Iraq

This article at The Oil Drum discusses Iraq. The article mentions that at least one more article will follow.

I post it because it provides a comparison of the Bakken with Iraq which is now the #2 oil producer in OPEC, having surpassed Iran last year.

In Iraq, there is a northern oil region (Kurdish) and a southern oil region (Shiite). The following pertains to the Kurdish region:

In recent times Euan Mearns has written of the potential for oil production in the Kurdish region in the north. In total this is estimated to hold around 4 billion barrels of oil, or around 17% of the national reserve. However, as exploration of the potential fields in Kurdistan continues, this estimate has been increased by the local government to a possible 45 billion barrels. Euan, for example, wrote about the development of the Shaikan oil field and the potential size of between 8 and 13.4 billion barrels that it showed in January 2012. Current plans are for production to reach 40,000 bpd “soon”, with production ramping up to 400,000 bpd.

The Kurdistan Regional Government (KRG) see it playing a considerable role in achieving their target of 400 kbd this year, 1 mbd by 2015, and 2 mbd by 2019.

The field is being developed by Gulf Keystone Petroleum.

The article alludes to factors that could limit Iraqi oil production, some of the same "factors" that I've suggested could limit Saudi production. 

Such Irony -- It Jus Dawned On Me -- Emissions Scorecard For 2012

DW is reporting:

• China: up 3.8%; 300 million tons in 2012; one of the lowest increases seen in decades
• US: down 3.8%; decreased yoy emissions by 200 million tons
• EU: down 1.4%; despite increased use of coal; due to protracted economic slowdown
• Japan: no percent given, but emissions jumped 70 million tons

It looks like Japan is the outlier here. Such irony then, that it is the KYOTO Protocol.

Japan population: 130 million.
China population: 1.4 billion.
130 million / 1,400 million = 9%

Japan has less than 10% of the Chinese population, and yet, at 70 million tons, Japan's emissions are almost a quarter of what China emits. 

Oil Keeps Pouring Out Of The Bakken -- Motley Fool -- For Investors Only

A nice article even though, in the end, it's like an infomercial on television: information is provided but for "the rest of the story," a paid subscription is required. But, the infomercial is what it is. Oil companies highlighted: CLR, KOG, Halcon, EOG, and MRO. Again, Motley Fool points out some warning signs with KOG, as has Mike Filloon.

Disclaimer: this is not an investment site. Do not make any investment decisions based on what you read here or what you think you might have read here.

Ten (10) New Permits -- The Williston Basin, North Dakota, USA; Note The CLR Brooklyn Oil Field Well With 4-Section Spacing; Statoil Has Some Interesting Wells Getting Ready To Spud; Wells Coming Off Confidential List Tuesday

Active rigs: 186 (trending down)

Ten (10) new permits --

• Operators: CLR (4), Oasis (3), Whiting (2) XTO,
  Fields: Cow Creek (Williams), Dollar Joe (Williams), Sanish (Mountrail), Siverston (McKenzie)
• Comments:

Wells coming off confidential list were posted/tweeted earlier; see sidebar at the right.

One (1) producing well was completed:

• 23220, 475, CLR, Rennerfeldt 3-30H, Brooklyn, t5/13; cum --; 4 sections

One (1) permit canceled:

• 25733, PNC, Triangle, Arnegard 150-100-14-23-4H, 

These will be interesting wells to follow, resurveyed:

• 25087, conf, Statoil, Edna 11-2 6H, Camp, 
• 25088, conf, Statoil, Edna 11-2 4TFH, Camp, 
• 25089, conf, Statoil, Edna 11-2 3H, Camp, 
• 25090, conf, Statoil, Edna 11-25TFH, Camp, 
• 25091, conf, Statoil, Bill 14-23 3H, Alexander, 
• 25092, conf, Statoil, Bill 14-23 5TFH, Alexander, 
• 25644, conf, Statoil, Bill 14-23 6H, Alexander, 
• 25645, conf, Statoil, Bill 14-23 4TFH, Alexander,  

Coming off confidential list on Tuesday:

• 23457, drl, Hess, BB-Budahn A-150-95-0403H-2, Blue Buttes
• 24163, 759, Enerplus, Cirrus 149-94-33D-28H, Eagle Nest; t4/13; cum 13K 4/13;

Apparently Chicago, Maybe Illinois, Will Move Retired City Employees Off City Rosters Unto ObamaCare Rolls

Chicago will save $800 million -- CNBC.

Blue states, blue cities will benefit the most -- CNBC.

Cue up Connie Francis.

IllinoisReview is reporting:

SPRINGFIELD - Would Chicago abandon its public safety retirees to nationalized health care? Quietly, this week, the Illinois legislature passed a measure that could force Chicago retirees off private health care an onto the public exchanges being set up.

SB 1584 passed the Illinois Senate Thursday after passing the Illinois House Wednesday, and is now on its way to the governor's desk. The Fraternal Order of Police opposed the measure.

WGN Radio is reporting: 

A plan to phase out city subsidized health insurance coverage will shift about 30,000 city workers to private coverage or to seek subsidies from the Affordable Care Act, better known as Obamacare.

The plan is aimed at saving the city money as it wrestles with an $805 million shortage in retiree health care funds. This comes as the city’s guaranteed health care coverage mandate comes to an end at the beginning of next year.

Emanuel’s decision is raising the ire of city union employees, with some saying the mayor is playing games.

The retirees will move to a system they knew, to a system they do not know; and, all of us will pay for their generous benefits. Train wreck.

My hunch is this will end up in court.