United States Natural Gas Fund, LP (UNG)

All Comments on UNG

  • commenter
    valueinvesto
    r123
    Oct 13 08:06 AM
    Oil Industry: Farewell, Good Old Days [view article]
    CHK is not out of cash and the vast majority of their debt is long term. You should really learn how to read a press release, balance sheet, and footnotes to an 10Q and 10K before you go about amking assertions. Reply
  • commenter
    mysaug
    Oct 12 11:42 PM
    Oil Industry: Farewell, Good Old Days [view article]
    Andrew, you forgot the most important counterbalance which is that many productive fields are quickly playing out as in Mexico, Alaska even Saudi Ariabia from what many experts are stating and are not easily being replaced; the new finds are mostly very expensive to get at.

    NG is interesting , one bitter winter and the price goes back up. Canada is using most of its NG for tar sands and gulf is starting to play out.     Reply
  • commenter
    ninetyseven
    Oct 12 10:24 PM
    Oil Industry: Farewell, Good Old Days [view article]
    XOM is an integrated oil company and historically a very well managed one. People seem to think that the only reason it makes its gigantic profits is because of high crude prices when in fact reasonably high profitability numbers were being posted when crude was still in the 60's.

    As crude prices fall, refining margins tend to move higher. In the most recent era of rapidly escalating price at the pump, refining costs were not able to be passed through. Ask Tesoro, Valero and other pure refiners about that. With falling crude prices increased refining profitability must return or there will be a refining throughput contraction as those least able to compete will otherwise begin to falter.

    XOM will also be able to realize better margins in its chemical production which can be a huge profit center for them in times of lower feedstock costs. Vertical integration and conservative management has worked very well for them and I wouldn't count them out just yet.

    I suspect there will be a recognition this coming week that with very low debt, huge cash reserves, and an extremely strong balance sheet that XOM stock was only sold off because of the need to raise money for the redemptions of funds in the panic and it is a screaming buy at these levels.     Reply
  • commenter
    STLPlace
    Oct 12 09:05 PM
    My Website
    New Technology Makes Natural Gas a Viable Replacement for Oil [view article]
    It seems to me Pickens plan did not get too much attention.

    One reason I suspect is his past association with Swift boat thing made him perceived not as an impartial person on this matter. Not to mention his personal economy interest in Wind and other enerfy stock holding in his hedge fund.     Reply
  • commenter
    STLPlace
    Oct 12 09:01 PM
    My Website
    Oil Industry: Farewell, Good Old Days [view article]
    Maybe it's a good time for XOM to snap up CHK? After all, it's hard for XOM to get more oil from those national oil companies. Reply
  • commenter
    tigris72poo
    Oct 12 07:13 PM
    Oil Industry: Farewell, Good Old Days [view article]
    Try $43 billion in annual profit Mr Snyder -after all expenses and depreciation. That is more than enough PROFIT in one year to buy Goldman Sachs or Boeing or Eli Lilly or Occidental Petroleum just to name a few. XOM is by far the biggest, most profitable and financially strongest company in the world. And they sell a product that is a necessity and they sell it for cold hard cash. I would certainly rather own XOM shares for the next 20 years rather than depreciating "ultrsafe" US Treasuries. Reply
  • commenter
    steve Ward
    Oct 12 03:14 PM
    Oil Industry: Farewell, Good Old Days [view article]
    Companies like XOM have the cash to purchase assets on a cheaper basis than what the pricing was in the last year. XOM has been stubborn in its belief that oil and gas pricing was too high for price sustainability nand therefore refused to pay the asking prices of 100 dollar barrel oil for proved and probable assets.

    How long the respite in pricing I simply don't know. But the CHK's of the world are increasingly vulnerable to takeover at a less than desireable price than just 6 months ago.
    OPEC's historical power has not to be able to maintain high pricing but to rather the ability to drag low pricing off the floor.But only after 18 to 24 months of wrangling amongst its members.

    the early predictions of the Exxon's, the Chevron's and the Total's of the world going the way of the Dodo hyave been pre-mature at best and wholly inaccurate at its worst.

