Last May, things looked so bleak in the Texas oil patch that the service company Halliburton decided to write a $3.5 billion check to get out of a planned merger with its major rival, Baker Hughes. The deal had made some sense when it was signed, in November 2014, but a year and a half later the companies’ rationale fell apart as crude oil prices experienced a precipitous, months-long slide. The merger’s demise was just one of many indications that the oil and gas sector was in the midst of its worst bust in three decades. In Texas, the average
The current Fracking process drills a single hole down and then christmas trees out horizontally at the different shale levels. This dramatically cuts pipe usage. They also reuse water which dramatically reduces deliveries. And, cuts down on the amount of fracking fluid. Plus - thanks to 4D seismic data - it has been over 2 years since a dry hole was drilled.
And, one rig is now producing as much oil as 3 rigs just 3 years ago. So, rig counts are no longer a reliable year to year comparison.
AND - fracked natural gas has replaced fuel oil (#2, #3 and #4) in NYC and according to Scientific America - the air quality has improved SO much that it is saving lives.
Have a friend here in East Texas who owned a tool and equipment rental service (drilling, fishing, completion, site prep, etc.). When things were going hot he became big enough to be an irritant to a humongous company that bought him out at an unbelievable price. That big company has been selling off that equipment over the past couple of years since things went south in the oil field. Guess who is buying it up at pennies on the dollar getting ready for the big rebound? Things are already coming back and it will be small businesses that can act quickly that will be profiting big-time.
The price of oil has risen recently only because OPEC has decided to cut output. The trouble with that is, all those fracking wells that were shut down because of the price of oil, are about to come back online. When they do, OPEC´s cutback won´t amount to much, because while those wells were shut down, technology found a way to extract oil from those wells at an even lower price.
Great news for jobs, the economy and our country as a whole.
Puts our foot in the face of the Saudis and cripples the Russians who have very, very little beyond selling natural resources like oil, gas, iron, gold, platinum. Not much that they manufacture is wanted anywhere else. A few aircraft, some other weapons, but their client states keep getting badly beaten in wars, not a great advertisement for their stuff.
President Trump on Tuesday defended revealing sensitive information to top Russian diplomats, saying in pair of early morning tweets that he has an "absolute right" to do so. Trump tweeted that he shared the information with the Russians for “[h]umanitarian reasons, plus I want Russia to greatly step up their fight against ISIS & terrorism." He said he wanted to provide Russia with “facts pertaining...to terrorism and airline flight safety," something that he has “the absolute right to do” as commander in chief. Trump also vented his frustration that, once again, details from his conversations with foreign dignitaries leaked to the press. “I have
Ector is a sleepy blink-and-you’ll-miss-it kind of place surrounded by freshly plowed fields and cattle pastures, ten miles south of the Red River, in Fannin County. The town’s one gas station doubles as its only restaurant, and in the back of it there’s a smoke-filled gaming room where patrons can earn store credit while they catch up on the latest scuttlebutt. It’s a practical town, populated by ranchers, teachers, and prison guards, and is not known for its glitz. So when a 65-foot marble and concrete fountain ringed by mermen and horses started going up in a pasture just to
The three people involved in effecting the termination of FBI director James Comey last week were President Donald Trump and the two highest officers in the Justice Department, Attorney General Jeff Sessions and Deputy Attorney General Rod Rosenstein. The Constitution vests in Trump the executive power, which he employs in fulfilling his constitutional obligation to take care that the laws are faithfully executed. He works through subordinates in exercising his power, and only he may fire them. Thus did Trump, in a brief letter to Comey, fire the director: "you are hereby terminated and removed from office." Trump told Comey
White Americans carried Donald Trump to the White House. He won college-educated white voters by a four-point margin over Hillary Clinton, according to exit polls. But his real victory was among members of the white working class: Twice as many of these voters cast their ballots for the president as for Clinton. In the wake of Trump’s surprise win, some journalists, scholars, and political strategists argued that economic anxiety drove these Americans to Trump. But new analysis of post-election survey data conducted by the Public Religion Research Institute and The Atlantic found something different: Evidence suggests financially troubled voters in
The company owned by Jared Kushner’s family apologized on Monday for touting the son-in-law of President Trump in a sales pitch during an investor conference over the weekend in China. Nicole Kushner Meyer, the sister of the key White House adviser, raised her brother’s connections to the Trump administration while seeking to raise money from Chinese investors through a government visa program for foreigners who invest in US projects. Jared Kushner´s sister woos Chinese investors with green card program Jared Kushner´s sister woos Chinese investors with green card program “In 2008, my brother Jared Kushner joined the family company as CEO, and recently moved
As he said on occasion, George W. Bush was content to let history be his judge. Barack Obama’s associates do not, to put it mildly, exude that kind of quiet confidence. They don’t appear to believe posterity will prove their judgment sound, so they have instead elected to theatrically rend garments in the hope that their display will distract from posterity’s verdict. The early days of the Trump administration were typified by the near ubiquity of “former Obama administration officials” in the press. Whether they were providing blind quotes to reporters or waxing contemplative about their own sagely conduct of
