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  • Chevron sells Chad, Cameroon interests for ~$1.3B [View news story]
    What I'm really advocating is allowing the U.S. private sector to fully develop oil and gas energy sources so the U.S. is more energy independent. For instance, if the leadership supported the use of natural gas to operate our vehicles we could be a lot further along in having the infrastructure built to use gas as a transportation fuel.

    As far as the Iraq war and whether the U.S. should have invaded - I'd agree that was a big mistake. However, that war happened primarily as a result of the terrorist attacks of 9/11 and this country's frustration in not being able to get hold of the terrorist leadership soon after the attacks on this country. And while that war was a mistake, there's no doubt a big problem is now taking hold in Iraq. I don't think it wise to ignore what's happening. After all, that's what we did with Afghanistan for many years until 9/11.
    Jun 15, 2014. 03:31 AM | 1 Like Like |Link to Comment
  • Trading Uncertainly In Iraq [View article]
    Obama and Company lack the smarts and finesse to assert U.S. powers (military and economic) on the world stage to maintain peace anqd stability. First its Mosul, next Baghdad, then New York. Obama even helping our enemies by freeing their leaders. The silver lining in this cloud is that come mid-term elections domestic fuel prices will be up over $5 per gallon and costs of food and everything else will increase accordingly. Voters should be in a very sour mood and the Dems ought to feel it in the form of lost power in the Legislature. Obama's crusade against GOM drilling, new pipelines (XL), fracking, etc., will ultimately work against him because of increasing fuel prices that should rise much higher than if he allowed U.S. energy to develop as best it can.
    Jun 14, 2014. 11:18 AM | 1 Like Like |Link to Comment
  • Chevron sells Chad, Cameroon interests for ~$1.3B [View news story]
    It's about time CVX started selling assets located in unstable geopolitical levels. Obama's flacid response to ISIS should be observed and heeded by Big Oil. The U.S. is not going to step in to stabilize the Middle East so you best sell problematic assets as best you can.

    Obama's "consideration" of air strikes shows just how ineffective he and his Administration are on the world stage. If he and his cronies had not stalled important energy projects like GOM drilling and pipeline projects the WTI oil prices would not be increasing as fast as they are. When voters are paying $5+ per gallon of gas and higher food prices in the Fall the Dems are going to suffer at mid-term elections. "Change" has just about come full circle and if Dems lose more power in the Legislature the "Change" administration will have reached an anti-climatic end.
    Jun 14, 2014. 10:10 AM | Likes Like |Link to Comment
  • Occidental to spin off California Resources by end of 2014 [View news story]
    Monterrey Shale does NOT have potential as another gold rush. This is another example of the Greens not understanding fossil fuels. There are different types of shales. Some excellent as sources of oil and gas (Eagle Ford, Bakken, Permian) and some are not. A couple of years ago everyone thought the Utica in Ohio was going to be the next Bakken but alas test wells have revealed its not what they were hoping for. The Monterrey Shale is not good producing rock. Ya'll will have to find another productive company or business to tax out of existence.
    Jun 12, 2014. 10:25 AM | Likes Like |Link to Comment
  • Anadarko takeover by Exxon is unlikely, J.P. Morgan says [View news story]
    While anything is possible, I doubt XOM would seek out APC given APC's unresolved legal issues (Macondo, Tronox). XOM has a number of complex legal issues involving pipeline spill in Arkansas, Vermont's recent suit, legal questions surrounding contracts in Iraq/Kurdistan (not to mention evolving anarchy in that country) and unresolved sanction issues with its activities in Russia. There are plenty of other good independents that XOM could take over (if it desires to do so).
