Open post

Lessons Learned Through Two Oil Busts

Read The Full Story Here

“How does this bust differ from the bust in the ’80s?”

I get asked that question quite often, partly because I’m growing old and it shows on my face, and partly because I’ve been in the oil and gas industry since 1979, and people assume — rightly or wrongly — that I know some stuff because of that. I did live through that bust in the ’80s, and it wasn’t fun. I got laid off from a job in 1985 and was out of work for a few months — the only time I’ve been unemployed since I was 16 years old — and that caused me and my wife great financial hardship.

So I do remember those days all too well. To understand why that bust happened, you first have to go back to the oil shocks of the 1970s, when the Saudis and other OPEC nations implemented oil embargoes, first in 1973 and then again in 1979.

Two memories from that period of time stick with me to this day. The first is of filling my mother’s 1972 Pontiac Grand Ville up with gasoline on the day in 1974 when the price of gas at the local Circle K in Beeville, Texas, reached the then unheard of sum of 50 cents per gallon. That was the first time I had ever had to come up with 10 bucks (the aircraft carrier-size Grand Ville had a 26-gallon tank) to fill up a car with gas. I knew I was going to have to start working overtime or get another job if I was going to keep putting gas in that car. The second memory is of sitting at a long-disappeared Texaco station at the corner of Richmond Avenue and Buffalo Speedway in Houston during the summer of 1979, having to wait in a very long line of cars on an odd-numbered day to pay over $1 per gallon for my allotment of gas to fill up my Chevy Caprice. Another 26-gallon tank that was even more costly to fill.

Open post

Culture of Innovation: Doug Suttles with Encana

Read The Full Story Here

The history of the oil and natural gas industry in North America is in many ways intertwined with the history of the railroad, which in the mid-19th century became the main means of transcontinental transportation for Americans and Canadians.

As these great railroad systems were constructed across the continent, the companies building them gained ownership of great swaths of land, and, as importantly, obtained ownership of the minerals beneath the land. In the United States, as oil and natural gas began to be discovered across the Midwest and Rocky Mountain states, a good deal of it lay beneath land owned by rail companies like Burlington Northern, Union Pacific and Santa Fe.

These companies all eventually created subsidiaries to manage their oil and gas royalty holdings, and those subsidiaries eventually evolved into some of the country’s largest independent producers: Burlington Resources, Union Pacific Resources and Santa Fe Energy. Those companies are all gone today, having been merged with or acquired by ConocoPhillips, Anadarko Petroleum and Devon Energy, respectively, but their place in history is firmly established.

 

Open post

Today’s Campaign Update (Because The Campaign Never Ends) – 3.18.2017

  • Hey, Angie, how ’bout paying your bills?:  President Trump met with Angela Merkel on Friday, in what observers described as a “tense” meeting.  Gosh, wonder why?  Reportedly, the President pressed the German Chancellor about the need for her wealthy country to actually pay its dues to NATO, which it has been under-paying for basically as long as that organization has existed.  Shockingly, the Chancellor announced during their joint presser afterwards that she is now suddenly committed to doing that.  Turns out, somebody just had to ask.  Or more likely, demand, which would explain the “tenseness”.
  • Of course, “safe” is a matter of perspective.:  Also during the presser, Ms. Merkel laughably claimed that her policy of rampant open borders has made the European Union safe.  As if on cue, a radical Islamic terrorists went on a shooting rampage in the Paris airport.
  • That noise you heard around noon Friday was fake reporters heads exploding all across the fake news media:  Finally, President Trump got a big laugh during the presser when he tripled-down on his claim that Trump Tower was wire-tapped during the campaign, stating that being wire-tapped by the Obama Administration gave him “something in common” with Chancellor Merkel, who was also famously wire-tapped by the evil Obama minions, a truth the fake media has gone out of its way to forget.
  • Google lost hundreds of UK clients yesterday as a result of its ongoing policy of allowing rank anti-Semitic videos to remain active on YouTube.  This happens because Google is owned and run by progressives, and progressives are all about Antisemitism these days.  Sad but true.
  • Hey, remember when the Secret Service was this crack team of impenetrable security?:  Yeah, those days are long gone.  Yesterday, a SS agent in New York City had his laptop stolen when he left it unattended in the seat of his car.  The laptop reportedly contained the floor plans to Trump Tower, along with information about the criminal investigation of The Most Corrupt Woman in America.  Later on Friday, we learned that the fence-jumper who was arrested on the White House grounds last week had actually been roaming around inside the “security” fence for 17 minutes before the SS even realized he was there.  If you’re not worried about the President’s safety, you should reconsider.

