35 Burst results for "permian basin"
"permian basin" Discussed on Newsradio 1200 WOAI
"Music, radio and podcasts, All in one discover a new podcast from our library of over 350,000 titles. Here's an I Heart Radio podcast preview. This region of West Texas, known as the Permian Basin is in the midst of the biggest old boom in history. The Permian Basin is the epicenter for oil and gas production in the free world. This unprecedented production has transformed the region from a depressed desert into a land of opportunity. My name is Cristian Wallace. I was raised in the Permian Basin in a small town called Andrews. I grew up on tales of the region's legendary booms and busts. I even spent a year working as a roughneck in the oil patch after college, but I've never seen or heard of anything like this. Against all odds, the Permian Basin has become one of the most important swaths of land on earth. The boom is reshaping the world's climate economy. Even our geopolitics way are now the number one energy producer in the world. And I'm not gonna lose that wealth on Dreams on Windows. Yet if you understand this place or its people This is a story of roughnecks and roustabouts. It's a crazy world. We're all running low on things we trust. That's why there's news Radio 1200 W away. I depend on us for real news news that affects you and your family news radio 1200 MW away I San Antonio Spurs ramp Their five game road trip tonight in Oklahoma City, first, currently five and five on the season, winners of three of their last four Oklahoma City has won four of their last five and our three game win streak. Air time is 6 30 tonight with.
"permian basin" Discussed on News Talk 1130 WISN
"The Permian Basin has become one of the most important Slauson land on Earth boom is reshaping the world's climate economy. Even our geopolitics way are now the number one energy producing in the world. And I'm not gonna lose that well. Dreams on windows yet few understand this place. Standing up for Milwaukee. This is the mark Belling late afternoon show 11 30. W s on a lot of discussion. Presidential campaign, including this phenomenon off the intensity of the support among Trump's supporters. Now I will grant you the father away. I've talked at length about how there's just no intensity of support of the side of the Democrats for Joe Biden, where their intensity is they hate Trump. So When you talk about the enthusiasm factor. I don't discount that. Some Democrats, who are not enthusiastic about voting for Biden might be enthusiastic about voting against Trump. President Trump is indeed a polarizing figure. However. And the following cabin is based on The advantage I have of years of experience experience of covering politics. There's an old saying about The devil you know, is opposed to the one you don't know It doesn't fully apply to Biden because Biden has been around the scene for so long that everybody feels as though they know him. People who Intend to vote against someone as opposed to primarily vote for someone. They're more easily moved. For instance. Let's suppose you have Somebody on the Democratic side who just loves Joe Biden had been a fan of him forever and ever and ever. They've always wanted Joe Biden to be president three times he ran before they wanted to know when they'd just love Joe Biden loved Joe Biden loved Joe Biden is the greatest guy in the world. He's sharper than people think He's the kind of Democrat they want, and they're patching it about him. Now so much like a trumpet Rael Rael Rael about how much they hate Trump. If one of those two voters is likely to switch and vote for Trump, which is it going to be? It's going to be the second one. Let me explain why Jeff That voter who despises Trump Comes to the conclusion. But the other guy is just his bad or worse. That's what you could move them. It's very hard. To get somebody off of A candidate that they just love. Very hard to get. You know me. It's an example of many ofyou off of Trump. If you could draw attention to the negatives of the other candidate, though, People will then be choosing to vote in this lesser of two evils are voting. The self interest of Trump keeps bringing up the 401 case. And what's likely to happen to the market and the economy if the Democrats come in and rights taxes and regulate everything again. It's why they're trying to raise the negatives of Biden with regard to the party. He is a member of Best case scenario for the Democrats. Biden serves out one term, but it's totally co opted by the left, especially if they get the set it You've got a party of Marxists and freaks over there. Again. You raised that point. And that person who doesn't like trump suddenly because you know, I like a bunch of other than coal. But we're doing pretty good as a country plus biding his party's about Jack hooks. You could move that person off that position. Next thing I want to move to you like this. I'm gonna make fun of grafted. You know, you like to make fun of grafted, don't you? Yes. You enjoy that. When you show up in Grafton, you ever get a degree from people in Grafton? You have family there and you have to be careful. But you probably looked at your nose, is it that you think of what you people you haven't made it yet or whatever you have to live and grafted. You don't even live in Cedarburg. You live. I hear people who say that you gloat. You essentially live in west bed. I think I just people tell me these things. I mean, well, yeah, They're people who are jealous of you Burn your claim, and you live in Cedarburg. They don't think you really live in Cedarburg. Hey, lives that attract home and Jackson. I hear that from people. Somebody said that once I do it, all right. Pulse is there is a trip. Well, yeah. Can you see the trailer park from where you live, anyway? I get this solicitor Do not draw conclusions till you hear me to the entire story. Mark. My daughter and I left our downtown Milwaukee jobs early this afternoon to vote. The village of graft and website says in person voting is from a M to 4:30 P.m.. When we got there, six others were walking out and saying we're too late. The sign says they closed at four o'clock. I'll be calling the village called about to complain, but thought I would. You might want to alert your listeners in our area. Thank you, and she signs it. I immediately figured out what happened here. Because stroke or not a year and a half ago. I'm still sharper than the average guy. What do you think happened here? They said it not after earlier I I just think that that probably didn't happen. Here's what happened. I went to the village of Grafton's website, and it does say a M to 4 P.m.. I would prefer they stay until five. You know, given credit eight is before a lot of community start. You know, grafted Like many of our committee. It's not really a both sort of a bedroom gets a suburban community and for some of the people who live or work, rather work at Milwaukee and still do in person work. You know, they appreciate that being ableto get at the end of day, maybe bug out of work a little bit earlier. Maybe your work ends at four and slip in. On the other hand for the places that started nine that obsolete the people who can come in A little bit earlier than that. I'd prefer they do 8 to 5 in the clerks stick around for an extra hour to handle it. But I'm not. We've had many communities that are way worse than 8 to 4. So I'm not going to condemn it. Village a graft. So you're saying when a woman says she saw the website ate that it was open toe for 30, right? I figured out what happened. Have you figured it out yet? I went to check the town a Grafton's website and there they are. 8 34 30, She and here's the other thing. Paul you village graft into upset looks just like the top. I mean, they have the same color decided and so on. And I'm sure she knows which one she lives in. But if you probably just typing, grafted or whatever in the search engine, it can take you to the wrong one. And they look almost identical. This So I think the village has had on the website all along four and that either she or somebody looked up the second We saw the town's ours, which are a little bit often. While others and this's like I say, if you have people that are trying to do something, then you're ours should accommodate them. And if somebody that's actually sitting in the building open the door, there's no law that says that they can't You could allow them to vote whenever you would. You know, the early voting period. They just have to end it by. You know the end of the end of the wake. There's you could have the hours as you want, as you seem to something, some communities with the very restrictive ours and others. That do not. But I'm not going to rip on the village of grafted for this. But if you're checking your hours and you go about the city or atomic sure you're on the Web site of the I've said, I don't think towns and cities and villages should have the same name, and nobody agrees that beyond that, literally. Nobody agrees with that. But I mean, there's almost everybody. Now there's like the city of P walkie in the village of pea walkie that you've got that the two seater burgs in the brook Fields addict. In most cases, it's easy enough to decide the one is the rural area and once not, But, you know, portions of the town of Wacha Shaw are rather commercial and rather urbanized. And same thing with Brooke Field. There are parts of the town of Brookfield that are At a couple of major commercial steps. The city of P Walkies actually the rural part more rural of the areas and it's the village that is The urbanized one. But it does lead to this confusion where People may not always know what they're talking about..
