One other reason the stock probably fell is that the company studiously avoided saying anything about global oil prices or a global recession. Oil futures were down almost US$6 in New York trading to close at $69.85. That’s the first time oil’s closed below US$70 since August 23rd of 2007. Is Woodside a Crusoe stock? Well, it depends on what your long-term view of energy is, doesn’t it?…
October 17th, 2008 | Dan Denning | 0 comments | ContinuedAll Posts Tagged With: "oil production"
Where Will Future Oil Production Come From and How Can Investors Profit Today?
If you can say with assurance why oil prices are US$127, you are more assured than most. OPEC believes oil strength is really just U.S. dollar weakness. A stronger dollar means lower oil prices, and probably lower commodity prices in general. There are other theories that seek to explain the high oil price, including a “fear premium,” oil as an inflation hedge, and pure speculation by professional traders.
May 22nd, 2008 | Dan Denning | 0 comments | Continued
Oil Prices Has The Mogambo Guru Sticking His Thumb in His Eye
Just when I thought I had completely lost my sense of humor, I ran across a MoneyNews.com article titled “Lehman Bros. Report: Oil Bust in the Cards”. Hahahaha! Thanks, Lehman!! Hahaha! I needed the laugh! Perhaps part of the humor is that this comes at the same time as the price of gasoline went up 3 cents to another record high of an average of $3.70 a gallon.
May 20th, 2008 | Mogambo Guru | 1 comment | Continued
Oil Has Hit a New Record High
Oil hit a new record yesterday. At $114 it has never been more expensive. This is another way of saying that Americans and Englishmen have to work longer to buy a gallon…
April 17th, 2008 | Bill Bonner | 0 comments | Continued