    In an age of lower pricing and tight credit who but the well heeled can sit and wait and self fund purchases of assets.     Reply
  • commenter
    Red Ryder
    Oct 12 02:49 PM
    Oil Industry: Farewell, Good Old Days [view article]
    Don't ignore the comments above: They're not idiotic as atavista says. It's a boom and bust commodity industry, always has been and always will be. Natural gas is different. The author talks about Pennsylvania, which is likely natural gas leases that people are paying a lot of money for and then he goes on to talk about the price of oil. Need to keep the two separate. We'll bounce around for a while on prices and then slowly start creeping back up, then go into a hard run up, then of course, another fall. Make sure the companies you buy at this time have good balance sheets and low debt. I know for a fact that they see this as a buying opportunity. Reply
  • commenter
    Atavist
    Oct 12 01:42 PM
    Oil Industry: Farewell, Good Old Days [view article]
    Ignore the idiocy of the blowhards above and pay attention ot Mr. Snyder's comments. Reply
  • commenter
    Jimbo
    Oct 12 12:54 PM
    Oil Industry: Farewell, Good Old Days [view article]
    I concur completely with Sponger. We are totally dependent on hydrocarbon fuels in the years ahead. Alternatives, such as electricity, hydrogen, or bio-fuels, have infrastructure and technical problems to be overcome. You can include political problems as well. Reply
  • commenter
    lc_william
    Oct 12 12:40 PM
    Some True Safe Havens Are Still (Surprisingly) Undervalued [view article]
    Even if Mark Anthony is correct today, he is the boy who cried wolf.

    He has been touting PAL and SWC for several years now. Based on the price of PAL and SWC, Mark has lost everyone, I repeat EVERYONE money. If he is so attuned to global markets, he should have seen the strengthening of the USD and the global slowdown.

    These are the two real reasons that Palladium, Platinum and all other dollar denominated assets have gotten crushed yet, for the most part, he appears to skate around global demand destruction and no mention whatsoever of the strengthening USD.

    Mark - will you continue to avoid the reality of USD strengthening and global demand destruction in future articles.

    Buy now at $1.10... and you'll be 50% lighter by end of December '08.     Reply
  • commenter
    sponger
    Oct 12 10:48 AM
    Oil Industry: Farewell, Good Old Days [view article]
    Once again, in this chicken/egg issue, we are failing to recognize that
    it is a rising dollar that has caused falling oil prices. The world's need for oil will not diminish until a satisfactory replacement is functional.

    In fact, prices will reverse eventually as drilling/production is temporarily
    curtailed due to lack of credit financing for those enterprises. It may also follow that exploration/drilling activity will move over to cash- rich large cap integrated companies for the time being.     Reply
  • commenter
    paulk8756
    Oct 12 09:51 AM
    Oil Industry: Farewell, Good Old Days [view article]
    Andrew,

    No offense, fella, but the last time I checked (this morning) oil prices were still at RECORD historic highs. And worldwide production was still DECLINING, and still controlled by a CARTEL.

    As regards NG, the U.S. is now awash in the stuff thanks to modern exploration and production techniques. But don't confuse the two! Oil can be transported and sold the world over, but NG production is STRANDED by its very nature. And don't worry, we'll find uses for ALL of it as a utility and transportation fuel.

    As for energy companies going broke, that's always been true. (Not just for them, actually, but for all types of private enterprises.) Again, not to worry, the one's that don't survive will be replaced by others.
    As Boone Pickens himself would tell you, he's become a billionaire several different times!
    Reply
  • commenter
    10Q
    Detective
    Oct 12 09:20 AM
    My Website
    Oil Industry: Farewell, Good Old Days [view article]
    Tough times ahead!

    industry.bnet.com/ener.../

    Reply
  • commenter
    Fred Banks
    Oct 12 09:01 AM
    Oil Industry: Farewell, Good Old Days [view article]
    Well, Andrew, time for me to put on my *Leading academic energy economist in the world' beret again. Take the first line of your contribution for example, about the lack of credit putting the "crimps" on plans to explore and develop. Although this is not certain, I would call it very bad news if it is true, because the demand for oil and gas is NOT going to go into a nosedive, and when this macroeconomic/financia... trouble blows over, that demand is definitely going to begin climbling again.

    You mentioned the IEA (as I call it). Its executive director mailed me a month or so ago and suggested that I was off my nut because of my ridiculing the forecasts of his organization. Specifically, he said that I said that the IEA had predicted a production of 121 mb/d in 2030, when actually the IEA only predicted consumption. This was what is generously called 'a departure from the truth', because I spent a few very pleasant hours discussing this crazy production forecast with my class at the engineering university in Bangkok, and as for Monsieur Mandil (of the IEA), I explained to him that an intertemporal consumption forecast without some indication of production over the same time horizon hardly deserved to be called nonsense.

    Of course, what that gentleman is doing is backing up his drowsy employees, because as his fellow countryman M. de Margerie must have explained to him at one of those wonderful Parisian lunches, it is not at all certain that world oil production will ever exceed 100 mb/d.

    On the other hand, you are almost certainly correct when you say that there are some beautiful values "out there" thanks to excessive pressure on the panic button.     Reply
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