Drill Baby Drill
The Petroleum Petroleum Services Association of Canada (PSAC) just bumped up its drilling forecast by 4% (or 500 wells) to an annual total of 12,750. The service sector is warming up!
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foursquare and twenty years ago...
foursquare is one of my favorite apps. Where you are is where its at!
foursquare infographic
foursquare infographicThe Holy Grail of Physics for Dummies - Michael Scott meets David Brent
The Large Hadron Collider (LHC) is designed to create the Holy Grail of particle physics, the Higgs boson. If two protons crash into each other at high energies, we may be able to gain insights into the origin of the universe. According to Wikipedia such collisions have people fearing the creation of doomsday phenomena, including the production of stable microscopic black holes or the creation of hypothetical particles called strangelets.
A simpler experiment involves a collision between Michael Scott (The Office - USA) and David Brent (The Office - UK). Looks like there's nothing to worry about.
A simpler experiment involves a collision between Michael Scott (The Office - USA) and David Brent (The Office - UK). Looks like there's nothing to worry about.
PTTC Trivia Time
When did the first shipment of oil from Pennsylvania's oil fields to Europe occur?
This week in 1862, the brig Elizabeth Watts arrived at London's Victoria dock carrying 901 barrels of oil and 428 barrels of kerosene from Pennsylvania oilfields, the first "oil" shipment across the Atlantic. Within a year Philadelphia had exported 239,000 barrels of oil, still without the technology of railroad tank cars or tanker ships. Courtesy of the American Oil & Gas Historical Society.
This week in 1862, the brig Elizabeth Watts arrived at London's Victoria dock carrying 901 barrels of oil and 428 barrels of kerosene from Pennsylvania oilfields, the first "oil" shipment across the Atlantic. Within a year Philadelphia had exported 239,000 barrels of oil, still without the technology of railroad tank cars or tanker ships. Courtesy of the American Oil & Gas Historical Society.
How's this for a sales call...
Hey Jimmy, It's Xxxx Xxxxxx Do you wanna give me a call, I'm giving away money. You can reach me at xxx-xxx-xxxx.
A Busy Year
I haven't done a year end summary (like this one for 2006) or looked very far into the future. I'm trying to schedule in some time for retrospection and future planning. This year has already had some memorable activities including:
So the first two weeks of 2010 were filled with great memories and now the Vancouver Resource Investment Conference is looming. I'll be making the following appearances:
SUNDAY 8:30 AM
Eye Opener - Energy
MONDAY SPEAKER HALL 2 - 1:00 PM
Getting ready for the conference should keep my busy but I'll also be updating my readers on Resverlogix (RVX.TO) featuring a lengthy interview with the co-founders of the company. I'm also tracking the numerous developments in the junior iron ore sector.
- Coachella Valley balloon trip on New Years Day
- Fantastic drive from Palm Springs via Amboy to Las Vegas
- SINATRA Dance With Me at the Wynn Las Vegas
- Palm Springs International Film Festival
- Emceeing my wife's retirement party at the Calgary Golf and Country Club
So the first two weeks of 2010 were filled with great memories and now the Vancouver Resource Investment Conference is looming. I'll be making the following appearances:
SUNDAY 8:30 AM
Eye Opener - Energy
M/C Peter Grandich
Jim Letourneau, Big Picture Speculator
Keith Schaefer, Oil & Gas Bulletin
Keith Schaefer, Oil & Gas Bulletin
Marin Katusa, Casey Research
John Lee, Mau Capital
SUNDAY SPEAKER WORKSHOPS - 2:30 PM
- Workshop 2 - 5 Big Picture Stocks
MONDAY SPEAKER HALL 2 - 1:00 PM
- Big Picture Energy Trends
Getting ready for the conference should keep my busy but I'll also be updating my readers on Resverlogix (RVX.TO) featuring a lengthy interview with the co-founders of the company. I'm also tracking the numerous developments in the junior iron ore sector.
