Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Much appreciated. My sincere ‘Thank You’ for the support and well wishes. I will be back before you know it.
In my absence, remember the Mantra, Many More shares Matters Most!
Up, up and away. Leaving on my beautiful GSPE balloon.
Mrs. Smith
I may be MIA for a while. Not sure yet, but likely. So keep an eye out for el Mucho Lurko in case he has a question.
Spec will be fine without my presence. I will be back as soon as possible.
Until then,
Mrs. Smith
My Perception was that the Participant’s Performance was conducted Professionaly while Palavering about Popular energy Policies, and they did not disrespect the Platform. They seemed knowledgeable and I did not hear anything too objectionable. But it was +2 hours long.
One of the key points made is that between now and 2050 natural gas will stay a critical component of U.S. energy.
Super Yikes! Now we are cooking with GAS. The molecules of US energy independence. From GOM production too, I trust. So bring it on and drill Tau 2.
Mrs. Smith
A January 26th Roundtable on American Energy Security by the Energy and Commerce Subcommittee on Energy, Climate, & Grid Security.
A video of your government in action. Enlightening throughout.
‘On the road to a healthier offshore industry’, released January 23, 2023.
https://www.workboat.com/viewpoints/on-the-road-to-a-healthier-offshore-industry
Excerpt:
“Barclays’ 38th annual E&P Spending Survey calls for a healthy onshore spending increase with an upside bias, but importantly they see offshore spending increasing at twice 2022’s rate of increase (24% vs. 12%). This should be welcomed news for offshore contract drillers and their support providers, especially as producers are stepping up deepwater drilling in addition to more shallow-water work. Hunting elephant oil deposits in deepwater is becoming a higher priority for producers assessing long-term global oil industry supply/demand dynamics and their production profiles, especially as the prolific U.S. oil shale basins offer limited growth opportunities.”
Mrs.Smith
A quote by Secretary of Energy Jennifer Granholm on January 23, 2023.
“Yeah, so, first, with respect to LNG, we know that our liquefied natural gas exports have been a significant help to our allies.”
“And it’s an important — it’s very important to make sure that they have the means. We are fortunate in that we have an abundance, obviously, of natural gas in this country. Our prices are low. But during times of challenge, we want to help our allies as well.”
“We want to make sure it’s the cleanest natural gas, which is one of the reasons why the Inflation — excuse me — the Bipartisan Infrastructure Law really invested in carbon capture strategies and storage strategies.” (Inflation? Was that a Freudian slip?)
“So, that’s an ongoing issue and an ongoing conversation we’re having with industry…. Unquote.
Below is a link to an EIA article titled, ‘Pipeline projects announce to expand Permian natural gas capacity’.
https://www.eia.gov/todayinenergy/detail.php?id=53319#
Mrs. Smith
While investing, one may rarely get to ‘beyond a reasonable doubt’, but we can still make good decisions by following the ‘preponderance of the evidence’ rule. If you look closely, the power and strength of these stock moves is towards higher prices.
We might soon have new folks attending our party. From the totals at some popular sites, there are about twice as many following GSPE now as was following it several months ago. Just thought that observation might be of significance to some.
Whale watching is turning out to be more interesting than was expected. Feels more secure too. This might be the sweet spot. I will wait it out from here.
“… I am just sittin’ on the stock every day, waitin’ time ……” (Otis Redding lyrics paraphrased).
Mrs. Smith
The 118th Congressional Bill, H.R. 22 (Protecting America’s Strategic Petroleum Reserve from China Act) has been passed by the House. An update.
“NJ Democrat, Frank Palone said he plans to take advantage of the open rule to offer as an amendment a measure he sponsored that would create an ‘Economic Petroleum Reserve’, through which the Energy Department would purchase oil at a low price and sell when prices are high to address high pump prices.”
Palone failed to move his Congressional Bill, H.R. 8989, (The establishment of an Economic Petroleum Reserve) beyond the ‘Introduction’ stage in the 117th Congress under Pelosi’s control. So basically he still wants to sell the Strategic Petroleum Reserves to China at will (using the ‘waiver’ clause in H.R. 8989). Good luck with all this gibberish in the 118th Congress. Thankful for House Rs.
The first flaw I see with his plan is, that in order to be successful, you first need low prices. By the way, at today’s prices, Joe will not even refill the Strategic Petroleum Reserve (SPR) with the 266 million barrels he now owes it. The second flaw is that Palone is somewhat vague about how the profits will be used. This portion of his plan needs to be further developed before it can even be considered.
