Breaking: COP increased its dividend by seven percent. I think a lot of folks "blow off" these dividend increases, but think about this. If one has accumulated enough COP that it is providing an annual "salary" that competes with one's social security, imagine what a seven percent jump in that dividend means. It's not often one gets a seven percent increase in social security.
Link here for "Focus on Fracking."
The lede:
- US crude oil supplies at a 24-month-low; pre-pandemic;
- gasoline supplies at a 22-month low; pre-pandemic;
- total supplies at a 42-month low; well before the pandemic;
- August global oil shortage was another 2.8 million bopd
But at the moment, natural gas is THE story:
- natural gas prices are at a 7 1/2 year high;
- natural gas prices almost set a twelve-year high before falling back;
- natural gas prices finished the week higher, but well off the week's highs
- at $5.00 ... but in Europe:
- natural gas prices rose 3.4% on the week
- pulled higher by prices near $19 in Asia and $23 in Europe
Wow, I'm in a great mood:
- the market provided a buying opportunity today;
- I accumulated shares in a dividend-paying natural gas pipeline company today;
- I will continue to accumulate shares in this company (or perhaps other companies) each day this week as long as the prices remain this depressed
- these are long term holdings; at the end of the day, my grandchildren will not care what I paid for them; they will simply be happy to have this many shares;
- meanwhile, their parents (our two daughters) will see dividends well beyond what anyone in our family imagined twenty years ago;
Speaking of which: a distant aunt -- perhaps a great-aunt -- on the Hispanic side of the family celebrated her 100th birthday last week. Still living at home; and rumored to be the #1 gossiper in the neighborhood. I wonder if she was vaccinated? Ambulates on her own; no wheelchair. No hearing aid? No glasses? It must be the Scotch. Or tequila.
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