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awallace

awallace
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  • Guyana assures Exxon as Venezuela revives claim on land, oil discovery [View news story]
    Perhaps the average educational level in some South- and Central American countries that results in the type of politicians who achieve office there. "Bread-and-circuses" is a relic of the Roman times; it still works. In Venezuela, however, the "bread" seems to be in short supply.
    Change is improbable when the ones in power count the ballots.
    Jun 28, 2015. 07:13 PM | Likes Like |Link to Comment
  • Guyana assures Exxon as Venezuela revives claim on land, oil discovery [View news story]
    If that is your opinion of Guyana, I imagine your thoughts on Venezuela are unprintable.
    Jun 26, 2015. 07:47 PM | 23 Likes Like |Link to Comment
  • Chevron slams British documentary on oil pollution in Ecuador [View news story]
    You can prove anything when you get to pick and choose the data on which you base your conclusions. This is especially true of "documentaries" where the producer carefully selects the pictures to be shown.
    Thus it is with Ecuador's supporters in its corruptly-obtained "judgment" by a bribed judge in Ecuador.
    Jun 17, 2015. 08:02 PM | 14 Likes Like |Link to Comment
  • Will Chevron Increase Its Dividend This Year? [View article]
    I have had Chevron since it was Standard Of California; my return on cost is 168% (Yes, that's right), and I think I'll keep it, increase or not. A ,oo1 increase would hold the "streak", and as with everything, oil prices will rise again.
    Jun 16, 2015. 02:14 AM | 9 Likes Like |Link to Comment
  • Santa Barbara denies Exxon request for oil trucks [View news story]
    "Environmentalists" have too much power already.The problem is, none of it is brain power. They demand preservation of species of animals, birds or fish that do no one any good. Species have become extinct over the centuries, and the world didn't even hiccup.
    Jun 10, 2015. 12:17 AM | 7 Likes Like |Link to Comment
  • 3 Keys Why Retired Investors Should Put Maximum Focus And Weight On Dividends [View article]
    Since the price of stocks varies by the minute, I calculate my return percentage on the amount invested. As long as it exceeds what I can get at the Bank in interest, I am content. Mr. Carnevale makes excellent sense to me, in focusing on dividend return.
    May 29, 2015. 04:00 PM | 1 Like Like |Link to Comment
  • Ecuadoreans’ lawsuit against Chevron might need U.S. retrial, judge hints [View news story]
    The matter of a re-trial of the case before a US Court is not before the 2nd Circuit on this appeal, and the question is completely outside the issues before the Court at this time.
    The interesting point here, is the right of the Courts of one nation to find that the Courts of another nation are so corrupt that their judgment is unenforceable.This case has the possibility of exceeding the time in Dickens' famous Jarndice case.
    Apr 21, 2015. 02:20 PM | Likes Like |Link to Comment
  • Chevron, Donziger to face off in $9.5B legal appeal [View news story]
    To Bahamas1: I agree this is NOT about one judge countermanding another. It IS about the courts of one nation finding that the courts of another nation are so corrupt that its judgments are unenforceable. The question posed by the one Justice of the 2nd Circuit, about a US re-trial, is far outside of the issues presented by the present appeal. One point needs re-iteration: Texaco entered into an agreement with the Government of Ecuador long before Chevron took over, settling all claims of environmental damage. That should settle it.
    This matter has a possibility of exceeding the generations-long case of JARNDICE, told by Dickens.
    Apr 21, 2015. 02:12 PM | Likes Like |Link to Comment
  • Chevron, Donziger to face off in $9.5B legal appeal [View news story]
    An interesting (at least to lawyers) aspect of this case that has had little mention,
    is: The effect of court in one country finding that a judgment of a court in another country was obtained by fraud, corruption, bribery, or political influence.
    That is what the American court has found. What would be the result if an Ecuadorian Court issued a judgment stating that the American Court decision, seeking to negate that of the Ecuadorian Court, was obtained by improper influence?
    It remind me of a reported California case of many years ago where a judge on the bench in his courtroom was issuing orders, and another judge, standing in the back of the Courtroom, was issuing countermanding decrees. (I don't recall the ultimate outcome, sorry).
    Apr 20, 2015. 03:53 PM | Likes Like |Link to Comment
  • Citigroup, Argentina face off; Citi slashes CEO pay [View news story]
    This presents a set of very interesting legal questions. Argentina obviously has the ability to order Citibank-Argentina, to process the payments. Judge Griesa has the power to order Citibank-USA not to do so. The question is, Can Judge Griesa find Citibank-USA in contempt if its Argentina units process the payments under local Court orders?
    It would seem that a US Judge is powerless to control actions of a bank in another country that are taken pursuant to that nation's government or courts. The effect would be to greatly weaken any further orders that Judge Griesa might make.
    It reminds me of a case long ago in California, where a Judge on the bench issued orders, and another judge standing in the rear of the courtroom immediately made countermanding orders. That was settled by a higher court, since it was all within one jurisdiction.
    As Spock might have said: "Fascinating!".
    Mar 19, 2015. 03:24 PM | Likes Like |Link to Comment
  • How Can You Sleep At Night Holding Seadrill? [View article]
    It costs just as much to drill for oil that can sell at $50 per barrel as it does for oil selling at $100 a barrel. Therefore, the demand for oil is the governing factor, not its price, in determining whether to drill. (It may even turn out that cheap oil will increase demand). An efficient driller will be in greater demand than a less-efficient one.
    Since I get an 11% return on my investment, the decline in price for Seadrill won't influence me to sell at a loss.
    Nov 20, 2014. 03:34 PM | Likes Like |Link to Comment
  • How Can You Sleep At Night Holding Seadrill? [View article]
    Seadrill pays a dividend of 11% on the amount I paid for shares. Even a 50% cut leaves me with a decent return. Why on Earth should I sell?
    Nov 19, 2014. 01:14 AM | Likes Like |Link to Comment
  • Chevron (CVX) issues an ultimatum to Argentina, saying it will not make any progress on an agreed joint venture with YPF until a court threat to its assets is lifted. "We’d like to work with them," CVX vice chairman George Kirkland tells FT, but "this is our money." The tough line hurts the government’s hopes of forming a partnership with a top global oil company to help develop its vast shale reserves. [View news story]
    Argentina has shown that it cannot be trusted to keep its word, by the pending case on its bond payment, and its continuing (and recently overwhelmingly defeated) claim to the British Falklands. Chevron would do well to stay away from investment of any money in such a country.
    Mar 13, 2013. 03:27 PM | 1 Like Like |Link to Comment
  • 20 Signs The U.S. Economy Is Heading For Big Trouble In The Months Ahead [View article]
    Some people see the doughnut, others see only the hole. As J.P. Morgan once said, "The market will continue to fluctuate".
    Feb 23, 2013. 02:26 PM | Likes Like |Link to Comment
  • Chevron (CVX) loses its appeal in Argentina against asset freezes to enforce an Ecuadorean judgment for it to pay $19B in damages for environmental pollution. Even as CVX has refused to make any payments and accuses Ecuadorean courts of fraud, it may need to spell out the impact of the decision in its upcoming financial statements or risk violating SEC rules. [View news story]
    The best, and perhaps only, way that an American company can safely do business in Latin America, is through separately-formed, (and remotely owned) corporations, who lease or rent their equipment in turn from out-of-the-country corporations, and who disburse their income over and above expenses promptly to banks in other countries where legal proceedings are less corrupt, and less subject to the dictatorial governments.
    Jan 30, 2013. 11:35 PM | Likes Like |Link to Comment
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