Part I: Update on the Permian -- Mike Filloon

I was going to simply link this article at the "Permian" page for the blog. But this is a great overview of / introduction to the Permian.

Again, a great, great article by Mike Filloon.

For Investors Only: EEP Misses by Seven Cents

From Yahoo!Finance:

Enbridge Energy [Management] misses by $0.07, beats on revs (EEP): Reports Q4 (Dec) earnings of $0.18 per share, $0.07 worse than the Capital IQ Consensus Estimate of $0.25; revenues fell 14.7% year/year to $1.77 bln vs the $1.65 bln consensus.

Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read here.

Staggering Corn Production Possible -- Nothing About The Bakken

Check out this graph: looks like oil production in the Bakken.

Corn yields.

So, just after WWII: about 50 bushels/acre.

Then in the 80's: maybe 100 bushels/acre.

In 2000: 140 acres/acre.

Now this story, sent to me by Don: 12-inch rows, hybrids --> 300+ bushels/acre

Narrow-row corn just got narrower. Stine Seed Company planted and harvested 2,500 acres of 12-in.-row corn in central Iowa last year. A hybrid designed for high density production yielded 320 to 330 bu./acre on the cropland.

“(The fields) were up where we had a little extra rain and a little extra nitrogen on it,” reports Harry Stine, president, Stine Seed. “Most of our other yields were much lower with a farm average of 145 bu./acre (mostly 22½-in. rows).”

The trend to 20- and 15-in.-row corn has been around for years. But interest in even narrower rows such as 12 in. has increased as growers seek the elusive 300 bu./acre yield mark.

Absolutely incredible. So, now we have a third "hockey stick" graph to talk about: a) corn yield in the US; b) Bakken crude oil production; and, c) global warming.

Okay, two out of three ain't bad.

According to wiki:

As of 2007, corn became the state's largest crop produced, although only 2% of U.S. production. The Corn Belt extends to North Dakota, but is situated more on the edge of the region instead if in its center. Corn yields are high in the southeast part of the state and smaller in other parts of the state. Most of the cereal grains are grown for livestock feed.

Three Great Discussions Over At The Bakken Shale Discussion Group

For folks trying to learn more about the Bakken or get a better understanding of the Bakken, it just so happens there are three great threads over at the Bakken Shale Discussion Group. Scroll through the following links and pay attention to the more recent postings.

First: a very nice discussion of natural gas reservoirs in the Bakken;

Second: the number of permanent workers that will eventually be needed in the Bakken; when this question was first asked, I thought it would be quite difficult to answer; analysis seems to be very nice;

Third: increased density spacing in the Bakken; and, of course, this is very, very interesting; downspacing to 160-acre density spacing (if that's the right way to phrase it).

Three Great Discussions Over At The Bakken Shale Discussion Group

Global Warming Hits Chernobyl

The New Zealand Herald is reporting:

A section of the Chernobyl nuclear power plant in Ukraine has collapsed under the weight of snow, officials say, raising new concerns about the condition of the facility that was the site of the world's worst nuclear accident.

Remember: just last week -- "heaviest snowfall in century hits Moscow."

I can't make this stuff up. A "thank you" to "anon 1" for sending the story.

Wells Coming Off The Confidential List Thursday; MRO With A Nice Well; Legacy With Two Nice Spearfish Wells

21887, 182, Legacy, Legacy Etal Bernstein 13-7H, Red Rock, a Spearfish well; t11/12; cum 10K 12/12;
21922, 94, Legacy, Legacy Etal Bernstein 13-17H, Red Rock, a Spearfish well; t10/12; cum 10K 12/12;
22753, 1,964, XTO, Rose Federal 34X-34C, West Capa, t11/12; cum 4K 12/12;
22903, drl, BEXP, Samson 29-34 4TFH, Banks, no production reported;
22911, 1,538, MRO, Pearl 41-13H, Big Bend, t10/12; cum 51K 12/12;

******************************

22911, conf, MRO, Pearl 41-13H, Big Bend, on a natural gas pipeline:

Date	Oil Runs	MCF Sold
12-2012	13398	5023
11-2012	22548	0
10-2012	13106	0

EOG Earnings Reported

Earnings transcript here. 

