“This disaster in the Gulf will bring so much joy, such great future for the US!â€? Marcio Mello said yesterday during his presentation at the Agora Financial Investment Symposium. If you are unfamiliar, Mello is the geological legend responsible for Brazil's massive deep-water oil discoveries in the last few years. He shared his thoughts at our annual Symposium yesterday…
[Read more...]Some Oil Stocks Are Oversold
June 2, 2010 By Leave a Comment
Sweaty hand-wringing over US stocks continues. The S&P fell another 1% and change yesterday.
Of course, leading the market down, yet again, was everyone’s favorite oil stock British Petroleum (BP). Indeed, uncertainty is the order of the day…how big is the spill, when will it be capped, how much will it cost? The company said yesterday it has already spent $1 billion on cleanup.
[Read more...]The End of Cheap Oil?
May 17, 2010 By Leave a Comment
Deep Do-Do Horizon
“Following the Gulf disaster…it will be a long time before any new permits are issued for drilling for oil in the Gulf…” said Rick Rule, at the Family Office get-together this weekend.
And this from Bloomberg:
Senators from California, Oregon and Washington introduced legislation to ban oil drilling off the West Coast amid mounting concern about the spill in the Gulf of Mexico.
[Read more...]Three Mile Island for US Oil
May 17, 2010 By Leave a Comment
Willie Shakespeare may have summed it up best when, borrowing the voice of King Richard III, he penned “A horse! A horse! My kingdom for a horse!”
History is replete with examples of how, but for the proverbial horse, kingdoms have been lost.
My reference point is an accident that will almost certainly lead to tragic miscalculations and havoc down the road. And, I might add, an exceptional opportunity for the patient and attentive investor.
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The Brighter Side of the BP Oil Spill
Yes, you can think of the BP well blowout as the end of the road if you want to – if not the end of the world. Or you can look at how this will change the energy landscape in general, and the oil industry in particular. And then you can get out in front of it, and act and invest accordingly.
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