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B4 The Bell Humpday 13


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anyone buying earl or metals here ?

 

tia

The market has a very weak tone today, so it may be too early to jump back into PMs, energies.

 

I picked up more CHK before I realized the above. Tucked into the new tax cut for businesses are a number of new provisions for natural gas activities within the US:

 

Accelerated depreciation for collection equipment, accelerated depreciation for distribution, new tax credits for low producing wells, and expansion of depletion allowance (although the last will probably help only marginal wells).

 

In addition there is a general tax rate reduction and special incentives for new Alaskan pipelines.

 

 

Also -

The Fed took away $1.5 in repos, which is a minor event. However got rid of the agency/mortgage backs they picked up yesterday.

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"The reality is that America is now a one-party state. The Democratic and Republican parties have become nothing but two divisions of the same party -- the Central Leviathan Party. Both divisions are corrupted to the core, lap dogs for the special interests. No matter who wins, we always get more spending, more taxes, more inflation, more bureaucracies, and LESS FREEDOM." http://www.financialsense.com/editorials/h.../2004/1012.html

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HB- don't look for the Alaskan Pipeline anytime soon-It has to come thru Canada and will but Bush wants to bring it thru a wildlife refuge into Canada and that won't fly!

I'm still thinking that TransCanada Corp will get it done, but by the time it gets started and completed it may take years.

 

Meanwhile Alaskan oil production has gone into a terminal decline.

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Ivanhoe Energy signs agreement with Iraq Ministry of Oil to evaluate Qaiyarah Oil Field

WEDNESDAY, OCTOBER 13, 2004 11:47 AM

- PR Newswire

 

BAKERSFIELD, CA, Oct 13, 2004 /PRNewswire-FirstCall via COMTEX/ -- Ivanhoe Energy (Middle East) Inc., a subsidiary of Ivanhoe Energy Inc. (NASDAQ: IVAN and TSX: IE), and the Ministry of Oil of the Government of Iraq have signed a memorandum of understanding (MOU) for Ivanhoe to study and evaluate the shallow Qaiyarah Oil Field in northern Iraq. The field's reservoirs contain a large proven accumulation of 17.1 degree API heavy oil at a depth of about 1,000 feet.

 

Ivanhoe will evaluate the potential response of the Qaiyarah Field to the latest in Enhanced Oil Recovery (EOR) techniques, along with the potential value that could be added using Ensyn Petroleum International Ltd.'s heavy-to-light (HTL) oil RTP conversion technology to produce higher quality, more valuable crude oil. Ivanhoe has the exclusive rights to use Ensyn's technology in Iraq. The work will include an assessment of the oil-in-place in the reservoirs, and the optimum EOR/HTL methods to establish economically recoverable reserves at Qaiyarah.

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Guest libertas
Libertas: Check out the link I posted above. I just ordered the book, and had great conversation on the phone w/ Nelson.

Yes, I saw it thanks soup. Let me know if he actually has a workable idea short of the disaster which is unfolding.

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