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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Big Dog	9/14/2011 9:01:52 AM
	1 Recommendation of 206093

Pickering · Voodoo Economics? – Released a few weeks ago. As part of the upcoming Western GOM lease sale, BOEMRE increased the minimum bid for deepwater blocks from $37.5/acre to $100/acre. Rationale? Wait....for....it.....”rigorous analysis” shows that leases receiving bids of less than $100/acre were rarely drilled. Confusion between correlation and causation means Feds won’t receive bonuses from goat pasture leases...thus reducing overall lease sale revenue. We were going to save this for Friday humor but realized it is sad…not funny.

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