True Story - Communist Countries
My teenage children ask me lots of questions and like most fathers, I rarely can answer them with any degree of specificity. I encourage the use of dictionaries and Wikipedia for most questions and try to stick to discussing broad conceptual frameworks. Once you have that down, filling in the blanks is easier. Tonight's conversation turned to communist countries and nobody at the table had a list of them memorized. My daughter didn't know that Cuba was communist. We all knew that China was kind of communist (with reforms) and Russia? Its kind of messy. A man in the street might still know a thing or two about commies but a federal semi-presidential republic?
I opted for the high tech Google Voice option on my iPad and slowly said the words COMMUNIST COUNTRIES. How Google Voice translated that to MY PENIS COUNTRIES is beyond me but we all had a good laugh. I didn't click on any of the links but I'd imagine that most of those are run by dickheads.
...and this will probably be my last pee pee related post of 2011.
I opted for the high tech Google Voice option on my iPad and slowly said the words COMMUNIST COUNTRIES. How Google Voice translated that to MY PENIS COUNTRIES is beyond me but we all had a good laugh. I didn't click on any of the links but I'd imagine that most of those are run by dickheads.
...and this will probably be my last pee pee related post of 2011.
World's Smallest Political Quiz
The world is more complicated than left/right but often voters are forced to "choose sides" in politics. A slightly more complex political map just might help people to make more informed choices. I like saying that "I'm voting the same way my Grandpappy done", especially when I know the person I'm speaking with has strong political views. I've learned through time that strong "political" views are not always informed views. I like to have fun with that.
Find out your political leanings by clicking on the image below (or here)
I never fancied myself as a librarian...
Find out your political leanings by clicking on the image below (or here)
I never fancied myself as a librarian...
Mourning the Ducks
Approximately 300 ducks perished in the sticky tailings ponds of the Alberta oilsands in November. I believe they all received state funerals.
I've long maintained that since most of us don't know where our "stuff" comes from, we're often shocked when we find out. Its hard to make meat without killing an animal, its hard to have books without chopping down trees and our energy and metals often come from sketchy corners of the globe.
Steve Maich's opinion column in Canadian Business (click here) provides some perspective and a well reasoned counterpoint to the throngs of angry duck lovers out there.
Curious as to how many ducks are killed by hunters in Alberta every year? How about deaths do to skyscrapers and windfarms? Maich provides some data...
...hunters typically kill 125,000 ducks every year in Alberta according to Ducks Unlimited. That's one province, every year … for sport. But you don't hunt right? Do you drive? Collisions with motor vehicles kill well over 80 million birds each year in North America. Roughly 10,000 birds die annually in Toronto by slamming their little heads into the sides of tall glass buildings at night — not as a byproduct of some much bigger industrial purpose, but because we can't agree to turn the lights off when we leave the office. Guess what else has a nasty habit of killing birds? Wind turbines. They don't produce carbon, but they are efficient bird guillotines. Michael Fry of the American Bird Conservancy estimates wind farms kill at least 75,000 birds a year in the U.S.
More
I've long maintained that since most of us don't know where our "stuff" comes from, we're often shocked when we find out. Its hard to make meat without killing an animal, its hard to have books without chopping down trees and our energy and metals often come from sketchy corners of the globe.
Steve Maich's opinion column in Canadian Business (click here) provides some perspective and a well reasoned counterpoint to the throngs of angry duck lovers out there.
Curious as to how many ducks are killed by hunters in Alberta every year? How about deaths do to skyscrapers and windfarms? Maich provides some data...
...hunters typically kill 125,000 ducks every year in Alberta according to Ducks Unlimited. That's one province, every year … for sport. But you don't hunt right? Do you drive? Collisions with motor vehicles kill well over 80 million birds each year in North America. Roughly 10,000 birds die annually in Toronto by slamming their little heads into the sides of tall glass buildings at night — not as a byproduct of some much bigger industrial purpose, but because we can't agree to turn the lights off when we leave the office. Guess what else has a nasty habit of killing birds? Wind turbines. They don't produce carbon, but they are efficient bird guillotines. Michael Fry of the American Bird Conservancy estimates wind farms kill at least 75,000 birds a year in the U.S.
More
Chilly in Cancun
I'm glad to see I'm not the only person finding great irony when global warming summits are held during record setting cold snaps.
100-year record lows to be more precise.
Irony alert: The unusually chilly global-warming summit
100-year record lows to be more precise.