Just another day in Trump Derangement Syndrome America.

That is all.

Open post

Today’s Campaign Update (Because The Campaign Never Ends) – 3.17.2017

  • Campus Stupidity of the Week:  Goes to Harvard University, where officials announced yesterday that they are eliminating the term “freshman” – because, you know, it has “man” in it – and replacing it with the far more PC term, “first year”.  As if this action weren’t stupid enough, Harvard’s leadership admitted that they had been fretting about what to do about this awful injustice “for years.” Really?  With all the education-related issues going on in America these days, this is what you spend “years” worrying about?  I swear I don’t make this stuff up.
  • Entertainment Media Stupidity of the Week:  Goes to Netflix, which, in the wake of bad comic Amy Schumer’s new special receiving almost nothing but 1-star reviews from dissatisfied viewers, is now changing its on-line reviews to only allow “thumbs-up” or “thumbs-down” ratings.  Presumably, they will change the system again after Ms. Schumer’s next not-funny-at-all special receives nothing but “thumbs-down” reviews.  Because that’s what idiots do.
  • Fake News Media Stupidity of the Week:  Goes of course to MSNBC fake host Rachel Maddow, who spent an hour on her show Tuesday night accidentally letting America know what an outstanding taxpayer President Donald Trump happens to be.  Compounding her problem, Ms. Maddow then blamed her problem on her viewers, who she said tuned in the show with “unrealistic expectations.”  It’s a safe bet many of those viewers won’t be making that mistake with her program again.
  • Congressional Stupidity of the Week:  Goes to the news media’s favorite U.S. senator, Cranky Old John McCain, who has decided that anyone who opposes anything he wants to see done is nothing but a tool of Russian leader Vladimir Putin.  Spending far too many years in the nation’s capital dealing with liberals, whose favorite tactic is to pick a boogeyman to frighten the public with and refer to that boogeyman at any given opportunity, has obviously rubbed off on the Senator From the News Media.  Thanks to the short-attention-span voters of Arizona, he’s not going anywhere for six long years.
  • Conventional Wisdom Stupidity of the Week:  Goes to all those “experts” in the fake news media telling us that President Trump’s administration is in a “death spiral” (I must have heard this phrase uttered a dozen times this week) due to his low public approval ratings in all the fake polls.  Let’s all take a breath and remember that these are the very same “experts” who were wrong about literally everything during the presidential election campaign, and who obviously have learned absolutely nothing about Donald Trump from that experience.  Anyone who paid attention for the last 20 months knows that, when it comes to President Trump, the DC “conventional wisdom” is pretty much always wrong.

Just another day in Trump Derangement Syndrome America.

That is all.