ConocoPhillips agrees to buy Concho Resources in big shale bet
"Deal in the shale industry since the collapse and energy demand earlier this year, Conical Phillips has agreed to buy control resources for $9.7 billion in stock. Take over will create a heavyweight driller in America's most prolific oil filled the Permian Basin of West Texas and New Mexico. Global
"permian basin" Discussed on REAL 92.3
"One discover a new podcast from our library of over 350,000 titles. Here's an I. Heart Radio podcast preview this region of West Texas, known as the Permian Basin. Is in the midst of the biggest hole boom in history. Permian Basin is the epicenter for oil and gas production in the free world. This unprecedented production has transformed the region from a depressed desert. Into a land of opportunity. My name is Christian Wallace. I was raised in the Permian Basin in a small town called Andrews. I grew up on tales of the region's legendary booms and busts. I even spent a year working as a roughneck in the oil patch after college, but I've never seen or heard of anything like this. Against all odds, the Permian Basin has become one of the most important Slauson land on Earth boom is reshaping the world's climate economy. Even our geopolitics way are now the number one energy producing in the world. And I'm not gonna lose that. Well dreams on windows. Yet if you understand this place for its people, this's a story of roughnecks and roustabouts. Ah, billionaire wildcatters and wannabe dreamers and full on hell raisers and of average folks, just trying to get a zoo world around them is turned upside down. From Texas Monthly an imperative entertainment thiss.
"permian basin" Discussed on KNST AM 790
"Music, radio and podcasts, All in one discover a new podcast from our library of over 350,000 titles. Here's an I Heart radio podcast preview. This region of West Texas, known as the Permian Basin is in the midst of the biggest hole boom in history. Permian Basin is the epicenter for oil and gas production in the free world. This unprecedented production has transformed the region from a depressed desert into a land of opportunity. My name is Christian Wallace. I was raised in the Permian Basin in a small town called Andrews. I grew up on tales of the region's legendary booms and busts. I even spent a year working as a roughneck in the oil patch after college, but I've never seen or heard of anything like this. Against all odds, the Permian Basin has become one of the most important Slauson land on earth boom is reshaping the world's climate economy. Even our geopolitics way are now the number one energy producing in the world. And I'm not gonna lose that well. Dreams on windmills. Yet if you understand this place for its people This is a story of roughnecks and roustabouts, billionaire wildcatters, wannabe dreamers and full on hell raisers and of average folks, just trying to get a cz. The world around them is turned upside down. Texas Monthly and imperative entertainment. This is Listen and follow this podcast for free on the I Heart radio app number one for music, radio and podcasts. All in ones. Garrett Louis Kelly Walker owns Viva Coffee shop on the East side. And he and his employees are being threatened because Pema County put them on the wall of shame over Cove. It Kelly joins me to talk about it tomorrow morning. 705 right here on honesty. From the city of Angels near the Pacific Ocean. Good morning. Good evening, Wherever you may be across the nation around the world, I'm George Noory. Welcome to coast to Coast Am later tonight. The historical importance of the Beetle. Here's what's happening. Hurricane Sally roaring ashore the northern Gulf Coast early Wednesday, making landfall is the storm threatens to become.
"permian basin" Discussed on NewsRadio KFBK
"Music, radio and podcasts, All in one discover a new podcast from our library of over 350,000 titles. Here's an I Heart radio podcast preview. This region of West Texas, known as the Permian Basin is in the midst of the biggest hole boom in history. Permian Basin is the epicenter for oil and gas production in the free world. This unprecedented production has transformed the region from a depressed desert into a land of opportunity. My name is Christian Wallace. I was raised in the Permian Basin in a small town called Andrews. I grew up on tales of the region's legendary booms and busts. I even spent a year working as a roughneck in the oil patch after college. But I've never seen or heard of anything like this. Against all odds, the Permian Basin has become one of the most important Slauson land on earth boom is reshaping the world's climate economy. Even our geopolitics way are now the number one energy producing in the world and I'm not gonna lose that well on dreams on windows. Yet few understand this place or to people. This is a story of roughnecks and roustabouts. Of billionaire wildcatters and wanna be dreamers and full on hell raisers and of average folks, just trying to get a cz. The world around them is turned.
Elizabeth Wetmore: Valentine
"Today. I'm very pleased and excited. My favorite thing on bookworm is when I'm talking to a first novelist. And it someone whose work I have not previously known my guest on the show today is a booth wet more Beth wet more. Her book is called Valentine. It's published by Harper and it's novel. Beth. Wet more is fifty three years old and this is her first. Book, she's published many short stories in many of the best literary journals, the Kenyon, Review Colorado Review but this is her first time in hardcover. Tell me Beth what feel nights is finally see the book in hardcover. Well. It's all been a little unreal honestly. I worked on the book for a long time and I was ready to have the editor sort of wrestle out of my hands. Honestly I think if if she hadn't wrestled it out of my hands, I'd probably still be tinkering with it to tell you the truth and even now I occasionally spot a sentence or a paragraph that I think, Oh, I'd like to have a do over on that. But on the whole, it's been wonderful and surprising to me I think I. Expected The book to come out very quietly and and so it's been. Marvelous to see how many people have reacted to it in such a positive way and how meaningful it's been to some people. Yes the book has made its debut as number two when it came out on the New York Times bestseller list and it's set where Beth was born in West Texas in Odessa. Now, if you're me, you think Odessa that's near where my family come from in Russia this is Odessa in. West Texas how does it get its name? Well it depends on who you ask You know the they're part of Texas was settled pretty late in the early eighteen eighty s and depending on on what piece of local you believe it was it was named Odessa in part because of the sort of grasslands that that people said resembled the Odessa in Ukraine. And and and that's really been the most sort of certain story I've heard. No was Texas. is known for its. Economy. I'm sure most of my listeners will know this but what is an oil patch? Well. Odessa is in the Permian Basin which is about eighty, six, thousand square miles inside. So and and of course, West Texas and. is is even more vast right than the Permian basin and it's an oil and natural gas rich region of the country I read recently actually that actually until the until the pandemic, it was on pace to outpace Saudi Arabia for the biggest production in world in the next five years That's slow down and been derailed a little bit by the pandemic of course but it's so an oil patches you know a a part of the world where that is the single economy oil and natural gas. It's not a particularly pretty place in the world at least not by most people's standards I think it's beautiful. There's no other way to make a living out there other than working oil and natural gas and Odessa where I grew up on differs slightly from it sort of sister city, of Midland, which is about twenty three miles away in the sense that Odessa's a very working class town most of the people who live and work in Odessa do the. Blue collar work of the oil patch. So they work is the roughnecks and pipe lawler's and fitters and water haulers and That's still even today a pretty male dominated industry women in that part of the world tend to work in support roles as bartenders and waitresses preschool teachers, teachers, that sort of thing So that's where I grew up.
