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More feel-good B.S. from our government :
WASHINGTON (AP) -- Winter heating bills are expected to be slightly lower for most families across the nation, with the highest reductions for those who use natural gas, the government said Tuesday.
http://biz.yahoo.com/ap/061010/winter_heating.html?.v=13
Seems to be based more on the current NG prices and stockpiles than on the climate and weather projections, which are hedged and waffled a few times in the article.
IMO, there is no way climate models are good enough to predict anything, especially 3 months out. Look at this hurricane season. Winter temperatures could go either way. Might as well try to predict the economy or the stock market.
Good to hear, and thanks for the updates.
Speaking of NG prices, I wonder if it would be possible to bring in current oil & gas prices or graphs to the board header (like the StockCharts display of PRVB).
Perfect. Put webcams up to monitor all of the activity at the different wells, feed the video to the header of this board.
Also, one in Brian Fox's office! (LOL)
OT:
hillzman, you're right. It seems all of the propositions that make it to the ballot are produced by people with an axe to grind (I live in SoCal).
Now that I'm getting all spun up, I'm about to write a letter to Schwartzenegger about this conservation issue. Who are his energy advisors, anyway? He's pushing a hydrogen car program, that's a non-starter; maybe the backers know that...nothing kills the appetite for reform more than a badly-failed attempt.
hillzman: you are absolutely correct, and my apologies for not listing conservation as by FAR the best of any 'alternative' energy sources, and one that doesn't get talked about as much as it should by the ignorant politicians. But what do they know...
Here's an interesting link on the effects of changing out incandescent bulbs to the compact 'swirl' fluorescent lamps:
http://www.fastcompany.com/magazine/108/open_lightbulbs.html
Bottom line: 1 bulb swap per American household = two power plants displaced.
Average American household has 50-100 bulb sockets. Do the math.
PRVBwealth: " Don't base your investment decisions on USA Today "
That's for sure. I just heard from my neighbor the other day that oil is headed to $20/bbl !!!! (which I think he heard on CNBC)
Most things are cyclical, and there's no doubt that we're caught up in a cyclical movement now, but I can't see $20/bbl, for all the good reasons laid out by PRVBwealth: diminishing supply, growing demand, market manipulation, supply manipulation, and big money being the driving factor.
PRVBwealth: "...it's too late in the game to be saved by alternative energy sources."
I tend to agree (and I'm a bigtime greenie):
1) Hydrogen cars: a joke. Uneconomical, undeveloped infrastructure, unnecessary.
2) ethanol: uneconomical, a farming/eco disaster dreamed up by the corn lobby.
3) nuclear: great potential, but long timeline, massive cost overruns, uranium supply issues.
4) solar: still waiting on that quantum jump in solar cell efficiency that's needed.
5) wind : a joke// hydro: an eco disaster that's tapped out// tidal power: another joke// fusion: still theoretical, too expensive, a job-security program for researchers in applied physics.
6) coal, coal gasification, etc. Possible. Very dirty. Unnecessary.
7) geothermal: Limited; need to tap into that big magma reservoir under Yellowstone to get any decent energy amounts.
Well, it looks like natural gas (and oil) is still on the plate: plentiful, cheap, existing infrastructure, clean relative to coal. As for pollution concerns, central power plants can be scrubbed of CO2 and other noxious emissions many, many times easier than mobile power sources can. Mobile sources hopefully will cease to be an issue as the internal combustion engine is replaced in the next 10-15 years by electric motors powered by batteries and/or hypercapacitors. As we switch to electric powered transportation, central electric power plants will have to multiply to replace gasoline refineries.
And I can believe that Saudia Arabia would start talking about production cuts. Surprisingly enough, Saudia Arabia is one of the biggest debtor nations out there. Their diminishing reserves mean that they will want to keep the price up as much as possible to milk the maximum $/bbl for what they have left.
To disagree slightly with your scenario, we won't need to 'go in' for years yet-- Iran is five, most likely ten years away from the bomb. And all we would do is take out their centrifuges, which are now flying apart on their own without any help from us. Amadinejad is currently living on borrowed time with the Iranians. The mullahs are just using him as a front to pressure us into talks. They would like nothing else better than to normalize relations with us. Our military is tapped out, and will be locked up in Iraq and Afghanistan for the next five years, anyway. We need to get in there and start talking to the Iranians, but this probably won't happen given the two mentalities of the respective presidents.
That opinion said, the price action may play out as you suggest, but whether it happens short-term or longer, it will eventually happen.
Before the old hands jump all over me, there are also two more old interviews on this page:
http://www.ericdavid.com/interviews/main.html
Everyone have a good weekend.
No doubt most of you have read this interesting old interview, but I just read it for the first time:
http://www.ericdavid.com/newsletter/mailer/prvb020705.htm
PRVBwealth, great posts!
And with the Asian (i.e., Chinese) investors who want to grab a piece of oil security from their working interest and who will probably be feeding more and more into PRVB's expansion..... can anyone say 'exponential growth curve'?
