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Wednesday, October 17, 2012

Obama's Bakken Bust?

Link here to CNBC.
And although this presidential election is not a referendum on energy policy per se, there is an undercurrent of concern.
"I think people in this part of the state are very nervous," Williston Mayor Ward Koeser told CNBC. "There isn't a lot of confidence in President Obama when it comes to understanding the oil industry.
If fracking were to be more tightly regulated, that's one thing. But a moratorium or ban is another story.
"Things would stop here as quick as a thief in the night," said Tom Rolfstad, Williston's head of economic development. "It would just halt it."
Rolfstad is adamant about positive efforts to limit any environmental damage from fracking. 
"I think we’ve made dramatic changes with a great deal of caution and care," he said. "Our cleanup in accordance to laws in the last year or two — that required every well has everything cleaned up after the well has been drilled. It's said to cost $400,000 per well to do that cleanup.
One comment: "If fracking were to be more tightly regulated, that's one thing." -- a slippery slope. 

5 comments:

  1. Yeah because he's been so bad for the industry so far.

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    1. I agree. Thank you for taking time to comment.

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    2. The US government agency, the US Energy Information Agency (EIA), compiles the data and confirms that "total fossil fuel production in public areas -- oil, gas and coal -- has plunged to a nine-year low, to 18.6 quadrillion BTUs from 21.2 quadrillion in 2003." -- WSJ, Review and Outlook, Energy in the Executive, page A14, October 18, 2012.

      Fortunately, the private sector was able to offset that "plunge" in public-sector production. And, fortunately, we are/were still in a recession, didn't need all that energy, and Americans were content/satisfied with paying $5.00/gallon of gasoline.

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  2. If they ban fracking because of environmental concerns ND should demand removal of the nukes at Minot AF Base because of environmental concerns.

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    Replies
    1. I'm sure if Mr Putin asks nicely, Mr Obama will remove the nuclear weapons from North Dakota.

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