Houston - President Trump visits the Permian Basin in Texas
"Company today in middle in Texas President Trump offering new help to the battered oil and gas industry and your estimated by the Corona virus crisis president issuing permits for new cross border pipe and rail lines with Mexico, not with the president, Texas Republican Congressman Louis Gohmert. He was scheduled to fly on Air Force One but tested positive for Kuroda virus in a pre trip screening go murder, who is known for not wearing a face covering in Congress said it may have contracted the virus from the inside of his master. That's Fox is John
Texas Hospitals Battle COVID-19
"John Henderson President of the Texas Organization of rural and community hospitals. Thank you so much for talking with us. so tell me what if things been like for you? With covert nineteen, so in the early days of the pandemic are hospitals started telling us they were having a terrible time getting p. mask, and gloves and gowns enhanced sanitizer, and so we kinda became a procurement shop for our rural Texas, hospital and most of those supply chains that we would normally lean on were turned upside down, so we were working with nontraditional vendors and middleman like what were some of the channels that you were reaching out to? Your last. Well. The craziest one was a friend of a friend connected me to a guy he knew that had. Literally smuggled them across the Mexico border in had mask in A. Warehouse in east, Austin, and so. I went down there, and he offered me a Tequila shot and we worked out a deal. And from what I understand like distribution, you say destruction, but that was like you in a car. Well maybe not formal distribution, but twenty or thirty friends of ours that had called our office, saying. Hey, I'd love to help you make deliveries. Kind of created this daisy chain of volunteers across Texas where you know, we could get something to abilene and then a friend in Abilene. Get it on up to Lubbock Grammar out west Texas and the Permian Basin. And, then as we kinda develop and got better at it. We were introduced to people who wanted to help. A A really good example is a lady I met named Camilla all this who I didn't recognize the name, but she's actually married to Matthew mcconaughey. And they were great about getting US donated. Supplies, mcconaughey! Yeah. Hey. Yeah And I didn't realize when she said she had a driver ready that it was matthew with A. Truck full of mask ready to go to. Hospitals. And she said I have a driver. Eddie and it was her husband Matthew mcconaughey, who was like liver masks. If you need me to the threat, it's amazing. Talk to me a little bit about sort of how things have changed since the early days as we talk today, most areas of Texas. Are. Reporting Trans that are a little bit problematic and scary. Right because from what I've read and what I understand like Texas was at a a pretty advanced stage of reopening, and then his actually like walked it back. Early on we were will behind other states especially New York, in thought, we managed it fairly well. Most of that worst case scenario forecast did not materialize in March and April, but it certainly has since the Memorial Day holiday I think that actual coca cases in hospital admissions are like four times higher than they were at the beginning of June and I think for the first time over the weekend. We were reporting more than eight thousand cases a day. So it's it's all headed. Definitely headed the wrong direction, and now we've got a statewide mask. Order Oh so everywhere you go. You have to wear masks outside. Everywhere you go in counties with more than twenty cases, which is almost everybody. We're working to try to secure a stockpile ventilators that we can distribute around Texas you know as we see those flare ups and can help them deal with it. The thing that's actually a little bit scary to me is that the urban areas are at or near capacity which means that the rural hospitals are having to keep patients that are a little bit more acutely, ill or higher level of need than they would normally keep, so we're? They would, they would transfer someone who is really sick to a larger urban hospital, which might have more equipment resources. Things like that. That's exactly right. And they're doing that fairly well, but. In, they've got bed capacity. They're just stretched when it comes to staffing, primarily I think the state of Texas actually has sent twenty three hundred nurses to South Texas to try to help them because the hospitals her. You know bursting at the seams. There's been a lot of coverage about the difficult financial situation that a lot of hospitals are in right now. The things that they traditionally made a lot of money off of elective surgeries and clinic visits have been canceled and they've had to make big investments in equipment and staffing other things to prepare for the pandemic rural hospitals operate on a really thin margin, compared to other hospitals often barely make a profit with this surge coming in Texas. Are you worried that some rural hospitals won't make it? Oh, yes. I was worried in April that we might have a dozen rural hospitals close in, I would get multiple calls every day from rural hospitals. CEO's that were saying. We're on the ropes. You know we didn't have any cash and we were maxed out on credit before this thing started. Now we've got you know. Shutdown orders, clinic, visit, cancellations, and no elective surgeries or procedures in. We aren't going to make the next payroll soccer. We're GONNA close. Thankfully in April. They got some significant federal stimulus money that aimed ten billion dollars nationally that rural hospitals and rural health clinics that single funding alone saved half a dozen rural Texas Hospitals Oh. And so a concern of mine as we look at the whatever the next stimulus package be that if if conditions don't change and that doesn't move, then we could. Have you know more rural hospital closures. You could make an argument that like well we. We should concentrate our resources an urban hospitals and they can have like the very best everything. People can just get transferred. Well, that's that's the argument that urban citizens matter more than rural citizens and I believe every Tex Mex and some of these rural communities are literally. From a larger community, so I think I think Cova has actually been a pretty stark reminder of lots access to healthcare in hospital. Capacity Matters. you know I, I know that we wish we had some of hospitals available that have closed in the last few years. I'm wondering I. Don't know just like what your? Takeaway from this whole thing has been. Well. I think it's probably the most consequential six months in my lifetime, and and maybe the most the next one hundred days. We'll be as important as anything we've been through. A since April,
Oil prices rise ahead of OPEC+ meeting on output cuts
"Parsley energy is turning oil wells back on just weeks after shutting them off evidence of the shale industry's agility in responding to rising crude prices parsley is one of the first and biggest drillers in the Permian basin to announce a reversal of production
Historic Oil Bust Delivers A Gut Punch To 1 High-Flying Texas County