Irony alert: The unusually chilly global-warming summit
Silver Rising
Given the rapidly approaching close of our silver coin contest (see banner above), I thought it appropos to share this great graphic from Money Hacker. Everything you wanted to know about silver but were afraid to ask.
[Source: Money Hacker]
[Source: Money Hacker]
PTTC Trivia
More great trivia from the PTTC.
When and where was the first successful demonstration of produced energy from geothermal sources?In 1904 in Tuscany, Italy, Prince Piero Conti lit five light bulbs from a small generator attached to a steam engine in the Larderello steam fields. The success of this demonstration of geothermal power led to the 1911 installation of a geothermal power plant in one of the world's most productive geothermal areas.
When and where was the first successful demonstration of produced energy from geothermal sources?In 1904 in Tuscany, Italy, Prince Piero Conti lit five light bulbs from a small generator attached to a steam engine in the Larderello steam fields. The success of this demonstration of geothermal power led to the 1911 installation of a geothermal power plant in one of the world's most productive geothermal areas.
The Natural Gas Black Swan
I will tell anyone who will listen that the sudden natural gas supply glut is an energy Black Swan. Not all Black Swans are negative events. I don't see any too many people talking about Peak Natural Gas these days.
I've had people tell me that the price of natural gas will go up because of environmental concerns, that shale gas wells decline quickly and that low prices will slow down drilling. While these arguments have some merit, the big picture for natural gas is that large (ie GIANT) "discoveries" can be made in almost every petroleum bearing sedimentary basin on the planet. This is ultimately a short to intermediate term negative most natural gas exporters (either by long pipelines or LNG). George Soros is buying
Dave Forest's You Need to Know This about Natural Gas does a great job of explaining some of the game-changing shifts in the natural gas business. Click here.
Before you decide to load up on natural gas stocks (or the ETF) because they are cheap, don't forget to check the natural gas storage reports. Storage volumes are currently at a 5 year high so low prices haven't been much of a factor in lowering supply... so far.
I've had people tell me that the price of natural gas will go up because of environmental concerns, that shale gas wells decline quickly and that low prices will slow down drilling. While these arguments have some merit, the big picture for natural gas is that large (ie GIANT) "discoveries" can be made in almost every petroleum bearing sedimentary basin on the planet. This is ultimately a short to intermediate term negative most natural gas exporters (either by long pipelines or LNG). George Soros is buying
Dave Forest's You Need to Know This about Natural Gas does a great job of explaining some of the game-changing shifts in the natural gas business. Click here.
Before you decide to load up on natural gas stocks (or the ETF) because they are cheap, don't forget to check the natural gas storage reports. Storage volumes are currently at a 5 year high so low prices haven't been much of a factor in lowering supply... so far.
Three common mistakes made by hard assets investors... and how to avoid them.
I really enjoyed talking about investing mistakes in San Francisco on Sunday morning (even at 7:00 AM). It is a subject that doesn't get much attention at mining shows. Resource Investor did an article on my presentation which is a faster read than my slide show.
Click here to read - Common Mistakes in Investing are Worth Avoiding by Philip Burgert
Click here to read - Common Mistakes in Investing are Worth Avoiding by Philip Burgert
Typical Mistakes in the Oil Business
An interesting video on common mistakes in the oil business. Consulting petroleum engineer, Bob Harrison lays out some of the challenges of doing oil deals. This is part of a series of Expert Talks put together by Elsevier.
Rap on US China Currency Battles
If you're curious about China's reaction to US currency devaluation, here's a fun place to start.
Hat tip to Keith Rabin of KWR International
Hat tip to Keith Rabin of KWR International
Currency Wars!
The United Statest QE2 program is not going over well with the rest of the world. The reactions of Brazil, China, and Germany are uniformly negative. Hold onto your hats, this is going to create a rapid commodities run up.
Brazil
“It’s no use throwing dollars out of a helicopter,” Guido Mantega, the finance minister, said on Thursday. “The only result is to devalue the dollar to achieve greater competitiveness on international markets.”
China
Unbridled printing of dollars is the biggest risk to the global economy, an adviser to the Chinese central bank said in comments published on Thursday, a day after the Federal Reserve unveiled a new round of monetary easing.
