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$4.20 in premarket at 7:08 AM
Chesapeake set to brake out!
http://seekingalpha.com/article/3977407-chesapeake-energy-take-candidate#alt3
CHK rose to over $7.00 just before Barclays blasted the stock saying it was only worth $1... this was total bullshit and a malicious attack simply because Barclays was caught short. The should be sued for damages.
Chesapeake has now cleared all it problems. Bankruptcy is off the table. The future looks bright. But there are still 131,920,000 shorts with their necks on the chopping block.
I see CHK jumping back to $7 per share in a very short time. That's a 75% gain almost overnight.
I'm told shorts taste better when you boil them in their own fat. But I prefer them cook quickly on a natural gas barbecue.
Here Something Strange!
We had about 11 million shorts the last time I check a few day ago. Now the shorts are gone. Maybe they turn long?
http://finance.yahoo.com/q/ks?s=CHK+Key+Statistics
NatGas -3.11% CHK +9.67% Just wait until NatGas runs back above $2.12
Now we are getting a bit of short Squeeze! Hang on to your hat!
We hit the $4.00!
The amazing point is that we are up almost 9% and NatGas is down 2.43%. I just wish volume would move up. We could could get 40 Million or close to it. I also expect volume to pick up just after lunch hour. Maybe about 30 minutes when more buyers come back from lunch.
Chesapeake will get a lot of press from this move if it hold and I think it will. It's not uncommon to see a beaten down stock run up for 2-3 days in a row. We could even break $5 by next Monday.
Tomorrow at 10:30 EIA releases their NatGas report for the week. The way gas is trading down today, makes me feel like negative news is coming. But I really don't why NatGas is so soft. We should be near $2.12 by now. Henry Hub is showing $2.15 in July and $2.23 in August when we should be feeling the heatwave. We should also be getting a few hurricane in the GOM that could disrupt product and spike prices.
The only thing that worries my now is next December and January 2017.
I wrote a VIP at Chesapeake and told him that Barclays would destroy the company if he did not get rid of them. I said you end up taking the blame. The stock started trading normally two days later. I've watched stocks tic by tic for 30 years. With experience you can see when the market market is playing games. I don't see any suspicious moves anymore. I do see buyers running the stock up and backing away to make the seller chase them down. But I do not see false bid and ask prices or anything that looks like games.
I don't know if it is coincidence or if my contact trigger changes. I do know that the VIP was pissed at Barclays. Maybe someone gave them a serious warning or got rid of them all together. But that it happened two days after my contact makes me feel like I did some good. Lets just hope it stays this way.
Might break $4.00 today?
I would sure like to see the volume pick-up. It would signal that the shorts are running scared. I think everything is going Chesapeake way now. Buyers realize that the company in the 2nd largest gas play in the US and is not going to fold its tent. It might take a year, maybe two, but Chesapeake will return to the glory days! I see $30 in 18 months.
heather59, Dallas appears to be high on drugs.
Looks like a lot of weak share holders that bought in recently are afraid CHK will take another dive before the close as it usually does. But I don't think the dips will last for long. Buyers some times step back to keep from running to price up too fast. I hope this is what is happening now.
This is a tough call. I not selling, but selling on the next pop might get you back in at a cheaper price later in day. But then again, if volume picks up, we could see the shorts start to reverse and turn into a short squeez. If I was short, I'd be worried right now.
Looks like we did 9 million in the first hour. I just hope we can keep the volume up.
Natural Gas: The Prefect Storm!
http://seekingalpha.com/article/3975150-natural-gas-perfect-storm-coming
Why have major share holders not been loading up at these low prices? Why has volume been consistently 30% to 50% below normal during this recent crash?
The extremely low volume was a puzzle wrapped inside and enigma. Why were Chesapeake's major investors neither selling nor buying? One would think they would move one way or the other.
I hope I finally figured it out. They already knew and approved the allocation of 500 million extra shares. They knew there would be no bankruptcy to worry about so they did not sell. They ignore the crash.
The manipulators and shorts could have taken the stock down to as low as $2.00. So... the best move was to wait until the extra share allocation was announced and see how the market took it. If it went to $2, volume would shot to the moon and major share holders loaded up dirt cheap stock. Volume was still down 10 million shares.
Some new investors felt it was a negative; others felt is was a positive because it ensured the future of Chesapeake Energy. The share price dropped only 4 cents. No big deal.
