What Does Obama Have Up His Sleeve And What Will It Mean To Your Investments?

April 1, 2010 - PRLog -- What does Obama have up his sleeve and what will it mean to your investments?  

President Barak Obama's lift on the offshore drilling ban has caused quite the debate on the airwaves.  The issue is partially divided between Democrats who believe that the ban could hurt tourism and fisheries industries and Republicans and oil companies who believe this is a positive move forward and are calling for more urgent moves to allow for drilling in areas which are still off-limits.

The first area eligible for drilling is about 50 miles off the Virginia coast which is estimated to hold 130 million barrels of crude.  Experts are saying that this is not nearly enough to satisfy consumption levels but it could be a step in the right direction to shift the way of thinking in how Americans consume energy.  

Obama states that the recent developments are part of a bigger strategy which would allow for investment in nuclear power plants and future initiatives which would grossly tighten fuel standards for automobiles.

Obama went on to say that this new development “will move us from an economy that runs on fossil fuels and foreign oil to one that relies more on home-grown fuels and clean energy.”
Crude oil is up 1.14 or 1.36% at 84.90.

Top gainers in the Energy sector include GPOR, LNG, CRK, CGV and BAS.

Synthesis Energy Systems, Inc. , builds, own and operates coal gasification plants which use its U-GAS fluidized bed gasification technology which converts low rank coal and coal wastes into higher value energy products.  Synthesis Energy is primarily focused in China.  For the quarter ending December 2009, Synthesis reported total revenue of $2.6 million along with $0.2 of other revenue rising from a sponsorship grant related to lignite testing at its Hai Hua joint venture plant.  Cost of product sales and plant operating expenses were $2.6 million for the quarter ending December 2009, which is an increase of $0.9 million from the prior quarter.  General and administrative expenses were $2.9 million during the quarter ended December 31, 2009, a decrease of $0.2 million from the prior quarter.

Suncor Energy Inc. , is trading in the range of 33.55 to 34.51, up 4.42% or 1.46 @ 34.49.  Suncor reached an agreement where in they will sell certain natural gas properties for a sum of $235 million.  The current production levels on these lands are approximately 20.5 mmcf/d of gas and 540 barrels per day of liquids.  This sale is anticipated to close in the middle of the second quarter pending regulatory approval.  To date, including this sale, Suncor has reached an agreement to dispose of assets worth approximately $1.54 billion.  Suncor Energy is an energy company with its primary focus being crude oil and natural gas in Canada and internationally as well as transporting and refining crude oil and market petroleum and petrochemical products primarily in Canada.  On August 1, 2009, Suncor completed its merger with Petro-Canada.

Marathon Oil Corporation , hit its 52 week-low a year ago today of 25.20 and is now trading in the range of 31.81 to 32.23 with a 52 week-high of 35.71 from last October.  Shares of MRO are up 1.83% at 32.22.  MRO reported on its Any and All Offer Total Consideration for each series per each $1,000 principal amount of notes validly tendered and accepted for payment is based on a reference yield plus a fixed spread.  Purchasers of the Any and All Offer will also receive accrued and unpaid interest.  Marathon Oil Corporation is focused on worldwide exploration of liquid hydrocarbons and natural gas.  

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