    Jun 12, 2014. 10:14 AM | Likes Like |Link to Comment
  • Boeing hit as Cantor's loss clouds Export-Import Bank’s future [View news story]
    Boeing, with HQ in Chicago and significant manufacturing facilities in WA. and SC. coupled with its relationship to UTX and GE manufacturing subcomponents in other states provides enough jobs and taxes across political spectrum that Cantor doesn't matter. Obama, from Chicago, and Senators and Representatives from WA, SC, etc., have plenty of incentive to support BA. Remember the Air Force tanker contract? Airbus initially won but politics intervened and BA got the contract when all was said and done. Further, BA has the 787, which is the most energy efficient commercial passenger jet on the market. There's more thar can be said in favor of BA but why bother. It's a great American company.
    Jun 12, 2014. 08:26 AM | Likes Like |Link to Comment
  • Only a fraction of big gas export projects will be built, Shell exec says [View news story]
    So now Obama and company can start approving all the gas export license applications in this country knowing full well his administration's delay policy worked by causing America to miss this economic opportunity. Running up huge government debt, delaying solid economic opportunities and releasing terrorists - nice work Obama and Co.
    Jun 9, 2014. 07:00 PM | 7 Likes Like |Link to Comment
  • The World Debt Bubble Is About To Burst [View article]
    I'm not buying your position. The statistics you provide are overbroad. The Twenties were called "Roaring" for a reason - the U.S. economy expanded while government reduced its deficit. Then you ignored the Seventies where the government "suspened" Bretton Woods and the dollars convertability to gold and the deficits government ran during this period. Not only did the U.S. have a major recession but inflation caused serious loss of purcashing power in addition to lack of jobs. Carter was run out of office as he drove economy into the ground. If government deficits are imaginary or don't really count, then why not credit every citizens' bank account with a billion dollars and make everyone instantly rich?
    Jun 9, 2014. 02:25 PM | Likes Like |Link to Comment
  • S&P suggests possible upgrade of U.S. credit rating [View news story]
    U.S. should always be rated "AAA" because it can print what ever it takes to pay. These ratings don't mean much because of this fundamental priniple. A rating regarding the purchasing power of what you will be repaid with in the future would be far more meaningful. So, AAA you will be repaid with 100% of the dollars promised; but CCC rating for what you can buy 10 years from now.
    Jun 8, 2014. 05:25 PM | 1 Like Like |Link to Comment
  • Possible Fracking-Earthquake Link Could Challenge Oil And Gas Industry [View article]
    You don't need a law to make oil companies drill a relief well. Macondo and BP's 20+ billion legal headache is enough to cause the industry to implement relief wells. You want to really make it economically necessary to drill a relief well. Increase the maximum penalties for oil pollution if there is another deep water blow out. The original oil pollution act provided for only like a 100 million maximum penalty and that was increased after Macondo. You can increase the penalty to 100 billion and that will get even BP's attention.
    Jun 7, 2014. 05:30 PM | 1 Like Like |Link to Comment
  • Possible Fracking-Earthquake Link Could Challenge Oil And Gas Industry [View article]
    Safety costs money. You want more safety for vehicular impacts. Well air bags and safety belts cost money. You want cleaner oil and gas production. It costs money to create water recycling and/or water disposal mechanism and procedures. There is no free ride for anything. It took a long time to get legislatures and courts to create things like product liability laws, clean water act, civil rights act, etc. Once the laws and remedies are created, lawyers will seek to implement them. The Civil Rights Act provides civil remedies to people who are abused by the police or other government authorities. The Act gives people the right to recover their attorney's fees. So, policeman stops a nice looking young lady to give her a hard time or hit on her, she can retain counsel to sue the local police department for the officer's malfeasance. All the young woman has to do is win one dollar in damages and her attorney is entitled to recover his reasonable fees in suing the government to enforce her civil rights. There are many state and federal laws that provide similar mechanisms for lawyers to enforce various public policies. The law can move slow or fast. People must vote to get the leaders they want into positions where they can enact what they wish to have. I'm not advocating more government, regulation or lawsuits. All I'm saying is free markets coupled with laws providing for civil remedies to those injured or aggrieved by various economic activities will work better than trying to regulate or have government oversight.
