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I admit that trying to make profits on people that have lost their homes is bad; however this is the stock market and this company deals with cleaning up and restoration after disasters. Some companies profit from natural disasters, our job is to find which ones profit.
There are many historical buildings in this area as well that may need to be restored if there is anything left of New Orleans. God be with those who may be riding this one out.
NNNC or NNNCE is the stock that I am referring to.
Feel Free to name any stocks that may rise in this situation.
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be in the oil and gas stocks at open.One great thing about AMEP is this....the hurricane will bring the much needed water to open the next 5 wells but also the hurricane already effected any offshore drilling units,AMEP is all on shore well northwest of hurricane path.Any oil stock drilling in the Barnett zone will be well looked at!
08:36 PM Katrina cuts oil output by a third
HOUSTON (Reuters) - U.S. energy companies said U.S. Gulf of Mexico crude oil output was cut by more than one-third on Saturday as Hurricane Katrina appeared poised to charge through central production areas toward New Orleans.
The Gulf of Mexico is home to roughly a quarter of U.S. domestic oil and gas output, with a capacity to produce about 1.5 million barrels per day of crude and 12.3 billion cubic feet per day of gas.
As of Saturday, 563,000 barrels daily crude output had been shut in due to the threatening storm.
Shell Oil Co., which was evacuating all 1,019 of its offshore workers in the central and eastern Gulf on Saturday, had the bulk of closed Gulf daily oil production, with 420,000 barrels turned off.
Shell also said 1.345 billion cubic feet per day, or Bfd, of natural gas had been shut by Saturday.
Total daily Gulf natural gas output shut on Saturday was 1.9 billion cubic feet.
But the storm's long drift westward Friday afternoon and evening meant it was gaining intensity from deep, warm Gulf waters and would not turn north in time to avoid production areas.
Hurricane threatens Gulf oil production Katrina could strengthen to devastating Category 5 storm
WASHINGTON (MarketWatch) - Hurricane Katrina strengthened Saturday and set a course directly for major oil and gas production fields in the Gulf of Mexico and New Orleans.
Hurricane Katrina aimed at Gulf oil and gas fields Housing boom will 'simmer down,' Greenspan says KPMG settles tax-shelter charge for $456M, reports say Rubin says new Fed chair could face early stress test Fed to stop rate hikes at 4%, Citigroup economist says
The National Hurricane Center now expects the year's fourth hurricane to make a second landfall near the major oil and gas hub at Port Fourchon, La., sometime early Monday, and then continue inland to New Orleans, which could be devastated by a direct hit by a major storm. Read more from NHC.
The average elevation of New Orleans is 6 feet below sea level.
Katrina could strengthen to a Category 4 or possibly a Category 5 storm before making landfall, said NHC forecaster Jack Beven.
Only three Category 5 Atlantic storms have reached the U.S. mainland in the past 150 years. Category 4 storms have winds of more than 130 miles an hour, while Category 5 storms have winds of more than 155 miles an hour.
Gulf oil producers were evacuating oil rigs and platforms. Onshore oil service facilities were preparing to evacuate.
quote:Originally posted by QuestSolver: be in the oil and gas stocks at open.One great thing about AMEP is this....the hurricane will bring the much needed water to open the next 5 wells but also the hurricane already effected any offshore drilling units,AMEP is all on shore well northwest of hurricane path.Any oil stock drilling in the Barnett zone will be well looked at!
08:36 PM Katrina cuts oil output by a third
HOUSTON (Reuters) - U.S. energy companies said U.S. Gulf of Mexico crude oil output was cut by more than one-third on Saturday as Hurricane Katrina appeared poised to charge through central production areas toward New Orleans.
The Gulf of Mexico is home to roughly a quarter of U.S. domestic oil and gas output, with a capacity to produce about 1.5 million barrels per day of crude and 12.3 billion cubic feet per day of gas.
As of Saturday, 563,000 barrels daily crude output had been shut in due to the threatening storm.
Shell Oil Co., which was evacuating all 1,019 of its offshore workers in the central and eastern Gulf on Saturday, had the bulk of closed Gulf daily oil production, with 420,000 barrels turned off.
Shell also said 1.345 billion cubic feet per day, or Bfd, of natural gas had been shut by Saturday.
Total daily Gulf natural gas output shut on Saturday was 1.9 billion cubic feet.