From Reuters:

EOG Resources Inc on Wednesday reported a quarterly loss compared with a year-ago profit, as it wrote down the value of Canadian natural gas assets.

Excluding items EOG reported a profit that topped Wall Street expectations, as it pumped a higher amount of more profitable crude oil from formations like the Bakken in south Texas.

The Houston company reported a fourth-quarter loss of $505 million, or $1.88 per share, compared with a profit of $120.7 million, or 45 cents per share, in the same period.

Excluding items like the $849 million writedown of assets, EOG reported earnings of $1.61 per share. Wall Street on average had expected $1.35 per share.

That was a "cut and paste" from the linked article. Note "the Bakken in south Texas."

Press release from EOG.

EOG Resources Reports Outstanding 2012 Results; Increases Eagle Ford and Leonard Reserve Potential; Announces New Texas Delaware Basin Wolfcamp Play; Raises Common Stock Dividend by 10 Percent

From SeekingAlpha:

More on EOG Resources: Q4 beats on all counts as total revenue increases by 9% Y/Y. Crude oil and condensate growth +39% Y/Y, total liquids growth +37%. Increases Eagle Ford potential recoverable reserve estimate by 600MM Boe to 2.2B Boe, plus improvements in Bakken/Three Forks Operations.

From Yahoo!News:

• Achieves 39 Percent Year-Over-Year Total Company Crude Oil and Condensate Growth and 37 Percent Total Liquids Growth
• Reports 10 Percent Total Company Production Growth
• Delivers Strong Year-Over-Year Growth in Non-GAAP Earnings Per Share, Adjusted EBITDAX and Discretionary Cash Flow
• Increases Eagle Ford Potential Recoverable Reserve Estimate by 600 MMBoe to 2.2 BnBoe, Net to EOG
• Highlights Record Eagle Ford Oil Well
• Announces New Wolfcamp Shale Play in Delaware Basin and Increases Leonard Shale Potential Reserves with Total Combined Delaware Basin Potential Reserves of 1.35 BnBoe, Net to EOG
• Realizes Improvements in Bakken/Three Forks Operations
• Delivers 268 Percent Reserve Replacement at Attractive Finding Costs, Excluding Price-Related Reserve Revisions
• Raises Common Stock Dividend for 14^th Time in 14 Years

Six (6) New Permits -- The Williston Basin, North Dakota, USA

Bakken Operations

Active rigs: 182 (steady)

Six (6) new permits --

• Operators: SM Energy (3), Baytex (2), CLR
• Fields: Blooming Prairie (Divide), Poe (McKenzie), Sadler (Divide)
• Comments:

Wells coming off the confidential list were reported earlier; see sidebar at the right.

Producing wells completed:
23180, 833, CLR, Buddy 1-27H, t1/13; cum --

Off The Net For Awhile

Dribs and Drabs From the SOTU; Add Another Solar Company To The List Of Those Going Bankrupt

Updates

September 7, 2013: add a natural gas minivan company to the list.

August 15, 2013: add VPG to the list. 

April 26, 2013: add SoloPower to the group of failed solar panel companies to the list below; funded by state of Oregon; not by US taxpayers

April 8, 2013: Flabeg Solar U.S. Corp., a $30 million solar plant located near the Pittsburgh International Airport has shut its doors four years after receiving nearly $10.2 million in tax credits from the Obama Administration as part of the American Reinvestment and Recovery Act. For more, click here.

Original Post

I guess the administration is looking to set up another slush fund. This slush fund would take money from the oil and gas industry and place it into a lock box / white box in which research on gas-free vehicles would take place. Sort of like the DOE / Solyndra debacle, I suppose.