    Jun 7, 2014. 05:27 PM | 1 Like Like |Link to Comment
  • Possible Fracking-Earthquake Link Could Challenge Oil And Gas Industry [View article]
    More regulation is not the answer. There were plenty of regulations already in place before the BP disaster occurred yet they failed to prevent the Macondo well blow-out. And making government bigger is not the answer either because all the government inspectors in the world will not ensure regulations are properly followed.

    Rather, lawyers and the civil suits they file will cause the energy industry to continue improving operations. For instance, automobiles are far more safer today because lawyers filed product liability claims against manufacturers to make them pay for the damages they caused by defective vehicles. The food we eat and the water we drink are much cleaner today because of lawyers filing lawsuits. The economic dynamic of litigation has caused the energy industry to significantly improve its operations. A good movie to watch is "There Will Be Blood" which is centered around the beginning of the oil industry in California. In the beginning, oil companies allowed oil to spill on the ground and did nothing about it. Today, oil companies implement many different measures to avoid spills. Why? They do not want to be sued. There are a lot of federal and state statutes already in effect that lawyers can use to sue energy producers that cause damages. In addition, there are many state common law remedies available to allow those injured by energy production to recover their damages in court. Lawsuits and the economic pain they cause to energy producers are far more effective than increasing regulations and hiring ever more government inspectors. When all is said and done, the process of lawyers filing lawsuits will continue causing the energy industry (and all other industries) to clean up their act.

    Disclaimer: I'm a trial lawyer. I recognize there are bad lawyers who do bad things Overall, lawyers make the world a safer and better place to live. (I also know A LOT of good lawyer jokes.)
    Jun 7, 2014. 09:38 AM | 1 Like Like |Link to Comment
  • Report: Exxon may take over as Kashagan operator [View news story]
    I agree with you Michael about COP. I'm long in XOM, CVX, COP and move in and out of the independents like, EOG, CLR, APA and WLL. COP was smart getting out of several foreign projects. COP is not in the same class of XOM or CVX so it made good sense to recognize who and what you are and focus investment in more projects within COP's expertise. I don't mind XOM or CVX getting involved in major, difficult projects because they eventually bring most into production and make good money. XOM and CVX use much longer time horizons in the business planning whereas EOG, CLR and the like are worried about increasing production and revenues next quarter. XOM publishes a 40 year energy outlook, which demonstrates this player looks way out into the future. XOM caught a lot of flack about XTO purchase at "height" of natural gas prices in this country. Eventually, nat gas will move higher as coal is phased out of use in this country and XOM's investment will prove itself very valuable.
    Jun 7, 2014. 08:54 AM | Likes Like |Link to Comment
  • Occidental to spin off California Resources by end of 2014 [View news story]
    OXY making smart move to isolate reach of California's socialist taxation policies. OXY will move to Texas to sever CA.'s taxation of the company's other revenues. CVX is also rumored to be reviewing its options to get out of CA. Kudos to the socialists who are running the productive businesses out of the state. Eventually, Google and the like will grow older, wiser and tired of paying state income taxes. BA, DE and CAT should look to exit IL. to avoid the Chicago and Il. pension implosion.
    Jun 6, 2014. 08:52 AM | 4 Likes Like |Link to Comment
  • Report: Exxon may take over as Kashagan operator [View news story]
    I commented and advocated XOM take over a couple of months ago when an article mentioned Eni and Total had tried managing, unsuccessfully, this complicted project. Why Kazakstan and the oil partners allowed anyone other than XOM to run the show was beyond me. There's a reason Rosneft partnered with XOM - it has brains and experience developing big, difficult projects (Sakhalin, Paupa New Guinea, etc.). Frankly, I'm astonished the group is still thinking about it.
    Jun 6, 2014. 08:42 AM | 2 Likes Like |Link to Comment