United States Oil Message Board
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25% of US Nat Gas consumed iis Discarded by Flaring-Decreased rigs & production mean nothing.
by sckvuzooo •May 9, 2013 11:26 PMI thought they need a permit to flare NG and that the U.S isn't giving out anymore permits to flare, I hope flaring stops as NG supply will go much higher, I will check the EIA and see what the new rules are, thanks
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Looks like your crash is coming, Republicans pass bill to pay bondholders first if debt cap hit
ReutersBy Rachelle Younglai | Reuters – 5 hrs ago..
By Rachelle Younglai
WASHINGTON (Reuters) - Republicans in the House of Representatives passed a bill on Thursday, over the threat of a White House veto, that would allow the government to borrow money to pay bondholders and retirees if Congress fails to reach a deal to raise the U.S. debt ceiling.
The legislation is not expected to move forward in the Democratic-controlled Senate, but what is essentially a tactical maneuver will allow the Republicans who control the House to argue they have done their best to avoid a potential credit default and repeat of 2011's debt limit fight.
"Financial markets ought to be confident that their Treasury bonds are safe, regardless of what political storms are raging in Washington," said Republican Representative Tom McClintock of California.
The bill, which passed 221-207 with no Democratic support, would essentially raise the debt ceiling for only two payments: interest and principal on government bonds as well as Social Security retirement benefits. Other government bills would be paid by incoming revenue until there was no more cash remaining.
The White House said it would veto the bill and Democratic lawmakers called it the "pay China first" legislation as the Asian country holds more than $1.2 trillion in U.S. government bonds and is America's largest foreign creditor.
A number of Republicans also opposed the bill and said it would allow the United States to incur more debt - the very problem Republicans say they want to solve.
"It is a debt limit increase, and I think many do not realize that," said Kentucky Representative Thomas Massie, one of eight Republicans who voted against the bill. "Instead of helping to bring the national debt under control, this bill will only make a bad problem worse."
By the end of next week, the Obama administr -
When reading Baker Hughs rig count, old wells are called DIRECTED RIGS as shown, but Shale rigs as in horizontal/directional rigs are under RIG COUNT BY TYPE , we would be importing NG heavily if we went with Direct Rigs,,,,,,,,,,,,,, Natural Gas Rig Count: Natural gas rig count decreased for the second time in as many weeks to 354 (a drop of 12 rigs from the previous week). As per the most recent report, the number of natural gas-directed rigs is at their lowest level since Jun 16, 1995 and is down 56% from its 2012 peak of 811.
The current natural gas rig count remains 78% below its all-time high of 1,606 reached in late summer 2008. In the year-ago period, there were 606 active natural gas rigs.
Rig Count by Type: The number of vertical drilling rigs rose by 4 to 475, while the horizontal/directional rig count (encompassing new drilling technology that has the ability to drill and extract gas from dense rock formations, also known as shale formations) was up by 6 to 1,289. In particular, horizontal rig units – that reached an all-time high of 1,193 in May 2012 – rose by 8 from the last week’s level to 1,092. -
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Republicans pass bill to pay bondholders first if debt cap hit
ReutersBy Rachelle Younglai | Reuters – 5 hrs ago..
By Rachelle Younglai
WASHINGTON (Reuters) - Republicans in the House of Representatives passed a bill on Thursday, over the threat of a White House veto, that would allow the government to borrow money to pay bondholders and retirees if Congress fails to reach a deal to raise the U.S. debt ceiling.
The legislation is not expected to move forward in the Democratic-controlled Senate, but what is essentially a tactical maneuver will allow the Republicans who control the House to argue they have done their best to avoid a potential credit default and repeat of 2011's debt limit fight.
"Financial markets ought to be confident that their Treasury bonds are safe, regardless of what political storms are raging in Washington," said Republican Representative Tom McClintock of California.
The bill, which passed 221-207 with no Democratic support, would essentially raise the debt ceiling for only two payments: interest and principal on government bonds as well as Social Security retirement benefits. Other government bills would be paid by incoming revenue until there was no more cash remaining.
The White House said it would veto the bill and Democratic lawmakers called it the "pay China first" legislation as the Asian country holds more than $1.2 trillion in U.S. government bonds and is America's largest foreign creditor.
A number of Republicans also opposed the bill and said it would allow the United States to incur more debt - the very problem Republicans say they want to solve.