But the storm's long drift westward Friday afternoon and evening meant it was gaining intensity from deep, warm Gulf waters and would not turn north in time to avoid production areas.
Hurricane threatens Gulf oil production Katrina could strengthen to devastating Category 5 storm
WASHINGTON (MarketWatch) - Hurricane Katrina strengthened Saturday and set a course directly for major oil and gas production fields in the Gulf of Mexico and New Orleans.
Hurricane Katrina aimed at Gulf oil and gas fields Housing boom will 'simmer down,' Greenspan says KPMG settles tax-shelter charge for $456M, reports say Rubin says new Fed chair could face early stress test Fed to stop rate hikes at 4%, Citigroup economist says
The National Hurricane Center now expects the year's fourth hurricane to make a second landfall near the major oil and gas hub at Port Fourchon, La., sometime early Monday, and then continue inland to New Orleans, which could be devastated by a direct hit by a major storm. Read more from NHC.
The average elevation of New Orleans is 6 feet below sea level.
Katrina could strengthen to a Category 4 or possibly a Category 5 storm before making landfall, said NHC forecaster Jack Beven.
Only three Category 5 Atlantic storms have reached the U.S. mainland in the past 150 years. Category 4 storms have winds of more than 130 miles an hour, while Category 5 storms have winds of more than 155 miles an hour.
Gulf oil producers were evacuating oil rigs and platforms. Onshore oil service facilities were preparing to evacuate.
The average feet below sea level of New Orleans is actually 12'.
quote:Originally posted by gmh37: pensand....... I hope many people will do that, because many , many people need help again when it's over great Idea
gmh37
Welcome Back gmh!! I haven't seen you in ages it seems on Allstocks. I pray that all remaining in the hurricane battering area will survive the upcoming destruction.
posted
Hurricane Betsy(decades ago), which was nothing compared to the destruction coming from Katrina which will set a precedent to all previous hurricanes that have hit Louisianna. The city is reported to be between 8-12 feet below sea level.
posted
God Bless everyone in Harm's Way in the Gulf! It looks like we REALLY escaped a catastrophic MONSTER in So. Fl. the other day. Katrina is a Cat. 5 and could kill 1000's of people tonight/tomorrow. I sure hope they're smart enough to take heed and leave the area.....
Also - stay away from RNVO - they CLAIM to be a great disaster restoration company......Truth is they are nothing but a 1 man used car lot in Orlando. His PR's are filled with more lies than Andrea Cortellazzi's (CDVJ, BTXI and CSJJ)
Good Luck to all and GOdspeed..... Steve
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I sure hope the Superdome doesn't collapse - all those poor people trying to squeeze in.....
And what will happen to the elderly and disabled, and the people in hospitals and nursing homes...... I don't want to even think about it....
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Superdome only holds 70,000 - I'm sure they're going to squeeze everyone in.... Maybe 100,000 - 200,000 in the hallways, stairways, etc., because what are they going to do? Turn them away at the door to die? No way.
I'm just as afraid of all the extra weight - compounded by the excess swaying it will get.
You know - the airlines always fly all the planes out of an area that's supposed to get hit - too bad they couldn't have loaded them with people. I KNOW they would have had hassles where they landed - and getting back would be a problem - but it's better than dead......
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love the market, Dead is very cold word. But my friend, dead is a word we will live with for many weeks to come..
Your concern about patients, prescriptions, Hospitals is imo genuine and shows the begining of people wanting to at least voice they're concerns about the tradgedy coming to so many.
We will trade our stocks tomorrow, and some will win, and others will lose.
BUT, we must remember the millions of people who will have they're lives changed for ever.
please people!!! take a little off the table for the American Red Cross...
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I saw a lot of people putting up plywood. They had to buy it somewhere. How about Home Depot or Lowes?
Think about what would be bought or used most. Batteries? Generators? Bottles of Water?
How about insurance companies?
Soy Bean Stocks.
Oil will be up before the opening bell. Near $70. Up 5%. Gas prices will follow. Fill up your tanks now because we won't see these prices for a long time.
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There saying it could take as long as 3 months to get the what could be 20-30' flood waters back out of New Orleans! The storm is moving a bit west which they say will increase the storm serge on New Orleans! Good luck to those who have to live through this pending disaster!
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look at oil and gas stocks and also telecom stocks not to mention building supplies.
