Global Market Commentary, Analysis and Investments
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There are two things I am absolutely certain of. First, next April 15 I will be writing a check to the IRS. And second, natural gas will be the primary fuel for the next 100 years.
Well-positioned gas companies will be golden for many years to come, and no one is doing it better or has more potential than Chesapeake Energy (NYSE: CHK).
[Read more...]The writings of H.L. Mencken — the Sage of Baltimore, the home of Agora Inc. — have been a constant companion for me since the start of my writing life. The brilliance, the language, the insight, the derring-do opinionating, the history, the astounding literacy — it’s all here, and it all flows seemingly without limit. All these features are combined in one mind and life, yet none of these features is the reason why it is important to read Mencken. The most important reason is that Mencken assists in the great struggle to free yourself from intellectual conventions and become a mature observer of the world.
[Read more...]“How do we explain 15%?”
I caught that quote yesterday afternoon from one of the financial news anchors as he attempted to decode the recent market action. It’s all too clear that what we’ve experienced during the first five months of the year feels foreign to everyone living in a post-financial crisis world.
[Read more...]Watch today’s trading video covering setups unfolding in the market for today and next week.
If you could safely turn $8 dollars into $40, would you?
What about turning $800 into $4,000? Same question, right?
If you answered yes to those questions, which I’m sure you did, then you’re already onboard with half of today’s energy story.
That is, most American shale oil wells are set to payout at the odds above. You see, the average shale oil well costs anywhere from $5-10 million to drill, complete and put into production – let’s call that $8 million in total upfront cost. Once put in to production, though, the estimated ultimate recovery (EUR) for a productive well could payout to the tune of $30-40 million.
[Read more...]The wind was blowing so hard on the banks of the River Thames we had to replay it a few times to hear correctly.
“The need for OPEC to…”
We turned up the volume some more…
“The need for OPEC to be a player in the U.S. oil market isn’t really there. We’re not going to be depending on them like we used to.”
[Read more...]The newspapers and TV channels reported the Dow 15,000 story last week as though it were just a stepping stone on the way to 16,000… or 20,000… or 30,000.
Heck, the sky’s the limit!
Investors have reached a new level of bullishness. They’re borrowing again to buy stocks, confident that prices go in only one direction.
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A New Spin on the Oil War
One of the main stories not being told about today’s oil market is the next round of turbulence set for the Middle East. It’s the oil war scenario, but with a new spin.
Last year when Byron King and I attended the Platts Crude Oil Conference, a main takeaway was an interesting OPEC break-even chart that shows how much money OPEC nations need to keep their governments funded. Take a look:
[Read more...]Click for detailed story