Open post

Today’s Campaign Update (Because The Campaign Never Ends) – 3.16.2017

  • The Poster Child for congressional term limits goes completely off the rails.: Senator From the News Media John McCain went all “hey you kids, get off my lawn!” on Kentucky Sen. Rand Paul on Wednesday, accusing Sen. Paul of “working for Vladimir Putin” on the floor of the Senate.  Sen. McCain’s latest crotchety temper tantrum came over a vote about letting Montenegro join NATO, a move to which Sen. Paul objects because he knows the U.S. will end up paying most of what the tiny country should pay to be in the organization.  Sen. McCain apparently believes the mighty armed forces of Montenegro – which consist of 3 guys carrying M-1 carbines – are all that stand between the free world and domination by the all-powerful Russian dictator.  Sadly, the voters of Arizona chose just last November to give the 80 year-old McCain yet another 6 year free pass to pursue his obvious goal of involving the U.S. in a shooting war with Russia.
  • That’s some fast typing right there.: An activist federal judge in Hawaii issued a stay on enforcement of President Trump’s latest temporary travel ban, despite the President’s clear and unambiguous authority to restrict immigration into the U.S. on any basis he sees fit.  Demonstrating the utter lack of any integrity whatsoever in his action, the judge issued a 43 page decision within 2 hours of hearing oral arguments in the case.  Apparently, he just happened to be carrying around a pre-written decision for exactly this case in the pocket of his robe.  The federal judiciary is now filled with blatant seditionists.
  • They found common ground at a truck stop in Shreveport.:  Texas Congressmen Will Hurd (R) and Beto O’Rourke (D) found themselves stranded at the San Antonio airport on Tuesday, their flight to DC having been cancelled by the “blizzard” that didn’t actually show up.  They decided to rent a car and make the 30 hour drive together, and live-streamed the whole thing on Facebook.  Not sure why I’m including this here, other than it’s pretty damn cool.
  • Is there nothing “global warming” cannot do?:  A University of New Hampshire professor – no doubt funded by a federal grant – has come up with a new angle on global warming alarmism.  She released a report yesterday predicting that the all-knowing, all-powerful “global warming” is shrinking mammals, and will soon cause horses to be no bigger can your average house cat.  Presumably “global warming” will also result in “fire and brimstone raining down from the sky.  Forty years of darkness!  Earthquakes, volcanoes…the dead rising from the grave!  Human sacrifice, dogs and cats living together…mass hysteria!”
  • His home is scheduled for a Soros-funded fire-bombing this Saturday.:  74 year-old radio talk show host Michael Savage just released a book about the Trump presidency titled “Trump’s War:  The Battle For America”.  Naturally, he was beaten up by a deranged social justice warrior at an Italian restaurant Tuesday night.  This is what Democrats refer to as “dialogue”.

Just another day in Trump Derangement Syndrome America.

That is all.

Open post

Is The Constantly Changing Natural Gas Market About To Change Again?

The growing glut of natural gas on the global market – spurred in part by increased exports of Liquefied Natural Gas (LNG) by U.S. producers over the last year – reminds us of the dynamic nature of the domestic natural gas market, and the role shifting public policies have played into that over the years.

My own frame of reference here begins during the summers of 1977 and 1978, when I earned college tuition money by taking summer jobs on pipeline crews in deep South Texas.  In 1978, the Congress and the Carter Administration had become convinced by some really bad science that the U.S. would actually run out of natural gas in a few decades, and thus needed to conserve what little remaining reserves it had on-hand for home heating usage.  Acting on this belief, then-President Jimmy Carter signed into law the Natural Gas Policy Act (NGPA) and the Fuel Use Act (FUA), both of which had major impacts on natural gas markets, and both of which inhibited investment in new natural gas-buring infrastructure.

The NGPA discouraged investment in drilling for new natural gas reserves by allowing the federal government to establish ceiling prices producers could receive for various categories of natural gas that were established under the law.  The FUA was even more prohibitive on the demand side of the natural gas ledger, prohibiting utility companies from building new gas-fired power plants.  The result?  A Democratic Administration ironically actively encouraged the building of dozens of new coal-fired and nuclear power plants all over the United States, many of which are still operating, much to the chagrin of today’s climate alarm lobby.