"People in the oil business are familiar with the cycle of boom and bust prices. Soar prices plunge but they've never seen anything like twenty twenty when the pandemic abruptly brought prices to record lows even below zero. Npr's John Burnett reports from the Permian basin the heart of oil country in West Texas on a normal day in Andrews County look in any direction and stretching to the horizon. You'll see bobbing horseheads of pump. Jacks sucking up oil from deep in the earth but these are anything but normal days right. Now it's scary honestly Linden pertain. A well technician standing in Mesquite. Scrubland that overlays. What experts call a Monster Oilfield? We drove out here. Usually you'd see you with all these good wells. That historically have done a lot of production. They would usually all pumping and kind of looks like caterpillars all running across the landscape. You know and that's not happening right now. All across the vast permian that straddles West Texas and southeast New Mexico. Wells have been shut in in the Argot of the oil patch. American oil companies are pumping a million fewer barrels a day than were just two months ago. According to the Energy Information Administration all the big players out here Exxon Mobil Chevron conaco Phillips have slashed for Andrews County. The effect has been cataclysmic. The county is considering layoffs and the city of Andrews will hold off repairing streets and building a new city hall when you have a community that receives about eighty five to ninety percent of their tax revenue for minerals. It's a serious threat. County Judge Charlie Falcon follows the news. And here's about other cities. Taking a hit from closed. Businesses and Hospitalizations Andrews has had only twenty one cases of covert nineteen and most people have recovered. Nonetheless was Texas is getting a double dip of trouble. Not only do. We have all drop. We have corona virus. And we don't know how long it's going to stay around. You know what people not working not been able to shop not being able to you now sell oil Creates SERIOUS PROBLEM FOR US? Bob Stewart's welding and machine shop. His lost half its business amid the paralysis in the oil patch. A few jobs keep trickling in stewardess Paul and lumbering and jovial. He's done this for nearly forty years. He survived downturns before. But he says he's never seen demand if that rate like this whole world. There's no airplanes fly. There's No car driving cruise ships cruising. There's no summer vacations. Golic's we're producing a lot of oil for a world. That's not using not consuming Bob Stewart is grateful that he has not had to lay off any of his hundred ten employees. He got more than a million and a half dollars through the federal government's paycheck protection program. But that's not going to last forever. It's kind of nine eleven you over. You know what I don't know what it looks like. What comes out. The other side is going to be different with more than twelve thousand active whales in Andrews County. Hydrocarbons have been good to this community. There's an air conditioned Rodeo. Arena a waterpark and new little league baseball diamonds. The schools have a planetarium and an Olympic sized swimming pool. All over town. Grieving motorcycles and ski boats are parked in driveways and behemoth pickup trucks. Roar Down Main Street though the one two punch of the pandemic and the oil bust have left the region staggering. It should not have come as a complete surprise. Every oil addicted town has been before I've been interviewed by the media three times and every time it's when Andrews is on the map for some dubious reason with the Economy Russell Shannon President of the National Bank of Andrews says established companies. That saved for a rainy day. Will weather this bust a lot better than others as I. Try to tell some the younger ones when they try to get in the business. There's a storm cloud out there just because you don't see it today doesn't mean there's not one on the horizon. I mean we've just historically we've seen it too many times. The oilfield workers with six figure salaries thought it would never end. Even though it always does Mighty O. Fernandez was laid off three weeks ago. As a workover rig supervisor now he's realizing just how good he had it. While I've noticed so much didn't realize how much I spent when I was at work breakfast lunch. Taking guys out to buy food. You know of course you want to you know. Give your guys. Hey good job in here here. Some steaks baked potatoes or something for doing you know working to butts. Fernandez sits on his front stoop and Andrews having a smoke and catching the night air after a scorching hundred and four degree day. Now he stays home helps his teenage son with his homework and he tries to keep a positive attitude. I used to worry a lot The Bible says not to worry about what tomorrow because we don't even know we're GonNa make it more so I just have faith and just believing that it's GonNa come back together. The question is when and how long folks can hold out John Burnett. Npr News Andrews Texas.
How a drop in oil prices today could fuel tomorrow's energy transition
"Oil prices take a roller coaster. Ride I'm NPR. Chief meteorologist Paul Hotter here with climate. Castor oil prices fell below zero this week as much of the world shelters in place but the pandemic may also feel a six percent drop in greenhouse gas emissions. This year that's the biggest drop emissions since World War Two. So what does it mean for greenhouse gas emissions and energy as we rebuild the global economy marketplace correspondent Scott? Tong focuses on climate and Energy Scott. Welcome to climate cast. Paul needs to be with you so oil prices dipped into negative territory this week and then they spiked again. Put this into perspective. What's going on with the oil market so demand for the world's oil which until now had been kind of steady by one hundred million barrels of oil every day worldwide. That's fallen by thirty percent and now markets are Kinda flipping out trying to adjust to this whatever you call it. This pandemic normal were in now. Scott the lack of oil demand is also translating into a reduction in greenhouse gas emissions the world meteorological organization now predicts a greenhouse gas emissions will be down about six percent this year and the UN estimates global emissions must fall by around seven and a half percent every year from now until twenty thirty to stay within that one point five degrees Celsius goal on global temperature rise. How can we keep some of these emissions cuts and get the economy working again? I think there are opportunities in. There are also some challenges here. We've lost one in twenty million jobs you know. That's about one. Out of eight of us in the workforce so something has to change but the opportunity is to lock in some telecommute. You know we've learned that a lot of us can do most of our jobs Without having to commute to work there also might be an opportunity as far as our use of oil in the market right now. A lot of oil companies are in tough shape and so they're not investing in finding more oil. So what happens down? The road is if they don't find as much in demand comes back then. The kind of won't be enough in prices are GONNA go up. Then that makes it more affordable to find cheaper greener option. Say to buy electric vehicles and that kind of thing. I understand that if you shut off a well it's not easy to bring back on. Can that push markets in a cleaner greener direction right now in the oilfields of West Texas? They don't make money at the price where it is now. And so those wells are shutting down and a lot of other places that's happening to and for the older oil wells right. They need pressure from underground bringing oil. Backup and if you turn it off. In some cases it doesn't turn back on if oil. Some of that oil has to stay in the ground. Then we kind of have a scenario like Europe right where we're gasoline is just expensive by policy and in places where gasoline at tends to be more expensive greener options become much more affordable and we've seen renewable energy jobs booming. We know that climate solutions can produce jobs. Of course now. We see the oil sector jobs in kind of a bus cycle. So are we likely to see more job shocks and transitions going forward? As our energy balance changes we've seen a lot of oil jobs disappear already. I've done some reporting long distance reporting talking folks in the Permian Basin in West Texas where there had been a lot of energy jobs in those drying up pretty quickly so there are going to be winners and losers in every kind of transition for sure. The job search going to migrate to the industry's tomorrow. Marketplace correspondent Scott Tong. Thanks for sharing your perspective on climate cast today. Of Course Ball. Nice to be with you. That's climate cast. I'm NPR chief meteorologist Paul.
What's happening with the oil markets?
