Oil Production, Cannabis, Denis Hunter discussed on All Things Considered


Wall street polarized round future oil prices steven schork as a former oil trader now a consultant he says investors are getting excited about a jump in prices while oil drillers are being cautious producer cage signalling dot 60dollar high fifty which certainly purity beat hired a market whereas you speculator is betting on prices moving higher either way barbara shook says major oil companies will make money if they can maintain capital disappointed that is not spend on exploring new areas that could take years to produce like alaska her parts of the gulf of mexico eric smith at you lane university says the sixty dollar a barrel price can keep companies drilling at full speed where they already are and key to the money flowing brick capital this equipment is not coming from the oil company disappointing news coming from the lenders to people that are putting up the money to support peace aggressive trolling programs the us is on track for a record year of oil production but that doesn't greatly reduce volatility because it's just one of so many changing factors in the global market i mean you there for marketplace yes it's a new year but california is still digging out from last year's devastating wildfires it's too early to know how much damage has been done in southern california but it's likely to be in the billions of dollars add to that another nine billion and damage from the fires in the wine country up north the cost of those fires is still unknown but as kqeds sam harnett reports there is already a legal battle over who should pay for all of it on that edge over there those were off houses along that black and sir denis hunter is walk you through rows and rows of burnedout greenhouses his cannabis farms on the outskirts of santa rosa and the fires destroyed much of it underestimates five hundred to six hundred thousand dollars in damages we had us and people here um when when the fire came through so we had already heard from them and they said the place was on fyre as they were running out of it like many of his neighbors hunters been approached by lawyers who want him to sue the local utility pacific gas and.

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