RE:Eric Nuttall It's war time in the oilpatch????
Since when? I hate to admit it, but I still look whenever anyone I respect says the name Eric Nuttall, but I have no idea why any more. This latest screed just proves how delusional he is. He must be the only one still believing that Steve Allan will release a fairy tale that will make every resource industry asset Alberta owns worth $$$trillions, and worst of all, still believing that because there's a war, there must be a battle, prisoners must be taken, traitors executed, and profits taken.
Sorry Eric, money has no conscience. Like a much wiser analyst said some years back (John Embry, close associate of Eric Sprott where Nuttall cut his teeth) "all resource companies are in the business of liquidating their assets." And since the stock market is essentially a play on future cash flows, there can be no success in the war by oil on investors because the plan is to have no future profits! The ideal resource company distributes all its assets as they come out of the ground as cash flow, leaving nothing behind when the asset life - equipment and resource - is used up.
Of course we still need oil. Of course pumping it will always turn a dollar. Of course that will pay wages and profits, and - just possibly - even some taxes too. But unless the oilycos each stumble over an incredible asset that starts pumping itself out of the ground and into the pipelines, it will never be a model investment because it never was! All investment managers (including the CPP!) used them for cash flow and invested for growth elsewhere.
All this by way of saying I think I've turned the page on Nuttall. I never have tio look at another thing he writes because he's been a broken record for at least three years, and that's four years too long.