posted on
Jun 17, 2010 08:43PM

Welcome To The Questerre Energy HUB On AGORACOM
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Message: Hey
Welcome home Rocco. Lots of things happening but at the moment I can't seem to take my eyes off of this BP fiasco. It is really sad what has happened in the gulf and BP's response has not been very rewarding. My professional background is environmental clean ups and Brownfield's redevelopment so I do understand what is happening here. But I think there is a silver lining in this situation...sad to say and possibly a greedy thought but could be a reality.
Obama has shut down deep water drilling in the gulf. IMO that means the U.S. will need to supplement approx 3.5 million bpd from either offshore (Saudi) or from additional domestic reserves. At the moment it appears that the glut in the middle east will attract the U.S. dollars due to the currently low pricing of oil...but with the Obama administaration one we can see that there is real additional interest in domestic areas such as the Bakken and Alberta's oil sands projects. IMO and I think this unfortunate situation provides the opportunity; it would be in the best interest of the Americans to ramp up their attempts to turn the country onto NG. This in turn IMO would have a positive affect on the SP of NG and obviously make QEC as well as other plays more attractive. We have seen both the Americans and French bigs pick up NG plays in the past year so it maybe a very good time for others to follow suit. Just my opinion but something worth following. Also, if BP survives their liabilities on the gulf clean up then they may want to demonstrate to the Americans as well as the rest of the world their commitment to Corporate Responsibility in this matter and what better way than to buy a NG play and push onshore resources that are much cleaner and better for the environment...maybe not a Canadian one but the Marcellus would give them some credibility in the eyes of Obama and company. Just my thoughts as I wait for news about SPQ and the ROF.
Best of luck to the QEC holders. cheers, Foghorn
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