Vegas Free-for-All - GDP Falls by 2.9% in Q1 14

GDP Falls by 2.9% in Q1 14

Boilerman

May 4, 2015
11:16am

35 days and still not answer from PJ.

Quote

Originally posted by: Boilerman
Where does PJ suggest that our refiners buy the sour crude that they require? Mexico? Possibly Venezuela?

Quote
Originally posted by: pjstroh
Quote
Originally posted by: DonDiego
Quote
Originally posted by: alanleroy
Then there's the other side...Low Oil Prices = US Shale Oil investment dries up.
Extraction of shale oil is more complex and, hence, more expensive. And it's all pretty much been financed by bond-debt some of which has already defaulted. Because of the financial difficulties interest rates for shale-oil company bonds are rising and it is becoming more difficult to just sell additional shares to raise funds, because the stock prices have already fallen.
So, indeed, the layoffs and bankruptcies have begun.
Ref: Forbes

As for 2015Q1, estimates are being lowered. "At least one first-quarter tracking estimate is already close to zero. The Federal Reserve Bank of Atlanta on Wednesday put its gauge at 0.2%, down from its earlier estimate of 0.3%."
Ref: blogs.wsj

Indeed. That Keystone pipeline is looking and less and less like a job boomer each day.

alanleroy

May 4, 2015
11:39am

Block User

Quote

Originally posted by: esteskefauver
GDP growth in Q1 was a dismal .2%. Go Obamanomics!

As in Q1 of 2014 that started this thread, Q1 of 2015 saw some severe weather conditions that impacted GDP...Including some of the worst snowy conditions ever in the Northeast. In addition to that, Q1 15 continued the negative impact of poor net exports due to a stronger dollar. The dockworker strike further eroded GDP. In retrospect, I'm surprised it didn't go negative....and it still can since this is just the first reading.

Is it a trend or a blip? I think it's a blip. I expect Q2 15 to come roaring back with lower energy prices finally finding a way out of consumer's pockets and into the economy. Also, extreme first quarter weather may be responsible for pent up demand that gets fulfilled in Q2...This is what I believe played a big role in the extra strong Q2 14 numbers. Hopefully we have a couple of break out quarters that pushes us closer to our economic potential.

Unfortunately there's still high levels of debt throughout all areas of the economy....business, government, consumer. That becomes a drag on the whole recovery when the initial spending is done, but the payments continue.

pjstroh

May 4, 2015
12:36pm

Block User

Quote

Originally posted by: Boilerman
35 days and still not answer from PJ.

Quote
Originally posted by: Boilerman
Where does PJ suggest that our refiners buy the sour crude that they require? Mexico? Possibly Venezuela?

Quote
Originally posted by: pjstroh
Quote
Originally posted by: DonDiego
Quote
Originally posted by: alanleroy
Then there's the other side...Low Oil Prices = US Shale Oil investment dries up.
Extraction of shale oil is more complex and, hence, more expensive. And it's all pretty much been financed by bond-debt some of which has already defaulted. Because of the financial difficulties interest rates for shale-oil company bonds are rising and it is becoming more difficult to just sell additional shares to raise funds, because the stock prices have already fallen.
So, indeed, the layoffs and bankruptcies have begun.
Ref: Forbes

As for 2015Q1, estimates are being lowered. "At least one first-quarter tracking estimate is already close to zero. The Federal Reserve Bank of Atlanta on Wednesday put its gauge at 0.2%, down from its earlier estimate of 0.3%."
Ref: blogs.wsj

Indeed. That Keystone pipeline is looking and less and less like a job boomer each day.

pjstroh

May 4, 2015
12:38pm

Block User

Quote

Originally posted by: Boilerman
35 days and still not answer from PJ.

Quote
Originally posted by: Boilerman
Where does PJ suggest that our refiners buy the sour crude that they require? Mexico? Possibly Venezuela?

Quote
Originally posted by: pjstroh
Quote
Originally posted by: DonDiego
Quote
Originally posted by: alanleroy
Then there's the other side...Low Oil Prices = US Shale Oil investment dries up.
Extraction of shale oil is more complex and, hence, more expensive. And it's all pretty much been financed by bond-debt some of which has already defaulted. Because of the financial difficulties interest rates for shale-oil company bonds are rising and it is becoming more difficult to just sell additional shares to raise funds, because the stock prices have already fallen.
So, indeed, the layoffs and bankruptcies have begun.
Ref: Forbes

As for 2015Q1, estimates are being lowered. "At least one first-quarter tracking estimate is already close to zero. The Federal Reserve Bank of Atlanta on Wednesday put its gauge at 0.2%, down from its earlier estimate of 0.3%."
Ref: blogs.wsj

Indeed. That Keystone pipeline is looking and less and less like a job boomer each day.

I live to answer Boilerman's questions because he cant figure out how to Google anything for himself.

answer: Probably the same place they get crude oil from now - domestic sources...many that have laid off workers due to a massive glut in crude supply. I'm surprised Boiler asked me instead of his "buddy Pete". Maybe Boiler's figured out his buddy Pete isn't very informed. Progress.

