We've been out of the office for six working days, since we abandoned ship on Friday the 12th in order to prepare for Ike. But what we didn't count on was having to prepare ourselves to survive the financial hurricane on Wall Street that happened last week. The much-touted, free-market form of American capitalism (that we have tried to export all over the world) is under grave assault due to this year's market events--and the federal government's far-reaching response. This mother of all bailouts will cost our children and grandchildren in both their money and in their ability to spend on more worthy causes, such as medical care and R&D and green technologies and the military and God knows what else. It remains to be seen if the response of the Fed, the Treasury and the White House will be approved by Congress, or will be upheld by whoever wins the presidency in November. But more troubling, it is not clear if this whole scheme will work. Meanwhile, for those of us having to make a living on Main Street, it's time to put on those hurricane shutters, store some extra water, non-perishable foods and batteries. Invest in oil and gas stocks and hope the creeks don't rise--but that the energy stocks do. No matter what else is going on, we will still need oil and gas energy, and lots of it, to repair this economy, to recover the American dream, and to move forward. --Leslie Haines, Editor-in-chief, Oil and Gas Investor, lhaines@hartenergy.com
Recommended Reading
USD Partners to Sell Rail Asset as Part of Forbearance Agreement
2024-06-26 - Midstream company USD Partners is selling a Canadian train terminal asset as part of a forbearance agreement to avoid foreclosure or default with its lenders.
Enterprise Products Partners to Grow NGL Export Capacity in Houston
2024-07-30 - Enterprise Products Partners will expand new refrigeration facilities on the ship channel that are slated for operation in 2026.
Wilson: NGLs are America’s Other Energy Export Boom
2024-08-12 - Robust outlook, interested buyers, willing investors—what’s not to like as NGLs have become America's hottest export product?
Bayou Midstream Secures New Equity Commitment from EIV Capital
2024-09-18 - Bayou Midstream II’s commitment from EIV Capital follows Bayou’s predecessor company's successful exit of Bakken infrastructure in 2024 to Bridger Pipeline.
Alaska Approves Plan to Build $56.6MM Pipeline for LNG Imports
2024-07-24 - Natural gas utility Alaska Pipeline Co., an affiliate of Enstar Natural Gas, received approval from the state to build the 16-mile pipeline, which will be connected to a terminal at Port Mackenzie, near Anchorage.