Posts Tagged: energy

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7
Sep 10

BP May Be Preparing More Asset Sales

Several media have reported that BP will increase its target for asset sales to as high as $40 billion. This almost certainly mean disposing of its aging oil field holdings in Prudhoe Bay, Alaska, which may be worth as much as $20 billion

…Several media have reported that BP (BP) will increase its target for asset sales to as high as $40 billion. This almost certainly mean disposing of its aging oil field holdings in Prudhoe Bay, Alaska, which may be worth as much as $20 billion. The U.K.-based company may also sell its share in a joint venture in Russia’s TNK-BP to its partner there.

Apache (APA) may be an acquirer of BP’s Prudhoe Bay or Egyptian assets, which could be worth as much as $7 billion according to the Financial Times.

The news is probably not a terribly good sign for the oil company. It has already spent $8 billion on cleaning up its Deepwater Horizon oil spill in the Gulf, and has to pay $20 billion into an escrow fund to cover future liabilities.

BP’s shares have recovered from their 52-week low of $26.75 to $37.43 as of Sept. 3’s close in New York trading….

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25
Aug 10

Economy Caught in Depression, Not Recession: Rosenberg - CNB

Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.

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12
Aug 10

Seeking Social Return on Investment

Jacqueline Novogratz, founder and CEO of Acumen Fund, describes how her firm is seeking to reinvent philanthropy. By following rigorous business principles, Novogratz has helped fund entrepreneurs developing solutions for clean water, sanitation, and malaria — withthe larger aim of eradicating poverty.

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Seeking Social Return on Investment

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10
Aug 10

Real House Foreclosures of NJ: How Giudice Can Save Her Home

The New Jersey housewife may be in foreclosure on her dream home. But has she done everything she can to avoid it? If you ever find yourself in a similar position, be sure to consider these alternatives.

…Contact the lender
When facing foreclosure, you have options. But one thing that isn t optional is talking to your lender. The last thing a lender wants is to foreclose on a property, so start discussions with your lender about your choices. Hopefully Giudice was smart enough to pick up the phone and try to make arrangements to keep her Garden State Shangri-La.
Compromise
Lenders are often willing to work with you. That can mean modifying your loan, selling the property, or suspending payments temporarily to give you time to raise funds. In Teresa s case, it could give her time to sell a boatload of her cookbooks.
Short sale
When your house is worth less than what you owe, you could opt for a short sale if your lender agrees. If that s the case for the Guidices, it could work in their favor since, despite 12,000 square feet and a sea of marble and onyx, their estate clocks in at a mere $1.8 million.
Deed in lieu
While just as damaging to your credit score as foreclosure, you could ask your lender to cancel…

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Real House Foreclosures of NJ: How Giudice Can Save Her Home

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10
Aug 10

How rich is rich? What would you need to feel wealthy?

Wealth is a subjective concept, but one thing is universal in most definitions: being able to live a comfortable life without having to work.

…One woman from Seattle put it at a “couple thousand dollars a month.” Another from New York City wanted a billion (although she’d still fly coach.)
Experts peg the figure to be somewhere around $2 million to $12 million in savings.
On the high end of that range, a single person living in an expensive part of the country (say, New York City), wanting to retire at 35 would need at least $300,000 a year to feel rich, according to Steven Kaye, president of Watchung, N.J.-based wealth management firm American Economic Planning Group. He based that number on real-life figures his clients tell him they need.
A yearly income of $300,000 would allow for taxes, a $3,800-a-month apartment (the average price in Manhattan), and a monthly spending allowance of around twelve grand, he said. Not too bad, especially since you could do this all without a pesky job.
To generate $300,000 a year beginning at age 35, you’d need a nest egg of just under $12 million. That assumes a conservative investment portfolio generating a…

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8
Aug 10

How You Can Beat Jim Cramer’s Portfolio for Free

My basic gripe with him is that he makes it appear that he has some special insight into the markets which is of value of investors. However, I’m unable to find any evidence that’s the case, and lots of data indicating it isn’t.

…It’s no secret that Jim Cramer and I have our differences. Our confrontation last year on CNBC’s Power Lunch generated a lot of buzz. My basic gripe with him is that he makes it appear that he has some special insight into the markets which is of value of investors. However, I’m unable to find any evidence that’s the case, and lots of data indicating it isn’t.

So naturally, I was intrigued by this call to action on his web page, thestreet.com: “My charitable trust portfolio was up an amazing…

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How You Can Beat Jim Cramer’s Portfolio for Free

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7
Aug 10

BP Wants to Keep Drilling Near Gulf Oil Disaster Site

In possibly the worst incidence of deja vu in recent memory, BP says that it still might drill in the massive reservoir where the Deepwater Horizon leak unleashed over 4 million gallons of oil.

…In possibly the worst incidence of deja vu in recent memory, BP says that it still might drill in the massive reservoir where the Deepwater Horizon leak unleashed over 4 million gallons of oil. BP’s reasoning is most likely a combination of pure greed and a realization that domestic oil resources are limited–the reservoir is estimated to hold $4 billion worth of oil, according to the Associated Press.You might think that BP would be banned from deepwater drilling in the Gulf, but in fact the former Minerals Management Service has approved nearly 200 leases for deepwater tracts since the disaster, including 12 leases for BP. Four of those 12 leases are in the Mississippi Canyon area, right near the site of the Deepwater Horizon leak. Is BP capable of safely maintaining a deepwater well? Maybe. A consortium of oil companies recently formed to generate a rapid response plan for deepwater sites in the Gulf of Mexico, and a comprehensive oil containment system is expected to be revealed in the next 18 months….

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BP Wants to Keep Drilling Near Gulf Oil Disaster Site

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3
Aug 10

Consumer Spending, Incomes Flat in June; Saving Up - CNBC

U.S. consumer spending and incomes were unexpectedly flat in June, while personal savings scaled their highest level in a year, according to a government report on Tuesday that implied an anemic economic recovery for the remai

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Consumer Spending, Incomes Flat in June; Saving Up - CNBC

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2
Aug 10

Reality Of Financial Assets And Financial Markets Is Risk

Most investors incorrectly think of “risk” as the possibility that the market value of a financial asset might fall below the amount that he or she has invested in the asset.

…profit or good) is the greatest risk creator of all. It invariably causes inappropriate actions within the large mass of individuals who are uninitiated in the ways of the investment gods.
Risk is the reality of financial assets and financial markets: the current value of all securities will change, from real property through time-restrained futures speculations. Anything that is marketable is subject to changes in market value. It is as the gods intended, and portfolios can be designed so that it just doesn’t matter quite so much as you’ve been brainwashed into thinking.
What is abnormal is the hype surrounding market value changes and the hysteria such hype causes among investors. No way should a weak real estate market translate into near zero bank balance sheet entries it just doesn’t compute, except when it is popular politics.
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Similarly, the reality of financial-impact cycles (market, interest rate, economy, industry, etc.) just doesn’t fit at all into the hindsightful, but popular and generally…

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Reality Of Financial Assets And Financial Markets Is Risk

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30
Jul 10

Time to scrap BP brand? Gas-station owners divided

BP gas station owners across the country are divided over whether the oil giant stained by its handling of the Gulf spill should rebrand U.S.

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Time to scrap BP brand? Gas-station owners divided

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