Oy Vey! And O'Reilly is from Dublin, no less! Sounds like some Eammon De Valera doublespeak to this Mick. <vbg>
dailynews.yahoo.com
If I recall, CHV's capex is to be "down" 16% this year. But only because certain very large purchases of property are not to be repeated. In fact, their E&P expenditures are to be up, with some fairly large deep water projects underway.
Now, just what do the Irish know about oil prices anyway?! <g> To quote another famous Irishman, Ronald Reagan, "I think he must have been drinking something" <VBG>
Well, at least we can take comfort in the fact that Moody-Stuart is now an Oil Bull - he's predicting $20 oil - up from 15, don't ya know. Just wee bit behind the curve, I'd say. You will, of course, pardon me, while I take the unsustainable comments with a grain of salt, as O'Reilly gave no "tangible" reasons for his remarks. They seemed somewhat flippant to me, aimed more at justifying the recent chemical JV with P, and his companies lack of foresight wrt capex. But you never know, that's why I've shifted into pipe. Damn, if the Arabs open the spigots, won't they need pipe? Got any steel mills in Bahrain?
BWTFDIK, I'm just a poor dumb mick whose drunk wayyy to much Jameison's, in his day.
OSX 40 here we come. |
