Sunday, July 26, 2009
Monday, July 20, 2009
ConocoPhillips CEO talks to Bloomberg
ConocoPhillips' CEO Jim Mulva talks to Bloomberg about Energy policy.
Jim recently gave an excellent speech in Detroit were he discusses the world's energy infrastructure. Here's his speech
Jim recently gave an excellent speech in Detroit were he discusses the world's energy infrastructure. Here's his speech
Chevron CEO's Energy Outlook
David O'Reilly, Chairman and CEO of Chevron talks about Energy Outlook.
Lee Raymond Interview - 2007
Former Chairman and CEO of ExxonMobil, Lee Raymond discusses energy prices and alternatives. Although this is an old interview, it is still relevant.
Sunday, July 19, 2009
Marc Faber criticizes the Fed for having caused all bubbles in the US economy. First after the stock market bubble of the 1990's, the Fed massively increased the money supply in 2001, and kept interest rates at 1% almost three years after the US economy recovered. These irresponsible actions created the housing and credit bubble in the early part of the decade.
Not only that, but he mentions that employment in the US in June was about the same number of people employed in the year 2000! In other words, all the employment gains since 2000 have been lost in this depression. If unemployment were properly measured, the unemployment rate would be 16%. See the chart below:
Faber also discusses that not only was the 2002 recovery a jobless recovery, but that quality of jobs has declined. The US has changed high-paying, high-value adding manufacturing jobs for service and retail jobs.The US dollar has lost 95% of its value since the Fed was founded in 1913 (in other words, something that cost 5 cents in 1913, today costs more than a $1) Faber says that the other 95% of purchasing power loss will take only 10 years.
Sunday, July 12, 2009
No New Energy Taxes!
In the upcoming 2010 US Federal Government budget, the government is proposing $400 billion in new taxes to the Oil & Gas industry. As any tax does, this will decrease domestic oil & gas production at a time when more energy, from all sources, is needed.
Moreover, one of the few industries that is doing OK in this depression is the O&G industry. If these new taxes pass, million of jobs could be at risk. Just here in Texas, the Oil & Gas industry indirectly supports 32.3% of all jobs in the state (2.8 million jobs)
To learn more, please visit this website.
Moreover, one of the few industries that is doing OK in this depression is the O&G industry. If these new taxes pass, million of jobs could be at risk. Just here in Texas, the Oil & Gas industry indirectly supports 32.3% of all jobs in the state (2.8 million jobs)
To learn more, please visit this website.
Sunday, July 5, 2009
Commodity Bubble Revisited
By Chris Puplava
In the future, whenever you hear someone call the commodity bull market a bubble, simply tell them the following:
- Show me the bubble in inventories!
- Show me the bubble in capital expenditures excluding inflation!
- Show me the bubble in employment!
- Show me the bubble in valuation multiples!
- Continue to read more
10 Reasons Why Now Is A Great Time To Invest In The Energy Sector
by Bill Powers
Editor, Powers Energy Investor
July 2, 2009
Reason 1: Low Valuations
The 74% drop in the price of crude and a similar drop in the price of natural gas that began in middle of 2008 and continued into early 2009 devastated valuations in the oil and gas sector.'
Reason 2: Peak Oil
Peak Oil means that the world will no longer be able to grow production on a year-over-year basis irrespective of price or new technology.
Reason 3: Peak Natural Gas
According to the US Department of Energy, domestic natural gas production peaked in 2001 19.61 trillion cubic feet (tcf) from 373,304 producing wells.
Natural gas directed drilling on a scale never seen before caused US production to reach a second peak of 20.57 tcf in 2008. However, this second peak is not only unsustainable, but it has set the stage for an enormous collapse in US gas production and a spike in prices in the second half of 2009 or early 2010.
Reason 4: Terrible Investor Sentiment
After a cathartic selling of everything energy in the second half of 2008 and into the first quarter of 2009, many industry insiders and investors have reached a level of despair that has rarely been seen before.
Click here to see the other 6 reasons
Editor, Powers Energy Investor
July 2, 2009
Reason 1: Low Valuations
The 74% drop in the price of crude and a similar drop in the price of natural gas that began in middle of 2008 and continued into early 2009 devastated valuations in the oil and gas sector.'
Reason 2: Peak Oil
Peak Oil means that the world will no longer be able to grow production on a year-over-year basis irrespective of price or new technology.
Reason 3: Peak Natural Gas
According to the US Department of Energy, domestic natural gas production peaked in 2001 19.61 trillion cubic feet (tcf) from 373,304 producing wells.
Natural gas directed drilling on a scale never seen before caused US production to reach a second peak of 20.57 tcf in 2008. However, this second peak is not only unsustainable, but it has set the stage for an enormous collapse in US gas production and a spike in prices in the second half of 2009 or early 2010.
Reason 4: Terrible Investor Sentiment
After a cathartic selling of everything energy in the second half of 2008 and into the first quarter of 2009, many industry insiders and investors have reached a level of despair that has rarely been seen before.
Click here to see the other 6 reasons
Hyperinflation Nation Movie
Although I disagree that we will enter hyperinflation like Weimar Republic in Germany, this is nevertheless a good movie. I think we will enter CPI rates of 30-40% in the next couple of years. Click here to check out the true CPI rate
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