Profile For Mike K.

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    9 years ago

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Comments By Mike K.

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Posted:  9 years ago

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Oilfield Lay off

Relax, ride it out for a bit. Big issue right now is simple: the Saudis increased production over the Iran nuke negotiations. Essentially, the Saudis currency traded into a $780b surplus, but even there, it will only last so far. The Iranians most likely will screw it up. The Saudis are fighting a proxy Iranian presence with rebels in Yemen, right on their border.

We can make money at $60/bbl. But investors dont want to wait on return. $75 will put us great guns again. Be patient, and when it does come back, adjjst your lifestyle 20% lower. Young guys go hog wild buyin trinkets and toys. Cant do that in a bust/boom deal like energy.

Good luck!

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