Range Resources Share Discussion Threads

[lewisyfawr] 27/5/2019 11:15

Labour told people to vote Remain in 2016, as did the Tories. People in traditional Labour areas took no notice of what Labour said and voted to give smarmy Cameron a thump on the nose.

And they often have voted Brexit in these EU elections as a protest vote that Tories and Labour cannot organise a Brexit that is reasonably acceptable and can command more than 316 votes in Commons. How many votes do Labour plus Tories plus DUP command? Probably about 500!!!

If we have to have a snap General Election in the Autumn, my view is that it will be the end of the two major parties who have dominated British politics for a century almost - Labour and Tories. The election will give voters 3 clear choices - vote for Brexit, vote for Libs/Green/SNP/Plaid (Remain) or waste your vote. And a second referendum would also give voters the same choices basically. It will be very difficult for Labour and Tories to recover from 3 years of arguing and wasted opportunities.

[skinwalker] 27/5/2019 10:51

Personally manos, I don't think the referendum was particularly democratic.
No-one on either side knew what they were voting for. Everyone was at best poorly-informed, many just plain wrong. We had been lied to by the proponents on both sides.

Our democracy is based on General Elections, not referendums. The strength of our General Election based democracy is that we can all change our minds and vote them out next time.

I sympathise with your frustration with the Labour party - they are weak and rudderless at present, but that is absolutely no reason to turn our backs on our nearest and dearest trading partners just across the straits of Dover.

[1manos] 27/5/2019 10:05

People of the north east as in South Wales
Labour aren't representing us anymore they are so out of touch,
My family is steeped in trade unions and the Labour Party
But we all voted brexit
England and Wales voted leave for gods sake for better or worse
Democracy said leave

[lewisyfawr] 27/5/2019 09:51

Hi skin. Don't know why Wales has such a big Brexit vote (think it was 53% in 2016, although just over 30% this time). Huge increase for Plaid, Libs and Greens - all 100% remain and want to immediately revoke Article 50.

Think 2016 result may have been influenced by 1. historical hatred of Tories (eg Churchill and Thatcher particularly). And Tories were campaigning strongly for Remain in 2016. 2. Fear of losing jobs if continued free movement across EU - as jobs are usually badly paid and very precarious in many areas of Wales.

I noticed last year on a holiday in Cork and Waterford that the Republic of Ireland has many Eastern Europeans working there and assimilating into the Irish culture and communities quite well. And Ireland received loads of European funding initially but are now quite a wealthy country and, I believe, a net contributor to EU. Any country that discourages an acceptable level of immigration is really doomed in the western world - as it is young people that pay taxes, fund the state pensions and NHS for the older generation.

[dodge_city] 27/5/2019 09:21

Good to see the more serious players like Le Pen, Salvini and the mighty AfD do well.

Just wait until the economies start going south then you will see real change.

[lewisyfawr] 27/5/2019 08:56

Brexit? Ron, I prefer analysis this morning. 52% of UK voted for Brexit in 2016 (a small majority). In these EU elections, only 36% (UKIP + Brexit Party) voted for Brexit (a large minority), 64% voted for Remain or a second referendum (a large majority).

Emily Thornberry called for Labour to go firm as a "Remain Party" yesterday, and suspect wind is blowing firmly now in that direction. We can hardly leave EU, when Scotland and London have both very clearly voted to revoke Article 50. Why Wales continues to sit on fence troubles me. We have been a net receiver as we are one of the poorest countries in Europe, and we remain desperate for European funds to build up our shattered industrial communities. What will happen to jobs in agriculture, fishing, steel if Wales has to beg assistance from Westminster rather than Brussels?

Cannot see any replies to any questions, Ron. What about telling us what musical instruments you play - either for fun or in a semi-professional capacity. No skin, you are right. Celtic is not to be compared to Ginger Baker or Ringo Starr, but he is still very entertaining and very good.

[rangenoresources] 27/5/2019 08:31

$50 a barrel for WTI incoming. What is not to like?

Oil had its worst week of the year, and the plunge in prices have renewed concerns about the global economy, oil demand and a stubborn crude oil surplus.

Oil fell along with everything else, as the gravity of the escalating U.S.-China trade war began to sink in.

But there are cracks specific to the oil market that are becoming increasingly visible. On Wednesday, the EIA reported a surprise jump in crude oil and gasoline inventories, while production also increased. “The latest Energy Information Administration (EIA) data is extremely bearish,” Standard Chartered wrote in a note to clients.

The investment bank has its own propriety “bull-bear index,” which offers a gauge on oil market sentiment and direction. The index read -100 this week, which indicates “the weakest data in the past six years.” The main reason why the EIA data was so negative was because inventories rose in all categories except residual fuel oil, resulting in a combined increase of 16.33 million barrels, Standard Chartered explained.

