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loading ...Recent XOM Articles
- Stop the Week, We Want to Get Off
- Ten Texas Stocks
- Trying to Catch a Falling Dollar
- Options Trader: Thursday Outlook - How Much More Disappointment Can We Stand?
- Attractive Values - Fast Money Recap (10/7/08)
- Getting Beyond the Fear Itself
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Windfall Profits for Big Food: Where's The Outrage? [view article]
If you are going to talk about profits,let's talk about the Government. When diesel is 5.19 a gallon like it is in California the Federal Excise is .244 cents State Excise is .18 cents and .0795 sales tax. That is eighty cents a gallon and no exspenses to pay. That is absurd. ReplyExxon Mobil Defeats the Rockefellers [view article]
Last time I looked the US used only 1.5 percent of its total crude consumption for power generation. The rest went to transportation fuels and chemicals.Somebody, anybody, please explain to me how any oil company diverting funds to wind power and solar will give the public lower gasoline and diesel prices. Yet, evertime a politician opens there mouth they want to tax Big Oil and plow the funds into green power generation technologies. They are using their wind power to blow sunshine up our exhaust pipes. Reply
Windfall Profits for Big Food: Where's The Outrage? [view article]
Nowhere in America.Reply
Windfall Profits for Big Food: Where's The Outrage? [view article]
"Windfall Profits for Big Food: Where's The Outrage?"Nowhere.
These people have no shame, whosoever.
They will repeat any lie.
They will "bear false witness against their neighbors" time and time again.
No sir, the only outrage they feel is if the GOP tells them to believe some propaganda talking point.
They have absolutely no problem with borrow-and-spend $3 trillion on a war based on lies.
Lies? What lies? They have no clue.
When the "dirty hippies" said back in 2000 that it would NOT be a good idea to let two OIL men run our country--there was no outrage.
What could possibly go wrong? They will surround themselves with "smart" people, they said.
You're just being a "boy who cried wolf".
"The sky is falling" they laughed, again and again.
Funny...when they fill up their F-350 trucks and SUVs, I don't hear them laughing now.
Reply
Sinopec: Potential for Growth [view article]
Thanks for that comment Ex15:26 -- Sinopec as a whole is not losing money currently, as Sinopec has 4 divisions, upstream, marketing, chemicals and refining -- and refining is losing money, the other divisions are profitable.The extent to which Sinopec's refining division is losing money is a complicated matter, which doesn't translate easily into the press -- I've addressed Sinopec's refining division in an earlier article which can be found here: seekingalpha.com/artic...
I can comment, last quarter was a bit of a surprise in terms of the size of the refining losses, however, SNP didn't provide much detail on their other divisions -- I suspect that they are expensing a lot of exploratory expenses in their upstream division, which didn't show any profit growth in the first quarter (which was a surprise, as oil prices were up significantly). But as Tahe, Puguang (as mentioned in the article above) come online, E&P profits should increase.
Overall, the Chinese oil majors tend to move a lot day to day, with moves of -/+5% not uncommon -- much of this I believe is due to the movement of the overall Chinese markets, which are very volatile.
Note sentiment towards Sinopec is currently at a nadir, as most endowments and EU related funds have divested Sinopec due to the Sudan issue, and there is a lot of resentment towards SNP by western oil majors due to SNP's aggressive attitude towards international oil acquisitions. This filters down to articles in the press.
In terms of a pair trade, I generally go long and hold for a longer period of time (well over a year) so can't predict short term moves. Also, I can't predict what will happen to the price of oil over the short term. Reply
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Windfall Profits for Big Food: Where's The Outrage? [view article]
great article!!!!!!!!!!!!!!!... ReplyIn Light of Peak Oil, Financial Diversification Is a Bad Idea [view article]
cheeks: your coment about the super rich is interesting, because that assumes the currency the super rich hold is worth something. if civilizations fall, it won't matter how much paper money, or perhaps even gold, one has accumulated if the basics of food and transportation are not available. that is why i have contacted the foundations of bill gates, warren buffet, the google guys, the templeton foundation, all of whom have these great charitable projects which will all FAIL if the realities of oil are not addressed first. they have all ignored me, and i wasn't asking for money! i was asking them to use their influence with government and media to truthfully deal with the realities of oil supply/demand, to stop the denial, and to adopt sound energy policies to protect the US from the "oil fallout". all i can do is try.KenC: yes, i see countries that export oil as being "strong" and countries that import oil being "weak". the US being amongst the weakest as we are not only the biggest user, but the biggest importer. we are exposed bigtime. yet, the politicians and media are for all intents and purposes appear oblivious to what is about to happen.