AMEP
Oil, Natural Gas Rise After Katrina Damages U.S. Gulf Platforms Aug. 30 (Bloomberg) -- Crude oil and natural gas climbed after Hurricane Katrina damaged platforms and ports and curtailed production at refineries as it slammed the Gulf of Mexico coast, the source of almost a third of U.S. oil output.
Royal Dutch Shell Plc said its 220,000 barrel-a-day Mars platform, which is able to pump as much as 15 percent of U.S. Gulf output, suffered damage. Katrina, which killed at least 54 people, shut 92 percent of U.S. Gulf crude production and eight refineries. President George W. Bush may tap the U.S. strategic petroleum reserve to help producers compensate for disruptions.
``The worst case scenario is pretty bad,'' said Seth Kleinman, an analyst at PFC Energy in Washington. ``You have power outages that could severely impact refining. The problem is on the product side. There is little that can be done about that, particularly gasoline.''
Crude oil for October delivery rose $1.50, or 2.2 percent, to $68.70 a barrel on the New York Mercantile Exchange at 1:34 p.m. London time. Oil, which reached a record $70.80 yesterday as the storm approached, has jumped 63 percent from a year ago.
``It wouldn't surprise me if we're back at $70 by the end of this week,'' said Kleinman. ``I think that we're headed toward $80 by the end of the year.''
The closest-to-delivery contract of U.S. natural gas, which yesterday reached a record $12.07 per million British thermal units on Nymex, today surged 6.8 percent to $11.900.
Damage Assessment
The disruptions may make it harder for refiners to boost stockpiles of winter fuels in preparation for a fourth-quarter peak in oil demand. Processing plants are also stretching to produce enough gasoline as record prices at the pump in the U.S. do little to restrain consumption of the fuel.
``The U.S. refinery system has been showing signs of severe tightness,'' Kevin Norrish, an analyst at Barclays Capital in London, wrote in an e-mailed report. ``The shut-in of refining capacity from Katrina is then not so much a straw, but rather a large log on top of an already fully laden camel.''
Chevron Corp. Chief Executive David O'Reilly said in Jakarta today that it's too early to evaluate the impact of the storm on operations in the Gulf of Mexico. The company will make a preliminary assessment of damage from the hurricane tomorrow.
``Any disruption that occurs, whatever it is, has a multiplier impact on the price,'' O'Reilly said. ``The issue that is facing us around the globe is the balance between supply and demand is becoming tighter.''
`Emergency' Situation
U.S. production in the Gulf of Mexico is usually about 1.5 million barrels a day, according to the country's Minerals Management Service. Adding the 3.5 million barrels a day Mexico pumps in the region brings the total to 5 million barrels a day, or about 6 percent of global output.
Last year, oil prices gained 22 percent in the month after Hurricane Ivan damaged oil rigs, ripped up undersea pipelines and blocked with silt the ports oil companies use to supply and maintain facilities in the Gulf.
Katrina, the strongest Atlantic storm this year, forced the shutdown of refineries with a combined crude-oil processing capacity of about 1.79 million barrels a day, or 10.5 percent of total U.S. capacity.
``This could be defined as an emergency,'' said Tor Kartevold, an oil analyst at Statoil ASA, Norway's biggest oil company, in Stavanger. ``It's quite important that refiners'' now make more winter fuels. ``Under normal circumstances, it takes one or two weeks to restart plants. If there's damage, it can take much longer.''
OPEC Response
The Organization of Petroleum Exporting Countries, the source of more than a third of the world's oil, is pumping near capacity and may agree to raise its production quota when it meets next month, the group's secretary general, Adnan Shihab-Eldin, said today.
Saudi Arabia, which as OPEC's biggest producer holds the most spare capacity, is ready to increase crude output to 11 million barrels a day, the country's Oil Minister, Ali al-Naimi, said yesterday. It pumped about 9.6 million a day in July, according to data compiled by Bloomberg.
``Knowing how long refinery capacity is going to be out will be determinant to see whether enough oil products will reach the streets,'' said Hakan Kocayusufpasaoglu, a commodities and derivatives trader with ABN Amro in London. ``OPEC is definitely going to try to pump out more'' crude.
Strategic Buffer
Brent crude for October settlement added $1.98, or 3.1 percent, to $66.85 a barrel on London's International Petroleum Exchange, which was closed yesterday for a U.K. holiday.
U.S. congressional Republicans said the government should release oil from the strategic reserve while energy producers recover from damage caused by the storm. The Administration loaned 5.4 million barrels of crude oil to refiners whose supplies were disrupted by Hurricane Ivan.
