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  • U.S. rig count keeps falling but rate of decline slows [View news story]
    There may be a lot more storage capacity than people think.

    http://seekingalpha.co...
    Mar 28, 2015. 08:28 AM | 1 Like Like |Link to Comment
  • ArcelorMittal: A High Risk, High Reward Play [View article]
    At the current price, I do not see a lot of risk in MT. 17 billion market cap for 6% of the worlds steel production seems cheap to me. Yes there are problems with overcapacity and over production in China but I think that this will work itself out. China's transitions to a more consumer oriented economy does not mean that manufacturing and export will not still be a large important sector and steel consumption should increase once they get through the turbulence of making the transition.
    We also have India that has elected the first business friendly government in a long time - they may finally start living up to there growth potential which would require a lot of steel.
    As for Aluminum in vehicles and the Ford 150, This sis nothing new and every time we get sustained high oil prices (in this respect it looks like poor timing on Fords part) you get auto manufacturers moving to more aluminum. My understanding here is that the F150 is very expensive to manufacture, very expensive to repair , does not have the advertized weight advantage when compared to the newer stronger steels, some of the aluminum parts had to be beefed up when they had cracking issues and that some of the steel bodied counter parts get better gas millage. As such, aluminum is far from a done deal as far as taking any sizable market share from steel in this area.
    MT's research and development efforts coupled with its global presence also put it ahead of the pack as it positions them to take the lead in new developments and supply globally - something no other steel company can match.
    MT's purchase of the Calvert facility (newest finishing facility in America for 10 cents on the dollar also gives them a leg up as it positions them well for rationalizing there American operations and cutting costs.
    I see MT as having a bright future. Long MT
    Mar 26, 2015. 09:01 PM | Likes Like |Link to Comment
  • Get U.S. Dividends From Canadian Dividend Stocks [View article]
    Just wait till you really need something from the Canadian medical system and then you will find out how bad it is. It is designed to look after the system and those who profit from it at the expense of those who need it. This means waiting lists for anything not deemed an immediate emergency to limited choice as to your treatment and who is treating you. As a patient you will find out that you have minimal rights, get kicked out of the hospital as soon as they can get rid of you and get saddled with all sorts of fee's for things that used to be covered but are not any more.
    It is a system quickly going down hill.
    Mar 26, 2015. 08:13 PM | 4 Likes Like |Link to Comment
  • Saudis Signal New Oil Strategy As Production Nears Record Highs [View article]
    I see no change in the Saudi oil strategy. They are just flexing there muscle a little to ensure everyone knows who is in charge of this oil game. I suspect that the Saudi strategy over market share also has price targets associated with it as it makes no sense other wise. They can't play the market share game without pushing other producers higher cost production out of the way and price is the only way for them to do that.

    And so the oil games continue!!!!
    Mar 26, 2015. 11:51 AM | 2 Likes Like |Link to Comment
  • Cameco's Tax Dispute Does Not Affect The Bullish Case [View article]
    A bigger reason that is impacting Cameco negatively is the dropping price of LNG which takes the heat of Japan restarting its nuclear reactors and makes building new ones in China and the rest of the world less urgent. As for the tax case - If they loose, it will hurt.

    JMO
    Mar 24, 2015. 06:15 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: European Markets Fall Ahead Of Greek Meeting [View article]
    Obama has a Canada connection as well (one of his siblings lives their). It did not do Canada any good as he treats Canada more like the enemy than the friend Canada has been for the last 100 years. ;-)
    Mar 23, 2015. 09:48 AM | 4 Likes Like |Link to Comment
  • OPEC governor: oil at $100-$120 again a long shot [View news story]
    Saudis are currently in control of the price of oil and currently have way more to gain from low oil prices than from high.

    1) Saudis have the huge cash pile that lets them ride this out for years if need be.

    2)) Even if Iran gets a deal that allows for an extra million barrels a day , the will be pumping more but earning less than half than they were at $100 plus oil. This Saudi adversary will have to make a deal with the Saudis if they want any chance of getting any increased income.

    3) Russia is licking its wounds at $50 oil - 1/2 the revenue with very limited ability to pump more and sanctions mean that they do not get the technology and equipment needed to even maintain production. Another Saudi adversary kept at bay.

    4) Opec and mainly the Saudi's remain relevant as a force in the markets. The two only real factors in remaining relevant are to be the low cost producer and to maintain a significant market share. The Saudis are working to ensure both of these.

