Bonanza Creek Energy Inc. has agreed to pay nearly $60 million over five years to lease 5,600 acres of oil and gas rights in Colorado's Weld County. The money will help pay for public education in Colorado. Bonanza Creek has been active in the Greater Wattenberg field for over a decade and has drilled more than 250 wells in the region.Something tells me the faux environmentalists will let this one pass. [Based on their past history, maybe I should not assume such.]
This is but one example; there are examples all over the country of Big Oil and little oil financing public education.
This reminds me of Cramer's recent interview with Dominions Resources CEO. In the interview they were discussing the Cove Point LNG Terminal's application to convert to a plant exporting LNG. The CEO pointed out the tax revenues on the plant would fund 600 teaching positions in the local county in Maryland, as well as creating many jobs in the upstream segment to the benefit of Penn/Ohio. A good interview. Link for those with the time and interest.
ReplyDeletehttp://video.cnbc.com/gallery/?video=3000106565&play=1#eyJ2aWQiOiIzMDAwMTA2NTY1IiwiZW5jVmlkIjoibWREWW90NUR5ZGdZYUNXUnBwSldXQT09IiwidlRhYiI6InRyYW5zY3JpcHQiLCJ2UGFnZSI6MSwiZ05hdiI6WyLCoExhdGVzdCBWaWRlbyJdLCJnU2VjdCI6IkFMTCIsImdQYWdlIjoiMSIsInN5bSI6IiIsInNlYXJjaCI6IiJ9
Wow, great link. Thank you.....600 teaching positions is not trivial. Incredible story. Thank you. Public Affairs spokespersons for Big Oil Companies need to market the success of their companies with examples we can all relate to. .... funding 600 teaching positions gets my attention.
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