"It is a debt limit increase, and I think many do not realize that," said Kentucky Representative Thomas Massie, one of eight Republicans who voted against the bill. "Instead of helping to bring the national debt under control, this bill will only make a bad problem worse."
By the end of next week, the Obama administr -
When reading Baker Hughs rig count, old wells are called DIRECTED RIGS as you shown, but Shale rigs as in horizontal/directional rigs are under RIG COUNT BY TYPE , we would be importing NG heavily if we went with Direct Rigs,,,,,,,,,,,,,, Natural Gas Rig Count: Natural gas rig count decreased for the second time in as many weeks to 354 (a drop of 12 rigs from the previous week). As per the most recent report, the number of natural gas-directed rigs is at their lowest level since Jun 16, 1995 and is down 56% from its 2012 peak of 811.
The current natural gas rig count remains 78% below its all-time high of 1,606 reached in late summer 2008. In the year-ago period, there were 606 active natural gas rigs.
Rig Count by Type: The number of vertical drilling rigs rose by 4 to 475, while the horizontal/directional rig count (encompassing new drilling technology that has the ability to drill and extract gas from dense rock formations, also known as shale formations) was up by 6 to 1,289. In particular, horizontal rig units – that reached an all-time high of 1,193 in May 2012 – rose by 8 from the last week’s level to 1,092. -
I remember that story, its funny all these countries have huge amounts of NG and we have companies that what to export LOL Africa has huge amounts of NG that oil companies bought and will sell to nations cheaper then we can. The rig companies will get paid handsomely to teach China and other countries how to extract it.
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The new shale gas rig count by Baker Hughs is separate from the old rigs,read Natural Gas rig count then read then read RIG COUNT BY TYPE which you should be watching,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, , Natural Gas Rig Count: Natural gas rig count decreased for the second time in as many weeks to 354 (a drop of 12 rigs from the previous week). As per the most recent report, the number of natural gas-directed rigs is at their lowest level since Jun 16, 1995 and is down 56% from its 2012 peak of 811.
The current natural gas rig count remains 78% below its all-time high of 1,606 reached in late summer 2008. In the year-ago period, there were 606 active natural gas rigs.
Oil Rig Count: The oil rig count – that rocketed to a 25-year high of 1,432 in Aug last year – jumped by 22 to 1,403. The current tally is well above the previous year’s rig count of 1,355. It has recovered strongly from a low of 179 in Jun 2009, rising 7.8 times.
Miscellaneous Rig Count: The miscellaneous rig count (primarily drilling for geothermal energy) at 7 remained unchanged from the previous week.
Rig Count by Type: The number of vertical drilling rigs rose by 4 to 475, while the horizontal/directional rig count (encompassing new drilling technology that has the ability to drill and extract gas from dense rock formations, also known as shale formations) was up by 6 to 1,289. In particular, horizontal rig units – that reached an all-time high of 1,193 in May 2012 – rose by 8 from the last week’s level to 1,092. -
China has about twice the estimated shale gas reserves as the U.S., but commercial production has been slow to ramp up on the mainland—because of a combination of challenging geology and an inflexible industry structure. Analysts predict it will be anywhere from three years to two decades before China’s commercial shale gas boom arrives.
In the meantime, Chinese companies have invested $5.5 billion in U.S. tight oil and shale gas through joint-venture deals, according to data compiled by the U.S. Energy Information Administration. (The figures do not include other Chinese investments in Canada.) “They are not after developing the gas for profit, but after the idea of learning the technology,” says EIA energy economist Aloulou Fawzi. “They want to learn the technology and have a partner that may help them later to develop their own [domestic] shale resources.”
It’s not just Chinese firms that are seeking to profit from America’s energy boom. Roughly 20 percent of the $133.7 billion invested in U.S. tight oil and shale gas from 2008 to 2012 came from abroad. To date, from Asia, Japanese companies have invested $5.3 billion; Indian companies $3.55 billion; and Korean companies $1.55 billion. From Europe, U.K. companies have invested $3.95 billion; French companies $4.55 billion; and Norwegian companies $3.38 billion. Fawzi believes the European companies have different aspirations than the Chinese: “My observation is that they have a lot of cash to recycle but not so many upstream [oil and gas development] opportunities in the rest of world.”
Notably, the U.S. partners in these joint ventures have not been energy majors like ExxonMobil (XOM), but rather, independent and midsize players such as Pioneer Energy Services (PES), Chesapeake Energy (CHK), and Hunt Oil. “Foreign companies, especially in Asia, are learning the techniques, while U.S. oil and gas companies without deep pockets can solve some of their financial issues,” says Fawzi.