So now the real worry is over. No bankruptcy and no credit crunch for at least 3-4 years. This gives Chesapeake all the time and room it needs to return to it former glory!
If I'm right, volume will be above average today and the rest of the week as money pours back into this stock.
I'm glad I'm long!
Tidbits on NatGas
Gas exports to Mexico continue to grow. In fact, exports to Mexico have grown for five consecutive years and ran above seasonal highs last year. Experts are predicted to climb 5% this year.
Gas producers can’t shut down a well and just turn production back on. The activation time to be back up and producing is posted in the report as six to nine months from what the analyst calls the “time zero” capital decision. Hardly like flipping a switch.
The top producing areas, like the Marcellus and Utica shales, are becoming pipeline short. The analysts note that there are limits on pipeline evacuation to the demand centers, which has created what they call severe bottlenecks. The future for new evacuation is murky at best, it appears.
While this is the work and thoughts of a single firm, one thing is for sure. By the time others on Wall Street see the move and make a bullish call, it will be long after the natural gas has left the $2.20 spot price station. Jefferies feels that prices can reach $3.50 to $4.00 by later in 2017. The wild card is also weather--we are heading into the hottest summer on record.
Read more: 8 Real Reasons Natural Gas Could Skyrocket Over the Next Year - 24/7 Wall St. http://247wallst.com/energy-economy/2016/04/28/8-real-reasons-natural-gas-could-skyrocket-over-the-next-year/#ixzz49ZkDCWpV
Follow us: @247wallst on Twitter | 247wallst on Facebook
New deeper Panama Canal Advantage!
After a series of construction setbacks, the Panama Canal expansion is finally expected to come online by mid-2016. The wider, deeper canal locks will enable any LPG ship (up through Very Large Gas Carriers, or VLGCs) on the planet to take the time- and money-saving short-cut, and also will accommodate all but a few of the world’s biggest liquefied natural gas (LNG) vessels. That can only help U.S. liquefied petroleum gas (LPG) and LNG exporters, who for competitive reasons need the low transportation costs to Pacific Basin markets that shipping in super-bulk will provide. Today we discuss how the expansion project may boost exports of hydrocarbons from the U.S. Gulf Coast.
Hawaii has announced plans to scrape the dirty oil fired electric power stations for new modern gas fired units.
Now, a long-delayed effort to build a third set of locks along the canal (to allow much larger ships to pass through) is finally nearing completion. A June 26, 2016, opening is planned. The primary products to be moving west through the waterway from the Caribbean to the Pacific would be U.S.-sourced LPG and LNG. U.S. producers like Chesapeake can count on LPG and LNG exports to keep the domestic market from being flooded with supply surpluses.
There is even a pipeline planned to send US NatGas across Mexico to an LPN terminal on the Pacific.
Walter Energy (WLT) was in the coal business. Chesapeake is in the NatGas business. Coal needs to be phased out! NatGas demand will skyrocket!
CHK & NatGas: The Truth!
A lot of the market looks at Chesapeake as an oil play, but it is really a gas play producing 75% to 80% of their production in NatGas. CHK is the second largest NatGas producer in the US. They have gas hedged at $2.71 and oil at $47.36 so I would say they are fairly well positioned to have a great year compared to last. The weather is also in their favor since NASA predicts 2016 to be the hottest summer on record. It will be so hot in June July, August, and September that you will be able fry taco shells on your sidewalk.
Natural gas spending is down 50% in 2016, and that is after an additional decline of around 30% in 2015. That's 80% down since 2014!
The natural gas rig count is at the lowest level on record. Only 88 rigs are currently in operation. That is down a stunning 95% from the all-time highs in 2008.
Gas exports to Mexico continue to grow. In fact, exports to Mexico have grown for five consecutive years and ran above seasonal highs last year. 2016 is predicted to climb by 5% due to the heatwave coming the much of Mexico, the US and the rest of the world.
LNG will also skyrocket!
Forget all the negativity. Global warming is real and it's due to increasing CO2 emission! Given that gas has CO2 emissions 40-50% lower than coal and 25-35% lower than petroleum, releases far fewer greenhouse gases and local pollutants, and is the essential backup for wind and solar power, a cooler climate simply cannot come to pass unless we burn more gas. Lots more gas.