This is sort of what I imagine the slush fund to look like three years after inception (I've not checked all the links; these are from an old post and some of the links may have broken):

The complete list of faltering or bankrupt green-energy companies:

1. Evergreen Solar ($24 million)*
2. SpectraWatt ($500,000)*
3. Solyndra ($535 million)*
4. Beacon Power ($69 million)* -- see "update/correction" below
5. AES’s subsidiary Eastern Energy ($17.1 million) -- see "update/correction" below
6. Nevada Geothermal ($98.5 million)
7. SunPower ($1.5 billion)
8. First Solar ($1.46 billion)
9. Babcock and Brown ($178 million)
10. EnerDel’s subsidiary Ener1 ($118.5 million)*
11. Amonix ($5.9 million)
12. National Renewable Energy Lab ($200 million)
13. Fisker Automotive ($528 million)
14. Abound Solar ($374 million)*
15. A123 Systems ($279 million)*
16. Willard and Kelsey Solar Group ($6 million) -- see "update/correction" below
17. Johnson Controls ($299 million)
18. Schneider Electric ($86 million) -- see "update/correction" below
19. Brightsource ($1.6 billion)
20. ECOtality ($126.2 million)
21. Raser Technologies ($33 million)*
22. Energy Conversion Devices ($13.3 million)*
23. Mountain Plaza, Inc. ($2 million)*
24. Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
25. Range Fuels ($80 million)*
26. Thompson River Power ($6.4 million)*
27. Stirling Energy Systems ($7 million)*
28. LSP Energy ($2.1 billion)* -- see "update/correction" below
29. UniSolar ($100 million)* -- see "update/correction" below
30. Azure Dynamics ($120 million)* -- see "update/correction" below
31. GreenVolts ($500,000)
32. Vestas ($50 million)
33. LG Chem’s subsidiary Compact Power ($150 million) -- see "correction" below
34. Nordic Windpower ($16 million)*
35. Navistar ($10 million)
36. Satcon ($3 million)*
37. Nissan Leaf battery facility, Smyrna, TN (see November 15, 2012, update above) 
38. Twin Creeks Technologies, Senatobia, MS ($26  million)* (see November 30, 2012, update above)

* Indicates filed for bankruptcy.

Of all the companies listed, this remains my favorite:

Twin Creeks Technologies. This is their $26 million website [update: surprisingly, this link is still up].  I assume this link will break soon -- the website is a single page, completely white except for a "sunburst" icon and "twincreeks technologies" all in lower case. That's the website. I can't make this stuff up. Here's the story:

Mississippi taxpayers may have only an empty Senatobia building and some solar panel equipment to show for nearly $26 million in loans provided to Twin Creeks Technologies.

The California-based solar technology firm is liquidating, and a company that bought Twin Creeks' assets does not intend to take over its agreement with Mississippi. The contract called for Twin Creeks to invest at least $132 million and create at least 500 jobs.

"Mississippi taxpayers may have only an empty Senatobia building and some solar panel equipment to show for nearly $26 million in loans" -- as you can see, this is not quite accurate. They also got a single page website with the logo.

If the administration is successful in establishing this slush fund, the two winners* would be: a) the unions; b) GM; and, c) Tesla. The losers: those buying gasoline. These costs would be passed on to the consumer. But Americans are content/satisfied, so this idea has potential. Oh, I forgot, the other winner would be the Chinese company making the flaming batteries for Boeing's 787 Dreamliner.

*I count "unions" and "GM" as one in this particular case.

******************************

Update: since the original list was posted, the source for this list, The Foundry, has noted some "corrections" which may affect the above list. None of the companies nor the government have contacted me to say the figures are incorrect. However, this from The Foundry:

Figures for four companies have been updated: Beacon Power received $43 million from the U.S. government, not $69 million as originally reported. Azure Dynamics received $5.4 million from the federal government, not $120 million as originally reported. Compact Power Inc. received $151 million as part of the stimulus, not $150 million as originally reported. Willard and Kelsey Solar Group received $700,981 in government funding, not $6 million as originally reported.

The following companies have been removed from the original list: AES’s subsidiary Eastern Energy, LSP Energy, Schneider Electric, and Uni-Solar did not receive government-backed loans, based on additional research. The National Renewable Energy Lab did received $200 million in stimulus funding, but it is a government laboratory.

Wednesday Links

Active rigs: 182 (steady)

Wells coming off confidential list have been posted. Five of eight wells to DRL status.