Melanie Hart, an analyst at -
Cathy most of those nuclear plants are located in warmer states as this was the month for maintance
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Look at WLT, JRCC, ACI,ANR the coal companies are doing better and seeing JRCC which should of been bankrupt jumping and still staying in business means the coal switching is getting bigger, we will see, good luck everyone
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BAC just got hammered by RAN an environmental group at BAC meeting for lending money to coal companies and utility companies that burn coal, heres part of the story,,,
"Bank of America has been a top funder of the coal industry while they've also really pushed an image as a green bank," Dyer said in a phone interview.
Moynihan said during the meeting that he had met with RAN, and that Catherine Bessant, one of the bank's top executives and chair of its Environmental Council, had met with the group within the past week. He also referred to a $50 billion environmental business initiative the bank announced in 2012.
RAN's Ben Collins, author of a report entitled "Extreme Investments: U.S. Banks and the Coal Industry," said the organization did not target Citigroup (C_) at its recent meeting, and will not target JPMorgan Chase (JPM_) when it holds its meeting later this month.
The RAN report gives all three companies a "D" grade, though it argues Bank of America provided the most financing to companies that engage coal fired power production and a type of coal mining known as mountain top removal (MTR) that environmentalists find particularly problematic. According to the report, which cites Bloomberg data, Bank of America provided $3.03 billion worth of financing in 2012 to companies RAN considers the worst offenders, versus $2.75 billion for Citigroup (C_) and $2.17 billion for JPMorgan Chase (JPM_).
"Our principal focus is on Bank of America because if you look at the numbers, the other two banks are nipping at their heels but Bank of America is the top lender and we see an opportunity for them to strengthen their policies and strengthen their practices to really address their coal problem," Collins says. Wells Fargo (WFC_), he said, has improved its policies, earning it a "C" grade.
Coal companies RAN found engaged in "significant MTR production in 2012" included ArcelorMittal (MT_), CONSOL Energy (CNX_) and TECO Energy (TE_). - Reply to
According to B.Pickens,Fracking is Innocuous. What about the Arsenic ?
by jbronchato •May 7, 2013 3:55 PMSo what your saying smoking pot is less harmful?
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We will have plenty of oil then LOL,,, The House will consider — and likely pass — a bill this month to expedite construction of the Keystone XL oil sands pipeline, Majority Leader Eric Cantor (R-Va.) said in a Friday memo.
“In line with our underlying principles for legislation and our goal of helping make life work for American families and businesses, I expect the House to have a full legislative agenda in May. We will push the administration to finally approve the Keystone pipeline delivering much needed jobs and lower energy prices for families,” the memo said.
The legislation would circumvent President Obama’s authority to issue a cross-border permit needed to complete Keystone’s northern leg.
It's expected to pass with full Republican support and the backing of some centrist Democrats who say Keystone will create jobs and bring oil from an ally.
Known as the Northern Route Approval Act (H.R. 3), it passed the House Energy and Commerce Committee by a 24-17 vote last month.
Republicans have accused Obama of delaying a decision on the Canada-to-Texas pipeline, which is currently under federal review.
“The Obama administration is preventing the construction of the Keystone XL pipeline,” Cantor said, explaining the Northern Route Approval Act would “ensure that the Keystone XL pipeline is built without any further delay.”
The president is in a prickly position — some unions in his base want to greenlight the project, while environmentalists oppose it. Meanwhile, a majority in both the House and the Senate endorse Keystone.
Follow us: @thehill on Twitter | TheHill on Facebook -
The rest of the story,,and elsewhere are plagued by high levels of corruption and conflict alongside their energy and mineral wealth.
The SEC rule has drawn an ongoing legal challenge from oil industry and business groups, who contend it will create costly burdens and hand a competitive advantage to state-owned Russian and Chinese companies that aren’t bound by the mandates.
Europe’s action drew cheers Tuesday from human rights groups and activists – including U2 front-man Bono, the co-founder of the anti-poverty and public health group ONE, which is focused on Africa.
“Europe’s leaders have stepped up and delivered a game-changing breakthrough tonight. Transparency is one of the best vaccines against corruption, and now citizens the world over will know what their country’s resources are really worth,” he said.
