What the “Steak Bandit” Says About Asset Values

by | published July 29th, 2014

Just stay with me here. This is a story about energy – especially oil.

It begins last Saturday. On a trip to the local supermarket, I saw something you just don’t see every day.

You see, I always do the grocery run. It is one of several clauses that have appeared over time in my marriage contract (no doubt about it, this is one document you need to read before signing!).

As I left the store, a crowd had formed outside. There were police all around and the parking lot had been sealed shut.

It turns out a fellow had shoved some steaks down his pants and made a dash for it.

By the time all of us had stretched our necks to see what was going on, the suspect was just sitting… in a car that wouldn’t start… with the doors locked… and the windows up… in 90-degree heat.

All in all, he couldn’t have been having a very good day.

Maybe he was that hungry. Or maybe he forgot his wallet at home and was late for a party. I’m not sure.

Either way, he was bound for the Allegheny County Jail.

(By the way, the jail is the impressive newer-looking building by the Monongahela River in downtown Pittsburgh. You can’t miss it. It looks like an upscale Holiday Inn.)

But I digress; back to the steaks.

Even though I must admit, for awhile at least, there will be a question in the back of my mind every time I go to a barbecue. Like, “Any idea where that meat has been recently?”

However, aside from a possible commentary on the plight of some people in the current economy, the episode with the “steak bandit” brought back a memory, along with a broader implication for the energy sector.

Here’s the memory and how it relates to energy…

How Russian Sanctions Will Impact Economy

by | published July 28th, 2014

Kent Moors Iraq OilThe European Union is prepared to place sanctions on Russia, based on Russia’s actions in the Ukraine, and many are wondering about the economic impact of the sanctions.

Dr. Kent Moors joined CCTV last night (Thursday) and discussed why these Russian sanctions by the EU may not have a huge impact on the Russian economy short term.

However, the Russian sanctions could have a major long-term effect, particularly on Russia’s energy sector…

To watch the full interview, click here.