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marpy

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  • Senate Republicans block amendments to Keystone bill [View news story]
    With Keystone, it really is time for Obama to make a deal as if he wants to accomplish anything in his last 2 years he needs to start making some deals. The petroleum coke by-product that some are whining about is actually a useful commodity that is sold to other companies.
    Jan 21, 2015. 10:16 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Gold Rises Ahead Of ECB Meeting [View article]
    If Obama wants to accomplish anything in his last 2 years, he will have to start making some deals. Keystone would be a good starting point! As for the petroleum coke some are trying to make such a big deal out of - its a useful by-product that is sold to other companies.
    Jan 21, 2015. 10:10 AM | 3 Likes Like |Link to Comment
  • Natural Gas: It Is Alive, But For How Long? [View article]
    Something tells me the so called "dark pool players" are pounding nat gas down as they build positions. A lot of nat gas was produced by oil drillers and with the rig count in decline, this will have an impact on nat gas. When you couple that with increased usage by power plants and all sorts of industry and LNG exports slated to start at the end of this year with more to come, I can't see nat gas doing anything but going up from these levels. Stocks like CHK and ECA are now in bargain territory!!! JMO
    Jan 20, 2015. 04:23 PM | 2 Likes Like |Link to Comment
  • ArcelorMittal to sell sole Russian asset [View news story]
    Something tells me they took a bath on that sale! No wander they are not telling. Russia is not exactly a good place for western companies to do business as i seems that for every one that can make some money, 10 get fleeced!! JMO
    Jan 20, 2015. 04:16 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: China Posts Slowest Growth In Decades [View article]
    The only group that the government can tax and actually end up with more money collected is the middle class and so what they do is call it a tax on the wealthy when in fact most of the tax collected will come from the middle class. One big sham to fool the American people.
    Jan 20, 2015. 08:35 AM | 27 Likes Like |Link to Comment
  • Money Dries Up For Oil And Gas, Layoffs Spread, Write-Offs Start [View article]
    The nut bars disciples have their marching orders - go forth and post junk everywhere!!!! ;-)
    Jan 19, 2015. 08:56 PM | 3 Likes Like |Link to Comment
  • Money Dries Up For Oil And Gas, Layoffs Spread, Write-Offs Start [View article]
    It was the coldest winter and coolest summer in a long time for a lot of North America so you can take it from there! As for the recent reports - if they are from the Greens or similarly biased organizations, credibility = zero.
    Jan 19, 2015. 08:52 PM | Likes Like |Link to Comment
  • Bakken Update: 2015 Oil Prices Are Key To Bakken Rig Movement [View article]
    Trying to survive and even prosper in a low oil price environment by moving to better areas works provided you have acres in these areas or at least can by drilling rights at reasonable costs. In this environment though everyone gets the same idea with respect to high grading or moving to better areas and so unless you already have the acres, it may not be possible. One would need to focus on companies that are already holding the prime land.

    JMO
    Jan 19, 2015. 05:44 PM | 2 Likes Like |Link to Comment
  • The Swiss National Bank's Move And What It Means For Gold Investors [View article]
    First of all, Currency pegs or what ever you want to call them are nothing more than some entity trying to manipulate the market. Over the short term they have some effect but over the long to medium term they never work.
    So really, all that this decision to abandon this currency peg really means is that the Swiss came to the conclusion that it was costing them a lot more than they were gaining and that it was time to throw in the towel. Yes the impact of upcoming Euro QA may have been the straw that finally broke the camels back.

    That's the long and short of it IMO.
    Jan 19, 2015. 10:39 AM | 3 Likes Like |Link to Comment
  • Cheap Oil Prices Do Not Benefit The Economy [View article]
    for every person or company the drop in oil prices impacts negatively you have 100 plus people or companies impacted positively. It may be bumpy but the overall impact is IMO positive. Even when oil prices do come back, I suspect that the Saudis and their allies will work to keep them from rising above $80 per barrel. They have seen the writing on the wall with respect to the impact of shale production and alternatives to oil when the price of oil gets to high. They want to get as much as they can and for as long as they can for their oil and this means 100 plus oil is history for a long time to come (barring any major disruptions to supply). $60 - $80 oil should in the long run provide the balance that they are looking for. JMO
    Jan 19, 2015. 10:29 AM | 15 Likes Like |Link to Comment
  • Oil the big macro theme at Barron's Roundtable [View news story]
    For every person and company that is impacted negatively by low oil prices, you get 100 or more that are impacted positively. There will be a transition but overal its a positive. Even if oil comes back up to between $70 and $80 per barrel (which I expect that it will over the next year or so and ideal for the market in general), the net impact will be a positive.

    JMO
    Jan 17, 2015. 09:15 AM | 5 Likes Like |Link to Comment
  • Chevron: A Crude Awakening Looms [View article]
    Not sure what you mean by "But you have to admit there are very real similarities to the oil shock of 1986 and the current oil shock of today." My understanding is that at the time, the Saudis and opec had decided to defend price and that by the time they decided to throw in the towel, Saudi production had dropped from over 10 million barrels per day to about 3 million barrels. This time around, they have decided to defend market share. - A very different strategy.
    Also with respect to shale production, one would think that the high depletion rate of wells coupled with the need for continuous capital spending to drill new wells will mean that at current prices production from these fields will drop off rather quickly. A lot of the production in these fields was fueled by cheap debt which is now more expensive if available at all. The economics of producing from these fields has changed considerably and sure costs can come down but I am not so sure that they can come down enough to bridge the difference needed.
    You also have many companies cutting budgets and putting projects on hold. While this does not impact currant production much, it will slow down growth in future production.
    What all the above tells me is that although we may not have yet seen the bottom in oil prices, we should not be in a bear market for an extended period of time.

    JMO
    Jan 17, 2015. 09:07 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Swiss Stocks Extend Slide [View article]
    Not to say Cuba had much with Castro but the only thing Cuba had pre Castro was a lot of corruption and criminal activity. For most citizens it was a craphole before and during Castro. What the future will bring, we will see. JMO
    Jan 16, 2015. 09:29 AM | 4 Likes Like |Link to Comment
  • Falling Rig Count Could Cause Natural Gas Production Decline [View article]
    Yes this is coming as many oil/ liquids wells also produce considerable natural gas and companies with large dry natural gas positions should do quite well as a result in the slow down in oil/ liquids drilling. ECA is a large player in the Haynseville and seem to be doing quite well with a program of re fracking their old wells. They are also key players in a number of other natural gas plays and have recently moved into the Eagle Ford and Permian which should do well for them when oil does rebound. JMO Long ECA
    Jan 15, 2015. 02:33 PM | Likes Like |Link to Comment
  • Saudi Arabia: Cutting Off The Hand To Save A Finger [View article]
    By protecting market share, what the Saudis are doing amounts to short term pain for long term gain. The last time they tried to defend price over market share, their production dropped from over 10 million barrels to 3 million barrels as other just kept increasing production as the price stayed up and Saudi production dropped. You can be sure that once the current bear market in oil comes to an end, that most producers will be a little gun shy and be constantly looking over their shoulder as the Saudis are showing that they are quit serious and will go to extremes to protect their market share. Even those producers that may want to start running full tilt when the markets turn positive, are going to find that the banks have become a lot more cautious with their money. The Saudis want to take out high cost production by others and keep it out for as long as possible so that they can get maximum average dollar for as much of their low cost production.
    Note that the big Iron Ore miners are following the same strategy and I suspect that the strategy is very sound. JMO
    Jan 15, 2015. 02:17 PM | 6 Likes Like |Link to Comment
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