Oxfam America, which has championed the transparency rules, said the European plan goes further then the U.S. requirements “by requiring both public and privately-held companies to disclose their payments.”
The group Transparency International said the U.S. and European rules combined will cover 90 percent of the world’s major international extractive companies, according to a Wall Street Journal report from Brussels on the rules. -
heres more on the Story,,, Sen. Ben Cardin (D-Md.) said Tuesday that new European Union rules forcing petroleum companies to disclose payments to foreign governments will harmonize EU policy with the U.S. , which has adopted separate disclosure rules that Cardin helped create.
“Congratulations to the [European Union] for enacting strong transparency rules for oil, gas and mining companies. Now the U.S. and the EU are united in strengthening financial markets and fighting the scourge of corruption in resource-rich countries,” Cardin said on his Faceboook page.
Cardin and former Sen. #$%$ Lugar (R-Ind.) inserted language into the 2010 Dodd-Frank financial law that will force oil and mining companies to divulge, in filings with U.S. regulators, payments to governments in countries where they have projects.
European Union officials struck a preliminary deal Tuesday creating disclosure requirements for oil-and-gas, mining and logging companies. Both sets of rules are aimed at increasing transparency in resource-rich, developing countries.
“The agreement on the disclosure requirements for the extractive and forestry industries shows how EU legislation can be a catalyst for change in developing countries. Local communities in resource-rich countries will finally be better informed about what their governments are being paid by multinationals for exploiting oil and gas fields, mineral deposits and forests,” said Michel Barnier, the European Commissioner for Internal Market and Services.
The European deal follows the U.S. Securities and Exchange Commission’s rules made final last year.
The U.S. rules will force SEC-listed petroleum and mining companies, in filings with the SEC, to reveal new information about for production licenses, royalties and various other aspects of energy and mining projects.
The U.S. and European mandates are aimed at increasing transparency to help undo the “resource curse,” in which some impoverished countries in Africa and elsewhere are -
Oil companies are at their highest but Oil Companies do not disclosed money given to other countries, Frank Dodd law went into affect and SEC isn't making oil companies disclose their spending that cosy American tax payers, here is part of the story,,
Judge seeks fast action on challenge to SEC oil disclosure rule
By Ben Geman - 05/06/13 10:52 AM ET
A federal judge hopes to move quickly on industry litigation challenging Securities and Exchange Commission (SEC) rules that will force oil, gas and mining companies to disclose payments to foreign governments.
The case is proceeding in the U.S. District Court for the District of Columbia Circuit because appellate judges ruled in late April that the case should begin there.
In a Friday order, District Judge John Bates said he’ll consider the industry challenge to the 2012 rule based on the same briefs that were previously filed before the appeals court. He ordered the industry groups and the SEC to file them with the lower court by May 10.
The process laid out Friday is the latest development in a legal fight that pits the American Petroleum Institute and the U.S. Chamber of Commerce against the SEC. Click here and here for more on the case. -
Supplies are up less then expected but they forget to tell you we are out of storage room LOL Storage is at its highest level in 84 years, heres the API report,,,,,,,,, By Myra P.
SAN FRANCISCO (MarketWatch) -- Crude-oil supplies rose much less than the analysts expected for the week ended May 3, according to data from the American Petroleum Institute issued late Tuesday. Crude supplies rose 680,000 barrels, while a Platts survey of analysts showed a forecast for a 1.9 million-barrel climb. Gasoline inventories fell 186,000 barrels and distillate stockpiles rose by 1.1 million barrels. Analysts were looking for a decline of 750,000 barrels in gasoline inventories and a rise of 1 million barrels for distillate supplies. The API data come ahead of the more closely watched U.S. Energy Information Administration report due Wednesday. Ahead of the API report, June crude /quotes/zigman/2237076 CLM3 -0.21% fell 0.6% to settle at $95.62 a barrel. -
Last year X sold there Serbia plant to the Serbia government for a dollar, they had a lost of 43 million this year on the Serbia plant, best thing X did was get rid of the plant at a lost. Also X sells 84 percent of all tubing in the U.S that where they made their money to help them and tubing is in high demand this year. Also X is doing a close in on the Canadian steel plant as its losing money there and workers are demanding more pay and better benefits and X refuses.
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Hello Don I am glad you caught it also, putting up old articles can mislead everyone, put I couldn't find a way to delete this post, have a great evening
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forget this story, it has been updated to mislead people from Alpha seeking, states May 6th but its an August story.