Germany
Bruederle said China had been criticised for having an undervalued currency but Beijing argues that U.S. monetary policy is also artificially influencing its currency. The German minister said there was some truth to that. He said a currency war would be a "disaster" which must be prevented and also said U.S. midterm election results made him more concerned about protectionism.
Brazil
“It’s no use throwing dollars out of a helicopter,” Guido Mantega, the finance minister, said on Thursday. “The only result is to devalue the dollar to achieve greater competitiveness on international markets.”
China
Unbridled printing of dollars is the biggest risk to the global economy, an adviser to the Chinese central bank said in comments published on Thursday, a day after the Federal Reserve unveiled a new round of monetary easing.
Germany
Bruederle said China had been criticised for having an undervalued currency but Beijing argues that U.S. monetary policy is also artificially influencing its currency. The German minister said there was some truth to that. He said a currency war would be a "disaster" which must be prevented and also said U.S. midterm election results made him more concerned about protectionism.
Canadian Technology Stocks Under-Followed
I believe that technology stocks are under-followed in Canadian markets so I was happy to contribute to the Cantech Letter, a monthly online magazine focusing on Canadian listed technology stocks.
The November issue of Cantech Letter is about Canadian technology stocks developing or employing cutting edge technology in the Oil and Gas sector.
Highlights include:
Check it out here
I currently own WEE.V shares.
The November issue of Cantech Letter is about Canadian technology stocks developing or employing cutting edge technology in the Oil and Gas sector.
Highlights include:
- "Eight Canadian Tech Stocks that could Change the Oil Sands Forever"
- An interview with Suncor (TSX:SU) about their progress in cleaning up
tailings ponds in Fort Mcmurray. - An interview with Ken Dedeluk of Computer Modelling Group (TSX:CMG)
- Alberta geologist Jim Letourneau weighs in on Wavefront (TSXV:WEE)
Check it out here
I currently own WEE.V shares.
Manhattan Macs
Last week, while I was walking down Broadway a group of laptop users caught my eye. Apple had a 100% market share at this Starbucks. I have never seen a brand that gets complete strangers talking to each other about its latest product developments. We used to talk about cars that way (are you a Chevy or Ford person?) but now the market has been parsed into segments ranging from "smart" cars to Hummers*.
I'm not the most social person when I'm out drinking coffee but I've been asked "Have you seen the new Macbook Air yet?" or "How do you like your iPad?" by complete strangers. Nobody asks me about anything else so I'm pretty sure its not my looks that are soliciting the questions.
The picture says it all. Five laptops in a window, and all five are MacBooks.
Manhattan Macs
*
Hummer drivers get almost five times as many tickets as the national average for all vehicles, according to a 2009 study. More here
I'm not the most social person when I'm out drinking coffee but I've been asked "Have you seen the new Macbook Air yet?" or "How do you like your iPad?" by complete strangers. Nobody asks me about anything else so I'm pretty sure its not my looks that are soliciting the questions.
The picture says it all. Five laptops in a window, and all five are MacBooks.
Manhattan Macs*
Hummer drivers get almost five times as many tickets as the national average for all vehicles, according to a 2009 study. More hereAn Impending Rise In Employment
I haven't seen the phrase "an impending rise in employment" anywhere in the torrent of financial information that I ingest each day except on Jeff Matthew's blog. His open letter to Ben Bernanke is thought provoking and well documented. I try to pay attention to variant statements like Matthew's as they often provide a more accurate view of present and future market prospects than the screaming headlines.
On what basis would Mathew's base his statement?
Well, we listen to a lot of earnings calls with companies that do business all over the world. And we think if you bothered to do the same, it would change your mind about the inevitable persistence of that “stubbornly high unemployment rate,” to quote the well-worn phrase.
Matthews is hearing positives from a variety of industries including private equity, railways, advertising, outplacement, and construction equipment.
More here
On what basis would Mathew's base his statement?
Well, we listen to a lot of earnings calls with companies that do business all over the world. And we think if you bothered to do the same, it would change your mind about the inevitable persistence of that “stubbornly high unemployment rate,” to quote the well-worn phrase.
Matthews is hearing positives from a variety of industries including private equity, railways, advertising, outplacement, and construction equipment.
More here