Markets:
DJIA --177.260.57%
NASDAQ --114.140.87%
S&P --27.290.72%
Featured Stocks:
MAXR +4.49% 48.65
BNED -4.15% 5.31
WMT -1.59% 144.64
KBH +1.33% 35.76

oil profits

  • Featured Story

    Mark Your Calendar: Oil Profits Start Again on February 14

    oil profits

    By , America's No. 1 Pattern Trader, Money Morning • @powerproftrades -

    In fact, it's likely that oil will head even lower than $28 a barrel before it climbs any higher - and that's almost certain to take some time.

    But that doesn't matter to me. I'm not in the business of calling bottoms: I'm in the markets because I love to trade and I love to make money.

    That's why I was so excited to find this oil and energy pattern. It's unlocked the potential of nice profits even with cheap oil.

    Here's what I mean...

Article Index

Mark Your Calendar: Oil Profits Start Again on February 14

By , America's No. 1 Pattern Trader, Money Morning • @powerproftrades -

oil profits

In fact, it's likely that oil will head even lower than $28 a barrel before it climbs any higher - and that's almost certain to take some time.

But that doesn't matter to me. I'm not in the business of calling bottoms: I'm in the markets because I love to trade and I love to make money.

That's why I was so excited to find this oil and energy pattern. It's unlocked the potential of nice profits even with cheap oil.

Here's what I mean...

Congress' Next Bad Idea Would Destroy the Shale Boom

By , Money Morning -

Last week, six Members of Congress, led by Rep. Dennis Kucinich (D-Ohio), introduced the "Gas Price Spike Act."

With concerns over the likelihood of higher gas prices this summer, the bill and its sponsors propose the creation of a "Reasonable Profits Board" that would control the profits of oil and gas companies.

Under the bill, this board - made up of unelected bureaucrats - could apply a "windfall profit tax" on the sale of oil and gas at rates of 50% to 100%. These taxes would take aim at corporate profits that the board feels are "unreasonable" or "unfair."

Congress would then appropriate the money raised to subsidize electric vehicles and mass transit.

Now you may want to take a second and breathe, because this is no satire.

Oh, and the proposed bill offers no specific guidance on how the board would determine what represents a "reasonable profit." How do we even begin to define this term? Are some profits more unreasonable than others? And who decides what is "reasonable?"

Apple Inc. (Nasdaq: AAPL) last week shattered earnings expectations. The electronics company has a profit margin north of 20%; meanwhile, the oil and gas industry has a sector-wide margin a little less than 10%.

And though the price of oil and gas will rise in the future - and despite the name of the bill - a reasonable profits board would do nothing to improve consumers' plights at the pump.

In fact, it would only make things worse for people like you and me.



To continue reading, please click here...