WASHINGTON — San Antonio Rep. Joaquin Castro will not run for the Senate in 2018, a decision likely to clear the deck for another rising Texas Democrat, Rep. Beto O´Rourke, in the battle against Republican incumbent Sen. Ted Cruz. The decision, first reported by the San Antonio Express-News, ends months of speculation about the next move for Castro, whose twin brother, Julian, is the former U.S. housing secretary and former San Antonio mayor. Castro, in an email to supporters, wrote on Monday that he had heard from Texans who "want a senator who will stand up for their families, not stand down
The White House is quietly starting to pull the plug on its shadow Cabinet of Trump loyalists who had been dispatched to federal agencies to serve as the president’s eyes and ears. These White House-installed chaperones have often clashed with the Cabinet secretaries they were assigned to monitor, according to sources across the agencies, with the secretaries expressing frustration that the so-called “senior White House advisers” are mostly young Trump campaign aides with little experience in government. The tensions have escalated for weeks, prompting a recent meeting among Chief of Staff Reince Priebus, Trump son-in-law Jared Kushner, and other administration officials,
HOUSTON — They say everything is bigger in Texas. And certainly, the saying holds true for the state’s feral hog population. At 2.5 million it’s the nation’s largest, and is growing exponentially as the sows birth litters of five to six piglets twice a year and those piglets can start reproducing before they are even a year old. Brought to Texas by Spanish explorers in 1542, wild pigs here cause an estimated $52 million a year in damage as the bristly backed hooligans smash through fences, decimate crops, eat baby livestock, dig up internet and water lines, ruin golf courses
Richard “Racehorse” Haynes, the celebrated Houston lawyer well known for getting Fort Worth’s Cullen Davis acquitted in multiple murder trials, died early Friday morning. The Houston Chronicle reported he died at 12:58 a.m. Friday, according to a statement from family spokesman and criminal defense lawyer Chris Tritico. Davis, at the time the richest man to stand trial for murder in the U.S., had been charged in the 1976 slayings of stepdaughter Andrea Wilborn, 12, and Stan Farr, 30, the boyfriend of his estranged wife, Priscilla. He had a total of four trials — two in the murders and two in solicitation of murder
We have another study from Duke University that shows groundwater isn’t being polluted by fracking, despite the cries from the environmentalists that the process, which is used to tap into natural gas resources. It’s been the crux of their narrative against this sector of the economy that’s rapidly growing throughout the country. The study was three years in the making, peer reviewed, and was recently published in the European journal Geochimica et Cosmochimica Acta. They did say that surface water might be impacted due to spills: Fracking has not contaminated groundwater in northwestern West Virginia, but accidental spills of fracking
Where is the richest county in the nation in terms of average gross income? For a long time now if you’d have guessed one of the collar counties around the nation’s capitol you’d have been correct. You’d also likely be forgiven for suggesting one of the bedroom communities around the Big Apple in Connecticut and New York. They’re traditional magnets for money. But according to Time Magazine, the latest figures show that wealth has begun to aggregate somewhere new and it’s far, far to the west. One county in Texas is now at the top of the heap and it’s
President Trump revealed highly classified information to the Russian foreign minister and ambassador in a White House meeting last week, according to current and former U.S. officials, who said Trump’s disclosures jeopardized a critical source of intelligence on the Islamic State. The information the president relayed had been provided by a U.S. partner through an intelligence-sharing arrangement considered so sensitive that details have been withheld from allies and tightly restricted even within the U.S. government, officials said. (Snip) “This is code-word information,” said a U.S. official familiar with the matter,
Washington - It has been almost a year since Democratic National Committee staffer Seth Rich was murdered in the nation´s capital. There have been no solid answers about why he was killed until now. Rich was shot and killed last July in Northwest D.C and police have suggested the killing in the District´s Bloomingdale neighborhood was a botched robbery. However, online conspiracy theories have tied the murder to Rich´s work at the DNC. Just two months shy of the one-year anniversary of Rich´s death, FOX 5 has learned there is new information that could prove these theorists right. Rod Wheeler,
Apparently, people are now marrying themselves. Well, more specifically, sad, bitter feminists with a millennial-like flare for narcissism are marrying themselves after sticking it to The Patriarchy by choosing to put their careers ahead of their personal lives. “I would describe it as women saying yes to themselves,” Anderson, 37, told WUSA9. “It means that we are enough, even if we are not partnered with someone else. "You´re worth it!" added the feminist. In the new, sad trend called "sologamy," women are committing themselves to themselves with their own wedding ceremony. These women, such as self-styled "sologamist" Erika Anderson, throw
Republican Sen. John McCain issued a blistering statement Tuesday morning condemning President Donald Trump´s reported disclosure of classified information to Russian diplomats during a meeting in the Oval Office last week. "The reports that the president shared sensitive intelligence with Russian officials are deeply disturbing," said the Arizona senator, who is notably hawkish on Russia. "Reports that this information was provided by a US ally and shared without its knowledge sends a troubling signal to America´s allies and partners around the world and may impair their willingness to share intelligence with us in the future." The Washington Post reported Monday night that Trump
Sen. Bob Corker (R-Tenn.) says President Trump’s White House must reverse the “downward spiral” it finds itself in. “The White House has got to do something soon to bring itself under control and in order,” he said Monday, according to Bloomberg. “It’s got to happen.” Corker, the chairman of the Senate Foreign Relations Committee, made his remarks following a Washington Post report that Trump revealed highly classified intelligence information in a meeting with the Russian foreign minister and ambassador.
