MASTER LIMITED PARTNERSHIPS

Monday, August 25, 2008

Back off the lows of the day again and back over 266. Basing isn't the most enjoyable process.

8 comments:

Anonymous said...: Basing sucks...

Glory!

Joe-did you see that Accuweather is predicting a "colder and wetter than normal" winter? Any opinion?; 8/25/2008 3:02 PM
Anonymous said...: KMP is the "last man standing"

When that one goes down and tests its 52 week low, then that will be the all clear signal to buy the sector. In order for this bear to finish its job, it has to destroy every name in the sector thoroughly.; 8/25/2008 3:16 PM
Anonymous said...: The smaller MLP's are just a wasteland. MMLP, TLP, DPM, WES, HEP, NGLS...no matter how cheap they get, they always seem to get cheaper...; 8/25/2008 3:18 PM
Anonymous said...: You can add the GP's to that wasteland comment also.; 8/25/2008 3:18 PM
Anonymous said...: and XTEX...; 8/25/2008 3:19 PM
joewxman said...: broken clocks are right twice a day.

that being said...i will say that what i am seeing right now points to a colder than normal fall in the northeast. Whether that holds true beyond that i'm not sure.; 8/25/2008 3:20 PM
Anonymous said...: Aug. 25 (Bloomberg) -- Tropical Storm Gustav developed out of a tropical depression in the Caribbean Sea today and may become a hurricane.

Gustav, packing winds of about 60 miles (96 kilometers) per hour, was located about 225 miles south-southeast of Port Au Prince, Haiti, and was moving northwest at about 14 miles per hour, according to National Hurricane Center advisory.

``We could see a major hurricane by the later part of the week,'' said Jim Rouiller, a senior energy meteorologist with Planalytics Inc., a forecaster based in Wayne, Pennsylvania, that caters to businesses including energy companies. ``Right now, it looks like we have a very dangerous hurricane taking shape over the central parts of the Caribbean.''

Hurricane warnings are posted for the southern coasts of Haiti and the Dominican Republic. Gustav is expected to produce from 5 inches (12.7 centimeters) to 7 inches of rain over the island of Hispaniola, with isolated areas receiving as much as 25 inches.

Rouiller said he expects Gustav will develop into a hurricane by Aug. 27. The warmth of the Caribbean's waters and upper atmosphere winds are conducive to the formation of a major storm, which he defined as Category 3, with winds of at least 111 mph, he said in a telephone interview.

Two Possible Tracks

The hurricane center computer models suggest two possible tracks, one north into the Atlantic off the coast of Florida, and the other westward toward the Yucatan peninsula.

``Our first official track somewhat splits the difference,'' said the center's bulletin.

Rouiller said he disagrees with that approach and says he is predicting the storm will head toward the Gulf of Mexico, home to about one-fifth of all U.S. oil production.

``The threat to the Gulf remains,'' Rouiller said.

Gustav is the seventh named storm of the Atlantic hurricane season, which runs from June 1 through Nov. 30. The National Oceanic and Atmospheric Administration's forecasters predict 14 to 18 named storms will develop this year.

In the Pacific, Tropical Storm Julio was located about 15 miles south of Santa Rosalia, Mexico, on the Baja California peninsula moving north-northwest at about 14 miles per hour, according to a hurricane center bulletin.

Mexico has issued a tropical storm warning for the east coast of Baja California and for the Mexican mainland.; 8/25/2008 3:23 PM
Anonymous said...: FWIW, Front page NY Times article about booming drilling for
NG.

HOUSTON — American natural gas production is rising at a clip not seen in half a century, pushing down prices of the fuel and reversing conventional wisdom that domestic gas fields were in irreversible decline.

The new drilling boom uses advanced technology to release gas trapped in huge shale beds found throughout North America — gas long believed to be out of reach. Natural gas is the cleanest fossil fuel, releasing less of the emissions that cause global warming than coal or oil.

Rising production of natural gas has significant long-range implications for American consumers and businesses. A sustained increase in gas supplies over the next decade could slow the rise of utility bills, obviate the need to import gas and make energy-intensive industries more competitive.

While the recent production increase is indisputable, not everyone is convinced the additional supplies can last for decades. “The jury is still out how big shale is going to be,” said Robert Ineson, a natural gas analyst at Cambridge Energy Research Associates, a consulting firm.

Still, many people in the natural-gas industry believe a new era is at hand, and a rising chorus of Wall Street analysts and Congressional lawmakers supports that notion. Competition among companies for rights to the new gas has set off a frenzy of leasing and drilling.

Reading tee Leaves; 8/25/2008 6:05 PM