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Re: Exxon cuts its oil reserves by 3.3 billion barrels

Unread postPosted: Thu 09 Mar 2017, 19:10:46
by ROCKMAN
Jim - Over the last 16 years XOM stock has peaked and fallen back several time. But the overall trend for the last 40 years has been a constantly increasing value. Plus it's paying a 3.6% dividend. As a long term investment it looked pretty good: in the last 30 years it grew from $11 to $80 per share.: But the future? Time will tell. But oil reserves are sill depleting.

Re: Exxon cuts its oil reserves by 3.3 billion barrels

Unread postPosted: Sun 12 Mar 2017, 18:41:16
by Revi
I used to own some USO, but I sold it when it was up a bit. It has tanked since then, and I needed the money.
I feel like I did okay. I'm glad that the price isn't up now, because I'd be kicking myself.

I wonder what these big oil companies are going to do? They are big, but they're dwindling now.

Re: Exxon cuts its oil reserves by 3.3 billion barrels

Unread postPosted: Sun 12 Mar 2017, 19:33:35
by ROCKMAN
Revi - "They are big, but they're dwindling now." Some are...and some aren't. Remember the consolidation history of the oil patch over the last 4 decades. Big Oil hasn't dwindled and isn't today. The numbers of players are getting smaller...not the remaining players. Remember there used to be Seven Sisters...and now there aren't. And the stock of one had sold for $11/share and now at $80/share. We're probably witnessing the largest transfer of fossil fuel wealth in the history o the industry.

As I keep reminding folks: we are cannibals: as resources continue to shrink the weaker in the lifeboat will be slipped over the side leaving more food and water (even though there is less) per remaining survivor. The remainder of the BOC will become very strong in time. In fact, at some point, perhaps more powerful then ever before. Just as the one eyed man is king in the world of the blind the man with the last bucket of Btu's juice will rule those whose lives depend upon one last swallow.

Damn, that's borderline erotic, eh? LOL. Oh, almost forgot: BOC = Big Oil Club.

Re: Exxon cuts its oil reserves by 3.3 billion barrels

Unread postPosted: Fri 17 Mar 2017, 16:44:44
by sparky
.
Good point about the competition of the survivors
as for the seven sisters , they were Esso ,Mobil ,Gulf oil ,Texaco ,Standard oil of California ,British Petroleum , and Shell
the first fives were the daughters of Standard oil , broken by law .

The daughters have now reunited back , that's a bit like the Japanese Zaibatsu broken by MacAthur during his rule there,
they have largely reunited back .
Sumitomo, Mitsui, Mitsubishi Nissan with Nomura added for good count ,while broken in independent companies kept working as single unit through their common "understanding " then reunited the working bits
something like" back to the future "

one must note the quite sudden appearance of the Asian giants ,
the Chinese corporations have deep pockets and a lot of heft in many country ,
they compete directly for reserves all over the world ,
national oil companies are a bit of a strange story , on the whole they don't seem to be able to cut the mustard outside their home advantage