Some Ds would love to split the Strategic Petroleum Reserves in to two categories, the (SPR) and the (EPR). Again, good luck with that. Sanctimonious, Slippery little Suckers. Got to watch these guys, they are trying to both control the price AND create another revenue stream to fund their liberal agenda. Neither of which promotes national security in time of crisis.
Mrs. Smith
My crystal ball is leaving me with the perception that the stock price should ‘stabilize’ between .007 and .01…..
Trading activity could slow due to reduced volume. The stock might come under pressure from manipulations trying to push the price lower.
The silver lining is this will be an opportunity to purchase shares at a reduced cost. But, unfortunately, not much volume to take advantage of.
So ‘dirt bids’ will likely not be tested. With the limited shares available to be purchased, it will be ‘first come, first served’.
Once again, there is no Path to remarkable levels of Personal Profit following that Plan. You can hold me to it.
As in the past, there are many that intend to hold their positions and perhaps add more shares. But buying is not so much dependent on the price. Depends on the volume.
Expect that higher share volumes will cost a premium. But some will get more shares anyway, before any news breaks. This may be the time for ‘better early than late’.
But please note, I advise no one to sell, to buy, or take actions of any kind. Caveat emptor.
Still waiting for the show to start. And I wish I knew the starting time. That would make it all much easier.
Mrs. Smith
By the way, I failed to mention that there are (10) GOM lease sales proposed in the latest 5 year BOEM lease plan.
See links for details:
https://www.boem.gov/sites/default/files/documents/oil-gas-energy/national-program/2023-2028_Proposed%20Program_July2022.pdf
https://www.boem.gov/oil-gas-energy/national-program/national-ocs-oil-and-gas-leasing-program-2023-2028
Mrs. Smith
I find solace in the expectation that the BOEM may hold as many as (3) GOM oil and gas lease sales in 2023. The (2) Biden stalled 2022 GOM lease sales, 259 and 261 from the 2017-2022 National Oil and Gas Leasing Program are now scheduled for the end of March and September of this year. Then there is the (1) scheduled 2023 GOM OCS lease sale, 262 from the 2023-2028 “Proposed” National Oil and Gas Lease Sale Program. This is how we will be able to determine if the administration will comply with the law and uphold it’s duty to the country to ensure the energy supply is secure.
I was not surprised that there was only “one” bid for the December 2022 Cook Inlet (offshore Alaska) lease sale, since the last BOEM Cook Inlet lease sale was back in June of 2017. By the way, the BOEM only has (1) other scheduled Cook Inlet lease sale, 267 on the 2023-2028 “Proposed” National Oil and Gas Lease Sale Program, which is in 2026.
For now, it is a good thing Gulfslope is focused on the purchase of oil and gas production rather than on the purchase of oil and gas leases. Reminder, U.S. crude oil production (million barrels per day) was 11.25 in 2021 and 11.86 in 2022. The EIA forecast U.S. crude oil production (million barrels per day) to be 12.41 and 12.8 in 2023 and 2024, respectively.
So, the trend is with us, and I am holding on to it tightly.
Mrs. Smith
Well looking at the bio of the new Director of the BOEM, I predict that she will fit right in among the other unqualified members of this administration and will also be able to contribute to their incompetence at a high level.
But considering that it is Joe, no surprise that any of the appointments of his appointees would be of any higher caliber than he himself.
Just to refresh our memories, check out this link on the cause and effect of virtue signaling. And so, does this mean the signal is no virtue?
https://www.realclearenergy.org/articles/2023/01/19/the_biden_administration_finally_admits_its_mistake_in_canceling_the_keystone_xl_pipeline_876557.html
Signing off for lunch break.
Mrs. Smith
Well, I miscalculated. There are costs for TWO trades. One for the sale, but also one for the buy. After deducting those costs and the tax, the profit is less than $20…. My entree will cost $28, plus my beverage, and my desert, if I have one (probably not), and the tip. So disappointed. Not worth the effort. Maybe if I can do 200,000….., lol.
Signing off with sadness.
Mrs. Smith
I am thinking of finally trying it out. I am invited to a luncheon on Friday. Tomorrow if I can buy 100,000 shares for 0.0045, I can try to sell for 0.0050 on Wednesday. If successful, my net after tax profit minus my trading fee should pay for my lunch entree ordered off the lunch menu on Friday. I am so excited.
