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Two Big Reasons To Dump Your Oil Refinery

Fri, 17 Jul 2009 18:34:06 GMT

Quite simply, this is not a good time to be in the business of refining oil in the United States. The obvious reason for this is the continuing recession which has led to lower demand for gasoline and other refined products. With the summer driving season past the halfway point, having the word ’staycation’ become commonplace is not good news for the refiners. But that’s not all. And it goes well beyond simple economic downturn. There are other factors at[More...]

A Big Day

Wed, 18 Mar 2009 13:49:00 GMT

Big day today.Contrary to Macro Man's expectations, equities put in a very good day yesterday, with the SPX breaking and closing above the 767 level. Perhaps the feel-good was stoked by the unexpected rise in housing starts; if so, Macro Man remains sceptical, as that data is a rather flimsy foundation for a recovery.Perhaps, also, the rally was stoked by a belief that the Fed will do something at tonight's meeting. Certainly, the Fed has lost its leadership in the global easing league table. While Bernanke has long been touted as an expert on the Great Depression, and the Fed was the first CB to publicly contemplate quantitative easing in this cycle, they've basically done nothing for several months. (OK, they've been preparing for the TALF, but hey- what have you done for me lately?)As a consequence, the growth of the Fed's balance sheet has stalled. In the meantime, the BOE, SNB, Bank of Israel, and[More...]

More Tinkering In The Markets? Do You Trust Your Government?

Thu, 12 Feb 2009 14:30:00 GMT

Alex’s Notes: Hat tip to Simon Heapes who pointed this article out to me this morning. I certainly found the amazing drop in oil price strange when it occurred. When I see an amazing rise or drop, I have learned (ok call it being cynical) that many times it might just be someone tinkering in the markets. I have seen far too much evidence of this kind of tinkering PERSONALLY to just dismiss it anymore. So when a massive shift occurs, not only do I look at market fundamentals, what the technical traders are saying, but also I look for motive and manipulation. To assume we trade in “free markets” any more is simply naive. Does this mean I think every move in the markets are contrived? No, that is not what I am saying. What I am saying is, that markets have been manipulated for far smaller incentive than the sovereignty and or control of an entire monetary[More...]

Thursday - Oil Inventory Preview Plus

Thu, 22 Jan 2009 14:53:00 GMT

In Today’s Post: Holdings Watch Commodity Watch EIA Oil Inventory Report Preview (11 EST release time today) Stuff We Care About Today - Viewer mailbag, HK, NE, SLB Odds & Ends Holdings Watch: No changes yesterday. I was looking for a rally, mission accomplished but we need to retake the 850 level on the S&P500 (as several of you have pointed (...)[More...]

Jobless Friday

Fri, 09 Jan 2009 14:22:00 GMT

The jobs report came in at 524,000 lost for December, in line with estimates that were revised lower following ADP’s back breaker of a number on Wednesday. Unemployment stands at 7.2% and there were downward revisions (more losses) to the October and November numbers. Futures ticking up following the news as many feared it could (...)[More...]

Ten Non-Predictions For 2009: Part 1

Wed, 07 Jan 2009 22:12:00 GMT

Better late than never, Macro Man is happy to reveal is list of non-predictions for the new year. And so, without further ado..... 1) Last year's lows in the S&P will NOT hold. Consensus looks for 2009 earnings to be roughly the same level as 2008. This looks too high. The economic environment in the US and the world is not the worst since the early 80's, it's the worst since the 1930's. And while the end of the Great Moderation will bring with it the end of the uber-leveraged business model, that model will go out with a bang rather than a whimper. The growth of leverage in US corporation can be seen in the chart below; observe how during the period of relative macroeconomic stability (1982-2006), each recession brought about a steeper drawdown in corporate earnings from the cyclical peak. Macro Man expects a substantially deeper drawdown than during the previous recession, both[More...]

Weekly Watchlist 01/05

Mon, 05 Jan 2009 14:21:00 GMT

Welcome back from the weekend! As the rest of the market returns from the holiday break, we should see more volume and volatility creep back into stocks. Only tomorrow will tell as to whether or not this is a positive or a negative for stock prices. At the moment, futures prices are trading slightly lower. The Dow is off by 44 points, the S&P down 5 points, and the Nasdaq is down 7 points. Crude oil is up another buck, trading at $47.30. As we talk technicals, take a look at a 5 day chart of the mini S&P futures contract. [More...]

Price Of Oil Versus Price Of Gasoline

Sat, 06 Dec 2008 17:00:00 GMT

Yesterday, WTI spot crude closed at $40.81 per barrel. By simply looking at pump prices, it is evident that gasoline prices of fallen dramatically along with crude. So how much lower could pump prices decline based on the per barrel price of crude? (click to enlarge) [More...]