"I WanNa talk about something that has confused people no end and that is what's going on with the oil markets which is causing the stock markets around. The world. Have a really really rough time. So here's the scoop and we alluded to this on the show. Last week is that it was possible. That oil would go negative that people would actually have to pay to have somebody take their oil. And that's an oversimplification. But the way commodities markets work is people buy and sell contracts on futures exchanges where they're guessing what the value is. Something is going to be the next month months down the road. And what's happening with oil right now? Is there such an enormous oversupply that nobody wants it? People who own the contracts or essentially having to pay people to take them over and so we have had a double whammy first. We had the thing that Putin so successfully engineered that massively over produced oil from Russia and then intern from Saudi Arabia as demand for the products that come out oil gasoline and the others fell off a cliff because of all the sheltering in place around the world what. Putin has been trying to engineer is to destroy the US energy market the US energy market had become the world's largest and the situation for us different than Putin and Russia and the Saudis. And some others is that costs us more to produce each barrel of oil using principally hydraulic fracking than it cost to get it easily. Accessible reserves that the Russians and the Saudis and some others can get too so hydraulic fracking costs. More to do then. Most any other method of producing oil out of the ground or pumping it out of the ground and so it normal prices for oil. Our producers are marginally profitable to not really highly profitable but enough they can make a living what Putin saw was an opportunity to destroy the some of the economic strength of the United States and to create more market share for Russia's oil. And so he's been able to do both by pumping way in excess. The amount of oil needed in the world make no mistake dictator. Putin is dedicated to harming the United States. That's what he's always been about. That's who he was when he was with the KGB when it was still the Soviet Union. And that's what he's still about so where we sit today is the effects of what. Putin unleashed has essentially worked and now the world is so awash in oil that the problem is nobody knows if we're going to have any place to store the excess as a result you're going to see one oil exploration company after another and one oil producer after another in the United States. Go Bust and that's what he wanted to do and that's happening now. Historically when that's happened the oil industry in the United States has always been a boom and bust industry. Putin's victory will be short-lived because even as companies get cleared out as competitors when oil's price recovers as people around the world more or less eventually. Go back to work. The oil price will get to a point where players will get out there and start exploring and producing oil out of the ground again in the United States. So right now. This is really hideous with taxes as I read one story in forget if it was the Houston Chronicle or the Dallas Morning News both follow the oil industry so much particularly the chronicle. Does that Texans think of themselves as energy producers not necessarily one particular type of energy and already in the Permian basin the core of where hydraulic fracking has been so successful. Companies are pivoting to producing energy from solar because the Permian Basin is one of the best places in the United States to efficiently produce sewer and it's extremely profitable to do so there so no that one of the things about American capitalism is when one door closes. American entrepreneurs are willing to take a risk on another. And I think you're going to see that the big pivot in Texas in West Texas is going to be the sole were for now. But let's talk about what this means to you and me and our wallets so the last trade for an a gallon of regular gasoline at wholesale spiff four cents the effective. That is that around the country. What we pay for gasoline once people start going back to work and get on the roads and more normal numbers. The savings to your wallet operates like a big tax cut so this is a complicated thing in that a sector of the. Us economy energy production is taking a body blow. You and I as consumers have been just eaten alive by Corona virus but there is a dividend for us as consumers is. We'll go to fill our vehicles. Is We go through months of trying to recover from Corona virus? We will pay much less for the fuel we put in our tanks. There's lots and lots of things that the United States can do to strike back at the Russians not militarily but economically and one. That may be confusing. But you'll likely hear more over the next. Few weeks is having a very high tax on oil imports since we have such a massive supply in the problem is a price side problem with no demand out there that if we create a price disadvantage for the Russians with the oil that would maybe flow into the United States. It provides a bit of protection our producers. The problem is that creates a conflict between what works best for you and me as consumers which is having a lower price per gallon of gas and then the other side what works best for the producers which is to have some protection from the hideous actions of dictator Putin.
"permian basin" Discussed on 790 KABC
"On the bench press or go for jade hi there they're trying to get the full I'm calling in the Permian basin and my question is primarily are are just like everybody else in the heart of old industry in the United States I depend on the oil industry for a lively at like everybody else might count and president trump touted on our industry I am paying more often than not without a doubt it won a lot of voters my question is what do you think about how he's reacted to the interference of Saudi Arabia and Russia an old industry and has he done enough to help this industry in the middle of what's going on so did the second question is easier to answer and that is that the oil industry should be given the same sort of interest free loans it should be available to businesses all over the country I mean the fact is that the the forced shut down of businesses has meant the people are driving to work it's meant that people are not actually using transportation services and that means that the price of oil has dropped dramatically to the point where many many people are gonna be laid off so providing the sort of loans to to oil companies the other banks I think is is a very good idea as far as whether the president should be propping up the American oil industry in the face of Russian and and the Saudi interference my general answer on that is no the reason being that global competition is global competition I don't think that the United States should be subsidized except for national security purposes so if we actually had an undersupply of oil in the United States and that undersupply of a we're in danger in our national security than I would have the federal government to get involved but it is not a national security issue than the fact that that you know the there's collusion abroad by the Russians are by the Saudis to artificially lower oil prices and that that doesn't I don't think that the the federal government should necessarily get involved in in those sorts of in those sorts of issues I think there's a good case to be made we should putting sanctions on Russia and maybe even unsaturated or certain circumstances for national security purposes but again my my vision of the government is one that is very national security oriented one that is not as much about protecting domestic players in particular markets they're not national security required J. U. right right I just I feel like a lot of people in the industry bill I got pregnant Kalyana during his campaign and the only thing primarily that we've heard after that crash of oil prices with that he made a statement about gasoline prices going down which of course is good for the general consumer in our country but as far as I mean I haven't even seen that he's condemned Russia or Saudi Arabia or taking advantage of that code nineteen situation and pushing up prices further down I mean this is I'm you know that's that's right I mean the the the Russians and the Russians and the and the Saudis I actually couldn't agree on exactly how much the pump into the started almost competing with each other upon more trying undermine the fracking industry in the United States I mean that that is a a competitive move by them to compete with with the fracking industry as I say I'm not sure that it's trump's responsibility to step in and subsidized but I think that him pointing out that collusion among other world oil players I is damaging the American oil industry is something that is worthy of note I also as I say you know that celebrating the the drop in oil prices in the midst of a complete economic shutdown I mean the prices everything is going down right now because demand is going down on literally all the things so it is not a great shock to do well price are going and that's not something that is supremely worth celebrating at this point Jane really appreciate the call Stephanie in Italy your invention you're in trouble for seventy I think a lot of articles that are trying to talk about south Korea's response to corona motors and how America should either try to emulated or if it's even possible and there was a recent article in the daily wire about that by James Barrett and he talks about or different things that we've done differently rapid intervention before the pandemic was in full crisis implementing widespread testing contract tasty tracing and isolation and getting the public to help but I thought so I commented on Facebook that there's two things that nobody has talked about it and I feel like I wanted to get your opinion on it a number one Korea is everyone there has masks in general not only is it a fashion statement but because we have to deal with the yellow dust from China so we're talking an entire population that has probably more than one mask readily available they seldom kiosks in the subways they're everywhere and getting people to be able to use them is not a big deal the other thing too is that they have some other the Korean young men have to either do civil or military service so that makes a very easy way to mobilize them and also enlisted men for help to take care of any emergencies why do you think that nobody has mentioned these two huge things and how they're not transferable maybe the only one is Israel yeah I mean is it so you're exactly right now with regard to the facemask there has been some talk about adopting those sorts of habits in the United States at least temporarily as we get this thing under control when you're seeing on the streets young people are out on the streets of people going grocery stores increasingly wearing face masks the it was a big mistake for public health authorities the very beginning is it just a face mask are a bad idea they're not in fact a bad idea there is a shortage of them and they need to go to medical personnel first but they are in fact a pretty good idea errands and studies that suggest that everybody wanting facemask would lower transmission by up to eighty percent so that that is exactly correct as far as the the sort of place city of people in South Korea toward government orders because a lot of them have been in the military they're certainly true today I mean the fact is that south Korea's read regimen in dealing with this has been heavily focused on surveillance that would find it incredibly interested in the United States in the monitoring people cell phones to make sure that if you are diagnosed with corona virus they don't go out of your home right there they're they're using community surveillance to ensure that people are not affecting other people well that sort of stuff is really interesting the question is is that more interested in the United States this point and literally everybody in the United States staying indefinitely and I think that prices may make for warrants and new circumstances right now states for sure was that I'm sorry seventy I would say that we're in Italy and we've been locked down for a while and it's yes I'm not going to sugar coat it it's not fun yeah I know for sure I mean what we're Italy are you are you know and I mean that the prior year northern Italy or you are in the somewhere else in the rest of the country they both okay so what what's the I mean you may as well give it your now foreign correspondent here in Ventura so what's the situation like over where you are in Italy is it is it the same way you are and and sort of the horror stories we're hearing from from other parts of Italy right now if you don't go outside with a mask on people will give you dirty looks and every time I go to the store I have to be worried that if I don't have my special piece of paper the police will stop you in fact even if you have it I know one guy was complaining he went to work we got stops five different times because he was driving down from Rome and it seems everything all night were worried if the numbers are bad enough that we will wake up to even more restrictions and you know Americans I think it'll Italian they're having a tough time dealing with this I think the Americans here are as well I mean we're doing the best we can the kids are all the hospitals in the region are being over and you know that you know the hospitals and what were you are actually being overlooked is that what what I heard is that there are some pretty significant differences between cables are halfway down the the boot of Italy for function of geography no I don't think our hospitals I know that Compagnia the region and they just said that they were going to open so many more facilities and try to get more into beaters and respirators but I don't think they're overrun like northern Italy by any means and really and I really appreciate the call and thank you for the information on South Korea and also on on Italy it's obviously true that one of the big the biggest problem I mean this is what I've been saying basically for for for a while is that the death rate junk one of ours may not be as high as people are saying they are but in specific areas if there is an outbreak people can easily be overrun because there's so many cases of this thing Stephanie really thanks for your call and thanks for listening one gets more of your calls eight five five two three six thirty two twenty eight momentarily first I'm sure you've all noticed we're living in some pretty crazy times right now the court of iris has everybody pretty scared now would not be the.
