RBN Energy: the coming glut of light sweet oil at the Gulf; will result in downward pressure on the price of oil; Cushing had an escape valve (reverse the pipelines; additional pipelines out); the Gulf has no escape valve (generally, oil cannot be exported from the US)
A reader sends this Motley Fool article: North Dakota to the feds on fracking -- stay away. Also the usual list of operators in the Bakken that the Motley Fool always highlights. Readers might be interested in looking at what American Eagle has done this year (linked earlier).
Chesapeake is pulling out of New York state. Reuters/Rigzone is reporting:
Chesapeake Energy Corp will finalize an agreement next week to drop about 12,000 acres of land leased for energy drilling in New York state, as a moratorium on fracking continues into its sixth year.
Reuters reported last month that Chesapeake decided to walk away from about 100 leases in Broome and Tioga Counties in the south of the state, ending a two-year legal battle with landowners who wanted to cancel expired leases or renegotiate for better terms.
Lawyers representing Chesapeake said in a letter to the U.S. Court of Appeals for the Second Circuit on Tuesday that they were in the final stages of negotiating a settlement and that a deal is expected to be made official next week.It looks like New York and France have something in common. Insanity.
On a more pleasant note to end this post: stunning photographs of Theodore Roosevelt National Park in North Dakota, which, if we are fortunate, will never see a wind farm.
Okay, one more: a hawk in slow motion and why a pheasant doesn't stand a chance.