Mrs. Smith
While smelling the smoke, I was thinking the same thing about Gulfslope bidding on a producing GOM property they suspect has some unidentified subsalt potential.
Yes, buy a property that is already producing, do a new seismic survey with those proprietary imaging tools, identify new drilling targets, drill the well(s), and increase production. Maybe by a lot.
I have no information that indicates this is the case, but considering the company’s primary focus and expertise, it does make a lot of sense. I would be very surprised to learn that Gulfslope management had not thought of it.
What an exciting new approach to attracting investment money for future projects as well as for Tau, Corvette, et al, to say nothing of the big bounce in the stock price from the production.
I was also happy about the renewed focus on oil and gas, energy independence, and increasing capex by the new GOP representatives. About time that it is acknowledged there is no realistic path to energy independence through windmills and solar collectors, which cannot be utilized until after the 35th of Nevuary in 2050.
Mrs. Smith
Did you hear that Wyoming is considering the phasing out of sales of electric vehicles by 2035? This is to ensure the stability of the state’s oil and gas industry.
Awesome! How cool is that?
https://www.teslarati.com/wyoming-phase-out-evs-2035/
Mrs. Smith
Yes, I too smell smoke. But it is not the smoke you would smell with Willie or Snoop. The smoke I smell is from the fire that is building under GSPE.
Or, to state it another way, once this company gets rolling, the KEY Element to Wealth will be the number of shares one owns.
Eventually we ‘minnows’ will stop trying to make $0.0005 cents profit per share on a trade and take advantage of this gift of abnormally low prices. Looking forward, one can make the argument that these share purchases below 1 cent are an absolute bargain.
These million GSPE share buys we are seeing tells me there are those out there that are waking up to that idea too, and realize that right now is the best time to buy these shares at rock-bottom prices. ‘Swoosh’ time is definitely approaching, so traders wishing to exit this stock should be getting ready.
And I am suspecting that these shares are being removed from the ‘trading pool’ and will be held on to for the long game to come. This may become a ‘boring’ stock to watch for a time as the share price stabilizes while the company moves forward.
It appears that Gulfslope plans to both buy producing properties and drill new wells. It is a proven fact that many GOM operators will skim the cream off the top of their production, then sell off what is left. It happens on land properties too.
The new company comes in with new ideas, new management, new technology, new drilling plans, lower overhead, and turns everything around, making fortunes in the process. This has happened often in the past. Perhaps history repeats itself here once again with Gulfslope.
A recent example of this is the rumor about Exxon and Denbury Resources. Exxon sold Denbury all their mature East Texas oil assets 25 years ago. At the time, Denbury shares were less than $5. Recently, it was over $100. And now it is rumored that Exxon is interested in buying these properties back once again.
Who can predict how the pendulum swings over time? But it looks like Denbury shareholders should do better than just OK. And GSPE is a much better opportunity, since it is not yet a mature asset, and still has all that growth to undergo.
My 2023 Wealth Plan. Stay the course with GSPE stock and do not be easily influenced to give up my position. Take advantage of these prices offered up by the ‘investing gods’ while they last, and buy even more shares with New Money. Hold on to them. Prosper.
I am a ‘whale watcher’….. And indeed, I am also looking forward to a Happy New Year in 2023.
Mrs. Smith
Fossil fuels will continue to hold the most prominent seat at the energy table.
https://www.forbes.com/sites/roberthart/2023/01/12/outrageous-conflict-of-interest-the-worlds-biggest-climate-summit-just-named-an-oil-exec-to-run-it/?sh=3d1b72445377
While on the subject, the EIA’s latest ‘Monthly Crude Oil and Natural Gas Production’ analysis reflects that the Federal Offshore Gulf of Mexico significantly OUTPACED the national average in crude oil and natural gas production,10% vs 7% (oil) and 13% vs 5% (gas). Many have projected a decade of growth in the oil and gas sector beginning in 2023.
https://www.eia.gov/petroleum/production/#ng-tab
It might also be noted, the Gulf of Mexico (GOM) rig count increased by approximately 19% from the prior week. A great start to the new year.