Details about tea party bias claims against the IRS could remain secret because current and former agency officials say their lives are in danger if they publicly testify about the case. Lois Lerner and Holly Paz both have argued in recent court filings that the threat to their lives outweighs the public´s right to hear their testimony about how IRS employees in Cincinnati and Washington D.C. handled applications for tax-exempt status from tea party groups.
Hillary Clinton on Monday announced the launch of Onward Together, a new political group aimed at advancing progressive causes by harnessing grass-roots opposition to President Trump’s policies. Mrs. Clinton, 69, who until recently had maintained a low profile (Snip) Onward Together will support those groups, she said, though she did not describe what form the assistance would take. Onward Together is registered as a 501(c)(4) group, the Internal Revenue Service designation for so-called social welfare nonprofits, which are often cited for a rise in dark money in politics because of their ability to protect donor anonymity.
Senate Majority Leader Mitch McConnell, R-Ky., said Tuesday members of Congress could use a "little less drama" from President Trump and the White House following the media reports that the president shared classified information with the Russian foreign minister and ambassador last week. McConnell told Bloomberg on Tuesday morning that he hopes to move forward with the GOP agenda in Congress and pointed to national security adviser H.R. McMaster´s denial of the story. (Snip) "I think we could do with a little less drama from the White House on a lot of things, so that we can focus on agenda, which
Sen. Ben Sasse said Monday the firing of former FBI Director James Comey is most troubling because it appears to be political. “Once you get to a place where there’s an active investigation, the FBI director is not supposed to be in a political chain of command and that’s the appearance of this situation and its timing,” the Nebraska Republican said on CBS News. “The timing is very troubling.” Mr. Sasse also said that it feeds into the American public’s distrust of institutions, which has been on the downward spiral for decades. “I think we have a crisis of public
Sen. John McCain, R-Ariz., on Tuesday evening said allegations against President Trump´s administration have reached a "Watergate size and scale." McCain, who has not been an ardent supporter of Trump, made the comment at an International Republican Institute panel in Washington, D.C., according to reporters who attended. (Snip) Tim Mak ? @timkmak McCain just said at a dinner honoring him that the Trump scandals have reached a "Watergate size and scale" -- wow 8:33 PM - 16 May 2017 4,821 4,821 Retweets 8,240 8,240 likes Trump has been lambasted with accusations over the past week. Last week, he abruptly fired
White House senior adviser Kellyanne Conway said defending then-candidate Donald Trump on TV was so creepy, she felt like she needed a shower afterward, the co-hosts of MSNBC’s “Morning Joe” said Monday. “This is a woman, by the way, who came on our show during the campaign and would shill for Trump in extensive fashion,” said Mika Brzezinski, who hosts the show with new fiancé Joe Scarborough. “And then she would get off the air, the camera would be turned off, the microphone would be taken off and she would say, ‘Blech, I need to take a shower,’ because she
Hundreds of protesters gathered in Charlottesville, Virginia, to support the removal of a controversial statue of pro-slavery Civil War general Robert E. Lee - just a day after Alt-Right leader Richard Spencer led a torch-wielding mob fighting to keep the same monument. The demonstrators on Sunday night held candles - rather than the ominous torches of their rivals - so as to ´outshine their torches with our love´, the Daily Progress reported. But the protests weren´t entirely peaceful. Police arrested three people at the gathering: one for assaulting a police officer and another for spitting on conservative blogger Jason Kessler - who