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.
In the third week of January, an Israeli named Yoni Ariel flew from Tel Aviv to Rome carrying $9,000 in cash on a secret mission to bring down Donald Trump. There, he met with an Italian businessman. Seated at a table toward the rear of a café, away from the street where they might attract unwanted attention, Ariel recalled, he handed over the cash. In exchange he was given a copy of a potentially explosive set of documents. Its 35 pages told the story of a $1.6 billion wire transfer from petroleum giant ExxonMobil to a European office of a Chinese mining
Hardly a day has passed since the 2016 election without several “Save the Consumer Financial Protection Bureau” editorials. They are irrelevant. Only the agency’s director, Richard Cordray, can save the CFPB — by resigning. The op-eds all defend what the CFPB was supposed to be rather than what it became. To sell the 2010 Dodd-Frank Act that created the bureau, then-professor Elizabeth Warren and other Democrats promised a professional law-enforcement agency whose mission was to prevent financial-services companies from defrauding consumers through deceptive advertising and indecipherable contracts. A unique organizational structure — a president-appointed single director removable only for cause
Few Americans know the power of the administrative state better than a man America met a few years ago when he performed on a reality TV show. It was the summer of 2013, and it was episode 806 of “America’s Got Talent,” an “American Idol” knockoff with hosts Howard Stern, Heidi Klum, and Howie Mandel. Up to the microphone stepped a 36-year-old man — acoustic guitar in hand — dressed in jeans, a tucked-in khaki shirt, and a pair of brown cowboy boots. His name was Jimmy Rose. He was born in a town called Pineville, in Bell County, Kentucky —
The indoctrination to love and live Texas begins at a young age in the Lone Star State. Beginning in early childhood, Texans learn to “Remember the Alamo,” chant the seemingly infinite lyrics to “Deep in the Heart of Texas,” and recite the pledge of allegiance to the Texas flag—after, of course, pledging to the American flag. Most people quickly learn to “hook ‘em,” “gig ‘em” “sic ‘em” or put their “guns up” based on family loyalties to their respective Texas universities. But “Don’t mess with Texas” is a phrase that inspires Texans of all regions and all alma maters and incites
Preet Bharara, the crusading U.S. Attorney for the Southern District of New York who was asked to submit his resignation letter Friday, along with the 45 other U.S. Attorneys held over from the Obama administration, has yet to do so, a federal law enforcement official tells The Daily Beast. Bharara—whose office is in the end stages of an investigation of New York Mayor Bill de Blasio, about to begin the trials of two close allies of Governor Andrew Cuomo, and also appears to be investigating how Fox News structured settlements of sexual harassment and other claims brought by its employees—met
Reasonable, decent people should be really angry about how angry everybody is. In today´s America, there really is no good excuse for mass anger. So the mass anger we see from left, right and center is so out of line that it should really make us mad. Oh, and everybody else should just shut up when they insist that anybody else shut up. I mean, just shut up already. Let´s first consider the anger. In America today, materially speaking, life is good. Damn good. As I´ve reported elsewhere, household incomes are actually higher than they were when people were celebrating Ronald Reagan´s booming mid-1980s
Georgetown, Texas, is a conservative town in a conservative state. So it may come as something of a surprise that it´s one of the first cities in America to be entirely powered by renewable energy. Mayor Dale Ross, a staunch Republican who attended President Trump´s inauguration, says that decision came down to a love of green energy and "green rectangles" — cash. When Georgetown´s old power contract was up in 2012, city managers looked at all their options. They realized wind and solar power are more predictable; the prices don´t fluctuate like oil and gas. So, a municipality can sign
The half-hour ride from Marfa to Alpine was uneventful. My husband, our son, and I had crammed into the single-cab truck one Saturday, chattering about school and 4-H projects while on the way to the feed store. In Alpine we bought alfalfa and returned to the vehicle, where Huck, who was about eleven years old at the time, opened the passenger door. Instead of climbing in, he abruptly jumped backward into my chest, nearly toppling us both. “Snake!” he stammered. “There’s a snake.” And, lo, reader, indeed there was a snake. As we peered into the cab and opened the door
In April, millions of tiny flowers spread over the blackjack hills and vast prairies in the Osage territory of Oklahoma. There are Johnny-jump-ups and spring beauties and little bluets. The Osage writer John Joseph Mathews observed that the galaxy of petals makes it look as if the “gods had left confetti.” In May, when coyotes howl beneath an unnervingly large moon, taller plants, such as spiderworts and black-eyed Susans, begin to creep over the tinier blooms, stealing their light and water. The necks of the smaller flowers break and their petals flutter away, and before long they are buried underground.