http://www.dnr.louisiana.gov/assets/TAD/data/drill_weekly/WeeklyRigCountUpdate.pdf
https://www.workboat.com/offshore/louisiana-texas-to-see-increase-in-oil-and-gas-industry-job-opportunities
https://www.naturalgasintel.com/talos-strikes-oil-natural-gas-from-two-discoveries-in-deepwater-gom/
Additional articles of interest.
https://www.api.org/news-policy-and-issues/news/2023/01/12/api-applauds-bipartisan-ferc-approval-of-pipeline-expansion-project
https://www.utilitydive.com/news/ferc-transco-gas-pipeline-new-jersey-bpu-regional-energy/640362/
https://www.naturalgasintel.com/emerging-u-s-pipeline-bottlenecks-cast-shadow-on-otherwise-positive-long-term-outlook-for-natural-gas/
Mrs. Smith
Joe spouts soothing words, but actions show his true intent.
Joe stated he intended to refill the Strategic Petroleum Reserve (SPR) as he depleted it in a political move aimed for the midterm election. Now, it turns out that no oil can be purchased at the price Joe wants to pay. So the SPR has been drained of 266,000,000 barrels of oil and counting, exposing the country to a potentially dire risk.
Way to be consistently “irresponsible”, Joe.
With WTI currently forecast to “average” around $80/bbl in 2023, this administration has stated it has no intention of accepting bids at prices that high, even though prices could go even higher. So the risk to the country continues on unabated and grows with time. And bonus, the salt caverns where the oil was stored are also damaged.
A bit of positive news, the U.S. House in a bipartisan vote (331 to 97) just passed bill ‘H.R. 22’ forbidding future sales of oil from the SPR to China.
Now, if the senate will also pass it and Joe will sign it. Any takers?
https://hotair.com/jazz-shaw/2023/01/09/biden-doe-rejects-bids-to-restock-oil-reserve-n522553
https://www.congress.gov/bill/118th-congress/house-bill/22/text
Mrs. Smith
By the way spec, Louisiana Light Sweet crude (LLS) is still over $80 (lol).
As forecast, integrated oil majors returning to Permian and GOM. Exploration will become a priority in 2023.
https://oilprice.com/Energy/Energy-General/Oil-Majors-Exxon-And-Chevron-Shift-Focus-To-Americas.html
Mrs. Smith
TB7 (aka WL7), you called it! Yes, just a little bit of good news and your recent GSPE share purchases will payoff like a slot machine.
Making a couple of assumptions and doing some math exercises shows that, @ $100/bbl, for every thousand barrels of production per day for an offshore platform, the GSPE stock could rise to as much as 2-1/2 to 3 cents per share.
That is a gross number, without taking out costs and overhead. But still, it is a very healthy return for a cost basis of .0024, .0033, .0055, or even .01.
And while fantasizing, there are three properties under consideration. What if all three make only a thousand barrels per day each? And then the well(s) are drilled. Are we to $2 yet?
So there is the formula for wealth. And do not despair. Even though you did not make $100 for each 100,000 shares traded, by holding your shares while the production plan develops, your net worth is, as you predicted, now ‘unreal’.
And bonus, each time we go through a period of good news, the cycle repeats. The difference is that each time, instead of making $100, we are making $100,000, and perhaps much more as it is cumulative. And more shares equals higher wealth.
That is the moral to the story. And most people miss it, because they do not stick around for the finale. That is the approach used by the whales and the reason why oil is called ‘black gold’. And just because Joe wants everyone to drive EVs is not going to change it.
Yes, we are more likely to get good news than not. And if you happen to get caught ‘out of the stock’ on days the news breaks, there is also a formula to calculate the amount of money you do not make. And buying back in again? Costly.
Follow the money.
Mrs. Smith
Okay. In that case, with your permission, we will fondly refer to you as ‘whale-light7’.
Mrs. Smith
‘Dude’ you are going to be reclassified as a ‘whale’ if you keep that up!
I am not trying to hog the board. Had some spare time, so I am giving spec the morning off if he wants it.
Mrs. Smith
Patience and perseverance.
Did you notice the warnings about driving EVs in the cold? Evidently their range is very negatively affected by the colder temperatures. The batteries also take much longer to charge in the cold weather. Both these issues are a definite nuisance. But the warnings were about finding yourself stranded in a blizzard with no power to run your vehicle heater. A situation to be avoided at all costs.
