Jul 08, 2008 10:34 PM GMT
ursamajor saidOK this is a bit of a risk for me to write, so everyone, be fucking cool.
About a decade ago I wanted to buy a tech company. It happened to be owned by the son of a famous oil pirate, who, at the timed, lived in the south.
I went through all the due diligence on this thing, and mostly it was ok.
Then, I made a very good offer for the company (very advanced Identification technology). I got a letter back from the board telling me they wanted $1 Billion (this was maybe 99, Internet bubble, pre Bush, but still a seriously BS reply). All I could do was laugh, and walk away.
Then this son of a very famous oil explorer was ousted for the board for taking improper loans against some water utilities he owned with his very famous dad. Do you get my drift.
For a long time I have said that projected energy supply is entirely a function of the cost of conversion of the raw materials. For example, if you have gas at $4 a gallon the the economics of converting Canadian Shale all become very attractive.
Mr. Pickens is the largest mineral rights owner in Canada for shale, something he has been buying for a long time.
When the shark bites it is not because he is mean, it is because it is in his nature to bite.
Just keep that in mind when you watch this CRAP on television.
With much love for my fellow man,
Terry, Mary, Harry, Fairy