fracking - What We're Reading

Saudi Arabia May Go Broke Before US Oil Industry Buckles

Posted by StockBuz on August 6, 2015 at 8:31am in Commodities and Energy

If the oil futures market is correct, Saudi Arabia will start running into trouble within two years. It will be in existential crisis by the end of the decade.

The contract price of US crude oil for delivery in December 2020 is currently $62.05, implying a drastic change in the economic landscape for the Middle East and the petro-rentier states.

The Saudis took a huge gamble last November when they stopped supporting prices and opted instead to flood the market and drive out rivals, boosting their own output to 10.6m barrels a day (b/d) into the teeth of the downturn.

Bank of America says OPEC is now "effectively dissolved". The cartel might as well shut down its offices in Vienna to save money.

If the aim was to choke the US shale industry, the Saudis have misjudged badly, just as they misjudged the growing shale threat at every stage for eight years. "It is becoming apparent that non-OPEC producers are not as responsive to low oil prices as had been thought, at least in t

Sunny Saturday Reads May 10th

Posted by StockBuz on May 10, 2014 at 3:16pm in Useful Tools

And what are we doing at our computers. It's beautiful outside - go enjoy the day........and don't forget to pick up something for Mothers Day tomorrow!

More pain ahead for small caps, saysCredit Suisse. Since the mid 1990′s the average and median pullbacks in the Russell 2000 have been 21% and 14%.
Some measures of corporate credit spreads have reached their tightest levels in the past 23 years. Does this mean that optimism has peaked and it's time to sell? Not necessarily says Califia Beach Pundit.
Pope Francis calls for return to morals, generosity and redistribution of wealth TCC
Fracking has done phenomenal things for North Dakota, including making it the deadliest state in which to work. MotherJones

Texas Family Awarded $3M in America’s First Fracking Trial

Posted by StockBuz on April 27, 2014 at 5:39pm in Energy

They weren't an anti-fracking family. They had no wells on their land. In fact for the longest time they, their doctors and numerous specialists had no idea what was causing their continual symptoms....and then the pieces began to fall into place.

By Lambert Strether of Corrente.

$3 Million? More like this, please. Here’s some background on the suit, from Natural Gas Intelligence:

In a first-of-its-kind hydraulic fracturing (fracking) nuisance lawsuit, a Dallas Jury Tuesday awarded a North Texas family $2.95 million for physical and mental pain as well as loss of property value due to activities by Barnett Shale producer Aruba Petroleum Inc.

Plaintiffs Robert and Lisa Parr had sought $9 million in damages and alleged that 22 wells operated by Plano, TX-based Aruba within two miles of their land, about 15 miles west of Denton, TX, exposed them to toxic gases and industrial waste. The Parrs said they were forced from their home at certain times and had to live in Robert Parr’s office.

fracking (3)

Saudi Arabia May Go Broke Before US Oil Industry Buckles

Sunny Saturday Reads May 10th

Texas Family Awarded $3M in America’s First Fracking Trial

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