Why such a negative result? “[The latest release does raise the question as to whether (as in 2008-09) the extreme reading reflects an economy close to or past a tipping point, or if it reflects an oversupplied global market, or if it is simply down to data quality,” Standard Chartered wrote. “It is too early to be conclusive, but we think the latest data is so extreme as to raise issues in all three categories.”

Adding to the meltdown was likely a shift out of net-long positions by speculators. “This is a very flows-driven market right now,” Scott Shelton, a broker at ICAP PLC, told the Wall Street Journal. After a series of supply outages and tension in the Middle East, oil failed to break higher, likely leading to a shift in sentiment. “You just threw everything bullish you basically could at the market, and nothing happened.”

The chief executive of ConocoPhillips framed the turmoil as the latest bust in a boom-bust cycle. “If we see $80 we kind of tell people: Be prepared, you might see $40 or $50 on the back end,” Conoco’s Ryan Lance told the Association of International Petroleum Negotiators, according to Bloomberg. “Cycles are getting shorter, the peaks and troughs are getting significant.”

But the fear is that the global economy is starting to deteriorate, which would drag down demand. Bloomberg reports that China’s teapot refiners are cutting back on processing as they suffer from a growing glut of gasoline. The buildup in inventories is likely the result of flagging demand, perhaps a sign that the trade war is hitting the Chinese economy.

The U.S. economy has held up better. GDP grew strongly in the first quarter and unemployment is at historic lows. But plenty of cracks are visible. Farmers are in crisis, with debt ballooning and prices for soybeans and corn at multi-year lows. Manufacturing data in May shows some of the weakest data in a decade.
Related: How Trump And Xi Killed The Oil Rally

In a speech this week, U.S. Federal Reserve Chair Jerome Powell expressed concerns about rising corporate debt. “[I]f a downturn were to arrive unexpectedly, some firms would face challenges. Not only is the volume of debt high, but recent growth has also been concentrated in the riskier forms of debt,” Powell said. He also said there are parallels to the subprime mortgage crisis from the 2000s although he went to lengths to argue why the current economy is stronger than it was a decade ago.

Nevertheless, weaker economic growth would almost certainly lead to lower crude oil demand. The IEA said this month that global oil demand grew by 640,000 bpd in the first quarter year-on-year, a sharp downward revision from its previous estimate of a 1-million-barrel-per-day increase. The lower-than-expected growth rate translated into a 0.7 mb/d surplus in the first quarter, a larger glut than expected.

The IEA only slightly lowered its full-year demand forecast, arguing that demand should pick up in the second half of the year. However, all of that now seems questionable, given the escalating trade war and the global selloff in equities, and clear signs of a slowdown.

[aseyho] 27/5/2019 07:49

In fact someone email her and ask when the next one will be and if none why not. Be good to see some nonsense from her, not seen any in a while.

[aseyho] 27/5/2019 07:48

It was stated a while back by Eva that the Q&A had essentially been shelved, hence none for many a month.

Feel free to ask her yourself as the posts about it must have been a while back now.

Q&a is nothing but a hassle for rrl, they don't care for shareholder relations as is fairly obvious.

[lewisyfawr] 27/5/2019 07:44

Good post late last night, Celtic.

Good morning to you. Good morning sugar. Good morning all on this sunny (so far) Bank Holiday.

EU election results look very interesting. Brexit Party (Farage) seem to have collected the most seats and over 30% of vote in England and Wales. Just as I thought, the second party (usually a Remain Party) is Lib Dems in England, and Plaid Cymru in Wales. Scotland is significant, with SNP getting significantly more votes than Brexit. Greens did exceptionally well across whole of Europe, and even did well in UK.

Oil hovering around $59 - bit of a drubbing late last week, but steadied. Next results due end of July, and hopefully review, due diligence etc will be well completed by then. And perhaps an update for shareholders in our regular Q&A's would be nice.

[aseyho] 27/5/2019 06:55

Still suspended.

Is this suspension still on the pretence of due diligence on a non controlling Chinese educational investment.

They are stretching this out are they not, one might presume motives we have been kept in the dark for.

When's the next quarterlies due?

If suspended, I presume they still have the same regulatory stipulations about releasing market sensitive news?

[skinwalker] 27/5/2019 01:16

Controversy and discord stick to you like glue celtic. Hopefully though, you can clear one thing up?
When you said you've been playing music in Spain, I presume you were telling us that you'd taken your pocket transistor radio with you?

[1manos] 26/5/2019 19:25

Hahahaha kenqantasrobot all posting from whales dohhhhh

[qantas] 26/5/2019 17:34

Private Equity Scrambles To Buy Assets In This Emerging Oil & Gas Hotspot

Please do your own research as always.

[rangenoresources] 26/5/2019 10:36

I wish the ego could put a sentence together we could all understand.

[celticheart07] 26/5/2019 10:35

Lies upon lies, believe me if you and I had met you would remember.