So, at this point, after reading the transcript, what would be the best thing to take a look at right now?
I don't know the answer to that. I know that watching my older granddaughter at water polo right now is pretty rewarding.
Just trying to put things into perspective.
With regard to the comments made by the TPLM CEO, I think this graph is most enlightening, WTI spot price at Cushing, as reported by the EIA:
Point A: $71/bbl, August 18, 2006
The Peak: $145/bbl, July 3, 2008 (two years later, more than doubled)
The Trough:$30/bbl, December 23, 2008 (yeah, that got someone's attention -- and you know -- we all survived)
Point B: $112/bbl, April 27, 2011 (quadrupled less than 3 years)
The Bakken was clearly in the EXPLORATORY phase between 2006 and 2011. Shoot, the North Dakota Bakken did not "begin" until mid-2007 and, based on rig counts, was most active in 2011. The growth in activity between 2007 and 2011 was incredible, despite the volatile swings, and one can argue, the Bakken, as a whole is in a lot better shape today than it was in 2007 - 2009.
And maybe I'm just whistling past the graveyard.
police in New York are very different than Mo. ones. they don't take crap and the people there know it.
ReplyDeleteAs evidenced by the very effective choke-hold.
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