    5) Saudis are the only producers that are capable of significantly raising production quickly regardless of oil price (3 million barrels per day in spare capacity) This gives them the power to decide where oil prices will be.

    6) The Saudis have been among the largest arms producers in the world for a number of years now. Although I do no believe that they will go looking for trouble, they are probably the strongest conventional military power in the region. This coupled with a high degree of US support puts them in a very strong position.

    The are in the drivers seat and will be for the foreseeable future.

    Mar 22, 2015. 03:35 PM | 6 Likes Like |Link to Comment
  • Encana Announces Closing of Over-Allotment Option in Connection With Bought Deal Offering [View article]
    They have some of the best natural gas properties in North America and now have bought into 2 of the best oil plays in North America as well. They have a very good base to move forward from once oil heads up.

    JMO Long ECA
    Mar 20, 2015. 09:46 AM | Likes Like |Link to Comment
  • Reuters unreachable in China [View news story]
    Anyone reading elsewhere in China?
    Mar 20, 2015. 09:05 AM | Likes Like |Link to Comment
  • Higher crack spread could cut Cenovus Energy funding gap, analyst says [View news story]
    My understanding is that the 2 big projects they are working on are over 70% finished which means that next year, funding requirements can go way down and stay their till the oil price co operates.

    JMO
    Mar 19, 2015. 05:51 PM | Likes Like |Link to Comment
  • EIA Petroleum Inventories [View news story]
    Oil pumpers getting more desperate as they keep digging a deeper hole by pumping more!!!
    Mar 18, 2015. 08:59 PM | 1 Like Like |Link to Comment
  • Encana - An Energy Company Looking For An Identity [View article]
    With respect to "Encana does not have an extensive hedging program." - That is correct for oil but they have most nat gas hedged at over $4.00 for 2015 and a sizable amount at over $4 in 2016 as well.
    Mar 18, 2015. 08:54 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Markets Await Fed Policy Decision [View article]
    "Athens is likely to run out of cash by the end of the month and may then default on its debt, potentially forcing itself out of the euro zone." I suspect that that may be what the "new clowns" in Athens had in mind all along. They keep saying something different every day but it is evident that they do not want to pay their bills and really do not want to do what it takes to remain in the monetary union. The smart citizens have already pulled their Euros out of the bank and put them under the mattress.
    Mar 18, 2015. 09:46 AM | 6 Likes Like |Link to Comment
  • Hennessy Gas Utility fund, up 21% last year, highlights six energy favorites [View news story]
    You are giving him credit where he deserves none. The market gains had nothing to do with Obama and his administration and would probably had been that much more if someone else were in the oval office. As for 15 million more Americans having health care, it would have been 30 million more if they had some one who was capable of making a deal. Bottom line is that anything he has accomplished is mediocre compared to what should have been and was so mired in controversy because of his inability to make a deal that the next administration will probably overturn most of it.
    you are dealing with a president where ideology comes first, second and third and everything else comes after that. Even Warren Buffet has spoke out against his actions on Keystone and he is the first president that I can recall where business and other leaders have actually apologized on behalf of the American people for his actions - Pretty sad to say the least. I will also say that when he was first elected, I was a fan and had great hopes - they quickly faded when the reality of his hidden agenda and inability to make a deal or care much about what the American people wanted came to light!!! - Pretty sad to say the least.
    Mar 17, 2015. 04:14 PM | 11 Likes Like |Link to Comment
  • Hennessy Gas Utility fund, up 21% last year, highlights six energy favorites [View news story]
    Hopefully the insanity around Keystone ends when Obama's time in Office ends if not before. Remember that the Republicans have a majority in both houses so Keystone could be part of some legislation that Obama may not be willing to veto. Regardless - with both houses in Republican hands, Obama is more or less snookered. I also do not get all the press on this "legacy stuff". A legacy tends to be something that is long lasting and in his case most of what he got passed has been controversial to say the least and will be likely be negated by the next administration regardless of who gets in. Other than breaking the color barrier which is a big legacy in itself, he will not have much of one. To put it another way, the biggest legacy a president could leave behind is that he did an excellent job of serving the people. In Obama,s case he has failed miserably in this regard - with the exception of some rich minority greens that pander to him, he chooses to ignore or not have a clue as to what the people want.

    JMO
    Mar 17, 2015. 12:30 PM | 20 Likes Like |Link to Comment
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