Do you own research. Don't listen to idiots. The world is on the verge of major structural increases in natural gas demand. Gas is the world’s fastest growing major fuel, and the big importers will require more imports. As a nation, we have an obligation to support our companies looking to export natural gas, because it helps to reduce global CO2 emissions, supplies modern energy to an overwhelmingly still poor and energy-starved world.
These are important and diverse concepts in our swiftly connecting planet where energy markets are increasingly based upon a complex combination of politics, economics, and security. Too many of the analysts and policymakers leading our energy/environment discussion have so pigeonholed and short-sighted their focus that they only see trees, not forests.
Solar and wind are the real future, Natural gas is the transition fuel! Demand must skyrocket or we will all know what hell feels like! There is no choice. Wood, coal, and crude must be all be phased out as quickly as humanly possible.
NatGas is the only fuel that can save this planet! There is no time to think it over or make a second choice.
Chesapeake, regardless of its current struggle, is a damned steal at these prices! NatGas is the future. CHK is the second largest NatGas producer in the US! It is prime for takeover by GE Oil and Gas and several other majors with deep pockets.
If you don't buy and hold this stock, you are a damned fool!
heather59, the bad news is already priced in and then some. CHK is oversold by all standards. Some weak shares are running but not too many. We know this is true because volume yesterday was down 10 million shares below 30 day average. Volume means everything to a falling share price. High volume confirms share holder dissatisfaction. Low volume shows just the opposite. Major share holders are holding onto the shares. Most own millions of shares each. They are not crazy. They are inform smart investors.
On top of this, CHK is a day-traders dream stock--they trade it on the price of oil. not gas. This is weird, but this is what is happening. Take the day-trade volume out of yesterday's total and I doubt that were any more than 10 million shares traded by normal investors. So the stock went down anyway. But most serious longs don't give a rat's ass what happens day to day. They are waiting for hot hot hot summer that will become obvious starting in June. link
And don't forget the humidity and the increase in hurricanes hitting the GOM. These are plus factors for NatGas.
For some reason, many on this board ignore volume and bitch about everything else as you are now doing. They also ignore that Chesapeake is the second largest gas producer in the US behind XOM. They can ramp up production in their Marcellus play to 2.8 BILLION CUBIC FEET PER DAY. Their oil is hedged at $47.36 and NatGas is hedged at $2.71.
Management may start producing all out at any time. I believe this is the signal the major share holders are waiting on. They've done the numbers a hundred times. If their calculations were scary, they would be running out as fast as they could and volume would be 100 million per day.
Chesapeake's gross sales can reach the moon and all their problems can be cured within 2-3 months of high productions. Confidence will be restored and CHK will triple. That's why the longs are holding and not selling as evidenced by the low volume.
U.S. gas demand,averaged 64 Bcf/d from April through October of 2015, 2.3 Bcf/d higher than the previous record, set in 2012. This was due to a combination of hotter-than-normal weather and resultant higher gas utilization. 2016 will break 2015's record. EIA's forecast U.S. total natural gas consumption at 76.5 Bcf per day, which is 12.5 Bcf per day higher than 2015.
Here's the bad news for shorts: An exhaustive, county-by-county analysis of the 12 major shale plays in the U.S. (accounting for 89% of current tight oil and 88% of current shale gas production) concludes that both oil and natural gas production will peak this decade and decline to a small fraction of current production by 2040.
Shale plays suffer from high decline rates and declining well quality as the “sweet spots” run out, meaning that ever more wells will have to be drilled just to keep production flat—until even that is no longer achievable. Continued drilling requires massive amounts of capital, which can only be supported by high levels of debt or higher prices.
Rig counts are at 40 year lows. DUC numbers will not be able to carry production higher. Banks are not giving money to producers. Rigs are in poor repair. The drillers could not respond fast enough to meet demand as when you consider falling productions.
Carl Icahn owns 72 million shares. He got rid of McClendon and brought in Lawyer and obviously approves everything he does. Is Mr. Icahn dumping CHK? No! Does he have the moxie to turn CHK around? Yes.
I'm long for one other reason. CHK hit $7 and then Barclay's, the biggest crook on Wall Street, came out and said it was only worth $1. The stock started a downward slid. Volume never exceeded average all during this drop. In fact, many days volume was off as much as 50%! Volume confirms price moves. It is obvious that the major investors decided not to sell. They didn't buy on the dip either. Why? They see something they like in Chesapeake that has not yet materialized. I think what everyone is waiting on is the passing of the gas shoulder season and the appearance of a the hot humid summer, forecast by all the weather experts. IMO, when gas hits $2.25 I think you will see a lot of major players double down. The confirmation will be volume in excess of 70 to 80 million shares and a 20% rise in price.
