Check Out The Winds Tonight, To See A Real Nor' Easter -- January 27, 2015

Link here (a dynamic link). You can click on the map and see the instantaneous wind speed.

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Why Ocean Warming And Sea Level Rise From CO2 Is Not Possible 

Dutch Scientists

In Plain English

The Dutch "Climate Fraud" site explains why infrared back-radiation from greenhouse gases cannot heat the oceans or cause sea-level rise from thermal expansion, including:

• RealClimate admits doubling CO2 could only heat the oceans 0.002ºC at most 
• Why Greenhouse Gases Won't Heat the Oceans
• Yes, the ocean has warmed; no, it’s not ‘global warming’ And warm water does not sink

Thank Goodness CO2 Doesn't Cross International Borders -- January 27, 2015

The country that is just off the radar screen it seems: India. And India won't buy into President Obama's global warming crusade.

BBC News is reporting:

India has already embarked on a major plan that would actually increase its carbon output.

The new government wants to double coal production - the dirtiest of fossil fuels - to one billion tonnes annually within five years.

"Increasing domestic production of coal will be a big step towards long-term energy security of India," Indian power minister Piyush Goyal.

"India has the third largest coal reserves in the world, yet we import billions of dollars of thermal coal, impacting our foreign exchange reserves."

More than 80% of electricity generation in India comes from fossil fuels and the power sector consumed nearly 70% of the coal the country produced in 2011.

With an installed electricity generation capacity of nearly 250 gigaWatts (gW), it plans to add more than 70 gW to its grid by 2017, with almost all of it from coal-fired power plants.

As India's National Planning Commission says: "The dominance of coal in the energy mix is likely to continue in foreseeable future."

Seven (7) New Permits -- January 27, 2015; 3/5 Wells To DRL Status

Wow, that was fast. President Obama announced his intentions to end the "529 College Savings Program" for middle class Americans in his address, January 20, 2015. Today it is announced he has changed his mind; won't end the program.  Changed his mind in one week.

Tweeting now, the storm:

With 23.3 inches of snow reported in Boston, blizzard becomes city's 6th biggest storm. 

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Active rigs:

	1/27/2015	01/27/2014	01/27/2013	01/27/2012	01/27/2011
Active Rigs	154	187	190	204	164

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

Seven (7) new permits:

• Operators: XTO (2), Hess (2), CLR (2), Whiting
• Fields: Garden (McKenzie), Blue Buttes (McKenzie), Capa (Williams), Pershing (McKenzie), Sanish (Mountrail)
• Comments:

Wells coming off confidential list Wednesday:

• 27206, 277, EOG, Parshall 51-1114H, Parshall, another well with an interesting production profile, t8/14; cum 50K 11/14;
• 27424, 1,869, Whiting, Talkington Federal 41-25PH, Park, t8/14; cum 71K 11/14;
• 28549, drl, XTO, Schettler 14X-9G, Cedar Coulee, no production data,
• 28679, drl, CLR, Bjella 3-13H1, Northwest McGregor, no production data,
• 28776, drl, XTO, Ranger 21X-18G, Tobacco Garden, no production data,
  

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27424, see below, Whiting, Talkington Federal 41-25PH, Park:

Date	Oil Runs	MCF Sold
11-2014	13429	19235
10-2014	16361	22791
9-2014	18554	26288
8-2014	22357	4006

Apple Crushes Expectations -- January 27, 2015; Revenues Of $75 Billion In Three Months -- Compare With Google ($66 Billion In A Full Year)

Crushes earnings.

Apple sold 74.4 million iPhones, up 46% compared to the year prior, its biggest ever quarter by 23.4 million units. Analysts were only expecting 65 million units sold.

The strength of the iPhone business led to Apple delivering $74.6 billion in revenue, up 30% year-over-year, soundly beating expectations of $67.5 billion in revenue. 

Apple's net income for the quarter was $18 billion, which is most ever earned by a company in history.

The stock is up 5% after market. 

Apple said it collected $74.6 billion in sales, up 30% from last year, and net income of $18 billion, up 37%, in its fiscal first quarter -- its biggest of the year. Earnings per share hit $3.06 versus expectations of $2.60.

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More Apple

Here, via Bloomberg, is what analysts are expecting :

• Revenue:  $67.5 billion, which would be up 17%  year over year. Actual: $74.6 billion, up 30% over last year.
• Earnings Per Share:  $2.60, which would be up 25% year over year. Actual: $3.06.
• iPhone units:  65 million, which would be up 27% year over year  (whisper number is closer to 69 million). Actual: 74.5 million.
• iPhone average selling price (ASP): $668 (it was $602.92 for the previous quarter).
• iPad units:  22 million, down 14% year over year. Actual: 21.4 million.
• iPad ASP: $436
• Mac units:  5.5 million units, up 15% year over year. Actual: 5.5 million.
• iPod units: 3.5 million.
• Gross Margin:  38.5%. Actual: 39.9%
• March quarter revenue guidance:  $53.70 billion. Actual: $52 - $55 billion.

To put these numbers in context, analysts estimate Google did $66.4 billion in revenue for all of 2014. Apple is going to generate more revenue in a three-month period if it meets analyst expectations.

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Hillary MIA

Link here.  This is quite interesting. The writer failed to mention the most likely reason that Hillary has not been seen for quite some time: some minor plastic surgery. Some work on her crow's feet; some neck tightening; some eyelid lifts. She will look different the next time we see here; it won't be major but it will be noticeable.

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Warren Beats IRS (Again)

Link here.

NetJets Inc, the private jet-sharing company owned by Warren Buffett's Berkshire Hathaway Inc, has defeated a U.S. Internal Revenue Service lawsuit attempting to recoup more than $500 million of unpaid taxes, penalties and interest.

U.S. District Judge Edmund Sargus in Columbus, Ohio, said on Monday that the IRS was bound by guidance it gave a NetJets predecessor in 1992 over when to collect federal transportation excise taxes, and could not impose more taxes retroactively.

The judge's 37-page decision was not a complete victory for NetJets. Sargus rejected a claim by the company that it deserved a $219.5 million refund plus interest on taxes already paid because its services were not "taxable transportation."

Good for him.

Hess Cuts Budget By 16 Percent, Keeps Most Spending In Bakken - Reuters Headline -- January 27, 2015

Link here. In-line with earlier posting on the blog.

Oil and natural gas producer Hess Corp cut its capital budget by 16 percent on Monday, saying it has balanced concerns about slipping crude prices with growth projects in places like North Dakota crucial to the company's future.

The oil industry is grappling with a more-than 60 percent drop in crude oil prices since last June amidst global oversupply concerns, with many producers opting to sharply reduce spending and hope for a price rebound.

In that context, the decision by Hess to only cut 16 percent of its budget was a far-less dramatic step than peers. Continental Resources Inc, for instance, slashed its 2015 budget by nearly 50 percent.

Hess, which operates in the U.S. Gulf of Mexico, Denmark and Norway, among other places, plans to spend $4.7 billion this year.