Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Posted: Sat May 03, 2008 2:12 am Post subject: Appropriately Named Chevron Project in Gulf Delayed
Just couldn't resist:
Quote:
Chevron Corp., the second-largest U.S. oil company, said the start of production from a $1.4 billion project in the Gulf of Mexico will be delayed to the second half of this year.
The oil development, called Blind Faith, is being slowed by a problem with its mooring lines, company spokesman Jim Aleveras told investors today on a conference call. It was scheduled to begin producing oil by the end of June.
Posted: Sat May 03, 2008 7:37 pm Post subject: Re: Appropriately Named Chevron Project in Gulf Delayed
Quote:
Blind Faith is Chevron's costliest Western Hemisphere project among those that are scheduled to commence production this year. The company postponed four of its biggest projects last year amid a worldwide scarcity of rigs and escalating costs that have postponed developments from Australia to Alberta.
``This is an industrywide problem that's affecting not just Chevron,'' said William Andrews, a portfolio manager at C.S. McKee & Co., which oversees $7.7 billion, including Chevron shares. ``Just about everybody else is dealing with similar issues.''
I wonder if the international oil companies are dragging their feet at all with these projects. I doubt it since they have always produced as fast as possible but maybe times are changin'.
Blind faith is listed on the megaprojects and somebody already has the start-up date for 9/2008.
Oil Megaprojects 2008
Joined: Apr 06, 2006 Posts: 2862 Location: 3 miles NW of Champoeg, Republic of Cascadia
Posted: Sat May 03, 2008 7:45 pm Post subject: Re: Appropriately Named Chevron Project in Gulf Delayed
S_C wrote:
Quick question ivanillich, what's that avatar you're using, a cave painting?
Looks more like the Shroud of a Nihilist:
So we're naming oil projects after rock supergroups now? What's next, the ELP field? _________________ Cogito, ergo non satis bibivi
I'm just gonna find a cash machine.
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