Bottom line: Chesapeake in strictly a gas play. If we get a humid record-breaking summer, CHK will triple from here. If we get a cold winter, CHK will quadruple.
Chesapeake is a bet on the weather! Forget all the other nonsense!
Average volume is about 7 million share per hour. We've traded 11,500,000 in 3 hours... almost 10 million below normal.
No one seems too excited about selling or buying. I think I;ll go take a nap by the pool. Too boring watching CHK move sideways.
I predict a close at $3.85 up 13 cents.
Just to say it one more time. The shareholders voted to authorize many more shares if needed to protect the company from Bankruptcy. All this means is that we now have a legit way to avoid bankruptcy. It does not mean that CHK will sell any of these shares unless they have too. Nor does it prevent them from announcing a share buyback if business picks up.
We are headed into the hottest summer ever. NatGas Prices should hold strong all year. CHK will make a lot of money! All you need to do is be patient!
7 million shares in the first hour is nothing; we will not even reach average volume. Buyers will step in soon. This news should have been release at the close on Friday. Investors need to time to understand that what has happened is only an insurance against Bankruptcy. It will even increase their credit rating and raise analyst opinions.
NO CHANCE OF BANKRUPTCY NOW.
The article is doublespeak and makes no sense whatsoever.
First, just because CHK is now able to issue a lot more shares does not mean that the shares will be issued. This is like an emergency parachute and creates the means in which the company can swap shares for debt.
They will not run out tomorrow and swap the shares for debt if the dept is not due. This is an umbrella -- a guarantee that the company is not going bankrupt.
Those that don't understand are dumping out to the shorts that do understand.
The real buyers are setting back waiting to see when the selling pressure ends, and then they will start accumulating shares.
If this was a strong sell off, volume would be over 20 million shares by now.
The market needs to digest what has just happen and realize that this move guarantees no bankruptcy --- shares are not being sold. We are not being diluted.
Even if they do sell a few millions shares to settle dept, there is nothing stopping them for buying back the shares when the crisis has passed.
Here's another point: The is no immediate need to trades shares for dept so why not wait until the share value increases and then trade shares.
This move also guarantees that creditors will get paid. For example, Williams pipeline does not need to worry anymore about the liquidity of Chesapeake.
This agreement to issue more stock is like grease to their money making machine.
Investors will figure it out soon.
I' agree. It seems like the average premarket investors does not know that CHK is a gas play, not crude. Nor do the understand the meaning of issuing additional shares to swap for debt.
Bankruptcy is off the table now. CHK will survive. If we get the hot summer weather experts are calling for, NatGas will soar.
I think investors are missing the main point of this stock.
Chesapeake Energy Corp. CEO Doug Lawler on Friday detailed the company's ongoing efforts to cut costs and reduce debt and discussed his frustration with at least one analyst opinion of the company.
Following the formal portion of Chesapeake's annual meeting, Lawler answered questions from shareholders, including one seeking his opinion on a recent Barclays report that set a stock price target of $1 for Chesapeake shares.
"I think that's total garbage," Lawler said. "The analysts have a unique perspective that their entire windshield is filled by the rearview mirror."
"Those reports take so much information from the past and a lot of inaccurate information and take it to promote trading, whether it be a long or short position."
http://newsok.com/article/5499468
no such thing as information overload in investing.
My first book was published by Simon and Schuster in 1987. My second book will be out is less than a year.
Expect Big Rally!
Chesapeake Energy files 8-K; amends the Restated Certificate of Incorporation to increase authorized common stock by 500,000,000.
http://seekingalpha.com/article/3976958-good-news-chesapeake?app=1&auth_param=1191vj:1bk5b2h:69bbbf015cc06c59ca15bd12a9362ee6&uprof=44&dr=1#alt2
This explain why the major investors held and did not join the selling. This will catch the short by their arse. I think $6.00 is not out of the question since this moves the chance of bankruptcy into the trash can.
HELL WILL ARRIVE SOON!
These record- and near record-setting conditions are part of the larger pattern across the globe, with Earth on pace to set yet another record for warmest year. The year is well ahead of 2015 so far, which only just took the record for hottest year from 2014. While a major El Niño has provided a small boost to global temperatures, the main contributor is human-caused global warming, scientists have said.