 

Read The Full Piece Here

Open post

Today’s Campaign Update (Because The Campaign Never Ends) – 3.15.2017

  • Honestly, I’m not sure even congressional Republicans can screw this one up.:  Congressional Democrats, after having spent the last 20 years squealing like stuck pigs about what a sacrilege it is whenever the Republicans have caused about 14% of the federal government to be shut down in a budget or debt ceiling fight, are now threatening to fight funding for President Trump’s border wall by …wait for it…wait for it…SHUTTING DOWN THE DAMN GOVERNMENT!  The proper GOP response to this threat is possibly the single biggest no-brainer in the history of the Republic:  Please, go right ahead!
  • Hey, whatever happened that Jill Stein?:   Isn’t she a pistol?  Do you think we could run her down and see if she’d do a recount of the CBO score on the Republican plan to repeal and replace ObamaCare?  Her results would be just as valid.
  • Tired of Winning Yet?  Part I.:  Foreign Policy magazine reports that President Trump has instructed the State Department to find ways to cut U.S. support for the various worthless United Nations programs by 50%.  Naturally, country club Republicans like Mitch McConnell and Lindsey Graham have already stated they would oppose such cuts.  Note:  If you’re from Kentucky or South Carolina, you need to pay better attention.
  • Tired of Winning Yet?  Part II:  Foreign Policy also reports that Secretary of State Rex Tillerson threatened that the U.S. might well withdraw from the detestable UN Human Rights council unless it enacts “major reforms.”  Awesome.
  • Further, cats and dogs on campus must now be referred to as “lovable furry companions”, and shrubs and trees are now to be called “leafy green shade-givers.”:  Officials at the University of Minnesota announced that the school would be dropping the terms “Homecoming Queen” and “Homecoming King”, and replacing them instead with the gender neutral “Royals”.   Because, well, – let’s be honest here – the officials at the University of Minnesota are a bunch of spineless idiots who are complicit in turning their students’ minds into useless mush.  There, I said it.
  • That’s also why they took up smoking.:  More than 8,000 airline flights destined to or from the northeastern states were cancelled on Tuesday, all because the folks at the National Weather Service (NWS) are incapable of forecasting the weather more than 8 hours in advance.  Making matters worse, NWS officials admitted they actually suspected in advance that snowfalls would not hit the major cities like they had previously thought, but decided to stick with their more alarmist forecasts “out of extreme caution.”  I swear, I SWEAR I don’t make this stuff up.
  • The Twitter-verse went all…ummm…a-twitter yesterday around 7:00 when fake MSNBC host Rachel Maddow Tweeted out that she had obtained “Trump tax returns”, and would reveal them on her program at 8:00.  The big reveal?  It turns out that, in 2005, Mr. Trump paid $38 million in income tax on $150 million in income.  To which most thinking people responded, “man, sure wish I had the chance to to pay $38 million in income tax, just one time.”  After that “big reveal”, the Twitter-verse went all…ummm…a-twitter about how embarrassing it all was for Rachel Maddow.

Just another day in Trump Derangement Syndrome America.

That is all.

