Macro Oil and Stimulus

Horizontal drilling changing the game:  “The global oil market looks very bearish…The exploration and production guys now are saying $4.50 (natural gas) is a good number.”  Oil and Gas Journal with a hat tip to Million Dollar Way

Full cost and successful efforts accounting in the oil patch.  I sure expected to see much more depth in this article at the WSJ.  (To read the full article you will need to google the title and click through.)

“Saudi Arabia has overtaken Russia as the world’s biggest producer of oil for the first time in six years as the kingdom tries to compensate for declining Iranian exports and attempts to push crude prices lower.”  The National

“Asian markets were mostly in positive territory early on Monday, which was widely attributed to comments by Chinese premier Wen Jiabao on Sunday, emphasising the need for more support amid signs that growth is sputtering.”  This is, of course, the catalyst the materials sector needs.  FT Alphaville  Or won’t the Stimulus help?  FT Alphaville

Waiting for QE3 stateside:  Chris Puplava