Not only that, but some renewable projects are being abandoned because, although they look good on paper, ‘in the real world it is not that easy at all’. Investors are sensing that this is just a debacle waiting to happen. And they are pulling out. Look no further than Germany and Switzerland, where the coal-fired plant furnaces are all fired back up to generate the power to survive the winter. Wind and solar? An after thought.
So be patient, the trend is in our favor. Renewables will become a supplement to natural gas. Not the other way around. Countries and states that try to force renewables will go bankrupt. Supplies are tight. Exploration will become a priority.
https://archive.ph/pcjK3#selection-301.278-301.398
https://www.realclearenergy.org/articles/2022/12/23/big_wins_for_parrots_and_whales_as_wind_projects_in_tasmania_and_massachusetts_are_scuttled_871881.html
Mrs. Smith
I had brunch with John over the Holidays, lol.
Do not forget, 10-K this week.
Mrs. Smith
Yes, good point. My thoughts exactly.
If the ‘whales’ are standing pat, then why should we panic? Whatever is going on with these buys and sells at the open are not indicative of any weakness in GSPE beyond the fact that another partner/investor is needed to drill the wells. So ‘old news’ and nothing new here.
In my opinion, the reality is that we are more likely to get good news than not, and the stability of the 1,300 million shares not trading says to me this stock should probably still be up around 2-cents. And all these gyrations may be perceived by the whales as mostly peripheral to the actual value.
Is it possible that market makers are making deals to ‘stock up’ on their inventory at a discount? The shares to be used for resales as the stock price rebounds, or to hold for huge gains if a successful well is drilled. Are these guys the sharks?
I know even less about the workings of those guys than I do about trading, but it occurs to me that for these sells to be happening, buyers are needed. So, the question of ‘who is it that is willing to buy this stock right now’ is still on my mind. And these guys do fit one of the profiles.
But rather than complain, I am content for now to be a minnow swimming in the presence of whales.
Blessed be the whales.
Merry Christmas and Happy New Year.
Mrs. Smith
Thank you for the observations regarding data and knowledge. I must do that to keep up with your example.
Merry Christmas and Happy New Year to you and all the little fish in this school as well.
Mrs. Smith
Someone please lend me a straw!
So I can suck it up. Yes, there are those trying to pick the bones, but prematurely. With determination, the company perseveres. As do I.
At this price level, I will not stress over any sells, or celebrate any buys, of only a few shares, or even 1,000,000. Now 10,000,000 will certainly get my attention. But we have not seen anything like that recently.
And we will not. Not until good news from Gulfslope. It will take partnership news or a drilling deal to bust out buying like that.
Perspective. A recent low trade was barely 1% of the low total volume on that day, with a value of $15. Not really all that unsettling. I think that was the main essence of spec’s message at the time. And I agree.
To me, the question is not so much who is selling or what is their motivation? The questions should be who is it that is willing to buy? And why now? If it is believed the stock is valued correctly, why would anyone buy now? And if the stock is undervalued, who will sell now? Obviously, there is a disconnect here.
But folks have the right to sell and take a loss on purpose. Although I struggle to see the rationale for trading a small limited benefit in income tax reduction for a missed opportunity at a much larger return. I am not sure I buy it.
But what if this is nothing more than a coordinated attempt to influence the price lower for someone’s own advantage and purposes. And that is all it was. Nothing but a transitory moment in the dynamics of a stock’s expected day-to-day fluctuations. Accordingly, there is no ‘yikes’ moment to direct our attention towards. That is the bottom line.
The answer to the question of who is willing to buy right now might be a simple one. Consider that the way to huge returns in this stock involve amassing large numbers of shares. And pushing the share price as low as possible enables buying large volumes for small investment. The only problem is there are not large numbers of shares for sale. But what if shareholders can be convinced to sell?
Not a new strategy. The next step will be to reverse course and support the stock to rise. At some point, the shares will be sold for a healthy gain, but probably not a huge return.
I have no interest in playing penny ante, and it is one’s own trade decision and one’s own pocket to do as one sees fit. Choosing the investing path that is seen as most appealing that can justify the risk for the reward offered?
But, I will need a better stimulus to act. I was once told that there is never money lost, nor made, until after the trade. There is no money to be made on trades these days, and I find no justification to incur any loss either. So, standing pat is still my stance for now, shares in my pocket. Just awaiting the news that changes the stock’s fundamentals moving forward. And then on to the ‘Big Show’.
My DNA seems to lack the requirements to be a trader. I prefer patience and perseverance with a wildcatter’s instinct. But no penny ante here. My stock will be sold, but for dollars.
