In a bizarre and ignorant move by Democrat Gov. Peter Shumlin of Vermont, he signed a strange law which bans hydraulic fracturing in the state, even though there is pretty much no known gas or oil underneath the Vermont ground.
The law is strange for that very reason, as the nutty governor added this: "I hope other states will follow us. The science on fracking is uncertain at best. Let the other states be the guinea pigs. Let the Green Mountain State preserve its clean water, its lakes, its rivers and its quality of life."
This is such a cowardly act it is odd that it was even employed as an attempted tactic to sway other states to take similar actions.
How hard is it to ban something that has absolutely no political cost or fallout because it doesn't exist in the state?
If it would have brought in tax revenue and created jobs for those in Vermont, you wouldn't have seen the governor blabbing his mouth and uttering contradictions in the confusing way he did.
Out of one side of his mouth he said other states with huge energy resources should follow Vermont's lead, while the other side of his mouth he says other states should be the "guinea pigs" for testing fracking.
America's Natural Gas Alliance responded saying the Vermont law was "poor policy that ignores fact, science and technology," adding natural gas is being produced "safely and responsibly."
As for the so-called preservation of quality of life, let's stop selling oil and gas extracted using fracking to Vermont and see what the quality of life people have in the state comes to.
Showing posts with label Fracking. Show all posts
Showing posts with label Fracking. Show all posts
Thursday, May 17, 2012
Wednesday, May 16, 2012
Horizontal Drilling Bill Approved by Ohio Senate
New rules for horizontal drilling in Ohio has been approved by the Senate on a bipartisan basis.
This is in response to those who are attempting to slow down drilling in shale in the eastern part of the United States, which would devastate the extraordinary potential for enormous energy deposits, as well as the creation of numerous, good-paying jobs.
Some of the requirements of the bill include companies having to disclose the types of chemicals which would contact the water supplies used by human beings while they were drilling.
Any well that is to be drilled must also have all water wells within 1,500 feet of them tested.
Whether searching for natural gas, natural gas liquids or oil, the companies also must reveal the location they'll draw water from for the purpose of fracking or blasting the shale to require the energy sources. Also required is the volume and rate at which the firms will extract the water.
Ohio Governor John Kasich lauded the bill saying that "Ohio approaches energy production and consumption in a safe and responsible way, while also giving families and job creators access to more affordable energy."
As for concerns over wastewater, Senator Shannon Jones, who sponsored this legislation, said that will be addressed in separate legislation in the future.
This is in response to those who are attempting to slow down drilling in shale in the eastern part of the United States, which would devastate the extraordinary potential for enormous energy deposits, as well as the creation of numerous, good-paying jobs.
Some of the requirements of the bill include companies having to disclose the types of chemicals which would contact the water supplies used by human beings while they were drilling.
Any well that is to be drilled must also have all water wells within 1,500 feet of them tested.
Whether searching for natural gas, natural gas liquids or oil, the companies also must reveal the location they'll draw water from for the purpose of fracking or blasting the shale to require the energy sources. Also required is the volume and rate at which the firms will extract the water.
Ohio Governor John Kasich lauded the bill saying that "Ohio approaches energy production and consumption in a safe and responsible way, while also giving families and job creators access to more affordable energy."
As for concerns over wastewater, Senator Shannon Jones, who sponsored this legislation, said that will be addressed in separate legislation in the future.
Monday, August 2, 2010
Understanding Success of Carbo Ceramics (NYSE:CRR)
Carbo Ceramics (NYSE:CRR) is a relatively unknown company in the commodity field for the average investor, as they operate largely under the radar of most traders because they provide support products to the energy sector, rather than the more sexy extraction of large quantities of oil and gas from various projects; offshore or onshore.
Since dropping from a low of a little over $27 a share in April 2009, the share price of the company has soared to $80.20 at the close of trading on Friday. From July 31, 2009, they've almost doubled in price, when they stood at about $41 a share.
What is it that makes Carbo such a powerful company and produce these types of results? A little particle they produce called a "proppant."
Most people understand what fracking is, or if not by that name, at least the principle. It is the process of using very high-pressure liquids to push apart the shale layers where oil or gas reside.
What most don't know, is included in that stream of fluids is tiny little granules called proppants.
How they work is they're basically left before after the separation of the shale in order to keep the shale apart or open. That's what keeps the oil or gas flowing and able to be extracted.
With the huge discoveries of natural gas in the U.S. residing in shale, it has propelled the U.S. to the top of the heap with Russia as the predominant source of the relatively clean energy.
That means there will be, and continue to be, a huge demand for proppant for decades, or longer, into the future. That is why Carbo has been performing so extraordinary, and should continue for a long time.
Obviously the price of the shares of the company have soared, but this play is really just getting going, and there should be an enormous amount of growth for many years.
To confirm all this, in its recent quarterly report, the company generated earnings of $18.7 million, or 81 cents a share, about twice what it was last year in the same quarter. Revenue also increased to $111.5 million, a gain of 61 percent. That far exceeded analysts' expectations of $101.1 million in revenue, or 65 cents a share.
This is a simple and easy to understand company. You watch natural gas demand and the ability of Carbo to supply proppant to meet that demand for the fracking process.
Since dropping from a low of a little over $27 a share in April 2009, the share price of the company has soared to $80.20 at the close of trading on Friday. From July 31, 2009, they've almost doubled in price, when they stood at about $41 a share.
What is it that makes Carbo such a powerful company and produce these types of results? A little particle they produce called a "proppant."
Most people understand what fracking is, or if not by that name, at least the principle. It is the process of using very high-pressure liquids to push apart the shale layers where oil or gas reside.
What most don't know, is included in that stream of fluids is tiny little granules called proppants.
How they work is they're basically left before after the separation of the shale in order to keep the shale apart or open. That's what keeps the oil or gas flowing and able to be extracted.
With the huge discoveries of natural gas in the U.S. residing in shale, it has propelled the U.S. to the top of the heap with Russia as the predominant source of the relatively clean energy.
That means there will be, and continue to be, a huge demand for proppant for decades, or longer, into the future. That is why Carbo has been performing so extraordinary, and should continue for a long time.
Obviously the price of the shares of the company have soared, but this play is really just getting going, and there should be an enormous amount of growth for many years.
To confirm all this, in its recent quarterly report, the company generated earnings of $18.7 million, or 81 cents a share, about twice what it was last year in the same quarter. Revenue also increased to $111.5 million, a gain of 61 percent. That far exceeded analysts' expectations of $101.1 million in revenue, or 65 cents a share.
This is a simple and easy to understand company. You watch natural gas demand and the ability of Carbo to supply proppant to meet that demand for the fracking process.
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