worthy

Alyeska Favors Energy Producers

Unless I am mistaken, Alyeska's picks in energy are energy consumers, used to make electricity, and/or energy conveyors, as in natural gas distribution. Producers? Try xom, cop, chk, et al as actual producers ( at least finder's of that which creates energy...).

Update on Three Canadian Oil Royalty Trusts

Regarding my last comment: I can spell also, but my keyboard cannot...

Update on Three Canadian Oil Royalty Trusts

Recheck the yields in your spreadsheet to verify their accuracy. Alsso, a simple way to compare apples to apples: 1.00 X .803 Canadian $), X .85
(Payout left after Canadian 15% tax) = 68.2 ( what's left for the investor after all circumstances affecting the US dollar, taxes, et al. So, if AAV for instance were purchased at $2.30 (U.S.) its true after tax return to a U.S. Citizen= .04*12=.48 yearly; .48*.682=.3274 (Dividend in U.S. Currency);
.3274/2.3=14.23%. Not a bad after tax yield assuming one reclaims the Canadian 15% at tax time.

Your Oil Stocks Aren't Coming Back

Aye. If it were only that easy. Xom to Dell, Slb to intc, You-name-it Oil/oil service to you-name-it technology. What's missing here are two main points: 1. Once used, hydrocarbons are gone forever. 2. Regardless of whatever oil/gas well one speaks of, it's productive capacity diminishes every day. No other commodity can make this claim that can be either renewed, and/ or recycled.

Savior: Technology good enough to replace oil. Not here yet.

Four Energy Bargains

Larry,
The adage, "Buy when there is blood in the streets", was, I believe, first iterated by Sir John Templeton, however, I have heard Mr. Buffet state it many times, and more significant, he has employed it's message many more times.

Pfizer Is Worth Another Look

Excellent article presenting both sides of the case for Pfizer. Well done!

GE: Why Buying on Weakness Is an Excellent Idea

Welch got to paddle downstream.
Immelt has had to paddle downstream

A Supply Side Problem: Oil's High Price is Here to Stay

To Brian Pursley,

Yes, and who knows, perhaps baked beans and kraut will power the proverbial Dutch windmills.

A Supply Side Problem: Oil's High Price is Here to Stay

The two comments thus far are overly simplistic. The original article also has a flaw. The notion that a supply level of "x" will lead to inelastic pricing is valid. The problem is that we do not know at what supply level. We do not know the degree of demand destruction owing to the "flipside" of inelasticity, i.e. higher prices can reach levels that destroy demand to the degree that is presently immeasurable, because we have never been in a worldwide economic circumstance like we are now. Further, complementary fuels such as natural gas, coal, et al can "steal" some of that demand permanently. Add in solar, and wind generated electricity, and one is hard pressed to know what oil demand is going to look like over the next decade or two.
It is probably a safe bet that we won't see $50 per barrel anytime soon, but???, who thought the Nasdaq could fall 80% as it did from the years 2000-2002? As the old saw goes, "never say never"...

Exxon's Record Taxes, Capital and Exploration Spending in Perspective

Amen, Dr. Perry. Thank you for setting the record straight.

Four Long-Term Winners Selling at Deep Discounts

Larry,

Excellent! If only the analysts would use your grandmother's wisdom in their work...

Worthy

20 Guidelines for the Individual Investor

Calisdad: Good manners+equity investments= LOSERS!

Pfizer: Dividend Yield Makes It a Haven in This Market

Recall the late 90's when Pfizer briefly touched $50 with a multiple somewhat similar, and almost any drug analyst one listened to back in 1999 felt that Pfizer with its compelling pipeline was expensive for a good reason, and that its future growth was assured. Shift forward 9-10 years and we find the sentiment just the opposite. Back in '99 it was "Viagara all the way". Today it's "no pipeline to replace Lipitor". If this isn't a contrarian's delight, I don't know what one is! I own this stock.

Current Market Conditions and Future Returns

AMEN! At least regarding CNBC. Their thinking is far too short term oriented. They also have the bad habit of cutting off the remarks of the best guests, while the least accurate are allowed to drone on.

Pay Attention to Oil Decline Rates

Great article, Jim. I agree with you that getting accurate information as to actual rates of decline is somewhat difficult, but the main point that I think many people know, but ignore, is that all fields decline. Duh! Right? What is so problematic is not just replacing that production lost to decline, but adding enough more production to accomodate additional demand. 87mm bbls a day say losing 5% is 4.35 mm bbls lost each year. If we need an additional 1.5 mm bbls for increased demand, we need to find just short of 6 mm bbls per year. Very simple math. Regrettably, those who would deny drilling rights for the OCS, ANWAR, and other areas, just plain do not "get it". Actually, they probably do "get it", but need to get re-elected this fall...