WSJ Links

Section D (Personal Journal): nothing of interest

Section C (Money & Investing): 

Drought coming to an end; end of global warming worries? Wheat prices fell to a 7-month low as rain and snow in the southern Great Plains eased concerns over drought in the region.  Every son's father in the Midwest always said seven years of wet years followed seven years of dry years.

Section B (Marketplace): nothing of interest

Section A: 

This is priceless. Our current SecTreasury forgot to pay his taxes or something to that effect which came to light during his confirmation hearings. Now we hear that the next-likely SecTreasury was investing off-shore in the Cayman Islands for Citigroup, 2006 - 2008. Joe thinks that will sink his confirmation. I don't know. I don't care. But the op-ed is fun to read, especially when you have "tax evasion," "felony," "confirmation hearings," and "Secretary of Treasury" all in the same short op-ed:

No matter how Jack Lew performs at his Senate confirmation hearing on Wednesday, his nomination to be Treasury Secretary has already produced one big winner: the Cayman Islands. The Caribbean low-tax haven is getting a political rehabilitation thanks to Mr. Lew's participation in a Cayman-based fund he invested in while working at Citigroup  from 2006-2008.

For years Democrats have denounced the Caymans, which has no corporate income tax, as a refuge for tax cheats. In 2012 President Obama ripped Mitt Romney for investments based there. But now an Obama spokesman suggests that Mr. Lew's Caymans investment, a Citigroup fund he chose to invest in, was a model of transparency and says that "Jack Lew paid all of his taxes and reported all of the income, gains and losses from the investment on his tax returns."

Wednesday's hearing might even restore the good name of Ugland House, a small Caymans building that Democrats made famous as the legal home to thousands of businesses and investment partnerships—including Mr. Lew's. Mr. Obama has called Ugland an "outrage" and a "tax scam."

Senate Finance Chairman Max Baucus, who will preside over the Lew festivities, devoted an entire hearing to Ugland House in 2008 and said that businesses maintain legal residences there for reasons that "have a lot to do with tax evasion."

Tax evasion is a felony.

There was a story yesterday, by the way, that Bank of New York lost a huge case to the IRS because it involved in investments simply to avoid taxes, and I'm paraphrasing, so I may have the story wrong (about the reason; it is a fact that BK lost big to the IRS over the matter).

Op-ed: the economic windfall of immigration reform. I did not read. My mind is made up.
Along with same-sex civil unions and same-sex marriage.

****************

A Note To the Granddaughters

Isn't this interesting? One of our favorite spots to visit in southern California is the Marine Mammal Care Center in San Pedro,  CA. Today, of all things, on page 3 of Section (and we've talked about page 3 before), there is big story on the wave of stranded sea lions that are baffling southern California.

Sickly sea-lion pups have been getting stranded in record numbers on the coast of Southern California this winter, overwhelming marine-rescue centers and surprising residents who have found them hiding under parked cars, crossing roads and, in at least one case, sitting in a flower pot.

The Marine Mammal Care Center in San Pedro, Calif., says it has admitted 92 malnourished sea lions since the start of January, with 12 of those arriving last Saturday. The year-to-date total is usually about 10 to 12 in normal years, the center says.

The Pacific Marine Mammal Center, a nonprofit rescue group in Laguna Beach, has received 38 sea lions since the start of the year, up from six over the same period last year. 

Interestingly, perhaps the biologists printed the explanation without knowing:

Ms. Wilkin also says the timing of the strandings is unusual: Sea-lion pups typically get stranded in such numbers in the fall, when they first separate from their mothers and venture out into the ocean to catch food on their own. Sea lions are usually born from May to August, she says.  

Perhaps the word has gotten out: the Marine Mammal Care Center is really, really, nice. Perhaps the sea lions have broken the code: three squares and a cot if you get up on land in San Pedro.

Build it; they will come.

Seriously, the MMCC is incredible. Run by a very small paid staff and an army of volunteers,  the center does an outstanding job. The animals they rescue do not become pets, do not become friends. As soon as they are able, the mammals are released back into the wild. The staff "loves" the animals, but it is a "tough love." We love visiting.