The overall mild conditions for the U.S. this spring follow a record warm winter and autumn, with much of that warmth centered out West.
For January through April, the average temperature for the contiguous U.S. was 4°F (2.2°C) above the 20th century average, the second highest departure in records going back 135 years. LINK
GLOBAL HEATWAVE -- HELL IS ON THE WAY!
LINK
One of OPEC's very own countries is on the brink of collapse. Over the next several months, we see the situation in Nigeria worsening as oil production will likely remain offline, and Nigerians revolting over the petroleum price hike. Nigeria has both an external threat and an internal threat to deal with. link
The Saudis are in trouble too! How will they fend off social unrest, a declining foreign reserve, and transition the country all at the same time? Unless Saudi begins to aggressively borrow money from abroad, the math simply doesn't work.
Oil revenue still eclipses all other revenue sources. Saudi does not charge a tax on its citizens, and it recently abolished petroleum subsidies which led to protests and riots. Saudi's 2030 plan encompasses taxes being imposed, and this could lead to a major civil unrest. In addition, Saudi plans on attracting foreign investments, while it contemplates on paying its contractors with IOUs.
Not to mention, oil being at $50 is draining down Saudi's foreign reserve. link
Are you long or short oil? The largest cumulative change in positions over the last month by far was that of the Short - Spec traders. They reduced their short positions (buying) by about 127,000 contracts, which is equivalent 127 million barrels. There is little chance Nigeria will solve their civil war. [url][/url][tag]insert-text-here[/tag]
Here's another point: Maybe Canada can get it oil sands back in production is 3 weeks. But in that time, a major disruption could pop up anywhere else in the world.
Think about this.....
The Saudis and OPEC think they own a percentage of the US Market. They ran prices down to $26 with the expressed desire to cause our oil producers to go bankrupt. They cost us millions of jobs simply because they can produce oil at $15 per barrel.
Is this fair?
China has taken over steel and aluminum production because they do not have wage and pollution laws like we do. They are dumping their cheap junk on the US Market so they can put our metals industry, computers, cars, and everything else out of business. We can't compete because we have a cleaner environment and higher wages.
Is it fair for them to cause us to struggle and bring our standard of living down to theirs?
The only solution is an import tax against on all imported oil from OPEC and all goods from countries that do not pay our wages or enforce our pollution laws. The import tax would be set at an amount that levels the playing field without destroying our standard of living.
We are $19 Trillion is debt trying to compete on an out of balance playing field. They say we are the greatest nation in the world. Truth be told we owe more money than anyone and could go belly up if things don't change.
Our politicians have given away our country with the idea that if we make everyone else rich, we will have a better life. It ain't working.
Screw OPEC! Screw China! Stop killing our standard of living!
Bring the import tax back like it was 30 years ago.
Remember the Boston Tea Party... Bring american jobs back to America.
Please vote for Donald Trump.
US natural gas consumption
In its natural gas weekly update, the EIA reported that total natural consumption increased by 2% for the week ending May 18, 2016—compared to the previous week. In its monthly Short-Term Energy Outlook report, the EIA estimated that US natural gas consumption could average 76.5 Bcf per day and 77.4 Bcf per day in 2016 and 2017, respectively. The industrial sector and residential segments will drive demand in 2017. New projects coming online in the fertilizer and chemical sectors could also drive demand.
Chesapeake Energy: Prime Takeout Candidate
"I believe that Chesapeake is now a prime takeout candidate and could be swallowed up on the cheap by a player with deep pockets."
http://seekingalpha.com/article/3916446-chesapeake-energy-prime-takeout-candidate
http://www.chk.com/media/news/press-releases/Chesapeake+Energy+Corporation+Announces+Final+Tender+Results+12+31+2015+
I suspect this might be the real reason why the major share holders are not selling out! A buyer will offer at least $10 or maybe even $15
CHK Shares Short as of Apr 29, 2016 was 111.79 million.
CHK shares Short a month ago was 131.92M Million
http://shortsqueeze.com/shortinterest/stock/CHK.htm
https://ycharts.com/companies/CHK/short_interest
Shorts have dropped by 21 millions in 30 days. With the recent attack by Barclays saying the stock was going to $1, it seems strange that the short side should drop 21 million shares. One would think the short side would increase by 21 million shares if there was any merit to what Barclays declared.
