GREY:BXEFF - Post by User
Comment by
Steelhead15on Sep 09, 2014 12:11pm
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Post# 22919639
RE:sitting duck
RE:sitting duckSalzach, you are right - this is sickening. Plus nat gas and oil are not low enough to warrant this share price. Bigbab and Mustang are right too. I'm not saying oil will go down like nat gas. I'm saying there is a whole lot of supply feeding a world that is using more alternative energy and more fuel effecient cars. This trend probably won't stop.
The US is using gasoline at the 1996 rate. Amazing. EU and China are struggling to find as much money as they used to make or spend.
Technology has solved the Peak Oil problem for now. There is tremendous shale in the old Mississippi Basin areas. Maybe people don't know this - there is 3,000 to 4,000 feet of shale play in the Permian Basin. There are 6 layers of shale play there. That is huge. Pioneer called it as big as Ganwhar in Saudi Arabia.
Since what mgmt. did at BXE is not as bad as the share price indicates, I'm looking at other SP at hot areas like the Permian. I'm amazed at the production. The US is now the world's largest oil producer. I heard that recently. Kind of hard to believe, but the source was good.