Merry Christmas and Happy New Year.
Mrs. Smith
That is one way to cinch that belt up tighter, ‘T’. How do those Big Boy Britches fit now?
As for concerns, how big of a concern will it be if enough shareholders get a shake-up from these shares selling lower and they decide to bail too? And then the hits will just keep on rolling. I hope whoever is behind this selling runs out of shares before that occurs. A good bet this will happen.
To help put these new lows into perspective, it occurred to me that for all of 2022, less than 10% of the shares were traded. And those that were sold could have been mostly the same shares being bought and sold and recycled over and over by a small group of active ‘shareholders’ buying from each other, and then selling back to each other again. It looks to me like at least 90% of all shares, probably even more, were never traded in 2022.
So if owners of +90% of the shares are not concerned about these low prices, it is because they are not interested in these hokey gyrations. They are focused on the end game, not the half-time show. Stability reigns. This is my vision anyway.
As long as this perception prevails, like you indicated, the journey continues in spite of prices. Those scrambling around, trying to make a fraction of a penny on a trade, risk missing the opportunity that turns pennies in to dollars, and must take care to not get caught with their heads in the sand. Or elsewhere.
There is no way for us to know a person’s motivation for selling. Despite the share price, I say that the odds of drilling the well are at least better than the odds of the company dying.
There is a good chance that sellers will look back with regret. More on this in a future post.
If one sold a couple of million shares recently, it will be very challenging and more expensive to try and buy them back later. Flexibility is fast fading, and there is nothing that can be done to help you. You did it to yourself.
But if you were a buyer, there is nothing wrong with taking advantage of an opportunity, even if it is participating in the setting of the new price. Just be sure to not complain about low prices. At a minimum, those shares are out of circulation now (if held on to), and not available for future recycle events. Welcome to the 90%!
My advice is to keep that belt cinched up tight.
Mrs. Smith
Does anyone else notice how the administration (DOI/DOE) chooses to interchange ‘renewable’ and ‘green’ when it suits their fancy? Or how the EIA can arbitrarily omit references to WTI from their reports. I suppose they hope we will not miss it and forget it exists in the world of energy. It appears they want to only focus on international prices and production. For what purpose I wonder?
The DOI recently referred to strip mining of minerals as being ‘green’. SINCE WHEN? Just like all other mining practices, there will be no replenishment of these minerals and the environmental impact will live indefinitely in the form of erosion, pollution of groundwater, and damage to the landscape. So it is amusing when they cherry-pick and choose to utilize the word ‘green’ for effect. Is it only camouflage? Or deceit?
For the record, all heavy mining equipment will be powered by diesel for the foreseeable future. And of course the environmental impact of strip mining must be overlooked to pursue this agenda to ‘save the planet’. The hypocrisy is undeniable. The biggest talent of these politicians is keeping a straight face when they speak.
Not such a subtle difference between renewable and green after all. Too bad the administration cannot find time to focus on inflation and energy independence. It makes me wonder what the real agenda could be. What are the options? The Great Upset?
When it comes to domestic wind farms and mining of minerals over the last two years, is it a big surprise how generous the DOI has been to grant the special interest’s wish list?
If we look deep enough I predict we will find a particular set of political donors lined up to benefit from the ‘windfall profits’ bestowed on ‘green projects’ by our government. Is there a 10% in play somewhere?
Creating renewable energy technology, materials, infrastructure, and capital will not come over night. It will take a couple of decades and cost us dearly. This is a known fact.
Yet Joe’s plan is to cut US oil and gas production now, lowering our standard of living by increasing the costs to live. But, it is going to all be okay, we can get it from other places. Like Venezuela. At what cost to the USA in revenue, wealth created, jobs, national security?
Oil and gas is already a proven means of efficient energy, and will be utilized for decades to come. We are already feeling the effects of under investment in the oil and gas sector because, without new investments, there will be higher prices and shortages. That appears to be the plan. But the end game is no longer hidden to those that take a critical look. Check for yourself.
Remember, if these green initiatives were viable in the marketplace, they would not need subsidies or need to have the government artificially raise the price of oil to make renewables competitive.
This reliance on wind and solar without gas or coal will result in us being forced to freeze in the dark. And without electricity to charge that EV, we lack the ability to flee or find food. But if we can kiss enough government ‘fanny’ perhaps they will allow us to survive for a while longer. The Great Reset in action. Be warned.