By the way, it's great to have you back, PRVBwealth, we all missed your expertise and insightful posts.
And PRVB is up today, too!
Yes; unfortunately the California Public Utilities Commission (CPUC), not to mention the Federal Energy Regulatory Commission (FERC), seem to be in bed with the Liquified Natural Gas (LNG) lobby (mainly Sempra Energy), despite the fact that domestic ng is significantly cheaper than bringing it in from overseas (from 3rd world stranded ng producers willing to sell at rock-bottom prices).
Gateway, I add my own accolades, congratulations on your new board header!
Starnes: thanks for the chart links, very interesting.
PRVB is a long-term hold/buy, and if you believe all of the predictions flying around for a warm winter (I don't; climate models seem to be good out to about 2 weeks tops, weather models out about 3 days), may not go up a great deal in the next few months. Certainly not a momo stock yet, that won't come until it gets up arounf $2-$3, a long ways from now. The volatility in the oil futures market is amusing; Mr. Market is a schizoid nutcase. What else is new.
This company is a little jewel, and if Brian Fox can keep doing what he's doing, it can only get more so. I've about decided not to look at the daily price action anymore for awhile, too nerve-wracking and no point to it, since I'm in until it is multi-dollar at minimum. Whenever I have doubts, I just look at the financial statements, proven reserves, and old good posts from this board.
A great group here, some good perspectives, no bashers, no idiocy (ala the RB board), no over-the-top pumping.
Keep up the good work, all.
bobo
Great start on the new header! Here's my $0.02 critique:
1) Don't forget to put in the great stuff PRVBwealth wrote up about the company and Brian Fox's methodology. This should be at the top someplace, prominent.
2) I'd leave out the bit about the celebrity sports whatever-- irrelevant.
3) Missing some dollar signs in the reserve figures.
4) Some info you gleaned from the co. website is out of date: Also, condense some of those site descriptions. Just talk about total wells, producing wells, rough timetable for project completion, site reserves (if available)
5) Add links to financial sites.
6) Add why this is a good investment (just pool all PRVBwealth's last ten posts) over the long term.
cheers,
bobo
The 8th Weesatche well has been completed:
http://biz.yahoo.com/iw/060912/0162118.html
Graph, post 1131, forgot credit:
Ten-day moving average of prices of NYMEX Light Sweet Crude, taken from data at the New Mexico Institue of Mining and Technology. Prices are nominal (not adjusted for inflation).
link:
http://en.wikipedia.org/wiki/Petroleum
I am in this stock for the long haul. If it has an (average) appreciation rate of 1 cent a week for the next 2-3 years, that's fine with me. But it's going to demonstrate some ups and downs, with all of the speculation in oil, sector rotation in investments, politics, etc., so patience is the essential watchword here.
If this last year's company performance is precedent, then we are in for a great trip.
Good luck to all of you fellow PRVB longs.
I second that motion. PRVBwealth has brought a lot of good info and great-sounding stuff to this board.
By the way, I read somewhere that Henry Kissinger had correctly forecast $50/bbl oil by 2005; he also forecast $150/bbl in 2007. Something to think about.
bobo
Whoops! midwestoginvestor: you beat me to it. It will be a great upgrade.
Excellent updated summary/intro by PRVBwealth in posts 1090 & 1091. Very nicely written, as usual, PRVBwealth.
I, for one, encourage the board moderators to replace the outdated overview with this new one, plus add links to all of the good stuff: company website, interviews, some of the graph sites that others have posted recently, financial sites: yahoo, advfn (that was a good one).
How about it?
bobo
Glad to be aboard, it's a great board you have here. Much more intelligent and reasonable than any board I've observed (hope I don't throw a hex on it by saying that....)
I'm a stockholder since early '05, recently added much more.
Yes, Brian Fox is good. I like his model of using overseas investors to obtain the properties by trading a working interest for capitalization. Result: no debt, a paid-for reworked up-and-running income stream, and potential property sellers beating a path to his door. As opposed to debt-ridden, poorly capitalized half-bankrupt stalled-out companies that can only issue more stock to keep going.
PRVBwealth: "The world is all about energy from here on out."
Agreed. The future of oil and natural gas is assured. And for those Greenies (like myself), who are rightfully worried about climate change, the use of oil/ng for fuel is not the problem, the problem is one of uncontrolled emissions. The solution? OK, everyone, all together now : "Carbon dioxide scrubbers".
(Now there's an economic opportunity...)
Personally, I would like to see an evolution towards nuclear/solar for stationary plants, and hybrid technologies for portable power (cars, etc), thus preserving more of the fossils for chemical manufacturing; but regardless, fossil reserves are diminishing and will become VERY valuable in the foreseeable future.
Brilliant little companies like Brian Fox's are going to raking it in for the next 50-100 years. Buy, hold, and pretend you're Warren Buffett.
Interview:
Last night. Click on 08/20/06 - Hour 1-
http://www.businesstalkradio.net/weekend_host/Archives/cs.shtml
Outstanding!!!!