula doesn't give it a big whack.

Energy Firms Should Look to U.S. Shale - Barron's

Extraction of gas from shale like the Barnnet is water consuming intensive. I'm no enviro nut but in Denton County Texas, the heart of the Barnnet gas play, the water table is dropping like the proverbial rock and the water commission estimates water shortfall for everyone, consumer and drilling companies in 2010.
Get this: the leader of the opposition tio the drillers is a former oil and gas prospector.

Water usage and pollution is a huge issue that Mac and O'Bama will have to face.
I just wonder what the greenies are going to do with O'Bama if he goes against them

This is (water) the big boogey man in T. Boone'splans od self suffiicency that no on's talking about.

Energy Stocks: Which Horse To Ride for Income?

I sold BP at higher prices and bought BG Group last year. As good as BP is on the value side I believe BG Group is the "integrated" oil and gas company of the future and the future is now.