Category: Drill, Baby, Drill

The Keystone XL

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Full steam ahead, currently above ground;

Canadian Pacific Railway Ltd. is poised to meet a goal to boost crude shipments by at least 67 per cent next year as oil producers and pipeline companies continue to build terminals even amid a bear market for the commodity.
“From the intelligence we get from our customers that are buying the crude, I don’t think the bottom is going to drop out” of the business, chief operating officer Keith Creel said Monday during an interview in Toronto. “Will it slow down and will some consolidation happen? Yes, but I think our supply partners are in a position of strength.”
Creel’s reaffirmation of the railroad’s plan to increase crude carloads to 200,000 in 2015 from as many as 120,000 this year…

h/t Karen

Oh, Frack!

The New York Times reports that the Kremlin bankrolled protests against fracking in Europe. Green was really Red.
[…]
Falling oil prices will temporarily weaken the Russian and Iranian positions vis a vis the forces supported by the Gulf Emirates. It will also diminish logistical support for Assad in Syria. The administration finds itself in an accidental position of strength. US domestic oil production which it has tried so hard to discourage, has inadvertently given it a trump card.
But does it know what to do with it? The administration has not been able to press its advantages because it did not realize low oil prices would be an advantage in the first place. And even if they realized they had an ace in the hole, they have no idea what they want in the first place.

Richard Fernandaz has more.

Oh, Frack!

Bloomberg;

“In 2016, when OPEC completes this objective of cleaning up the American marginal market, the oil price will start growing again,” said Fedun, who’s made a fortune of more than $4 billion in the oil business, according to data compiled by Bloomberg. “The shale boom is on a par with the dot-com boom. The strong players will remain, the weak ones will vanish.”
Oil futures in New York plunged as much as 3.8 percent to $70.87 a barrel today, the lowest since August 2010.
At the moment, some U.S. producers are surviving because they managed to hedge the prices they get for their oil at about $90 a barrel, Fedun said. When those arrangements expire, life will become much more difficult, he said.

Upon further reflection, I believe it’s time for Canada to institute a “human rights tariff” on foreign oil from corrupt and repressive states – a 25% surcharge on Saudi imports would kick things off nicely.

“…they don’t really oppose oil – just our oil.”

Ezra Levant;

That is the face of the environmentalist movement today. It’s un-Canadian.
Not just that their tactics are shocking and violent and undemocratic. But that they are literally directed and funded by non-Canadian bosses. All of the leading anti-oilsands groups in Canada are financed, to varying degrees, by foreign interests.
Two of the most visible organizers, Tzeporah Berman and Ben West, work for a United States-based lobby group called Forest Ethics, financed by the Tides Foundation. Real Canadians believe in the rule of law, and accepting the result of elections. But American campaign managers have other goals.

Now Is The Time At SDA When We Juxtapose!

What would we do without forecasts?
Forbes, July 2011It seems that plenty of traders agree with Roubini’s bearish outlook. A chart published today by Bloomberg shows a sharp increase in traders buying call options on $200/barrel oil futures, which expire on May 17th.
BBC, November 2014The IEA, a consultancy to 29 countries, said weak demand and the US shale gas boom meant crude’s recent fall below $80 a barrel was not over.

Kinder Morgan Protest Unmasked

Complete with interactive chart This series of four articles will address the problem by digging into the details of the protest, the people and organisations working behind the scenes, and by deconstructing some of the bovine excrement being fed to the public. After several weeks of investigation it’s become clear that everything is not what it looks like on the surface- despite the protest’s grassroots appearance, there are many well-funded organizations working in the background.

h/t Kevin B.

Oh, Frack!

Landmark Fracking Study Finds No Water Pollution;

The final report from a landmark federal study on hydraulic fracturing, or fracking, found no evidence that chemicals or brine water from the gas drilling process moved upward to contaminate drinking water at a site in western Pennsylvania.
The Department of Energy report, released Monday, was the first time an energy company allowed independent monitoring of a drilling site during the fracking process and for 18 months afterward. After those months of monitoring, researchers found that the chemical-laced fluids used to free gas stayed about 5,000 feet below drinking water supplies.
Scientists used tracer fluids, seismic monitoring and other tests to look for problems, and created the most detailed public report to date about how fracking affects adjacent rock structures.

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