PS - While we're on the subject of unanswered questions.... its been over a year since I asked Boilerman what the scandal was in Bengazhi. I still haven't heard back. I guess only one of us feels inclined to answer the other's questions.

hoops2

May 6, 2015
11:18pm

Block User

I am wondering why chilly hasn't given us his usual update for the 0.2% GDP growth

Boilerman

May 7, 2015
12:00am

Block User

I know the oil and gas industry quite well. My dad was in the oil business for 42 years, my grandfather was in the oil business for 45 years, and Boiler has worked for petrochemical divisions of two oil companies for a combined 25 years. In addition, Boilers best friend, Pete, as an oil executive and manages about $20 billion in assets in the gulf of Mexico.

Where does PJ suggest that America buy sour crude to supply refineries built to run this type of oil?

Quote

Originally posted by: pjstroh

Quote
Originally posted by: Boilerman
35 days and still not answer from PJ.

Quote
Originally posted by: Boilerman
Where does PJ suggest that our refiners buy the sour crude that they require? Mexico? Possibly Venezuela?

Quote
Originally posted by: pjstroh
Quote
Originally posted by: DonDiego
Quote
Originally posted by: alanleroy
Then there's the other side...Low Oil Prices = US Shale Oil investment dries up.
Extraction of shale oil is more complex and, hence, more expensive. And it's all pretty much been financed by bond-debt some of which has already defaulted. Because of the financial difficulties interest rates for shale-oil company bonds are rising and it is becoming more difficult to just sell additional shares to raise funds, because the stock prices have already fallen.
So, indeed, the layoffs and bankruptcies have begun.
Ref: Forbes

As for 2015Q1, estimates are being lowered. "At least one first-quarter tracking estimate is already close to zero. The Federal Reserve Bank of Atlanta on Wednesday put its gauge at 0.2%, down from its earlier estimate of 0.3%."
Ref: blogs.wsj

Indeed. That Keystone pipeline is looking and less and less like a job boomer each day.

Boilerman

May 7, 2015
12:06am

Block User

We may never know as Hillary Clinton has apparently successfully destroyed years of evidence.

Quote

Originally posted by: pjstroh

Quote
Originally posted by: Boilerman
35 days and still not answer from PJ.

Quote
Originally posted by: Boilerman
Where does PJ suggest that our refiners buy the sour crude that they require? Mexico? Possibly Venezuela?

Quote
Originally posted by: pjstroh
Quote
Originally posted by: DonDiego
Quote
Originally posted by: alanleroy
Then there's the other side...Low Oil Prices = US Shale Oil investment dries up.
Extraction of shale oil is more complex and, hence, more expensive. And it's all pretty much been financed by bond-debt some of which has already defaulted. Because of the financial difficulties interest rates for shale-oil company bonds are rising and it is becoming more difficult to just sell additional shares to raise funds, because the stock prices have already fallen.
So, indeed, the layoffs and bankruptcies have begun.
Ref: Forbes

As for 2015Q1, estimates are being lowered. "At least one first-quarter tracking estimate is already close to zero. The Federal Reserve Bank of Atlanta on Wednesday put its gauge at 0.2%, down from its earlier estimate of 0.3%."
Ref: blogs.wsj

Indeed. That Keystone pipeline is looking and less and less like a job boomer each day.

Boilerman

May 7, 2015
12:10am

Block User

PJ is apparently ignorant about different crude grades and different refining capabilities. I could teach you, or you can research it yourself.

Quote

Originally posted by: pjstroh

Quote
Originally posted by: Boilerman
35 days and still not answer from PJ.

Quote
Originally posted by: Boilerman
Where does PJ suggest that our refiners buy the sour crude that they require? Mexico? Possibly Venezuela?

Quote
Originally posted by: pjstroh
Quote
Originally posted by: DonDiego
Quote
Originally posted by: alanleroy
Then there's the other side...Low Oil Prices = US Shale Oil investment dries up.
Extraction of shale oil is more complex and, hence, more expensive. And it's all pretty much been financed by bond-debt some of which has already defaulted. Because of the financial difficulties interest rates for shale-oil company bonds are rising and it is becoming more difficult to just sell additional shares to raise funds, because the stock prices have already fallen.
So, indeed, the layoffs and bankruptcies have begun.
Ref: Forbes

As for 2015Q1, estimates are being lowered. "At least one first-quarter tracking estimate is already close to zero. The Federal Reserve Bank of Atlanta on Wednesday put its gauge at 0.2%, down from its earlier estimate of 0.3%."
Ref: blogs.wsj

Indeed. That Keystone pipeline is looking and less and less like a job boomer each day.

pjstroh

May 7, 2015
12:23am

Block User

Quote

Originally posted by: Boilerman
PJ is apparently ignorant about different crude grades and different refining capabilities. I could teach you, or you can research it yourself.

And Boilerman is ignorant of current events - like the oil supply glut that has caused 1000's of layoffs in the supply chain.

forkushV

May 7, 2015
3:37am

Block User

Quote

Originally posted by: Boilerman
PJ is apparently ignorant about different crude grades and different refining capabilities. I could teach you, or you can research it yourself.

When I want to learn about oil, I'll ask and expert. When I want to know the quickest way to drive from Decatur to Indianapolis, I'll ask an outside salesman. So Boilerman, your time may come.

«‹19 ›»

Already a LVA subscriber?
To continue reading, choose an option below:

Diamond Membership

$3 per month

Unlimited access to LVA website

Exclusive subscriber-only content

Limited Member Rewards Online

Join Now

Platinum Membership

$50 per year

Unlimited access to LVA website

Exclusive subscriber-only content

Exclusive Member Rewards Book

Join Now