Pages

Friday, August 30, 2013

Friday Morning News, Views, And Links -- Part II

I follow the Duvernay play here The Calgary Herald is reporting:
Alberta’s early stage Duvernay resource play has already absorbed $6 billion of investment and promises to be the subject of much more, analysts say, judging by recent activity and promising results.
“The Duvernay is arguably the most exciting emerging resource play in Canada,” says a research report from TD Securities published Monday.
“We estimate that over $6 billion has been spent on the play to date: $3 billion at land sales, $2 billion of corporate acquisition and divestitures ... and $1 billion in drilling activity.”
The Duvernay was the main driver of the record $3.2 billion spent at Alberta Crown drilling rights auctions in fiscal 2011-12.
The shale marine formation is believed to be the oil and gas source rock for many adjacent conventional Devonian formations that have already been extensively drained. It is found 2,800 to 3,600 meters underground, in thicknesses of 35 to 60 meters and extends over 400 kilometres from northwest to southeast Alberta.
Connecting the dots. Literally. Remember that story about Tesla looking to put in a recharging station at Mitchell, SD? It is being reported that utilities have requested permission to put in a high-voltage transmission line in northeast South Dakota to better connect the Big Stone power plant at Milbank, SD, to the grid system. Mitchell, SD, is in the same general area, though a bit farther southwest, but it looks like South Dakota is getting reading for Tesla.

Bloomberg reports spending increased less than expected:
Consumer spending in the U.S. rose less than forecast in July as income growth slowed, indicating further job gains are needed to sustain household purchases.
Consumer purchases, which account for about 70 percent of the economy, rose 0.1 percent after a revised 0.6 percent increase the prior month that was larger than previously estimated, the Commerce Department reported today in Washington. The median forecast in a Bloomberg survey of economists called for a 0.3 percent rise.
Incomes increased 0.1 percent, down from 0.3 percent the previous month.
Bad news, of course, but not even "reproducible" and probably not even statistically significant. Simply a data point that will be forgotten by this afternoon if not by noon.

O'BamaCare: unions will get the subsidies. Did anyone expect anything else? Is this even news? Before it's all over, everyone will get subsidies except those registered as Tea Party members. The NSA will know. And the NSA will tell the IRS.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.