Geological consultant and energy expert, Arthur Berman, has an interview with Oilprice.com with some frightening observations. (Oilprice) The most sobering may be the following: A lot of investors from other parts of the world, particularly the oil-rich parts have been making somewhat high-risk investments in the United States for many years and, for a long…
Morningstar has issued a research note warning investors about the ALPS Alerian MLP ETF (AMLP). (Morningstar) The reason? Hot money is flowing into this ETF because the industry giant, JPMorgan Alerian MLP Index ETN (AMJ), has hit its $5 billion asset limit and stopped creating new units. This means AMJ is now a closed-end fund…
Moody’s has come out with research on Oil and Gas bond covenants and has come to the conclusion that MLPs offer the least investor protection. (Finanzen) “Our review of bonds issued between January 2011 and October 2012 showed that those of US midstream limited partnerships have the worst covenant quality,” says Andrew Brooks, Moody’s Vice…
Clifford Krauss and Eric Lipton continue the excellent New York Times coverage of the shale gas boom and bust. (NYT) There are some fascinating revelations in the article: 1. The drilling companies were forced under contract to keep drilling, even as the price of natural gas collapsed: The land that the natural gas companies had…
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