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December 1
With its "Suspect" Forecast Figures, U.S. Oil Lobby is Blind to the Looming Spike in Crude Prices
Profit From the Looming Spike in Crude Prices That the U.S. Oil Lobby Doesn't See Coming
By Kent Moors, Ph.D.
Contributing Editor
Money Morning
John Felmy has been the chief economist of the American Petroleum Institute (API) for years. He's well respected. And I appreciate his experience. But the two of us disagree more often these days.
We most recently locked horns at Malone University in Canton, Ohio, last week, where we were debating the future of oil. (Actually, when the invitation was made, I was supposed to debate Sarah Palin. But she pulled out to go on the road and pitch a book she didn't write.)
Nonetheless, something disturbing emerged from the debate.
I still find John a pleasant enough fellow, but the mantra coming from the API, the mouthpiece of the oil industry, is wearing thin. They want us to believe that the oil market is still fine, still humming along, still providing the best energy value. You've heard the argument before: Gasoline is cheaper than milk or bottled water...
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EXCLUSIVE: The special report that could blow Big Pharma out of the water!
What life-saving therapy are they hiding from YOU?
The headlines should have been blazing. The biggest health discoveries of our time -- effective treatments for almost every disease. Breakthroughs like: - a side-effect free cholesterol buster -- that costs 4 cents a day
- the seaside wonder that could make arthritis drugs all but obsolete
- and a natural cancer killer 10,000 times stronger than chemo
And if Big Pharma had their way, you'd never hear about a single one.
But they can't keep these cures a secret forever -- and one team is working round-the-clock to make sure you find out about every last one.
Read on...
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Eight Ways to Profit as the U.S. Housing Recovery Gathers Steam
By Larry D. Spears
Contributing Writer
Money Morning
If you were interested in homes for anything other than personal shelter, November was a pretty discouraging month, with continuing gloom the most prominent feature of virtually every report issued on the housing sector.
Whether it was the disappointing quarterly earnings numbers for America's top two home-improvement companies, the dismal listing of October housing starts and new building permits or the downbeat readings for the National Association of Home Builders (NAHB) Sentiment Index, you had to dig pretty deep to find any hint of a near-term rebound in the housing sector.
As investors, we all know that the U.S. housing market will eventually rebound. Consumer interest in housing will be fueled by improving business conditions, renewed jobs growth, a loosening of credit restraints for mortgages and the demands of a growing population for new and better places to live...
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Investment News Briefs
With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world.
Reuters Poll Shows Manufacturing Decline; Treasury Pushing Banks to Stem Foreclosures; Sands Hong Kong IPO Flops; India GDP Growth Could Lead to Monetary Tightening; LatAm to Return to Growth in 2010; China Snaps Back at Currency Accusations - The Institute for Supply Management's (ISM) manufacturing index, which is set for release today (Tuesday), is expected to show that manufacturing activity decelerated in November, according to a Reuters poll of economists. The median estimate for the ISM manufacturing index in November was 55.0, a step back from 55.7 in October. Estimates from the 70 economists polled ranged from a low of 52.0 to a high of 56.2, Reuters said.
- The Treasury Department said yesterday (Monday) that it will withhold payments from mortgage companies that aren't doing enough to help borrowers at risk of foreclosure, The Associated Press reported. A $75 billion taxpayer-financed effort – called Making Home Affordable – to get banks to lower payments for troubled borrowers in exchange for thousands of dollars in incentives so far has resulted in relatively few permanent loan modifications. An oversight panel last month said fewer than 2,000 of the 500,000 loan modifications in progress had become permanent.
- Las Vegas Sands Corp.'s (NYSE: LVS) Macau unit slid 10.2% to close at HK$9.32 in its first day of trading on Hong Kong's Hang Seng Index, making it the fourth-worst Hong Kong debut this year. Sands China raised HK$19.4 billion ($2.5 billion) in its initial public offering (IPO).
- India yesterday (Monday) reported its best growth figures in a year and a half as government spending and record low interest rates helped Asia's third-largest economy rebound to 7.9% growth. Analysts said the growth could pave the way for the central bank to raise interest rates. "This data could be a green light for the Reserve Bank of India to hike rates, and there are greater chances of this by end of the calendar year," said Robert Prior-Wandesforde, senior Asia economist at HSBC Holding PLC (NYSE: HBC) in Singapore.
- Latin American economies will shrink by between 1.5% and 1.9% this year but return to growth in 2010, according to the latest projections by the Organization for Economic Cooperation and Development (OECD). "Latin America as a whole is showing signs of recovery and stabilization," the Paris-based organization said in the statement. "Economic activity is helped by improving conditions in global financial and commodity markets, as well as recovering exports."
- China ramped up rhetoric pertaining to its currency, the renminbi, which European and U.S. policymakers insist is undervalued. "Some countries on the one hand want the renminbi to appreciate, but on the other hand engage in brazen trade protectionism against China." Chinese Premir Wen Jiabao said at the conclusion of a European Union-China summit in Nanjing. "This is unfair. Their measures are a restriction on China's development." China's trade minister, Chen Deming, also defended China's position, taking a swipe at the United States in the process. "There is another major economy in the world which is devaluating its currency," Chen told journalists through a translator in Geneva, where he was attending a World Trade Organization meeting. "But I hardly see any criticisms of this in the media."
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Tiny Texas Oil Company Hits $2.8 Trillion Discovery
A microcap company from Dallas has discovered 40 billion barrels of crude oil. The haul is worth $2.8 trillion. It's one of the biggest oil discoveries in history. And one company now owns the right to every drop. It's about to bring this oil to market. Investors who get in beforehand could earn 1,820% gains. But the really amazing thing is where this oil is located.
For complete details, please go here.
11/30/2009
Bargain Hunters Turn Out for Black Friday
11/30/2009
Dubai Debt Fiasco Could Weigh on U.S. Banks
11/24/2009
As Bank Failures Grow, FDIC Options Narrow
Feature
Why are "Insiders" Going Long on Oil?
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November 30
| The Chicago Business Barometer | December 1
| ISM Manufacturing Index (11/09), Construction Spending (10/09), and motor vehicle sales reported. | | December 2 | The ADP Employment report. | December 3
| Retail chains report Black Friday sales. Initial Jobless Claims (11/28) and ISM Services Index (11/09) reported. | | December 4 | Unemployment Rate (11/09), Nonfarm Payroll (11/09), Factory Orders (10/09) | Worth Considering
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