Few Charts

Tue, 11 Nov 2008 23:26:00 GMT

Well, the joy of the Chinese stimulus package lasted....err......about 12 hours. By the end of the day yesterday, stocks finished solidly in the red and oil had reached a new cyclical low, with front-month WTI trading down onto a 50 (!) handle since Q1 2007. The fun has continued this morning, with everyone's favourite kleptocrats adjusting the top end of the rouble basket, allowing for a 1% deval from 30.40 to 30.70. Anecdotals suggest plenty more trapped positions. Another pegged currency that Macro Man is watching is the Hong[More...]

What Does 4 Trillion Yuan Buy?

Mon, 10 Nov 2008 23:29:00 GMT

Friday was a milestone in the evolution of the ongoing financial crisis. No, not the employment data, which was execrable (and prompted Goldman to raise their unemployment rate forecast to an eye-watering 8.5%.) In fact, Friday was notable because it was the first time in quite a while that Macro Man can recall being bored at the office. It seems as if markets have mentally shut down and are content to limp into the end of the year. Liquidity has certainly dried up amongst many of the products that Macro Man trades, and declining volumes in a number of exchange-traded assets also bear testament to a lack of engagement. Moreover, the ever-reliable blog traffic indicator has shown a reasonable decline in eyeballs from the panicky markets of a month ago. As always, that is perhaps explainable by the dearth of quality of the commentary in this space...but nevertheless it would appear to indicate a waning interest in the day-to-day saga of the financial[More...]

The Sacramento Bee, Calif., Bob Shallit Column: Bob Shallit: Midtown Alley Mural Project Earns an Encore

Thu, 03 Sep 2009 10:46:00 GMT

Sep. 3--Splashy pieces of outdoor art are right up Thomas Roth's alley.
The local landlord donated the "canvas" for an eye-catching, 80-foot-long mural along the alley off 23rd Street between K and L streets.
"We're thinking it will be portraits of movie stars," says Roth, who's the chief benefactor of the Midtown Alley Project (MAP), which utilizes dozens of local artists to bring a flourish to neglected alleyways.

: iStockAnalyst.com Symbols Feed

Two Big Reasons To Dump Your Oil Refinery

A Big Day

More Tinkering In The Markets? Do You Trust Your Government?

Thursday - Oil Inventory Preview Plus

Jobless Friday

Ten Non-Predictions For 2009: Part 1

Weekly Watchlist 01/05

Price Of Oil Versus Price Of Gasoline

Few Charts

What Does 4 Trillion Yuan Buy?

The Sacramento Bee, Calif., Bob Shallit Column: Bob Shallit: Midtown Alley Mural Project Earns an Encore

Low Prices, Margins Affect TOP: Profit Off 41 Percent but H2 Should Be Better

Average Pay Raise is Likely to Be Below 2 Percent

The Kansas City Star, Mo., Randolph Heaster Column: Average Pay Raise is Likely to Be Below 2 Percent

Crude Surge Could Top $100 Per Barrel

TAQA 1st Quarter 2009 Financial Results

Kuwait Budget Likely to See Surplus in FY2009/10

AME Info, Abu Dhabi, United Arab Emirates, Finance and Economy Briefs - Apr 6 2009 12:24PM

Oil Market Outlook - Mar 24 2009 2:14PM

W&T Offshore to Repurchase Shares

W&T Offshore Reports Second Quarter Results

W&T Offshore Declares Quarterly Dividend on Common Stock

W&T Offshore Reports Second Quarter Results

W&T Offshore Announces Second Quarter 2009 Earnings Release and Conference Call Schedule

Technip Second Quarter Results Show Improved Outlook for Key 2009 Indicators

W&T Offshore Announces Second Quarter 2009 Earnings Release and Conference Call Schedule

RothmanResearch.Com Stock Review for RRD, AIB, CCI, WTI, TK and SPN

W&T Offshore to Present at the RBC Capital Global Energy & Power Conference in New York City and the 2009 Energy Capital Investment Symposium In Houston

Oil and Gas Investor Announces Twenty Four Presenting Companies at Energy Capital Investment Symposium, June 3, Houston

W&T Offshore to Present at the 7th Annual Louisiana Energy Conference in New Orleans and the Calyon Energy Forum 2009 in NYC

Form 4 BOULET VIRGINIA For: May 04 (10K)

Form 4 W&T OFFSHORE INC For: May 04 Filed by: Israel Robert I (10K)

Form 4 W&T OFFSHORE INC For: May 04 Filed by: GIBARA SAMIR G (10K)

Form 4 W&T OFFSHORE INC For: May 04 Filed by: Schroeder Stephen L (10K)

Form 4 W&T OFFSHORE INC For: May 04 Filed by: Vazquez Jamie L (10K)

Form 4 W&T OFFSHORE INC For: May 04 Filed by: Nelson S James (10K)

Form 4 W&T OFFSHORE INC For: May 04 Filed by: LEA W REID (10K)

Form 3 W&T OFFSHORE INC For: May 04 Filed by: Stanley B Frank (10K)

Form 4/A W&T OFFSHORE INC For: Mar 20 Filed by: Vazquez Jamie L (10K)

Form 4 W&T OFFSHORE INC For: Mar 20 Filed by: Vazquez Jamie L (10K)