Stocks and Sectors

Michael Fitzsimmons submits:

The United States uses ~25% of the world’s oil and imports ~65% of it. The economic, environmental, and national security issues arising from this dependence on foreign oil are obvious. The chart below summarizes American wealth transferred overseas to purchase the oil it must have.

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Zacks.com submits:

Following yesterday’s shareholders’ approval, Denbury Resources Inc. (DNR) has completed the merger with Encore Acquisition Company and entered into a new $1.6 billion credit facility as well. In addition, Denbury will assume Encore’s position as obligator on the remainder of all Encore senior subordinated notes.

Denbury issued approximately 134.4 million of its shares and paid about $829.4 million in cash to Encore shareholders. Denbury and Encore stockholders own 66.1% and 33.9%, respectively, of the combined company.

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Zacks.com submits:

At a meeting with financial analysts in New York , U.S. energy behemoth Chevron Corp. (CVX) unveiled its business strategy. In particular, the company outlined plans to restructure its struggling downstream (refinery, marketing, and transportation) operation that has seen mounting losses due to weak demand for fuel. Chevron will now focus on growth in Asian markets and in its gas business.

The company confirmed its 2010 capital expenditure budget of $21.6 billion, 2.7% lower than a year ago. In an effort to improve efficiency and simplify the organization, Chevron is aiming to cut refinery capital expenditures by 23% this year.

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Greentech Media submits:

Sleep saved Starwood Hotels and Resorts (HOT) $350,000 in 2009.

The company initiated a program in 2007 to put employee PCs into sleep mode after an hour of inactivity, according to Mark McBeth, Vice President IT, North America for Starwood. IT managers often come up with these sorts of programs, but the goals can get sidetracked when employees reset their computers. (The system also does an early sleep on desktop monitors.)

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Greentech Media submits:

by Stephen Munro

Regulators and utilities in North Carolina agree that more information needs to be shared about smart-grid deployment in the state, but they’re not yet in sync on what information that should be.

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Hard Assets Investor submits:

By Brad Zigler

This morning, the U.S. Energy Department reported domestic oil inventories rose for the seventh consecutive week. Playing catch-up with the government’s figures, the industry-supported American Petroleum Institute had called for a 6.5-million-barrel jump, while sell-side analysts forecast a 1.6-million- to 2.0-million-barrel build. Actual crude oil inventories were reported to have risen by 1.4 million barrels.

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Brendan Wagner submits:

The Terminator Governator shares a truly profound insightas to why California’s non-partisan Legislative Analyst’s Office is wrong in their conclusion that the state’s greenhouse gas emissions bill will destroy jobs.

"I travel up and down the state, unlike others that only have theoretical opinions," the governor said. "I see firsthand … that all kinds of (green industry) places want to expand, all we have to do is give them the incentives, the tax incentives and the job creation packages. I know that AB 32 will create jobs."

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Research Recap submits:

Standard & Poor’s Ratings Services today took several negative rating actions on oil refiners following an industry review.

Excerpts from Ratings On Several Oil Refiners Placed On CreditWatch Negative After Industry Review (Premium)

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Ockham Research submits:

“…Now, after that is Exxon, off 2.1% since the year began. This petro-giant is totally problematic. No great yield. Nothing new until the XTO, that natural gas deal closes and it hasn’t budged as oil has run to $80 a barrel. I don’t see it helps us out at all. I think Exxon will be lucky to creep to $70. That’s only up three from here. No more than that. Kind of a boat rowed gently up the stream.

Then there’s Chevron. Off 3.5% for the year. My charitable trust has become a seller of chevron, but merely scaling out as the company said many good things today at the analyst meeting. I am not fretting. In fact, I think this $74 and change stock can row its way to $80 perhaps with a leisurely portage now and then.” — CNBC’s Mad Money 3/9/2010

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Karl Smith submits:

by Adam Ozimek

The size of European and Asian country’s green energy industries and the generous government subsidies and industrial policy they thrive on is looked at jealously by many American commentators who wonder “why not us?”.

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