Monday, February 18, 2013

Naming Superstorms

"A reckoning awaits in the largest write-down of assets in history. We rate these companies a strong sell."

After Superstorm Sandy struck New York and New England, Bill McKibben suggested in the Daily News that we should be naming storms after the principal purveyors of climate change.

In that spirit, here is our suggested list for the National Hurricane Center to use in naming storms this coming year:

Abu Dhabi
BP
Chevron
Dubai
ExxonMobil
Fluor
Gazprom
Haliburton
Iraq
J&L Supply
Kuwait
Lukoil
Marathon
Nigeria
Oman
PEMEX
Qatar
Royal Dutch Shell
Statoil
Total
UAE
Venezuela
Welltec
XTO
YPF Repsol
Zenith

And, by the way, if ever there were a good use for Credit Default Swaps, investors could do worse than to short these companies, because their assets, largely oil and gas still under the ground, are works of fiction. That carbon cannot be extracted without killing us all, so a reckoning awaits in the largest write-down of assets in history. While we claim no special expertise in stockbroking, we’d rate these companies a strong SELL. 

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