barnburner: i have no problem with the strict oil and natural gas ETF's - i am just more comfortable with owning energy companies just like i would rather own gold producers. i keep thinking that if you can find companies in both these markets that can increase production, you get the price appreciation and the growth in net income. i think, in the coming years, there will be big jumps, followed by consolidation (like now in oil) and times when the straight ETFs won't do much. that said, long term, i agree with your point. i just haven't gone overboard myself in that direction - but you have me thinking about it some. thx.
xander: i agree we should be drilling. i think congress and environmentalist (which i consider myself to be actually) we be re-thinking US exploration policies when gasoline hits $10 which it will in the next few years. bad news: it takes some years to bring alot of these resources online - meanwhile, steel, pipe, compressors, turbines, etc. etc. are all going up in prices....
wobatus: with all due respect, i think the big danger not only to your personal finances but to civilization is to believe oil WON'T keep going up forever. sure, we'll have some consolidations, but long term, you've got big powerful countries all bidding after the same pool of oil resources. huge supply increases simply have not come online, nor, do i think they will - at least not in the volume to offset demand and depletion rates. big problem. world in denial. hey, i should write a song: "World in Denial". perhaps with a reggae beat - it wouldn't be taken seriously anyway. i can't even get the WSJ to publish my energy policy article :(
Reply
Windfall Profits for Big Food: Where's The Outrage? [view article]
The KEY word in this discusion is "barrel", as in "whoever has you over one will stick it to you" whether oil co. banker or farmer,etc. Everybody will maximisr profit when given a chance. ReplyWindfall Profits for Big Food: Where's The Outrage? [view article]
Answer: constituencies. ReplyWindfall Profits for Big Food: Where's The Outrage? [view article]
Interesting observation...the answer, of course, is that Congressional hearings would place legislators in a very dicey position...they were the ones mandating ethanol production increases...and the severe demands of corn crops has placed cascading problems on almost every imaginable foodstuff. Fertilizer...crop choice...animal feedstock..name it.As for the oil execs..they should have told Congress to stick it! If someone wants to point fingers and blame then at least have the guts to start with those that control 80% plus of the world oil..National Oil Companies...of which I most certainly include Russia's Rosnft...See what kind of crap Putin takes under questioning.... Reply
Windfall Profits for Big Food: Where's The Outrage? [view article]
Outrage fatigue. ReplyWindfall Profits for Big Food: Where's The Outrage? [view article]
What? Large Profits? In America? I think we should all aim to fail. Just like the liberal Dems want us to. And they aren't doing so bad at it lately themselves. Take it to the convention Hillary, you crazy b#%4h. ReplyWindfall Profits for Big Food: Where's The Outrage? [view article]
make that..........'when we are going to need all the big-oil supplies'.......note to self.....'proof read before posting'.Reply
Windfall Profits for Big Food: Where's The Outrage? [view article]
Great article, and spot-on exactly correct. Our energy future is going to expand beyond oil and natural gas, but not in time to do anything meaningful about near-term future consumption of those products. Why beat up on 'big-oil' so severely, when we are going to near all the 'big-oil' supplies we can muster up. And at the same time, ignore 'big-Ag'.Reply
In Light of Peak Oil, Financial Diversification Is a Bad Idea [view article]
I think it is dangerous to assume that oil will go up forever. Maybe it has a ways to go, but to go undiversified due to a belief in peak oil could be very dangerous. There is a lot of recoverable oil which starts to come on line at current prices or higher. And whether due to short-sightedness or environmental concerns, the U.S. is in essence hordeing reserves off-shore, in Alaska and in shale. At some price of oil, the political will may emerge to tap that oil. There is also the large Brazil find, tar sands, etc.One of the big reasons for the current oil increase is large amounts of institutional money being allocated in that area, partially due to the dollar, but also because more investors now go where few used to go.
But if you look at history of oil, there have been boom and bust cycles for years. It is a commodity after all.
Go all in if you like, but be careful out there. Reply