WPX Energy expands in Delaware basin with $2.5 billion Felix deal
"And W. P. X. energy agreed to buy rival oil producer Felix energy for about two and a half billion dollars to expand in the Permian basin Felix has about fifteen hundred undeveloped locations in the eastern portion of the permanence Delaware
As Oil Prices Drop And Money Dries Up, Is The U.S. Shale Boom Going Bust?
"All right the S. and P. Five hundred hit another record high. This week it's up almost twenty five percent for the year but but the SMP's index of oil and gas stocks. This is down more than twenty percent. It's a sign of trouble for this country's oil industry Darius Roffe on has the story some of the most successful companies in the oil business business are household names thing Exxon Mobil or Chevron but the boom in shale drilling that has helped turn the US into the world's largest oil producer that that has been driven by smaller independent operators companies that have pushed the limits of drilling technology and taking big risks on unproven oilfields today day shale accounts for about two-thirds of US oil production and nearly all of the industry's growth but many of the companies that made that growth possible are now struggling to stay stay afloat. David Dacko bomb analyst at Investment Bank. Callan says that has a lot to do with the business model of US shale. This isn't industry. The you know for every dollar that they brought in they would spend two for years. Operators focused on drilling lots of new wells very fast prioritizing explosive growth over profitability. And until now now they've been able to rely on deep pocket. Investors who are willing to pour fresh capital into the industry despite years of lackluster returns. It's a story that may be familiar to anyone. He's been following the tech industry in recent years. Dekel bomb compares it to a kind of prospector mentality. There's a lot of romance I think. Because there's always this idea of this this brand's new play. That's going to have billions of barrels of upside. And if you know you can just get in early than it will pay off in the long run. Of course oil has always been a boom and bust I industry in two thousand fourteen for instance a catastrophic price crash left the industry reeling but even then billions in new investment flowed into US shale today today shrinking global demand for oil is driving the price down once again. What's different this time around? Investors no longer seem willing to write the industry a blank check. I think now. Oh you've seen a lot of pressure of we want you to be a real business. Your cost structure is too high. You have too much that I'm not funding. You're drilling anymore with external capital. You have to live within your means without access to fresh cash. Many producers are pulling back on new exploration. The number of rigs drilling for new oil is at its lowest point in two years. That's bad news is for people like Ron Fountain who works on a drilling rig. In the Balkan Shale of North Dakota. He thinks back to a few years ago when the price of oil was over. One hundred dollars a barrel and companies. These were drilling with abandon. That's when we were still booming. There was rigs coming out every month. We couldn't keep up. There were so many so much work going on today. Though with more and more rigs sitting idle life has become uncertain for fountain and his fellow. Drillers we went from having you know three year contracts to well to well contracts which means you drill one hole and if you did a good job then they'll give you another one or may drop you and we gotta figure it out from there and he's not the only one feeling. The Pinch Halliburton one of the biggest players in. US shale drilling has laid off nearly three thousand workers in the Permian Basin. The country's trees most prolific oilfield employment has almost completely stalled out. That's after going more than eleven percent last year. Meanwhile many of the smaller producers who loaded up on debt are struggling to pay it back leading to a wave of bankruptcies more than three dozen so far this year all of this adding up to slower oil output data from the department energy shows that production was flat in the first half of twenty nineteen after growing more than twenty percent last year in theory as production slows and supply shrinks. The price royal should go back up which could provide a much-needed boost. The question. Says Ron Fountain is how many companies will be able to survive. Until then I think as an industry we're we're GONNA be okay but I think there's a lot of people That are kind of holding their breath.