For Investors Only: Wow -- Deere Blowing Out The Numbers

Surging pre-market.

Again, this is not an investment site. I don't invest in Deere. It is important / interesting to me as it relates to North Dakota.

Nexus Gas Transmission Pipeline -- RBN Energy, February 13, 2013

Another great article from RBN Energy: exporting Marcellus natural gas to Canada.

The proposed Nexus Gas Transmission pipeline is a joint venture (one third each) between Enbridge, DTE and Spectra (the owners of Union Gas). The map below shows the planned route (large blue arrow) from the Western Pennsylvania and Eastern Ohio Utica shale basin around the tip of Lake Erie and into Dawn on the Vector pipeline. The pipeline would be approximately 250 miles long and have a capacity of at least 1 Bcf/d. The project completed a successful open season in November 2012 and now waits for permitting and FERC approval expected in 2015. The current projected in-Service date is late 2016.

A Reader Suggests: The Winds Are Changing; Fracking -- "The President Gets It"

Link here to two Forbes articles:

• President Obama sounded very positive regarding domestic oil and gas industry.
• The arithmetic of shale gas.

Really, really nice articles.

Using a lousy metaphor for this: I think the "canary in the coal mine" will be New York state's decision on fracking. In fact, I wouldn't be a bit surprised if the Obama administration / EPA is watching New York's decision.

For Investors Only: Comcast Pops -- Will Buy GE's 49% Interest In NBC; Also A Bit Of Trivia Probably Missed By Most

Comcast to buy rest of NBC Universal from GE in $16.7 billion deal.-- Reuters. Also at the Wall Street Journal.

Comcast to buy GE's 49% interest in NBC. In pre-market trading, Comcast is surging a couple of dollars. It closed at $38.97 yesterday. So, we'll see where it closes today.

But that's not the big story. This is the much bigger story.

Apple and Apple TV have been in the news for several years now. Everyone was focused on the hardware/software. There was not a lot of talk about content. Apple and Disney have a relationship of which I've long lost track. Important/unimportant? Who knows? (Rhetorical; don't comment.)

My hunch is that Steve Jobs was looking at all the pieces that were required to make Apple TV a success including content.

So, it was interesting to hear Jim Cramer suggest some days ago that Apple could buy CBS.

Today, with the news that CMCSA is buying GE's 49% share of NBC, one has to take Cramer's "off-hand" (?) comment seriously.

Market cap for CBS: <$30 billion.

Apple cash: $130 billion, folks are saying. (Though Yahoo!Finance says a lot less.)

It didn't hurt that Tim Cook, Apple/CEO, was sitting next to Michelle Obama during the State of the Union Address. 

Of course, this all started with Al Gore selling his content / distribution to Al-Jazeera. Things are moving fast in this arena. There is only so much sprectrum.

Other comments:

CNBC anchors saying that CMCSA had lots of cash sitting around not earning much. Yahoo!Finance says CMCSA had about $10 billion in cash (how current?). GE valued NBCU at $40 million; this deal was about $17 billion. Put that in perspective with APPL: at least $130 billion in cash. CBS with a market cap of $30 billion, and with a 50% premium, at about $45 million, similar to NBCU.

Yesterday Apple/CEO, Tim Cook, defended Apple's cash position.

This will be very interesting to watch.

********************

By the way, on a completely different note:

There were several (many?) guests and friends sitting with Michelle Obama at the State of the Union Address. I did not watch the speech so I don't know if any of this was commented upon. I just noted it now. Pretty cool. Very important. Counter-intuitive.  This from Daily Mail (UK):

One of the guests: Tracey Hepner is a co-founder of Military Partners and Families Coalition and her presence comes just days after the Pentagon announced extended benefits for the spouses of military members. Ms Hepner is married to Army Birgadier General Tammy Smith. 

And this from Yahoo!News:

Last week, Brigadier General Tammy Smith became the first openly gay officer of flag rank in the United States army. She was promoted in an Aug. 10 ceremony at Arlington at which Brig. Gen. Smith's wife, Tracey Hepner, pinned the star onto her uniform.

