Enbridge -- Special Call

Great, great article -- transcript.

Everything you wanted to know about the family of Enbridge funds.

The Q&A is all about the Bakken: history of the pipeline, role of crude-by-rail, Keystone XL.

This is not an investing site; see disclaimer. But ENB and various members of the family have been one of my favorite investments. It is currently flirting with new highs; raised the divided 15 percent, and declared a 2-for-1 split last summer. Just an incredible story. Not the best investment I ever made, but certainly among the top ten.

I have no plans to buy, sell, or do anything else with Enbridge or any member of the Enbridge family in the near future.

Finally, An Article on Oil That Doesn't Mention the Bakken

The headline caught my eye.

The story is actually pretty good.

But it doesn't mention the Bakken.

Even with technologies that are exponentially superior for finding new fields to those we had in the 1960s, most petroleum geologists agree no more supergiant fields will be discovered. Historians centuries from now will conclude that the "oil age" was astonishingly short.

It is seductive and convenient to blame the president or those pesky environmentalists for rapidly rising prices, but it's a hollow endeavor. Most environmentalists I know merely want to pass to their children and grandchildren a world as verdant, healthy and livable as they found it. And the president can't put more oil in the ground or impact international economies.

The fluctuations in price in recent years are more about rapidly increasing worldwide demand, global political uncertainty and speculation than anything our government is doing. Our nation's depletion curve has continued for two generations, through Republican and Democratic administrations.

I am surprised to see such an article in the Rigzone. Good for them.

Stephen Chu's $50 Light Bulb -- Absolutely Nothing To Do With The Bakken

Wins government prize of $10 million 

HEB 60-watt bulb: a buck; this bulb: $50

Link here.

The U.S. government last year announced a $10 million award, dubbed the “L Prize,” for any manufacturer that could create a “green” but affordable light bulb.

Energy Secretary Steven Chu said the prize would spur industry to offer the costly bulbs, known as LEDs, at prices “affordable for American families.” There was also a “Buy America” component. Portions of the bulb would have to be made in the United States.

Now the winning bulb is on the market.

The price is $50.

Retailers said the bulb, made by Philips, is likely to be too pricey to have broad appeal. Similar LED bulbs are less than half the cost.

How the expensive bulb won a $10 million government prize meant to foster energy-efficient affordability is one of the curiosities that arise as the country undergoes a massive, mandated turnover from traditional incandescent lamps to more energy-efficient ones.

Something tells me Wal-Mart is not going to be stocking this bulb. The big question is: will you be able to find this bulb anywhere one year from now?

I Erred On the New Claims for Unemployment/New Jobs Numbers Earlier Today

I started this blog to help me keep track of the Bakken, in an attempt to better understand it.

Along the way, there were other issues that caught my attention about which I frequently blog.

One of them is the state of the economy because it affects directly/indirectly what is going on in the oil patch.

One of the indicators I follow regarding the economy is the number of new claims for unemployment benefits; another metric I follow is the unemployment rate.

For as long as I can remember, the "magic number" for new claims for unemployment benefits is 400,000. Below 400,000 new claims for unemployment benefits (monthly number), pundits generally agree is a good sign.  Above 400,000, not such a good sign.

The unemployment rate is easier to follow -- well, duh. Today it was reported to be 8.3 percent.

I don't recall if I have posted the "magic number" for the number of new non-farm jobs (again on a monthly basis). I don't know if the "magic number" is as straightforward as the unemployment claims "magic number," but based on today's news stories on CNBC it appears to be 200,000.

So, to keep it straight in my mind,

• the "magic number" for new claims for unemployment benefits: 400,000
• the "magic number" for new non-farm jobs: 200,000

Hopefully I can keep this straight.

I appreciate "anonymous" for alerting me to my error earlier today; the pundits have not moved the goalposts as I stated.

Now, back to the Bakken. Glad to have gotten that off my chest.

Seven (7) New Permits -- The Williston Basin, North Dakota, USA

March 9, 2012, Daily activity report --

Operators: Petro-Hunt (6), Fidelity

Fields: Eagle Nest, Sanish, Clear Creek

Five wells released from "tight hole" status; only two were completed, reporting an IP.

Another relatively unremarkable report.