Exxon, Chevron earnings fall on lower oil and gas prices
"Well good morning happy Friday stock index futures there pointing to a higher open today jobs day in the economy added one hundred twenty eight thousand positions in October topping forecast that number offering hope that labor market can propel consumers to keep on spending well yesterday markets were rattled after Chinese officials cast doubts about reaching a comprehensive long term trade deal with the US the Dow fell one hundred forty points turning to earnings that was a B. for Exxon in the third quarter production from Exxon oil and gas wells slightly above expectations fuel by seventy percent surgeon output from the Permian basin however chevron missed in most recent quarter making it the only well major to fall short of predictions a tax charge partly to blame coupled with lower refining earnings and we do have breaking news Google agreed to buy smartwatch maker fifth it for two point one billion dollars in cash a move that could shore up the internet giant's hardware business affected could give Google a leg up in smart watch and also in the health tracker space so whoever invented Fitbit is very happy this morning all yeah they definitely ours though we're going to be able to watch their eyes all the trading coming up throughout the day bye yeah of people were expecting it but yeah now it's a done deal I'm corny done open for business on newsradio ten eighty
"permian basin" Discussed on NewsRadio 1080 KRLD
"Mark one of the most frequent questions that we get on the phone every week is where do I go for that first project, where is the best opportunity for the first time while gas investor and you have been pretty outspoken in your support of east, Texas and the Gulf Coast for the first time investor. As opposed to the Permian basin, which gets all the news coverage. So let's let's start with Ed explain that, if you would, you know, the Permian basin reminds me of deepwater Gulf of Mexico reading somebody not too long ago. And they said, hey, I have an opportunity to get a little piece of a well drilling in the Gulf of Mexico. Ten thousand feet is ten thousand feet of water deep. Sounds like me. Yes. Yeah. Two miles down before you even hit ground start drilling. But I said, listen, are you worth one hundred million dollars? No, the no don't be drilling out there. Don't be drilling deepwater Gulf of Mexico. Don't be drilling Permian basin. There plenty of bases onshore east. Texas, south Louisiana, north Louisiana. The Gulf Coast to get a great all in gas. Well, with a tax break went out extreme risk. That's what you don't want to extreme risk and being the Permian basin. You're going to be deepwater Gulf of Mexico too much risk. What you one shot at bat. Whereas with the Gulf Coast, you got lots of shots for your money at the case where you could get into a into a section and have a bunch of different chances to drill versus again. One shot at bat out in the Permian. And and you know you either do or you don't like. When the lease costs for getting in a well, like in the Permian basin or four five times what it costs drill a well you're in the wrong place. You're competing against a ten billion dollars. Singapore hedge fund or a ten billion dollar London hedge fund. No, you don't wanna be in that game. What can the numbers will click? So let's say you get into east, Texas and to take us through the tax break. And what the pros we look like if you get an decent basin with a really good geologic prospect, you should be able to drill a well it makes fifteen percent or more angrily for you. Plus, gives you that IDC tax break where you're going to write off one hundred percent of your investment. And so that's what that's really what you wanna look for fifteen to twenty percent plus a tax break you. I mean you're looking at a very productive investment at that point. Absolutely. There's, there's a reason. Exxon Mobil is one of the riches companies in the world. And that's because the fundamentals of doing our business. If you play the odds drill enough holes, you're going to get into great revenue and the government wants you to do it, and gives you a tax break for doing that the fundamentals of the business of very, very solid, and they haven't changed your part of the attraction. Mark the fact that new technology can be used in mature fields in on the Gulf, Coast, east, Texas, Jeffrey Hildebrand project down in southeastern as a case in point. Is that part of the, the appeal of that area? Absolutely. And one of the peels is new technology. The you know if say all we use a new technology in all field. It really doesn't mean a lot to people. You know, if you're an engineer Jolla Scher, but allies, put it this way. If thirty years ago, I went to a car dealership and said, hey, I like this car say I went to Alexis dealership thirty years ago and said, hey, I want a car and I want to not only do I wanna car and a great Incheon and, you know, great engineering, but I want to end dash computer that lets may select satellite radio and turn by turn driving directions to anywhere. I wanna go on demand thirty years ago. The salesman said what's a computer, right? Check it out. Not only that thirty years ago there wasn't even Alexis. Had to go to Toyota Honda shop. So you know what we what we think of every day, we are. So used to didn't even exist. Thirty years ago that technology, some, the technology that we use everyday was developed by the off ill t I developed the integrated circuit, as a geophysical company, and they invented it to help their own engineers process seismic for oil company so that technology that we use every day. We also use drilling. And you know, you've.
Why Oil Stocks Are Tumbling Today
"So what gives you a better reader things other to fill you in right here right now? So you know exactly what's going on in bizarre world? I it's well for years, stocks would rally whenever oil went higher higher, because it was viewed as a proxy for the healthy economy. What's still true? But now, the bulls want a weaker because pal so low places like we had today are good news for stocks when the price of crude gets club ruling it justifies some rate, cut the bulls don't care where the world's going down because the excess supply, even though I believe that's the case. You know what I keep thinking about that interview? We have a scholarship field. The dean of oil CEOs, he's a pioneer net who told us that the Permian basins producing an amazing amount of well right now roughly a decade ago when US position six. Barrels a day Sheffield came on this show and told us, we double that number by the turn of the decade. No one believed him. Well, sure enough, the US now BRUCE'S twelve million barrels a day in Southfield pre except soon we'll go to seventeen million no one's pretty but the oil markets reflecting. And if it happened, it will wreck do market right here right now, even as for thinking that we're so far away from it doesn't work like that. It for sees this and oil Bodley's already entered a bear market. It's now down more than twenty percent from the April highs. So that's good. In other words told her on the fossil fuels pleased that millennials don't like this. In other words, it probably is not done going down because there's less demand from historic Connie. It's be hit by supply glut, too, but the bulls don't care for them. It's all about plumbing oil prices as an exhibit of why the fed must cut rates because it says the economy is we
"permian basin" Discussed on NewsRadio 1080 KRLD
"Zero five zero. Well, boss, a lot of oil in Texas and a lot opportunities to own part of an oil. Well in Texas, take on the state and give us your observations where is the best place or maybe where are the best places to invest in Texas? Well, I like all of Texas, actually, I particularly like east, Texas, the Gulf Coast and the Permian basin. But for our listeners, the only bad thing about the Permian basin is the fact that the entry level to get in. It's just so expensive thing about this. If you're in the Permian basin that land costs are twenty five thousand dollars acre four very restrictive leases, and you're gonna go drill a horizontal well at five million dollars. Lease costs may be double or triple than the cost of a well what that's ridiculous. I mean, you know, that's only for people that are huge public companies that are leveraging their stock price to get into a deal. And they're not necessarily trying to make money off individual wells. They're trying to make money off their corporation as a whole through their Wall Street connections on their stock. And if you're not playing that game, they need to be an east, Texas or the Gulf Coast. What could it looked like a male? See we get in. I mean for for just a few thousand dollars, you can get into something that would cost you thirty thousand at the Permian, but you get in for a lower price at what are the economics? Look like, what's the return? Look like that's a good question. Basically, what you're looking at is when you know, you drill a well in east, Texas, you put six hundred forty acres together. And drove a horizontal well in east, Texas. The least cost should be about twenty twenty five percent or so of the drilling costs of the well versus in the Permian basin. The at least are two or three times the cost of one. Well, so by reducing those prices, and you should be in the minimum twelve percent. And a rate of return, and then even higher, and like, I say it son oil one time, we drill the well that we flowed the oil while we're drilling and it paid for it self before we got through drilling the horizontal leg. Now, that's extreme. But what you you know, in horizontal wells? You're looking at typically things that will give you a twenty thirty forty percent annual rate of return in the first couple of years because of the fact that horizontal wells can't deliver so much by oil just from their nature. So twenty percent plus tax break plus tax break. So you take whatever you return is. And you're gonna get a tax break to. So what are you looking at you could be looking at twelve percent return? But with a tax break that should throw you to twenty to twenty five percent return. That's fantastic. Will mark. Thank you. You really helped put all this in perspective. And if you'd like more information on what we. We've been talking about this morning. Give us a call. We have to open lines right now at smart oil and gas. We can talk about the best value opportunities in eastern, south, Texas. And again when we give all due respect to the Permian basin. But you just gotta be in a special league to ante up in that area. So give us.