The Senate has confirmed former Texas governor Rick Perry to serve as Energy secretary under President Trump. The vote was 62-37 on Thursday. Perry — who once pledged to eliminate the department — has repeatedly promised be an advocate for the agency and to protect the nation’s nuclear stockpile. Perry also has said he’d rely on federal scientists, including those who work on climate change. Perry has said he’ll work to develop American energy in all forms — from oil, gas and nuclear power to renewable sources such as wind and solar power. Democrats say they accept Perry’s disavowal of his 2011 pledge to
Goodbye, super-long, fiery red inauguration tie. Hello, more presidential-looking Trump. When President Trump arrived for his first joint address to Congress Tuesday night, he opted for a more stylish look than we´ve seen in the past: tailored jacket, shortened sleeves, tie of appropriate length, one button buttoned. It´s an aesthetic upgrade from the baggy suit, too-long sleeves and giant red tie he has favored -- a typical look for men who work on Capitol Hill, so dominated by ill-fitting suits that it´s a long-running stereotype. On Tuesday night, however, Trump´s jacket was nipped at the waist. The buttoning of a
Stephen Miller’s corner office in the West Wing of the White House is utterly barren—no pictures on the walls, no books on the shelves, no indication even of who inhabited the space a month earlier, before the Obama administration cleared out. “Couldn’t tell you,” Trump’s intense and polarizing 31-year-old senior policy adviser says with a shrug. Miller isn’t being unfriendly. Rather, his spartan surroundings and indifference to small talk are byproducts of a life pared of every detail that doesn’t advance the singular glory of Donald J. Trump. Concerned that Trump wasn’t accruing the praise Miller felt was merited, he
Sen. John McCain on Wednesday directly accused fellow Republican Sen. Rand Paul of working for Russian President Vladimir Putin. While speaking from the Senate floor in support of a bill advancing Montenegro’s bid to join NATO, McCain noted objection from the Kentucky senator, saying, “You are achieving the objectives of Vladimir Putin... trying to dismember this small country which has already been the subject an attempted coup.” He continued: “If they object, they are now carrying out the desires and ambitions of Vladimir Putin and I do not say that lightly.” Several moments later, after McCain asked for unanimous consent
David Cay Johnston is the reporter who received what appears to be the first two pages of Donald Trump’s 2005 tax returns and shared them on “The Rachel Maddow” show Tuesday night. The editor and founder of dcreport.org, which crashed Tuesday night during the 9 p.m. hour, said he received Donald Trump’s tax returns from 2005 in the mail a few days ago. The return revealed that Trump paid $38 million in federal income taxes on a reported income of $150 million in 2005. WATCH: (Video) Johnston speculated that Trump might have been the person who mailed the figures to him.
McDonald´s in a tweet on its corporate account called President Trump "a disgusting excuse of a President" on Thursday morning. The tweet, which was briefly pinned to the top of the account before being deleted, mocked Trump and called for the return of former President Obama. "@realDonaldTrump You are actually a disgusting excuse of a President and we would love to have @BarackObama back, also you have tiny hands," the tweet read. Trump was once in a commercial for the fast food giant, and has posted images eating McDonald´s food on his social media accounts during his campaign.
