That's the resolution of a NASA satellite circling Mars: 30 centimeters per pixel.
Does anyone doubt there just might be similar technology orbiting the earth? Just asking.
Think what great photos we would have of the Bakken with 30 centimeters per pixel.
Monday, August 6, 2012
How Strong Is the Oil Boom in North Dakota?
Note: see first couple of comments before reading.
The Grand Forks Herald has a very nice op-ed piece on the strength of the oil industry in western North Dakota. It follows a conference at the Energy and Environmental Research Center at the University of North Dakota (EERC/UND). This is incredible library and one I have alluded to many, many posts ago. I have not visited the EERC but it sounds like a state treasure. Visiting the center is on my short list of things to do, although it would take some coincidental scheduling for it to happen.
The author reiterated what readers of this blog have known for quite some time: this oil boom will last decades barring any major geopolitical event that could bring it to a jarring halt.
But the author also noted a few things that grabbed my attention (direct quotes from the article follow):
[I never did finish this piece that was started a long time ago but I will post it as is.]
The Grand Forks Herald has a very nice op-ed piece on the strength of the oil industry in western North Dakota. It follows a conference at the Energy and Environmental Research Center at the University of North Dakota (EERC/UND). This is incredible library and one I have alluded to many, many posts ago. I have not visited the EERC but it sounds like a state treasure. Visiting the center is on my short list of things to do, although it would take some coincidental scheduling for it to happen.
The author reiterated what readers of this blog have known for quite some time: this oil boom will last decades barring any major geopolitical event that could bring it to a jarring halt.
But the author also noted a few things that grabbed my attention (direct quotes from the article follow):
- Electricity needs in some areas are so enormous that officials even are talking about bringing in a modular nuclear reactor to generate power.
- The drilling rigs’ thirst for water is such that officials also are talking about running a pipe from Devils Lake [to western North Dakota].
- Paraphrasing: Every town in the western region could double in size.
[I never did finish this piece that was started a long time ago but I will post it as is.]
Very, Very Optimistic -- For Investors Only
I am finally caught up with most of the notes I wanted to post for today. I need to go through some new presentations and do some reading, but for the moment, I'm just relaxing.
I'm in a great mood. I have this hunch that we're through the rough patch of the market for the time being. Sure, it could bottom out tomorrow or this week, or next week, but skimming through the headlines, and with most companies having now posted their 2Q12 results, it looks like we've gotten through the worst.
I don't know why I'm in a good mood. Maybe it's the fact that Congress is on a five-week vacation. Or maybe it's the Mideast -- it hasn't blown up yet (sure, Syria's a problem).
The Mideast looks "bad" -- in the near term: Syria, Israel and Iran. In the long term, the entire Mideast, as the Muslim Brotherhood gradually takes control. We may yet see Pan-Arabism that was talked about when President Obama was still a community organizer, or perhaps before that (I can't keep track of the decades). But the Mideast always looks bad, and if one is invested in oil, I don't see "bad news" coming out of the Mideast.
If the Mideast gets through this saber-rattling without a shooting war, one can probably thank the US Marines. And the US Navy. I assume a few aircraft carriers and supporting vessels off Iran's shore gets their attention.
But back to investing. I find it absolutely amazing the number of great companies that one can invest in that are paying great dividends. I think "easy money" is here to stay for quite some time, and companies are taking advantage of it. Oasis, SandRidge, Enterprise Partners, all announced new issues of senior debt in the last 24 hours or so. And that's just of the companies I tend to follow.
I'm in a great mood. I have this hunch that we're through the rough patch of the market for the time being. Sure, it could bottom out tomorrow or this week, or next week, but skimming through the headlines, and with most companies having now posted their 2Q12 results, it looks like we've gotten through the worst.
I don't know why I'm in a good mood. Maybe it's the fact that Congress is on a five-week vacation. Or maybe it's the Mideast -- it hasn't blown up yet (sure, Syria's a problem).
The Mideast looks "bad" -- in the near term: Syria, Israel and Iran. In the long term, the entire Mideast, as the Muslim Brotherhood gradually takes control. We may yet see Pan-Arabism that was talked about when President Obama was still a community organizer, or perhaps before that (I can't keep track of the decades). But the Mideast always looks bad, and if one is invested in oil, I don't see "bad news" coming out of the Mideast.
If the Mideast gets through this saber-rattling without a shooting war, one can probably thank the US Marines. And the US Navy. I assume a few aircraft carriers and supporting vessels off Iran's shore gets their attention.
But back to investing. I find it absolutely amazing the number of great companies that one can invest in that are paying great dividends. I think "easy money" is here to stay for quite some time, and companies are taking advantage of it. Oasis, SandRidge, Enterprise Partners, all announced new issues of senior debt in the last 24 hours or so. And that's just of the companies I tend to follow.
SandRidge Has A New Presentation
In the Bakken, I particularly enjoy watching Whiting and Oasis,
Outside the Bakken, SandRidge has caught my attention. Don tells me SandRidge has a new presentation. I have not seen it yet.
Outside the Bakken, SandRidge has caught my attention. Don tells me SandRidge has a new presentation. I have not seen it yet.
Flirting With 200 Active Rigs in North Dakota -- And It's Time For a New Poll
Down to 203 today; record high was 218 for this boom.
Sounds like it is time for a new poll.
Here are the results of the last poll, in which we asked: "Do you agree with the proposition, that if you've got a business, you didn't build that. Someone else did."
Overwhelmingly, "are you kidding?" was the #1 response at nearly 60%. About 10% of folks must have misread/misunderstood the question, by answering "yes." Some people continue to think what the president said was taken out of context. Thank you for YouTube running the entire segment, not just the sound bite.
So, for the new poll: The number of active rigs in North Dakota continues to fall. Today "we" are down to 203 from a record high of 218. Many Bakken operators have said they will be cutting back on number of rigs. There are so many ways to look at this and so many questions that could be asked, but I will simply ask: Is this good for "North Dakotans" that the active rig count is decreasing?
Sounds like it is time for a new poll.
Here are the results of the last poll, in which we asked: "Do you agree with the proposition, that if you've got a business, you didn't build that. Someone else did."
Overwhelmingly, "are you kidding?" was the #1 response at nearly 60%. About 10% of folks must have misread/misunderstood the question, by answering "yes." Some people continue to think what the president said was taken out of context. Thank you for YouTube running the entire segment, not just the sound bite.
So, for the new poll: The number of active rigs in North Dakota continues to fall. Today "we" are down to 203 from a record high of 218. Many Bakken operators have said they will be cutting back on number of rigs. There are so many ways to look at this and so many questions that could be asked, but I will simply ask: Is this good for "North Dakotans" that the active rig count is decreasing?
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