Lets go back to when CHK was $1.50 and predicted to go Bankrupt. How many shorts jump on CHK expecting it to drop to 10 cents a share?
Did the shorts get caught with their pants down? Is this the reason Barclays slammed the stock? Was Barclays a big short? Is Barclays trying to drive the stock as low as it can to clear its short?
Barclays could lose its arse if it is not careful. They are going short to pound the share price down, and then clearing the short on the rise. They they repeat the next day.
The majors are not selling! Will they let Barclays destroy Chesapeake Energy without jumping in to rescue the share price from the manipulators? I think something is about to happen and the shorts are gonna get fried.
I think Chesapeake should use a $billion of its credit line and announce a buyback of shares. That would put Barclays in a real squeeze. As far as that goes, any bid to buy out Chesapeake would send the stock to the moon.
I think I ride this puppy a little longer.
Don't listen to my Swami friend; he works for Barclays.
Einhorn goes long natural gas
Greenlight Capital's just-released Q1 letter to investors, Einhorn revealed that he's placed a macro bet on seeing natural gas prices increase. That Einhorn was somewhat bullish on natural gas wasn't new information for us. He previously discussed his bullish view on natural gas in connection with his underperforming position in shares of Consol Energy (NYSE:CNX).
But now we've learned that Einhorn has made an investment directly tied to natural gas prices. As you probably know, there's a futures market for oil and gas prices, where you can trade the commodities. Einhorn purchased the 2017 and 2018 natural gas calendar strip prices at average prices of $2.71 and $2.84 per million BTUs, respectively. If natural gas prices are above those levels, Einhorn is going to make money on this trade.
In his investor letter, Einhorn explained why he took this macro position. His belief rests on the following points:
Natural gas prices aren't high enough to justify drilling, except in the very best locations.
The industry has responded by dramatically reducing drilling activity.
As existing wells deplete, supplies should fall. The high cost of liquefying and transporting natural gas limits competition to North American sources. Excess inventory is only a couple percent in terms of annual production, which has already begun to decline.
Einhorn believes that normal weather combined with the lower production that he expects will lead to a natural gas shortage within a year
Einhorn is an idiot... I would short NatGas and Chesapeake Energy--they will both tank because this will be the coldest summer on record especially in Mexico where imports will fall to all time low. LNG will also crash.
So says Swami, the best stock picker in the world.
SELL CHK BEFORE THE BANKRUPTCY NEWS HITS. THE STOCK IS GOING TO $0.50 CENTS BY WEEKS END.
2016 Already Shows Record Global Temperatures
Apr 19, 2016 - 2016 Already Shows Record Global Temperatures. This year is off to a record-breaking start for global temperatures. It has been the hottest year to date, with January, February and March each passing marks set in 2015, according to new data from the National Oceanic and Atmospheric Administration.
http://edition.cnn.com/2016/05/16/world/climate-change-april-hottest-month/
2016 Is Going To Be The Hottest Year Ever After Record-Setting. Last month was the hottest March in 137 years, putting 2016 on track to be the hottest year on record,
http://fortune.com/2016/04/20/2016-hottest-year-climate-change/
The bad news on the world’s record-setting temperatures just keeps on rising, and climate scientists have ominous predictions for this year.
Last month was the hottest March in 137 years of tracking, according to the National Oceanic and Atmospheric Administration, making it 11 straight months that the Earth hit record highs in average temperature.
Even more alarming has been the world’s average temperature for the first three months of this year, as it hit around 2.07 degrees Fahrenheit above the 20th-century average, said the NOAA. This marked the highest temperature ever recorded for that time window, beating last year’s temperature average by 0.50 degrees Fahrenheit. Link
Whatever you do, sell all your shares of Chesapeake Energy Monday morning because NatGas price will tank. The motors that power the drilling and compression pumps will overheat and freeze up. Chesapeake will not be able to delivery any NatGas. On top of this, oil field workers will walk off the job or suffer heat stroke and die.
Hell is coming to the oil patch. Sell out and buy ice cream makers! You'll make a fortune.
Swami, stock adviser to kings and the world's riches people!
Hell will arrive soon. Get your air conditioning unit serviced before the mad rush. Don't let your pets play outside--they might have a heat stroke.
