Posts Tagged ‘Matt Simmons’

Matt Simmons Says Gulf Clean Up Will Cost Over $1 Trillion

Matt Simmons Says Gulf Clean Up Will Cost Over $1 Trillion, Sees BP At $1, Says "We Have Now Killed The GoM"

Courtesy of Tyler Durden

Matt Simmons shares some startling revelations in his latest Bloomberg TV interview, in which he says none of the propaganda matters on TV 24/7 (photoshopped or not) as the ultimate clean up cost will likely be well over $1 trillion, and a result he is unconcerned about his BP short. He ultimately see the stock going down to $1. What Simmons alleges however is far more startling and audacious: that this is a joint cover up effort between the administration and BP, in which both entities keep throwing sand in the eyes of observers while distracting everyone from the matter at hand: "What we don’t know anything about is the open hole which is caused by the drill bit when it tossed the blow-out preventer way out of the hole…and 120,000/day minimum of toxic poison has now covered the floor of the Gulf of Mexico. So what they’re talking about is the biggest environmental cover-up ever. And they knew that that well, that riser, would finally deplete. And then they could say it’s over."

On blaming the catastrophe on Transocean: "For two days they kept saying it’s a rig fire. When the rig sank they could no longer call it a rig fire. It’s a riser leakBecause if they said the truth they would all go to jail." The conclusion: "Unfortunately, we now have killed the Gulf of Mexico."

On whether the well pressure should be a concern:

“No, it’s a total diversion – that’s the gas condensation that was trapped in the drilling riser which blew off the wellhead at 10:01 PM CT on April 20th, it’s a mile-long compressed natural gas."

"What we don’t know anything about is the open hole which is caused by the drill bit when it tossed the blow-out preventer way out of the hole…and 120,000 minimum of toxic poison has now covered the floor of the Gulf of Mexico. So what they’re talking about is the biggest environmental cover-up ever. And they knew that that well, that riser, would finally deplete. And then they could say it’s over. And unfortunately, we now have killed the Gulf of Mexico.”

“Some 5-10 miles away is what the NOIA research vessels have now proved is a deep…
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What If He’s Right?

What If He’s Right?

Courtesy of James Howard Kunstler 

       Just when America was celebrating the provisional end of BP’s Macondo oil blowout, and getting back to important issues like Kim Kardashian’s body-suit collection, along comes Matthew Simmons with a rather strange and alarming outcry on doings in the Gulf of Mexico that contradicts the mood of renewed festivity, as well as just about every shred of reportage from any media outlet, mainstream or otherwise.

     Matt Simmons Houston-based company has been the leading investment bank to the US oil industry for a long time, financing exploration and drilling in places like the Gulf of Mexico. Simmons, 68, recently retired from day-to-day management of the company. For much of the decade he has been what may be described as a peak oil activist. His 2005 book, Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, warned the public that Saudi Arabia’s oil production had reached its limits and, more generally, that an oil-dependent world was entering a zone of serious trouble over its primary resource. He took this aggressive stance despite risking the ire of the people he did business with. 

        Matt Simmons is a sober individual and a very nice man (I’ve met him twice over the years), a button-downed corporate executive who’s been around the oil business for forty years. His knowledge is deep and comprehensive.  From the beginning of the BP Macondo blowout incident in April, he’s taken the far out position that the well-bore is fatally compromised and that BP has been consistently lying about their operations to stop the flow of oil. Perhaps most radically, Simmons claims that an oil "gusher" is pouring into the Gulf some distance from the drilling site itself.

       Last week, Simmons came on Dylan Ratigan’s MSNBC financial show, but he did a longer interview over at the King World News website. (click here for ERIC KING’S INTERVIEW WITH SIMMONS). Simmons’s current warning about the situation focuses on the gigantic "lake" of crude oil that is pooling under great pressure 4000 to 5000 feet down in the "basement" of the Gulf’s waters.  More particularly, he is concerned that a tropical storm will bring this oil up – as tropical storms and hurricanes usually do with deeper cold water – and with it clouds of methane gas that…
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Phil's Favorites

Today's Quiz: Donald Trump, Bernie Sanders, Hillary Clinton - Who Said It?

Courtesy of Mish.

It’s quiz time.

I will list a statement. You decide who said it.

The correct answer is either Bernie Sanders, Donald Trump, or Hillary Clinton.

34 Statements – Who Made Them?

  1. I do not believe in unfettered free trade. I believe in fair trade which works for the middle class and working families.
  2. I will take on corporations that take their jobs to China.
  3. I think NAFTA has been a disaster.
  4. Instead of passing such trade deals again and again, we must develop trade policies which demand that American corporations create jobs here, and not abroad.
  5. TPP is a death blow for American manufacturing.
  6. I’m for free and fair trade.
  7. We need to bring manufactu...