Canadian Carbon Tax Quid Pro Quo For Keystone XL Approval

Wow, this was bugging me. I knew I had posted this but I couldn't find it. I was sure I had posted that a carbon tax would be the quid pro quo for approving the Keystone XL, but I couldn't find it. I must have spent an hour looking for that post.

Then I remembered: I didn't post it. I thought it too "crazy" to post, and instead just sent it as an e-mail to Don. But here's what I sent Don on February 3, 2013:

1. TransCanada has it figured out. It needs a carbon tax to get the Keystone XL approved. The Canadian govt say "no."

2. Obama talks to Canadian govt; to get Keystone XL, Canada has to enact a carbon tax.

3. Canada enacts a carbon tax.

4. Canada enacting a carbon tax gives Obama "top cover" to do the same thing in the US.

5. Obama says he will approve Keystone XL if US follows Canada's lead and enacts a carbon tax.

6. So, will House of Representatives go alone with a carbon tax? Depends how it's structured.

It looks like the first half is "on the table," as they say. In the Financial Post, Terence Corcoran writes that the price of the Keystone may be a carbon tax in Canada.

Hello Canada! Are you ready — ready for a new national tax on carbon that will ding pocketbooks across the country?

My bet is that a new carbon tax is coming, made almost inevitable by Prime Minister Stephen Harper’s full-bore push to secure Washington’s approval of the Keystone XL pipeline. For early clues on the carbon tax/Keystone trade-off, tune in Tuesday night to President Barack Obama’s State of the Union address. As the president speaks, he will be alert to the chorus of Hollywood stars, environmental activists, editorial writers and industry leaders who are pushing for him to make the biggest climate-change decision he can possibly make: Impose a carbon tax.

It is time Canadians became aware of the giant trap being set in Washington over Keystone. The short version is this: The president approves Keystone, greatly expanding the flow of Canadian oil sands production into the United States. In return, however, Canada has no choice but to accept a carbon tax at home as part of a grand bargain.

So, that's on the table. Canada can't turn on a dime. It will be at least a year before Canada votes yes/no on a carbon tax. Canada pulled out of the Kyoto Protocol. It's hard to believe the Canadians would vote yes on a carbon tax to get the Keystone XL approved.

Don't forget: Canadian oil is trading at a huge discount to Brent. A forgotten story is the increasing amount of oil Canada is exporting to Europe. If the activists in the US kill the Keystone XL and the activists in Canada kill their pipeline dreams to the west coast, there is only one alternative, assuming Canadian oil sands can hold out long enough/survive this transition.

Gotta move on...too much breaking news....

But one last thought -- again, to repeat, a carbon tax in Canada would give the president of the US top cover for a carbon tax in the United States.

North Dakota Farm Land Surging In Value

Good morning; early start to the day. Trying to catch up.

From Don, an article in Prairie Biz Magazine,

A North Dakota farm managers and rural appraiser group published its 2012 report recently, indicating an average 46 percent annual jump in North Dakota farm values in 2012, and a 28 percent increase in values in nearby Minnesota counties.

Two counties in North Dakota — Walsh and Richland — had three sales that averaged more than $10,000 per acre — the first time publicly to Peterson’s knowledge.

“I believe it,” says Andy Swenson, North Dakota State University Extension Service farm management specialist, of the report. He says farmers are coming off of six pretty good years in crop production profitability, starting in 2007. “And 2012 will be the most profitable of all by a pretty good shake,” Swenson says. “Their ability to pay is there. There is a lot of cash out there, but a lot of wherewithal” to buy land.

Interest rates are low, which means buying land is cheaper. Crop prices are still high. “And 2012 was a dry year, but everyone up here was impressed by the yields,” he said. “And there were strong prices because of the drought in the Corn Belt.”

I believe CNBC recently had a very short segment in which a guest talked surge in value in farm land. They were doing a segment on "bubbles," such as housing bubbles, and interestingly enough, this guest did not want to go so far as to say this (surge in farm value) was a bubble. To be a "bubble" required a larger segment of the population involved in the frenzy of buying the particular "asset" under discussion. In this case, buyers and sellers of farm land are relatively small in number.