Call 911 if you have the following symptoms:
Body temperature above 103° F
Rapid pulse
Reduced sweating
Disorientation
Unconsciousness
Seizures
Warm, red, dry skin
Kept your air condition running day and night.
Make sure your electric provider has plenty of NatGas on hand to meet electric demand.
Sell all your Chesapeake stock and buy a giant ice maker. You should also have a walk-in freezer installed just for safety. But don't sleep in the freezer unless you have a warm sleeping bag.
Worry about your life.... forget CHK stocks. CHK is going bankrupt right in the middle of the heat wave because all their gas wells will run out of NatGas.
I see the stock dropping to $0.50 by the end of next week. Crude is going back to $26 barrel because the Saudis will raise production to 25 million barrels day.
And keep a loaded gun just in case your friends want to break into your freezer and steal your cold air.
Another stock tip from the Swami, a con man working for an unnamed market maker.
And don't forget, Barclay's Bank called this stock for $1 by the end of next week.
SELL SELL SELL.
BEIRUT — Eight months after launching a war in Yemen, Saudi Arabia appears trapped in a protracted and devastating conflict that is straining relations with its allies, intensifying internal power struggles and emboldening its regional rival, Iran, analysts say.
Since March, the key U.S. ally has led a coalition of mostly Gulf Arab countries and Yemeni fighters in a military campaign to drive out Iranian-aligned rebels who seized the capital, Sanaa, and swaths of the Arabian Peninsula country.
But the coalition appears increasingly hobbled by divisions and unable to find a face-saving way to end the costly conflict.
The rebels, known as Houthis, still control much of Yemen’s north. And in southern areas where the coalition has driven them out, lawlessness has spread as attacks linked to an Islamic State affiliate wreak havoc.
“This war is draining the Saudis militarily, politically, strategically,” said Farea al-Muslimi, a Yemen analyst at the Beirut-based Carnegie Middle East Center. “The problem is, they’re stuck there.”
https://www.washingtonpost.com/world/middle_east/saudi-arabia-cant-find-its-way-out-of-yemens-messy-war/2015/11/12/4d70ce26-84e1-11e5-8bd2-680fff868306_story.html?tid=a_inl
RIYADH, Saudi Arabia — Stung by falling oil prices, Saudi Arabia has cut spending and subsidies as part of harsh austerity measures that threaten the lavish welfare programs underpinning its stability.
The oil-exporting giant’s economy has gone from producing windfalls to deficits, and Saudi rulers increasingly struggle to provide the cushy government jobs, expensive state handouts and tax-free living that have long bought them domestic obedience.
The pivot to austerity — which also has been imposed by neighboring Gulf Arab oil monarchies — risks triggering unrest in a Saudi society that is conservative and particularly resistant to change, analysts and diplomats warn.
The cutbacks are seen as necessary by King Salman’s son, defense minister and head of economic planning, Mohammed bin Salman. The 30-year-old prince has raised eyebrows for overseeing leadership shake-ups at home and two wars abroad. Advisers say he also intends to wean the country off its overwhelming dependence on oil sales and reform a bloated and opaque public sector.
Oil prices have plunged by about 70 percent over the last year and a half. (Waseem Obaidi/Bloomberg)
“He understands that now is the moment to capitalize on low oil prices by cutting wasteful subsidies and reforming our economy to make us stronger,” said Fahad Bin Jumah, a Saudi economist and member of the country’s Consultative Assembly who has advised Prince Mohammed.
Oil prices have plunged by about 70 percent over the last year and a half, even falling below $30 a barrel this month, battering the world’s second-largest producer and jarring a society that has grown accustomed to easy money and extravagant consumerism. Oil revenue accounts for an estimated 90 percent of the Saudi government’s income, leading to last year’s large budget deficit of $98 billion, or about 15 percent of gross domestic product.
https://www.washingtonpost.com/world/middle_east/saudi-arabia-is-reeling-from-falling-oil-prices-and-it-could-get-much-worse/2016/02/25/0dee71a6-d1e2-11e5-90d3-34c2c42653ac_story.html?tid=a_inl
Saudi Arabia’s future looks fraught.
BEIRUT — Persistently low oil prices appear to be taking a heavy toll on Saudi Arabia, spurring rare labor unrest as the kingdom’s rulers pursue radical changes to stabilize the economy.
Companies in the oil-exporting country have been forced to shed tens of thousands of employees in recent months. The government, in turn, has imposed painful austerity measures on citizens, ripening conditions for Arab Spring-like turbulence, analysts say.