``With damage to crude production, releasing oil from the strategic reserve would be a real buffer and could alleviate the situation,'' Statoil's Kartevold said.
Bush ordered the reserve filled to its 700 million-barrel capacity after the attacks of Sept. 11. He has rejected calls from Democrats and some analysts to use the reserve, which can meet all U.S. needs for more than a month, to try and lower record oil and gasoline prices.
``The only way to re-balance the system is if demand falls and there are no signs that is happening yet,'' ABN Amro's Kocayusufpasaoglu said. ``There won't be more supply coming on before oil companies make major investments.''
Gasoline Prices
Gasoline futures yesterday reached $2.1606 a gallon, the highest intraday price since trading began on Nymex in 1984. Prices today gained 5.79 cents, or 2.8 percent, to $2.1185.
The average price for regular-grade gasoline climbed to a record $2.614 a gallon on Aug. 19, according to the AAA, formerly the American Automobile Association. It averaged $2.604 a gallon yesterday.
The Louisiana Offshore Oil Port, the biggest U.S. oil import terminal, stopped unloading tankers on Aug. 28 as Katrina approached. The LOOP is 20 miles off the coast and handles about 1 million barrels of crude oil a day, or 11 percent of U.S. imports.
The storm, which has been downgraded to a tropical storm, shut 8.3 billion cubic feet of natural-gas output, equivalent to 83 percent of the total amount of gas produced in the Gulf. The report by the minerals service, which is part of the Interior Department, reflects information provided by 57 companies as of yesterday.
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PDGE has been doing very well the past two days.
PDG Environmental Acquires Flagship Services Group of Arlington, Texas; Combined Revenues to Reach $70-80 Million Range
By BusinessWire Last Update: 8/29/2005 11:46:01 AM Data provided by
PITTSBURGH, Aug 29, 2005 (BUSINESS WIRE) -- PDG Environmental, Inc. (PDGE) announced today that it has acquired the assets and operations of Flagship Services Group, a recognized leader in both large and specialty loss repair and reconstruction. Flagship's expertise includes the repair and reconstruction of damage caused by wind storms, fires, and floods as well as mold remediation. For additional information on the company, please visit www.flagship-services.com. The terms of the transaction were not disclosed.
For the year ended 12/31/04, Flagship had unaudited revenues of $19.4 million and adjusted pre-tax profit of $2.2 million. For the 7 months ended July 31, 2005, unaudited revenues were $17.8 million with a pre-tax profit of $2.3 million. Current backlog for Flagship is in excess of $5.5 million, creating a combined backlog in excess of $40 million.
John C. Regan, Chairman and CEO of PDG Environmental, commented, "We're extremely pleased to have completed this acquisition, which was announced by letter of intent in January 2005. Flagship is a profitable, high-quality, well-established firm with an excellent reputation in the industry, serving a large customer base. The highly experienced management and staff currently in place, including Roy Petersen who founded Flagship in 1987, will remain with the Company."
Mr. Regan continued, "This is a major step forward in the long-range strategic acquisition and diversification plan of PDGE. Flagship's proven success and ability in reconstruction services provide significant synergies and complement PDGE's proven ability to respond and perform emergency mitigation for large, area-wide disasters as well as more routine restoration and mold remediation services."
PDG Environmental is a national specialty contractor providing asbestos abatement, mold remediation, disaster restoration, demolition and related services to its commercial, industrial and governmental clients nationwide. Regional marketing and project operations are conducted through branch offices located in Pittsburgh, Philadelphia, New York, Charlotte, Ft. Lauderdale, Tampa, Pensacola, Houston, Dallas, Phoenix, Los Angeles, Bakersfield, Las Vegas, Portland, and Seattle. For additional information on the company please visit, www.pdge.com. And for more information on mold and its effect on indoor air quality, please visit http://www.epa.gov/iaq/molds/index.html.
Safe Harbor Statement under Private Securities Act of 1995: The statements contained in this release, which are not historical facts, may be deemed to contain forward-looking statements, including, but not limited to, deployment of new services, growth of customer base, and growth of service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Deviation may result from risk and uncertainties, including, without limitation, the Company's dependence on third parties, market conditions for the sale of services, availability of capital, operational risks on contracts, and other risks and uncertainties. The Company disclaims any obligation to update information contained in any forward-looking statement.
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