Nordstrom insists its line of Ivanka Trump products, ranging from professional sheath dresses and black pumps, wasn’t selling well, so it had to be dropped. So what did it pick up? High-wasted, acid-washed mom jeans, complete with see-through knees, selling for $95 a pop. Made by Topshop — a hip British retailer — the jeans feature clear, plastic kneecap covers, sewn into the fabric. Nordstrom.com says the jeans have a “futuristic feel.” Even the liberal Huffington Post is questioning why. Begging for someone to put a stop to the madness, Huffington Post writer Carly Ledbetter penned, “Have you ever thought
President Trump slammed a federal judge from Hawaii Wednesday night for blocking what he called his “watered-down” travel ban on people from six predominately Muslim countries.Trump spoke shortly after US District Court Judge Derrick Kahala Watson issued a preliminary injunction, saying it might violated the constitutions establishment clause by singling out people from one religion. “Let me give you the bad news, the sad news. A judge has blocked our executive order on travel ban. . . The order he blocked was a watered down order from the first order,” Trump said during a rally in Nashville, while referring to the
A Reuters filing en route to Asia showcases the bitterness, anger and seething rage of U.S. journalists who have been forced to fly First-Class Commercial to cover Secretary of State Rex Tillerson’s Asia trip. State Department correspondents are used to the exclusive wide-body private charters of the U.S. federal government’s airline fleet. Previous heads of the Department of State have flown aboard Air Force 3. Normally a Boeing 757. At the very worst Air Force 3 would be a C17 Globemaster. However, T-Rex is taking a smaller jet to Asia and only one journalist accompanies him. To make matters exponentially
President Donald Trump will release a budget blueprint Thursday that makes significant cuts to spending to fund his border wall and the military build-up he´s been promising. Cut the deepest is the State Department, which is being slapped with a 28 percent reduction to its foreign aid division. The Environmental Protection Agency and the Housing and Urban Development Department is also expected to suffer. The Corporation for Public Broadcasting, which provides support to NPR and PBS - the broadcaster of Sesame Street - will see its funding phased out if Trump´s budget makes it past the House and Senate over the objection
Former President Barack Obama has arrived in French Polynesia where he will spend a month at a luxury resort frequented by Hollywood stars. He landed on the tourist island of Tahiti this week without his family before going to Marlon Brando´s privately owned retreat Tetiaroa atoll, which the Oscar-winning actor bought in the 1960s. Obama then checked into the eco-friendly Brando resort, whose villas boast their own plunge pools and cost between 2,000 euros ($2,150) and 12,300 euros per night. It is unclear if Obama´s family will join him for the tropical holiday. Daughter Malia is working at an internship in New York while
In a clash with President Trump´s environmental team, Defense Secretary Jim Mattis has declared that climate change is a threat to national security and one military planners must consider in drawing up strategies. According to a report from ProPublica, Mattis told Democratic senators that climate change is real and "can be a driver of instability." His position, at odds with President Trump and his Environmental Protection Agency chief, came in answers to questions from senators following his confirmation hearing. They were released to ProPublica which reached out to the White House and Pentagon
Angry, violent progressives, driven by nonstop Trump hatred emanating from mainstream and leftist media, apparently feel impunity in acting out their fury. Apparently it is open season on conservatives, at least in progressive bastions such as the wealthy Marin County town of Tiburon. (snip)Savage said the man called out to him: “Are you Michael Weiner?” (referring to his given name). Savage said he turned to the man and said, “Go away, I don’t know who you are.” Horowitz said it’s still not entirely clear what motivated the alleged assault, but his office is looking into whether it was a hate crime
MSNBC host Rachel Maddow spent hours touting a massive scoop: She -- or more accurately veteran investigative reporter David Cay Johnston -- had gotten her hands on President Trump´s 2005 federal tax return. (Snip) In short: We didn´t learn anything we don´t already know about Trump. Yes, he is very wealthy. Yes, he -- like virtually all very wealthy people -- looks for holes in the tax code to lower his overall taxable income. (Sidebar: As a non-wealthy person, I do the same thing.) For all the hoopla surrounding the unearthing of these documents, there simply was no smoking gun
Before the inauguration, Donald Trump and Preet Bharara met and an agreement was struck that would keep US Attorney Bharara in his current position in New York under a new Trump administration. New York Senator Charles Schumer was instrumental in getting Bharara appointed to that position and in return was asked from time to time to do favors for the senator and his allies. Up until recently, President Trump had no idea what was really going on. Once President Trump’s staff understood the quid pro quo, they had no choice but to ask for Bharara’s resignation. In 2015, Puerto Rico