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Zero Hedge

Is A New Banking Crisis Imminent? Recent Rise In Delinquency Rates Is Shocking

Courtesy of ZeroHedge. View original post here.

Submitted by Olav Dirkmaat via UFM Market Trends,

The delinquency rate on loans is key in understanding banking. It answers one question: what percentage of loans is overdue for payment? The delinquency rate is by far the most useful indicator for “credit stress.” It seems, however, as if delinquency no longer counts. Few are paying attention to the quick and sudden rise of the delinquency rate. What does...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Get Ready to See This Globalization 'Elephant Chart' Over and Over Again (Bloomberg)

Globalization was the driving force behind the growth miracle in emerging markets, lifting millions of people out of poverty over the past few decades.

America’s shrinking middle class is killing the economy (Business Insider)

The middle-income class is hollowing out and it's hurting US economic growth. ...



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Chart School

Market Recap Jun 28, 2016

Courtesy of Blain.

Indexes gapped up sharply at the open, and stayed firmly in the green all day with a round of buying into the close.  The S&P 500 gained 1.78% and the NASDAQ 2.12%.  In case you haven’t noticed, it’s been pretty volatile out there the past week.   But all in all after all the hysteria, U.S. markets finished down about 2% from where they were a week ago – not quite the “zombie underworld” we were warned about if Brexit came to pass.

“I think it was just a market that got a little ahead of itself to the downside,” said Robert Pavlik, chief market strategist at Boston Private Wealth.  “A little bit of ‘cooler heads are prevailing’ and seeing this as an opportunity to get in. How long it lasts is going to be the big question...



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Kimble Charting Solutions

London closer to breakout, than breakdown- Really???

Courtesy of Chris Kimble.

While the media is focused on the noise around Brexit, yesterday the Power of the Pattern shared that Germany (DAX) and London (FTSE) remained above 6-year rising support. See post HERE.

Below takes a closer look at the FTSE index in London, the so called center of the news noise.

CLICK ON CHART TO ENLARGE

...

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ValueWalk

Bill Gross on 'What'd You Miss'

By Jacob Wolinsky. Originally published at ValueWalk.

Bill Gross on ‘What’d You Miss'”>Bill Gross on ‘What’d You Miss’

Streamed live 5 hours ago
Today on ‘What’d You Miss,’ co-hosts Scarlet Fu & Alix Steel bring you live coverage of the market close and talk to Standard & Poor’s Chief Global Economist Paul Sheard about the G7 meeting. We’ll also bring you Erik Schatzker’s interview with Bill Gross, live from FI16 in Los Angeles (http://la.bbgfi16.com/). We’ll hear from the bond king on central bank policy and his outlook for global growth.

‘What’d You Miss’ with Alix Steel, Scarlet Fu, and Joe Weisenthal airs every weekday on Bloomberg TV from 4 – 5 pm ET:

The post ...



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OpTrader

Swing trading portfolio - Week of June 27th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Mapping The Market

Thoughts on Brexit

I have mixed feelings about Brexit today. Clearly the European institution need reforming. The addition of so many countries in the last 20 years has created a top heavy administration. The Euro adds more complexities to the equation as the ECB policies cannot fit every country's problem. On the other hand, a unified Europe has advantages as well – some countries have benefited from the integration.

For Britain, it's hard to say what the final price will be. My guess is that Scotland might now vote for independence as they supported staying in Europe overwhelmingly. Northern Ireland might be tempted to leave as well so possibly RIP UK in the long run. I was talking to some French people and they were saying that now there might be no incentive for France to stop immigrants from crossing over to the UK like they do now and simply allow for travel there and let the UK deal with them. The end game is not clear to anyone at the moment....



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Digital Currencies

Bitcoin Tumbles 10%

Courtesy of ZeroHedge. View original post here.

One week ago, when bitcoin first crossed above $700 on the seemingly insatiable Chinese buying which we forecast last September (when bitcoin was trading at $230) would take place as a result of China's capital controls (to much pushback by the "mainstream" financial media), we tried to predict what may happen next. We said that "it could go much higher. That said, anyone who bought last September when the digital currency was trading at $230 may be advised to take some profits, and at least make...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Biotech

This Is Why Biotech Stocks May Explode Again

Reminder: Pharmboy and Ilene are available to chat with Members.

Here's an interesting article from Investor's Business Daily arguing that biotech stocks are beginning to recover from their recent declines, notwithstanding current weakness.

This Is Why Biotech Stocks May Explode Again

By 

Excerpt:

After a three-year bull run that more than quadrupled its value by its peak last July, IBD’s Medical-Biomed/Biotech Industry Group plunged 50% by early February, hurt by backlashes against high drug prices and mergers that seek to lower corporate taxes.

...



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Promotions

PSW is more than just stock talk!

 

We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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