In what would be major economic and energy development for the central region, Basin Electric Power Cooperative says it is scouting for land in Emmons County to locate a mega-scale power plant fueled by natural gas.
The Missouri River and the Northern Border Natural Gas Pipeline go through both Emmons and Morton counties and each has transmission lines to take the 600-megawatt power load.2nd Quarter GDP revised upward: 4.2%, up from previous estimate of 4%.
Corporate profits surged last quarter while the U.S. economy posted robust growth, putting the economic expansion back on steady footing headed into its sixth year.Corporate profits surged last quarter while the U.S. economy posted robust growth, putting the economic expansion back on steady footing headed into its sixth year. Gross domestic product, the broadest measure of goods and services produced across the economy, grew at a seasonally adjusted annual rate of 4.2% in the second quarter after accounting for inflation, the Commerce Department said.RBN Energy: the growing domestic market for LNG.
Say “LNG” and the first thing that comes to mind for most of us is the potential for liquefied natural gas exports to Asia and other overseas markets. One of the hottest LNG markets right now, though, is domestic, and involves super-cooling natural gas into LNG and using it to power drilling rigs and hydraulic fracturing pumps, as well as ships, locomotives, and long-haul trucks. A number of small liquefaction plants have been operating for years in the US – most connected to peak shaving generation facilities but projects with capacity totaling more than 2 million gallons/day are under construction or being planned. Today we begin a new series examining the increasing use of LNG as a cheaper, cleaner alternative to diesel and shipping fuel, and the LNG production capacity being developed to keep pace with rising demand.
The fuel costs associated with oil and gas drilling and fracking operations are a big deal. On average, a drilling rig uses about 1,750 gallons/day (g/d) of diesel that costs as much as $3/gallon (off-road diesel does not incur the same federal and state taxes as on-road). The pump-related fuel costs for a typical fracking job, meanwhile, can average $125,000 or more. As we will get to, running the engines that power drilling rigs and fracking pumps on a 30/70 blend of diesel and gas from LNG can reduce fuel costs by 30% or more, and running the engines on 100% gas from LNG can save even more. The cost of fuel also is paramount in the transportation sector. A Great Lakes bulk carrier can burn 2 million gallons of marine distillate or marine residual oil (also known as bunker fuel) per year, while a diesel locomotive hauling 3,000 tons of freight 500 miles might burn 3,200 gallons of diesel. (CSX’s locomotives alone used 482 million gallons of diesel in 2013.) A long-haul 18-wheeler, meanwhile, might consume 12,000 gallons of diesel annually (and there are three million 18-wheelers in the US). All could realize substantial fuel-cost savings by switching to all gas or a blend of gas and oil-based liquid fuel.Active rigs:
The Wall Street Journal
Top story: the president does not plan escalation against Islamic state. Apparently pretty unbothered about the whole thing. Says the US has the strongest military in the world and could wipe ISIL out if it wanted, but they would just come back. That's why I no longer spray for cockroaches; they just keep coming back. Talk about cognitive dissonance. ISIL, or somebody, abducted 43 UN peacekeepers as the insurgents (these were the guys the US was supporting) fought Syrian government forces (these were the guys the US tried to topple) in the Golan Heights area. Goland Heights, UN peacekeepers, ISIL. This can't be good news for Israel.
Ukraine says Russia has invaded. the president does not plan on any military action. Thank goodness. Can you imagine? Estonia is watching closely. Poland is watching closely. The EU is watching weather forecasts for this coming winter.
Dead? Government-bond yields touched new lows in the US and Germany, as investors piled anew into ultrasafe debt.
Blinked? The Obama administration has reached a deal with Republican Pennsylvania governor to expand the state's Medicaid program under ObamaCare.
Fracking? With groundwater levels falling across the state, theCalifornia legislature is considering regulating underground water for the first time.
Minimum wage in Mexico may be raised to $6. In 2015. Per day. Any wonder why folks stream across the border?
Dark roast? Dunkin Donuts to launch first hot dark-roast coffee. As mentioned earlier, the Burger King-Tim Horton deal had nothing to do with taxes.
I just love these 30-second analyses. The headline: yesterday the stock market fell "as renewed tension on the Russian-Ukraine border overrode any enthusiasm for upbeat economic reports." Market futures are up today; I guess traders have moved on, less than 18 hours later. By the way, I first mentioned Helmerich and Payne on June 29, 2010. At the time HP was trading for $36. I see that HP is trading for $103 today.
Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read here or think you may have read here.
The Los Angeles Times
Really? Oil, gas leasing to resume in California after reports OKs fracking. (And, yes, that's how the LA Times spells "fracking.") This decision comes out days after the biggest earthquake in 25 years in California, in Napa where they don't frack, as far as I know.
Another line in the sand gone? The president said he would act on immigration, on his own, by the end of the summer. Today, the headline: "Obama suggests he'll need more time on immigration policy." Yes, it's only been six years. Unfortunately the talking paper on immigration policy is on top of his white paper on the Keystone XL project.
Cognitive dissonance? Does Antarctic sea ice growth negate climate change? Scientists say "no." LOL. At least they all agree now that Antarctic sea ice is growing. And all these years we were told the biggest risk of global warming was rising sea levels. I guess the Antarctic will suck up all that water. By the way, agricultural reports coming out of North Dakota, Montana suggest global warming certainly hasn't been detrimental in this area.
Enough of this. Time to move on. Good luck to all.