Open post

Today’s Campaign Update (Because The Campaign Never Ends) – 3.14.2017

  • Wooing practice begins at 9:00 sharp, Madam Chancellor.:  The blizzard bearing down on Washington DC caused German Chancellor Angela Merkel, whose open borders policies are in the process of utterly destroying her country’s native culture, to postpone her planned meeting with President Trump today.  But whenever they do meet, Der Spiegel reports that the Chancellor is “planning woo Trump, rather than confront him” over his plans to enforce America’s immigration laws.  Somehow, I don’t think Ms. Merkel will find a very receptive audience for this strategy.  Might be best to postpone this meeting until a better approach can be devised.  Like invading Poland, for example.
  • MSNBC will no doubt soon be offering him his own prime time talk show.:  The irresponsible nitwits who run Austin’s SXSW drunk-and-traffic-fest provided a platform for the debut of an absurdly plotted “documentary” by a Michael Moore disciple named Jason Pollock, which claims to reveal ‘new evidence’ in the Michael Brown case.  Despite the easily-discerned fact the film is an abject work of fiction that reveals nothing but the dishonesty of the filmmaker and incredible gullibility of its audience, riots very predictably broke out in Ferguson, MO.  This gave the talking heads at CNN something to talk about other than President Trump, so I guess we should be grateful for that.
  • Yes, in the same sense that a lion loves a zebra.:  Speaking of SXSW, the comical fake editor of the NY Times, Dean Baquet, told an audience there that President Trump “actually loves the New York Times.”  Such fake hubris is fake unbecoming of you, Mr. fake editor.
  • How many different positions will James Comey take on this?  The over/under is currently 3.:  Snoop Dog released a video in which he pretends to shoot President Trump.  Predictably, there is no outrage coming from the fake news media in response.  Imagine how Martha Raddatz or Jake Tapper would have responded if a high-profile artist had released such a video when Barack Obama was President.  Your fake news media in action.
  • Last week they were all claiming the then-unseasonably warm temperatures were due to “global warming.”:  A major blizzard blew into the northeastern seaboard last night, and will blanket everywhere from Washington, DC through Maine with a major late-season snow.  Climate frauds everywhere are blaming this very common periodic occurrence on…wait for it…wait for it… “climate change”.  Because that’s what climate frauds do.
  • Yes, because the Tea Party uprising was a truly organic occurrence, and everything the left is doing is utterly fake.  See the difference here?:  The interminably dense fake journalists who inhabit Nate Silver’s 538.c0m blog published an hilariously dimwitted piece titled, “The Left Might Have a Hard Time Replicating The Tea Party’s Success”.  You don’t say….

Just another day in Fake News Media America.

That is all.

Open post

Today’s Campaign Update (Because The Campaign Never Ends) – 3.13.2017

  • That moment when one fake news outlet attacks another fake news outlet, as reported by yet another fake news outlet.  This is getting extremely fake-complicated.:  Dean Baquet, the fake editor of the fakest fakety fakey fake Newspaper of Record, the New York Times, got all sassy regarding the fake news competition yesterday.  He told an interviewer with another fake news outlet – The Hill – that the new slogan adopted by the Washington Post, “Democracy Dies in the Dark”, “sounds like the next Batman movie.”  Oooooh, burn!
  • Hey, could we just scrap that whole college degree requirement while we’re at it?:  The Associated Press reports that New York teachers’ unions are demanding that the state scrap a basic literacy test that is given to prospective public school teachers.  The test is similar to tests that these teachers would be giving to their students.  The reason they want to do away with the test is so predictably pathetic it would make a normal person (i.e., not a Democrat politician or fake news media employee) cry:  too many prospective teachers are failing the test.  No one could have ever seen that one coming.
  • The Senator From The News Media’s blood sugar was low again on Sunday.:  Arizona Senator John McCain continued his campaign to maximize this appearances on MSNBC and CNN, telling an interviewer on Sunday that he is demanding President Trump prove his claim that Trump Tower was wiretapped by the Obama Administration.  “The president has one of two choices, either retract, or to provide the information that the American people deserve,” McCain said.  That single sentence will net the cranky Senator two eight-minute segments with Chris Matthews on MSNBC’s “Hardball”.  No word if CNN is considering simply making McCain the host of a nightly hour-long program in its failing prime-time lineup, but it should be.
  • Just one more thing for the Senator from the news media to get cranky about.:  The Washington Post reports that the budget submitted to congress later this month by President Trump (I never get tired of typing those words) will contain “historic cuts” in the federal work force.  Of course, the fake news reporters who wrote the story fail to mention the fact the historic increases in the federal work force created during eight years of Barack Obama.  In any event, we can expect to see hundreds of fake sob stories from the fake media as it mounts a coordinated campaign with the Democrats to make sure that each and every federal worker keeps his or her job in the coming weeks.  Because acting as the propaganda wing of the Democratic Party is what the fake news media does.

Just another day in fake news media America.

That is all.

Posts navigation

1 2 3 30 31 32 33 34 35
Scroll to top