And, unlike "bubbles," it appears that farming is very profitable right now -- at least according to this article.

Thank Goodness For The Internet -- Weathermen, SDS, Anti-Fracking Activists

Isn't this interesting? Again, thank goodness for the internet. This speaks volumes.

In case the link breaks, this is a story about a leading anti-fracking activist in the northeast. Briefly:

Jeffrey Carl Jones was born into a Quaker family in Philadelphia, Pennsylvania in February 1947. In September 1965 he enrolled at Antioch College in Ohio. A month later he joined the Students for a Democratic Society (SDS) and became active as an anti-war speaker on college campuses.

In April 1967 Jones quit school to become the regional office coordinator of New York City’s SDS chapter, a position he held until December 1968. During his tenure with SDS, Jones became a sworn enemy of the United States government. Believing that America’s military involvement in Southeast Asia was immoral, he sided with the North Vietnamese communists. Formally renouncing the conscientious-objector status that had been conferred on him as a result of his Quaker lineage, he began referring to himself and his ideological comrades as ”communist revolutionaries.” 

Fast forward to the 21st century:

Jones thereafter spent ten years as a communications director for Environmental Advocates of New York. He currently heads Jeff Jones Strategies, a consulting firm that specializes in helping grassroots leftist organizations promote their agendas and fundraise successfully. His clients include, among others, the Natural Resources Defense Council, the Workforce Development Institute, New Partners for Community Revitalization, the Land Trust Alliance, the Catskill Center for Conservation and Development, the Healthy Schools Network, and the League of Conservation Voters.

In addition, Jones is a board member of West Harlem Environmental Action; the Mohawk Hudson Land Conservancy; the Healthy Schools Network; the Capital District Chapter of the League of Conservation Voters; and the financial arm of Movement for a Democratic Society, a group that works closely with the newly reconstituted SDS.

New Yorkers should feel relieved that such folks are contributing to the economy of their state by blocking fracking. Meanwhile, Pennsylvania is experiencing an economic surge. [No links; posted several times.]

Updates On Surge, Legacy, Spearfish Wells, North Dakota

I am remiss in keeping up with the Spearfish wells in North Dakota and specifically Legacy and Surge. I just can't keep up with everything.

Several readers send me links that really help, and they are much appreciated. This was was sent in by "anon 1":

Updates.

http://surgeenergy.mediaroom.com/index.php?s=10448&item=135195

http://www.legacyoilandgas.com/documents/NewsRelease-February122013.pdf

Surge: "In North Dakota, fracing operations are underway on seven joint interest horizontal multi-frac Spearfish wells, which are all expected to be on production by early March 2013."

Legacy: "Similarly, at Bottineau County, North Dakota, undeveloped locations included in the 2012 independent engineering report have been assigned reserves 25 percent higher than in the 2011 independent engineering report. Legacy has achieved these rates while constraining production to maximize ultimate recovery."

At the first link, the headline certainly caught my attention: the use of the word "significant":

Surge Energy Inc. Announces Significant Increase in 2012 Year-End Reserves, Resumption of Drilling Operations in the Southern Pool Area of Valhalla and Management Update.

Cold Weather May Have Pulled Japan Out of Recession

I was not going to post this. I was going to just insert this into an earlier stand-alone post, but on second thought, knowing it would be missed, I decided to "cut and paste" this from that post and place it here. It comes on the heels of the University of Alabama report that January was the warmed January in 35 years. Their thermometers show the January, 2013, global temperature 0.51 degrees Celsius above the 30-year baseline. But Japanese thermometers? A huge "thank you" to "anon 1":

February 13, 2013: one has to chuckle. Less than 24 hours after posting this original post, a reader coincidentally sends me another post talking about cold weather, this time in Japan: cold water probably pulled Japan out of a recession.

Domestic same-store sales at Uniqlo, Japan’s largest clothing retailer, rose 13.7 percent in November and 4.5 percent in December as lower temperatures boosted demand. Tokyo temperatures averaged below the 30-year median on 26 of 30 days in November and 24 of 31 days in December, according to data compiled by Bloomberg.

OPEC noted the same thing: a very cold January, at least on their side of the world.