Joined Jan 1, 1970
509 Blog Posts

Buying Energy

You guys are killin’ me. This is just too much to take.

Ahead of the emergency OPEC meeting this Friday, I picked up a little Continental Resources, Inc. [[CLR]] , @ $22.66,Transocean Inc. [[RIG]] , @ $68.58, Apache Corporation [[APA]] , @ $70.13, Brigham Exploration Company [[BEXP]] , @ $6.63, and [[DXO]] , @ $5.11. I will continue to scale into energy names like these.

Look people, the Saudi’s need $55/bbl to balance their budget, the Russians $70, and the Iranians and Venezuelans $95/bbl. Plus the dollar is killng them. They will cut production significantly, knowing that the asshat American consumer has now started driving back and forth to the mall again, four times a day, due to cheap sub-$3 a gallon gas.

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