Saturday, March 24, 2012

Almost 85,000 Bbls -- Still on DRL Status -- The Bakken, North Dakota, USA

This is a kind of interesting well.  The well is still on DRL status as of January 31, 2012. Cumulative reported production 83,999 bbls.

Green Energy Won't Cut Price of Oil For Decades -- If Ever: Investors Business Daily

The administration is aware that hundreds of thousands of birds
 are being killed annually by wind farms.

A big thank you to "Chris" for sending me this link from Investors Business Daily.
Obama has been touting an "all of the above" policy, which focuses less on what he calls the "fuel of the past" and more on things like alternative energy and improved efficiency. He touted this approach again Thursday at stops in Oklahoma and Ohio.

An IBD review of the president's energy proposals finds that, if they have any effect on oil consumption and prices at all, it won't be for decades. Among the main ideas in his energy plan:

Wind, solar, etc.: Obama argues for expanding the use of renewable fuels, such as wind, solar and biofuels. "It's time," he says, "to double down on clean energy industries that have never been more promising." ["Solyndra was not our program." -- The President]

But the federal Energy Information Administration says these will account for just 13% of the nation's energy production as far out as 2035, up from 7% today. In contrast, traditional fuels — such as oil, coal and natural gas — will still make up 73%.
For investors, there may be some "get rich quick schemes with wind/solar" but wind/solar won't do a thing in the big picture. Wind turbines have no redeeming value, unless you're a rodent, and then the slaughter of raptors by wind turbines might be seen as a positive. Solar produces less electricity than wind. And even with subsidies, Solyndra investors found out how that turned out.

You have to give the president kudos for sticking to his principles. But as Einstein noted for the definition of insanity: doing the same thing over and over again expecting a different result. ["Solyndra was not our program." -- The President]

Per se.

By the way, the administration is aware that hundreds of thousands of birds are being killed by wind farms. The administration is recommending wind power developers voluntarily address this. I wonder if he will call off oil and gas regulators and suggest that the oil and gas industry voluntarily try to reduce risk of oil spills. Just saying.

Williston Area Updates -- New Rec Center; ONEOK Pipelines; Truck Reliever Route

Update on new rec center (numbers rounded):
  • $70 million
  • 205,000 square feet (61,000 square feet larger than original plans)
  • it is 2x the size of the 93,000 square foot West River Community in Dickinson
  • see comment below: Super Wal-Mart in Williston said to be 214,00 square feet
  • top requests from citizens: focused on swimming-related activities
  • 25,000 square foot water park (10,000 square larger than originally planned)
  • 53-meter lap pool
  • wake board/surf board pool
  • separate pool for swimming lessons and program
  • lap pool with seating area for 800 spectators
  • fitness center, racquetball, tennis and gym space, indoor track
  • four gyms; 200 meter indoor track
  • 10 locker rooms
  • child car drop-offs
  • funded by 1 cent city sales tax which was passed in 2011
  • ground breaking this summer; completion by December, 2013 (original post had dates wrong; see first comment)
Governor tours new truck reliever route
  • to be completed by mid-summer 2012
  • $10 million project 
ONEOK requests permission to construct two new gas pipelines
  • from the new Stateline Gas Processing Plant Phase I and then Stateline II
  • a 16-inch pipe will run 37 miles
  • a 12-inch pipe will run 27 miles
  • will follow existing pipeline corridor
  • requires US Army Corps of Engineers to approve