Welcome to the Energy and Capital Weekend Edition — our insights from the week in investing and links to our most-read Energy and Capital and sister publication articles.
While the markets continued to rally — the Dow rocketing above 11,350 by the end of the week — one bit of news crossed my desk…
It was bound to happen, whether or not you wanted to believe it.
This week, Secretary of the Interior Ken Salazar laid out the government’s plans for offshore lease sales.
Out of the mix are areas in the Atlantic and Pacific regions, as well as the Eastern Gulf of Mexico.
In other words, don’t expect to see a drop of oil from those areas for at least another decade, if that.
Drilling in the waters of the Beaufort Sea, off the coast of Alaska, is also up in the air. The government is still awaiting studies and meetings to take place before it makes a final decision.
Imagine our lack of surprise after hearing that Obama pulled the plug on these lease areas…
Some of you may remember the uproar earlier this year when the president lifted the drilling moratorium.
Of course, BP rained on that party three weeks later with their historical failure sparked by the explosion of the Deepwater Horizon.
Offshore profits still alive in 2011?
Back in mid-October, I told you about several offshore stocks that have been beaten down since BP’s public relations nightmare in the Gulf of Mexico.
At the time, I suggested that they were certainly worth a second look, at the very least. Ever since, my inbox has been flooded with your trading stories.
Thankfully, many of you took that advice to heart.
Here’s how those same offshore companies have performed over the last few months:
The latest news on the drilling ban is certainly not the end for these drillers — especially now that oil prices have found support above $87 per barrel.
Meanwhile, companies like Petrobras are moving full-steam ahead on developing Brazil’s offshore fields.
Brazilian shipyards won’t have to worry about future work, that’s for sure…
Petrobras recently announced it will spend billions ordering 28 new drilling rigs over the next two to eight years.
Enjoy your weekend,
Editor, Energy and Capital
P.S. Below I’ve included some of the top investment stories to cross my desk this week.
Korea’s Ticking Nuclear Time Bomb: The Real Story Behind Korea’s Nuclear Ambitions Revealed
With North Korea’s latest intentions splashed across the news wires, it’s simply amazing how every mainstream media outlet missed the boat. In his latest video report, Nick Hodge offers investors one small nuclear company that’s ready to break wide open.
Tapping into an Arctic Fortune: A Rare Earth Story for the History Books
After taking control of a $273 billion piece of frozen tundra, this tiny mining outfit wasted no time delivering profits to our readers. However, the cat is nearly out of the bag on this story… Let Ian Cooper explain how you can get the inside track on this mining blockbuster.
My Sleeper Play for 2011: The Eagle Ford Shale Formation
Editor Keith Kohl explains why the Eagle Ford shale is one of the hottest upcoming oil plays in 2011.
The End of the U.S. Dollar: Four Decades of Abuse are Killing the Fiat Currency
Analyst Greg McCoach discusses the fallout after four decades of systematic abuse to the U.S. dollar.
Make a 60% Annual Dividend: Real Estate, the Bargain of Your Lifetime
Editor Christian DeHaemer gives you the numbers, and explains why now is the time to buy a house.
Gold Prices to Rise Through 2010: World Gold Demand to Remain Strong
Analyst Luke Burgess explores the rising global demand for gold and discusses the factors that could set prices on a course to $2,500 an ounce.
Year-End Solar Sale: Your Chance at Cheap Solar Stocks
Editor Nick Hodge passes on the latest in a line of bullish solar catalysts, and shows you which stocks will pack the most punch next year.
Buying the Hate: Two Despised Companies Insiders Are Buying
Editor Chris DeHaemer asks what would a contrarian buy now? His advice: Follow the insiders.
Invest: What are You Waiting For?: Sheep are Worse than Pigs
Editor Nick Hodge offers advice on how to break out of the mundane and start investing with success.
Electric Car Patriots: Will You Participate in this Patriotic Endeavor?
Editor Jeff Siegel explains why supporting the development of electric vehicles is a patriotic endeavor.
Geron’s (NASDAQ: GERN) Fountain of Youth in a Pill: Could TA-65 Reverse Old Age?
Steve Christ takes a look at Geron’s TA-65 and the science behind a brewing biotech battle against old age.
China Scrambles to Secure Resources: Molybdenum Prices May Rise in 2011 as China Cuts Exports
Analyst Luke Burgess discusses China’s new campaign to secure resources of molybdenum, a key component in making high-strength steel.