Late last month, construction workers torched buses during demonstrations in the holy city of Mecca because they had not been paid in months.
Adding to unease has been the meteoric rise of King Salman’s 30-year-old son, Mohammed bin Salman. He has taken charge of economic reform, but rival royals and religious elites appear rankled by his attempts to consolidate power.
“The conditions that produced the Arab Spring five years ago haven’t gone away, and they seem to be even more of a concern in Saudi now,” said Bruce Riedel, a former foreign policy adviser to President Obama and a senior analyst at the Brookings Institution. Saudi Arabia — with its generous oil-financed welfare system — managed to avoid significant unrest while the 2011 uprisings took hold in Egypt, Libya and Syria.
A crew works at the construction site of the King Abdullah Financial District in Riyadh, Saudi Arabia, on May 12. (Faisal Al Nasser/Reuters)
Good times, bad times
Saudi Arabia, a U.S. ally and the world’s biggest oil exporter, is still a wealthy country and has bounced back from times of low oil prices before. But even as crude has risen recently to nearly $50 a barrel from around $30 earlier this year, analysts do not foresee a return anywhere close to the sky-high prices of two years ago.
Rising international energy competition is partly to blame for the price collapse. So, too, is the Saudi policy of trying to bankrupt competitors in other countries by keeping oil production relatively high.
Still, Saudi officials appear to recognize the pressing need to reduce the country’s overwhelming reliance on oil sales, which account for an estimated 80 percent or more of government revenue. Last month, Prince Mohammed, the deputy crown prince and defense minister, announced a major economic restructuring dubbed Vision 2030. The plan intends to bring transparency to opaque government institutions and substantially boost income from non-oil-related industries.
The plan includes the partial privatization of the state oil company, Saudi Aramco, and envisions extensive job creation. Unemployment has become especially problematic for Saudis younger than 30, the majority of the kingdom’s 22 million citizens.
Economic growth has tapered off recently and budget deficits have grown, spurring the International Monetary Fund to warn last year that Saudi Arabia could run out of cash if it failed to make reforms.
Authorities have responded to the crisis by cutting subsidies for water, fuel and electricity, but financial experts say more is needed — possibly taxation, a hot-button issue for Saudis.
Some Saudis may be ready to accept the changes.
“They have to be gradual and accepted, but people understand that they are needed,” said Abdulaziz Sager, chairman of the Gulf Research Center, who lives in the coastal city of Jiddah.
But many doubt whether the necessary changes can be introduced fast enough in such a conservative society that is run by an absolute monarchy with little apparent desire for political reform.
A costly war in Yemen
Simon Henderson, an expert on Saudi Arabia at the Washington Institute for Near East Policy, said the powerful religious establishment has not responded to the Prince Mohammed plan, which suggests they disapprove of it.
“There’s nothing in the recent changes that would be a cause for joy among the religious establishment,” Henderson said.
Prince Mohammed, who also serves as the country’s defense chief, has unsettled many Saudis, including royals, by launching an expensive war in Yemen and aggressively confronting rival Iran throughout the region.
This month, King Salman reshuffled the government in yet another move interpreted as further paving the way for his son to eventually ascend the throne.
A more immediate issue appears to be an economy no longer flush with as much cash. This appears to be what led to demonstrations last month by employees of the Binladin Group who had been laid off without receiving pay. Video images of the protests show buses burning as sirens blare in the background.
The company, a construction giant run by Osama bin Laden’s brother, has let go of tens of thousands of mostly non-Saudi workers in recent months. The company has amassed an estimated $30 billion in debt, in part because the government, a major client, has not settled bills.
Saudi authorities had banned the company from bidding on new contracts after an accident last year at one of its construction sites in Mecca that killed 111 people.
But the primary issue facing the Binladin Group and other companies appears to be a lack of business and getting the government to pay up for work rendered, said Christopher Davidson, an expert on Persian Gulf countries at Durham University in Britain.
“This is a bigger issue that goes beyond the crane incident, because it’s not in Saudis’ interest to let its biggest construction company fail,” he said.
So far, most of those laid off have been foreigners, who form a large chunk of the labor force. But Davidson said he expects that companies will start letting large numbers of Saudi employees go, which would increase the chances for unrest.
“It’s the older generation — the retired Saudis who used to run things — who have questions about the pace of all this.”
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