Despite the sharp deterioration in the macro backdrop in the last few months, ConocoPhillips (

Despite the sharp deterioration in the macro backdrop in the last few months, ConocoPhillips (COP) remains well positioned to navigate the current downturn. We estimate that the company will remain free cash flow positive even in a low oil price environment in 2009, without needing to change significantly its investment plans.ConocoPhillips has significantly strengthened its upstream portfolio over the last few years through its Burlington and LUKOIL transactions, and remains a premier domestic refining player. Recent alliances with the Abu Dhabi National Oil Company (ADNOC), Saudi Aramco, and Australia's Origin Energy are catalysts for the company's future growth.On valuation grounds, the stock is compellingly cheap, particularly following the recent sell-off. Our recommendation is Buy and our target price is $80 per share.Read the full analyst report on COP "COP" Free Stock Analysis: Buy? Sell? Hold?...

The IEA confirms what I've been saying all along: There isn't enough oil supply on the planet to meet demand. And that's not about to change anytime soon. A new oil supply crunch looms as oil companies have put the brakes on sorely needed investment to increase oil production to satisfy future demand and to offset the accelerating declines of today's aging fields. This at a time when opportunities to invest are more constrained than ever. Bullish for oil? You bet. My longer-term target of $200 oil remains intact.   Energy agency warns of supply crunchNovember 12, 2008, LONDON (AP) — The International Energy Agency on Wednesday called for massive investment in producing more oil to prevent a supply squeeze in coming years, saying energy demand will rise 1.6 percent a year on average between 2006 and 2030.The IEA's base scenario for energy demand has fallen due to

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I spent the weekend at the Washington D.C., Money show. The show has shrunk from last year, and the opinions ranged from "this is an incredible time to buy" to "Aaaaaaiiiiiii!!!!!" I'll have more about that in Wednesday's Money and Markets column.This morning, the market is rising on news of a $586 stimulus plan in China and a new A.I.G. bailout in Washington. I'm not sure why the market thinks this is good news. Last time I looked, the Federal Debt had soared to such levels that each American now owes over $32,000. I think that's unsustainable, as long as the US dollar holds its present value.In other words, it would be a lot easier to bear if that debt was only (in relative terms) $3,200. That's not so scary, is it? I wonder if Uncle Sam is thinking the same thing. The Russians

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Like a boxer who has a habit of dropping his hands, America finally caught one on the chin. The U.S. economy is flat on its back, and the financial markets are leaning down into its face yelling out a 10-count. But the U.S. economy isn’t “out for the count” yet. It will struggle back to its feet. But if the economy hopes to stay on its feet, it will have to devise new tactics. The old, sloppy tactics of credit-financed consumption won’t work anymore.

The biggest change in the American economy over the last few decades has been the transition from making things to making loans. We Americans abandoned the manufacturing industries that once powered our economy and devoted ourselves to merely financial activities. We became experts in “financial origami.” Precisely when and why this happened will be something for historians to debate. But sometime in the 1990s, the percentage of

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Houston, Texas-based ConocoPhillips (COP) ranks 3rd in the U.S. and 5th worldwide among the publicly traded energy companies.

ConocoPhillips has significantly strengthened its upstream portfolio over the last few years through its Burlington and LUKOIL transactions and remains a premier domestic refining player. Recent alliances with the Abu Dhabi National Oil Company (ADNOC), Saudi Aramco, and Australia's Origin Energy are catalysts for the company's future growth.

On valuation grounds, the stock is compellingly cheap, particularly following the recent sell-off. We are reiterating our Buy recommendation for the stock ahead of the company's third-quarter results. Our estimates and price objective remain unchanged.

Read the full analyst report on COP

"COP" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research

Western Standard Energy Corp., (OTCBB: WSEG) has hired Tim Turner as vice-president of its Land division. Starting at Exxon in 1980, Turner’s career spans 28 years through upstream oil and gas and business consulting services in Texas, throughout the United States, and internationally. He worked for Exxon Company, in New Orleans, La., and for Phillips Petroleum in Houston, Texas.

For the last 13 years, Turner, a certified Landman, has led the oil industry-consulting firm, Tim Turner & Associates, LLC. Clients there include Gazprom, Pemex, PDVSA and Saudi Aramco, as well as other major, independent and international oil and gas producers.

“We plan to expand the business through joint venture partnerships, developing our vast portfolio of exploration assets in Montana and North Dakota, and through the acquisition of producing assets,” said Dan Bauer, Western Standard president and CEO. “Tim’s knowledge and experience on the business side will prove to be invaluable in that

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Article Source: A potentially huge story from the New York Times. NYT reports: Saudi Arabia, the world's biggest oil exporter, is planning to increase its output next month by about a half-million barrels a day, according to analysts and oil traders who have been briefed by Saudi officials. The increase could bring Saudi output to a production level of 10 million barrels a day, which, if sustained, would be the kingdom's highest ever. The move was seen as a sign that the Saudis are becoming increasingly nervous about both the political and economic effect of high oil prices. In recent weeks, soaring fuel costs have incited demonstrations and protests from Italy to Indonesia. Saudi Arabia is currently pumping 9.45 million barrels a day, which is an increase of about 300,000 barrels from last month. Data source: 2004 through March 2008: EIA; April-June: numbers discussed in NYT article....