Monday, December 10, 2012

Monday Morning Links; "OPEC stuck between Damascus and Dakota on oil price outlook" -- WSJ; The North American Gusher

Wells coming off confidential list have been posted; some huge wells: OXY USA, KOG, and Oasis. Scroll down. 

California renewable mandates will increase fossil fuel requirements, LA Times:  another inconvenient truth for some. And, of course, renewable energy (solar, particularly) is up to three times more costly to the end user than conventional energy (particularly natural gas and coal).

RBN Energy announces conference format for "energy school."

Understanding Halcon, SeekingAlpha.com.

Record winter storm hits Minneapolis; global warming conference in Doha-ha-ha ended over the weekend.

Now to the WSJ (and perhaps some other links thrown in)

Gloom and doom for the oil patch in 2013 (I agree; it could be rocky): OPEC's party is on hold Follow-up in July, 2013, to see how accurate this was.  This is the "headline" for the story where it is continued: OPEC stuck between Damascus and Dakota on oil price outlook.

Hostess pension story gets worse. Who was minding the store? I'm thinking maybe this was the wrong time to go on strike.

Page 3, section C: this is an important story to follow if one subscribes to the "theory" that renewable energy fad fading.
SolarCity, based in San Mateo, Calif., and whose chairman is entrepreneur Elon Musk, sells and installs rooftop solar-energy systems to homeowners and businesses. Customers can buy the systems outright or sign a lease to buy the electricity in monthly payments. 

The company, formed in 2006, markets its business as an easy way for homeowners and businesses to get access to clean energy It counts Wal-Mart Stores Inc.  among its customers.
SolarCity's planned IPO, aimed at raising as much as $151.5 million, has generated more buzz than usual for a solar firm because of the star power of its chairman and chief financial backer. Mr. Musk founded online-payment service PayPal Inc., luxury electric-car maker Tesla Motors Inc. and space-travel firm Space Exploration Technologies Corp., or SpaceX. He has a track record of finding profit in markets where others have struggled. Tesla's shares have more than doubled since their 2010 stock-market debut. 
Two dates to watch for SolarCity: a) this week's IPO; b) share price one year from now. [Update, December 12: SolarCity slashes price of IPO shares.] [Update: December 14: after price cut, SolarCity IPO surges.]

Front page, above the fold: a photograph of global warming, Minneapolis, MN, overnight: new storm records. Reported earlier.  Record winter storm hits Minneapolis; global warming conference in Doha-ha-ha ended over the weekend.

The North American Gusher -- op-ed.
Among the world's oil and gas producers, the U.S. is now growing the fastest. Even though the growth in U.S. demand for energy is slowing, the decline is offset by rising world demand. If North America's total productive capacity in hydrocarbons increases by just 3% per year over the next 20 years, Mr. Mills says, the continent will become the largest supplier to burgeoning world markets.
Too bad the president's world view on energy was formed during the oil shortages of the 70s. Cue up Connie Francis.

Have folks wondered why disability rolls (social security) are increasing? I have opined that it is for two reasons: a) chronically-unemployed realize they will never be employed again; that leads to stress-related illnesses --> disability; and, b) better educated chronically-unemployed; they've learned how to apply for benefits.

It turns out that "better education" was not lost on some, here's an interesting item from an op-ed piece in the WSJ today:
Social Security will also be at risk if an agreement fails to restrain the expansion of payments to people classified as disabled. In 2011, about 4.5% of Americans of working age were treated as disabled, allowing them to receive Social Security. In 1970, only 1.3% qualified. Lawyers now run TV ads soliciting business to move people from work to disability rolls, putting Social Security itself at risk.
Military pensions are taxed; military pensions associated with disability claims are not taxed. The best thing a military member can do while on active duty is to prepare oneself for maintaining perfect health while documenting disability. There is a "trick" that is probably unknown to 95% of current military members.  I did not "realize" the trick until it was "too late."

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