Mrs. Smith
I read this article on how offshore wind farms might change oceanographic and marine ecosystem conditions.
Not having training or expertise in marine biology, I cannot vouch for the veracity of the article. But it did cause me to wonder if these green projects in the USA are required to do an environmental impact study ‘to the same degree’ oil and gas projects are? Were these effects considered?
It seems to me that any permit to build offshore wind farms in U.S. waters would be in jeopardy until such time as these concerns are addressed.
Double standard?
https://www.workboat.com/wind/wind-turbines-will-affect-base-of-ocean-food-chain-study-predicts
Mrs. Smith
More confirmation that oil and gas will not be denied.
I also believe that politicians can not overcome physics or economics.
Keep your energy investments in oil/gas. That is where all the money will end up.
https://www.realclearenergy.org/articles/2022/12/02/siemens_power_ceo_confirms_the_iron_law_of_power_density_867905.html
Mrs. Smith
The one thing that I have in abundance is opinions. But first, any comment here is not meant to denigrate any other opinion.
To me, the difference is a matter of scale. True, you and others have holdings large enough to drive the stock price lower, even to ‘zero’.
But for how long? Hours? A day? Days?
Once those holdings are exhausted, if there were not enough others frightened in to following with a similar reaction, then the price will rebound. Upwards. And then, it was all for naught. That is the real ‘zero’ in the equation.
It is simply a matter of scale. And our level of scale simply does not matter. At least, not that much.
As was mentioned by spec, there are 1.3B shares in play. I think that is a good number. So to me, that means we (all of us here), are shrimps and minnows swimming in a sea of whales and sharks.
Until those guys break ranks, nothing the rest of us can do will cause very much of a permanent ripple in that sea.
So I say that the time to “fold ‘em” is when the whale gives up his stake. So as you surmised, like it or not, we are all in it to the end from here. But at least the trend is turning.
The whales just really do not care about the stock price at this point. They are not trying to make enough profit to pay for an appetizer with their meal. Not even enough to pay for the whole meal.
No, they want to be able to buy the restaurant and the building it is located in. So they are looking far down the road, not looking at their watch.
It may be wearing us out, but the best strategy could be to sit back and watch it play out. As long as the whale does not see the road ahead as a dead end, the journey continues.
After all, there is no real volume to sell to at these price levels anyway.
I suppose that prices must make a fairly large upward move if there is to be any meaningful increase in trading volumes.
I can only imagine how crazy things might get when any news breaks. Just the thought leaves me giddy.
Once the stock makes it’s move, I hope I can keep up with it, and not be tempted to quickly sell out. Another reason I am destined to never be a trader.
For those feeling the frustration in this situation, just rejoice that you did not already sell your shares, while hoping to buy the shares back at a lower cost basis. Good luck with that plan.
Also remember, this is but another opinion amongst many others. And do not shoot any of the messengers.
Be comfortable with the investment decisions being made. This advice alone is worth the full price being paid.
Finally, the Covid Crisis appears to be waning. And even better, obstructionist government is about to be stalled.
The demand for oil and gas will not be diminished. Therefore, the money will follow that demand. And the game is not ended. Still in early innings.
Mrs. Smith
‘White House Mulls Additional Oil And Fuel Releases This Winter’
https://oilprice.com/Latest-Energy-News/World-News/White-House-Mulls-Additional-Oil-And-Fuel-Releases-This-Winter.html
‘White House asks Congress for $500 million to modernize oil reserve’
https://www.reuters.com/business/energy/white-house-asks-congress-500-mln-modernize-oil-reserve-2022-11-16/
Mrs. Smith
The letter sent to the DOE from the U.S. Senate Committee on Energy and Natural Resources and the House Committee on Energy and Commerce is asking some very important questions.
If you are concerned about the Strategic Petroleum Reserve (SPR), this is very much worth the time needed to read.
Note: The SPR has decreased by 214 million barrels from a year ago.
https://www.energy.senate.gov/services/files/72620615-48FE-43F7-85C5-9B3A11594848
Mrs. Smith
‘OPEC+ switch to virtual meeting on Sunday, December 4th signals policy roll-over ahead of Russian oil price cap’
https://www.reuters.com/business/energy/opec-virtual-meeting-signals-little-likelihood-policy-change-ahead-russian-oil-2022-11-30/