Saturday, August 27, 2011

Talk About Blight! Blimey! Not a Bakken Story

From Carpe Diem: solar energy -- mixing sunlight with tax dollars.

I walked hundreds of hours across the beautiful English countryside in a previous life. This is truly horrendous to see what they've done to their country.
"Hundreds of acres of countryside have been carpeted in solar panels after companies from across the globe flocked to Britain to benefit from a lucrative policy on solar power.  The Feed In Tariff (FIT), launched in April last year. promised those who built solar 'farms' an inflated minimum price for the power generated which is fixed for the next 25 years.  In a rush to beat the deadline which expired earlier this month, a sudden flurry of development has seen around 20 farms spring up, covering at least 200 acres across the country.
Sad. The good news: ten years from now, they will go back to farming.

Meanwhile, I just took a drive around Williams County tonight, and it was a gorgeous night. About every section or so, there is a well or a rig. The actual pads take up very little space, and the land is still  multi-use: oil, farming, recreation. Specifically, I was out at the state park north of the river and east of Williston and the campground was filled with folks enjoying the beautiful evening; the drive out was beautiful.

I note that the land is still multi-use: oil, farming, recreation, because solar farms are not multi-use as one can see at the link. Even wind turbines allow for multi-use in general, farming and wind, although one can question whether wind farms are conducive to recreation/tourism.

For Investors: Schlumberger -- From SeekingAlpha.com

Link here, from SeekingAlpha.com:
I added to my position in Schlumberger (SLB) this morning due to the stock's attractive valuation. I added at $74.28 to $74.48. Readers will recall that I cut my position back in December 2010 at about $82 per share after choosing SLB as my "High Conviction Pick" in May of 2010. The long-term bull case for SLB is:
  • Peak oil
  • Weak USD
  • Emerging markets
I have accumulated SLB over the years.  

Week 34: August 20 -- 26, 2011

EPA ready to shut down one-fifth of nation's coal capacity. Stories I can't make up.

Japan switching to costly fossil fuel.

Nabors man-camp to be increased by 150; now up to 450.

Economic impact of Minnesota's renewable energy mandate.

North Dakota high school students #2 in nation on ACT; "all" ND students take the ACT.

Williston city budget to rise dramatically.

200 active drilling rigs.

Federal govenment to okay killing of whooping cranes.

North Dakota is the new Texas.

The Bakken: 1,000 undrilled permits and 250 permits in queue to be approved.

Continental Resources Drilling Deeper into the Three Forks.

Halliburton to hire 11,000 more North American workers.

CNBC reporting from the Bakken, August 24, 2011.

Historic first: crude oil from the midwest being shipped out of the Tulsa, OK, port.

Greenhouse gas emissions from natural gas significantly lower than those emissions from coal.

Marcellus reserve estimates raised significantly.

Spanish-language training for Hispanic gardeners in Nevada. Stories I can't make up.

Record number of new permits in one day, 18; August 22, 2011.

Chili's Restaurant might open in Williston.

Williston International Airport To Close For Two Weeks in October for Repaving

Link here (regional links break early).
The FAA is wanting a signed grant prior to Sept. 16 and the tentative date for the repave is Oct. 8-15. The airport will be closed during this time. The specific dates could change based on the bid accepted and when that company would be able to complete the work.

Heart of the Bakken: Williston City Budget To Rise Dramatically -- Bakken, North Dakota, USA

Williston budget to increase significantly. A lot of numbers rounded in this post. See link at the Williston Herald.

Last year's budget:
  • Appropriations: $50 million
  • New employees: 7
This year's proposed budget:
  • Appropriations: $65 million
  • New employees: 24
Other data points:
  • $30 million borrowing for infrastructure bond issues
  • Infrastructure requests: $18 million for water; $17 million for sewer
  • How to pay for this: bonding, mill levy increases and/or rate increases on water and sewer
New positions requested:
  • Williston Police Department: 9 new positions (6 officers, 3 dispatchers)
  • Public Works: requesting 8 new positions
  • Auditor's Office: 2
  • Building Department: 2
  • Williston Fire Department: 1
  • Planning and Zoning: 1
  • Economic Development: 1
  • Total employees for Williston if all approved: "140 and three-quarters employees"
  • Record number of Williston employees: 141 back in the early 1980s