Gov. Jerry Brown has fired the state’s top two oil and gas production regulators.'bout time.
On Thursday, Derek Chernow, acting director of the California Department of Conservation, and Elena Miller, head of the Division of Oil, Gas and Geothermal Resources, received pink slips from the administration.
The ousters, first reported by the Bakersfield Californian, come as the oil industry spars with state regulators over delays in the permitting process for new drilling projects. According to Bloomberg, the state has granted permits to 14 projects this year out of 199 applications received.
Friday, November 4, 2011
Absolutely Nothing To Do With The Bakken -- California Governor Moonbeam Fires State Oil Regulators
Link here.
Fox News -- Williston's Housing Shortage
The file footage of Williston is very, very old. I find it incredible how poor the coverage can be.
Video here.
Again, the stock question was asked: "are you worried about the boom/bust cycle." If folks actually looked at the four previous booms in the Williston Basin and compared that history with what is going on now, and if these folks would actually look at the building that's going on now, the question about the boom/bust cycle would go away.
Somehow we need to move from "are you worried about a bust?" Why would there be a bust?
The Bakken is the biggest continuous oil field in the continental United States. There are least two more formations in addition to the Bakken, and one of them may be bigger than the Bakken. Nothing suggests to me that the price of oil is headed down. Nothing suggests to me that the US will use less oil going forward. Nuclear power is dead in Japan, Germany, and now Mexico. Solar and wind are nothing more than niche energy plays.
The big question is when will "boom" become "ka-boom" or have we already seen it? I don't think so. I think 2012 will be bigger than 2011 in terms of news events in the Bakken: production, number of active rigs, fracking, mergers, buyouts.
Except for building permits, I think all other metrics in the Williston Basin in 2012 will surpass those of this year.
Video here.
Again, the stock question was asked: "are you worried about the boom/bust cycle." If folks actually looked at the four previous booms in the Williston Basin and compared that history with what is going on now, and if these folks would actually look at the building that's going on now, the question about the boom/bust cycle would go away.
Somehow we need to move from "are you worried about a bust?" Why would there be a bust?
The Bakken is the biggest continuous oil field in the continental United States. There are least two more formations in addition to the Bakken, and one of them may be bigger than the Bakken. Nothing suggests to me that the price of oil is headed down. Nothing suggests to me that the US will use less oil going forward. Nuclear power is dead in Japan, Germany, and now Mexico. Solar and wind are nothing more than niche energy plays.
The big question is when will "boom" become "ka-boom" or have we already seen it? I don't think so. I think 2012 will be bigger than 2011 in terms of news events in the Bakken: production, number of active rigs, fracking, mergers, buyouts.
Except for building permits, I think all other metrics in the Williston Basin in 2012 will surpass those of this year.
Absolutely Nothing To Do With The Bakken -- Let the Guessing Begin --
What international major energy company will form a joint venture with Chesapeake Energy Corp. and acquire a 25% interest in 650,000 net acres in the wet natural gas area of the Utica shale play in eastern Ohio?
I assume one can consider ExxonMobil an international energy company. CNOOC? Based on relationships in Eagle Ford, that's my guess.
This was almost two years ago to the day:
I assume one can consider ExxonMobil an international energy company. CNOOC? Based on relationships in Eagle Ford, that's my guess.
This was almost two years ago to the day:
Chesapeake Energy Corp.and CNOOC Ltd. have closed on the project cooperation that gives CNOOC International Ltd. a 33.3% undivided interest in Chesapeake's 600,000 net oil and natural gas leasehold acres in the Eagle Ford Shale in South Texas.
GDP Back -- And I'll Wager It's Due In Part To Cell Phones
Link here.
GDP has made a complete recovery and is above its pre-recession level for the first time -- 3Q11 and unemployment is still almost 7 million below pre-recession peak.I've said more than once the unemployment is due to tectonic shifts in the way America does business. I would wager that cell phones are a huge component of why America's productivity is greater than ever despite huge unemployment.
In other words, according to Carpe Diem, the US is producing more output now than ever before in U.S. history, but we're doing it with 6.6 million fewer workers than it took to produce roughly that same output in Q4 2007.
At Some Point ....
The approaching $15 trillion debt milestone is not even the only piece of bad economic news for the country. The jobs report for October – released this morning – showed that U.S. employers added an estimated 80,000 jobs to their payrolls last month, worse than economists expected. The unemployment rate decreased to 9.0 percent, down from 9.1 percent a month earlier, small consolation for a nation still struggling to recover from a severe recession.Earlier today it was reported that the rate ticked down (from 9.1 to 9.0) because more folks found jobs. The numbers don't add up. The rate ticked down because fewer people said they were looking for jobs. They've given up and as we approach the holidays, who wants to be looking for jobs that don't exist? Except in North Dakota. The unemployment rate in Williston is 0.9 percent. No doubt that is a record.
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