March 28, 2016

Active rigs:

	3/28/2016	03/28/2015	03/28/2014	03/28/2013	03/28/2012
Active Rigs	32	97	194	186	206

RBN Energy: update on REX.

NDIC April dockets are posted. There is one case. The case will be heard on four successive days in each of four cities in North Dakota: Williston, Dickinson, Minot, and Bismarck. The case, number 24957, is on a motion of the Commission to consider adopting new rules and amendments to the "General Rules and Regulations for the Conservation of Crude Oil and Natural Gas" codified as Article 43-02 North Dakota Administrative Code.

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Wal-Mart, 1; Puerto Rico, 0

Court rules Puerto Rico tax on Walmart illegal. 

...the island's treasury secretary must immediately stop levying, collecting and enforcing the tax. He noted that Puerto Rico legislators had increased the tax by 325 percent in May 2015 during what he called a brisk approval process so they could capture revenues from Walmart. The 6.5 percent tax would have applied to every piece of inventory Walmart received from its stores even if it wasn't able to sell it, Fuste said.

He noted that if the tax were to remain in effect, it would generate more than $40 million in "unconstitutional taxes...to an insolvent government without any hope that the victimized taxpayers will be reimbursed in the foreseeable future. That is the very definition of an inadequate remedy," he wrote, adding that $10 million of that revenue would have been from Walmart alone.

The mistake Puerto Rico made was being too greedy. Walmart probably would have ignored a 0.65 percent take on inventory. LOL. Not.