"permian basin" Discussed on WSJ What's News
"The Wall Street Journal's Dan Gallagher explains how they achieved the milestone would tic- threes companies together is the way that they've. These products and services that have made such a deep impact into the lives of so many people on an everyday basis, and that sort of impact is not something we've seen even with other very large companies Gallagher says each company has also been able to capitalize on the bull market at a trillion dollars. They're reflecting both their own innovations as well as how investors have come to value the market overall. Alphabet is probably next in line to hit a trillion dollars at some point. It's casino. Some weakness of late, but the gap between it and the next largest company is wide yoga as we know accounts for the vast majority of the world search activity, and it proves this point that companies that developed technology that becomes so deeply ingrained in everyday life are the ones that the market values. The highest for more details on how the companies made it to a trillion dollars. Check out the video on our website at W, S dot com. You might know eighty is the biggest name in payroll, but that's just the beginning. Because ADP is transforming the way great work gets done with HR talent time benefits and payroll informed by data and designed for people. That's ADP always designing for people. The battle between Chevron and Oxydental for Anadarko petroleum is a fight for more control over the lucrative Permian basin in west, Texas and New Mexico. Joining me now, the escape from Houston with more on what's at stake. Is Wall Street Journal reporter Rebecca Elliott, Rebecca, let's get up to speed on. These rival bids between Chevron and Occidental lots been happening in the past few weeks. Anadarko is now considering offers from both of them. Yeah. Exactly. So and Darko is currently considering bids from both accidents and Chevron Chevron made the initial deal with Anadarko earlier Nate brawl, but Occidental responded with a higher bid and has even changed the terms of that did as recently as yesterday. And so it's still in the hands of the the dark board at the moment. And let's talk about the Permian basin. This is an area where growth has really exploded. Added and a statistic you have in your piece production. They are now makes up about a third of the United States. Crude output, that's an enormous amount. What has fueled growth there? The Permian is so attractive for shale drillers because it is the least expensive place to produce oil by fracking in the US. And so as shale drilling has taken off producers have can afflict to the Permian as a really attractive place to be. And it is so prolific because it is both incredibly large spanning much of west, Texas and eastern New Mexico and also because it has these layers of oil bearing rock stacked on top of each other that allow producers to reach multiple layers from a single spot on the surface. So big oil companies are definitely a. Presence in the Permian basin including Chevron and Occidental, but they're also plenty of other smaller players there to how has that composition changing. So the smaller players were really the ones pioneered horizontal drilling and hydraulic fracturing in the Permian. They were the ones who experimented kind of signed tuned. How to produce oil there and more recently, the majors like Exxon, Chevron have stepped in and tried to be fought their positions, as you know, it's become more advantageous to have scale in the Permian. And it allows you to optimize a lot of the logistics associated with oil and gas production. If you are bigger have more continuous acreage. And so we're seeing really a push to to get bigger right now, and how would Chevron or Occidental acquiring Anadarko change the makeup of the Permian. Listen, even more so Anadarko 's acreage is kind of in the middle of both Occidental's and chevrons acreage. And so for either party acquiring the company would give them more of a foothold allow them to increase production, and they both say achieve the kinds of efficiencies that you get with being larger. That's Wall Street Journal reporter Rebecca Elliott joining us via Skype from Houston with more on the Permian basin. Rebecca, thank you so much. Thanks so much for having. Now onto some more headlines from the Wall Street Journal, Houston Texas residents or suing the US
In the Permian Basin, A Fight for Anadarko
"The battle between Chevron and Oxydental for Anadarko petroleum is a fight for more control over the lucrative Permian basin in west, Texas and New Mexico. Joining me now, the escape from Houston with more on what's at stake. Is Wall Street Journal reporter Rebecca Elliott, Rebecca, let's get up to speed on. These rival bids between Chevron and Occidental lots been happening in the past few weeks. Anadarko is now considering offers from both of them. Yeah. Exactly. So and Darko is currently considering bids from both accidents and Chevron Chevron made the initial deal with Anadarko earlier Nate brawl, but Occidental responded with a higher bid and has even changed the terms of that did as recently as yesterday. And so it's still in the hands of the the dark board at the moment. And let's talk about the Permian basin. This is an area where growth has really exploded. Added and a statistic you have in your piece production. They are now makes up about a third of the United States. Crude output, that's an enormous amount. What has fueled growth there? The Permian is so attractive for shale drillers because it is the least expensive place to produce oil by fracking in the US. And so as shale drilling has taken off producers have can afflict to the Permian as a really attractive place to be. And it is so prolific because it is both incredibly large spanning much of west, Texas and eastern New Mexico and also because it has these layers of oil bearing rock stacked on top of each other that allow producers to reach multiple layers from a single spot on the surface. So big oil companies are definitely a. Presence in the Permian basin including Chevron and Occidental, but they're also plenty of other smaller players there to how has that composition changing. So the smaller players were really the ones pioneered horizontal drilling and hydraulic fracturing in the Permian. They were the ones who experimented kind of signed tuned. How to produce oil there and more recently, the majors like Exxon, Chevron have stepped in and tried to be fought their positions, as you know, it's become more advantageous to have scale in the Permian. And it allows you to optimize a lot of the logistics associated with oil and gas production. If you are bigger have more continuous acreage. And so we're seeing really a push to to get bigger right now, and how would Chevron or Occidental acquiring Anadarko change the makeup of the Permian. Listen, even more so Anadarko 's acreage is kind of in the middle of both Occidental's and chevrons acreage. And so for either party acquiring the company would give them more of a foothold allow them to increase production, and they both say achieve the kinds of efficiencies that you get with being larger. That's Wall Street Journal reporter Rebecca Elliott joining us via Skype from Houston with more on the Permian basin. Rebecca, thank you so much. Thanks so much for having.
Occidental Raises Cash Portion of Anadarko Bid as It Pushes for a Deal
"Occidental Petroleum is raising its bid for on Darko petroleum to seventy six dollars per share. Now, this will be a mix of stock and new shares his company is trying to beat out rival Chevron for control of Anadarko at the same time Occidental says if it were to win. Win. It now has an agreement to sell Anadarko assets in four African countries to the French oil giant towel. We have more on that from Bloomberg's Denise Pellegrini Occidental has struck a contingent deal with total to sell assets in ALgeria Ghana Mozambican, South Africa for eight point eight billion dollars. That's as Occidental is in Darkazanli sets in the Permian basin of west, Texas and New Mexico. Instead the goal is getting the attention of Berkshire Hathaway Warren Buffett's company as greet to inject ten billion dollars in preferred equity Occidental to help finance an Darko
Denise Pellegrini Occidental, Occidental And Anadarko discussed on Bloomberg Daybreak: Asia
"Well. Occidental Petroleum is raising its bid for Anadarko to seventy six dollars a share. It's a mix of stock in new shares as it tries to beat out rival bidder. Chevron in the meantime, Occidental says if it wins it has an agreement to sell Anadarko assets in four African countries to French oil giant, total more on that from Bloomberg's Denise Pellegrini Occidental has struck a contingent deal with total to sell assets in L. Julia Ghana Mozambican South Africa for eight point eight billion dollars. That's as Occidental's Anadarko zest. That's in the Permian basin of west, Texas and New Mexico. Instead the goal is getting the attention of Berkshire Hathaway or in Buffett's company greet to inject ten billion dollars in preferred equity and Occidental to help finance an end Darko.
"permian basin" Discussed on KTRH
"And I'm your host Kimball lotto today, we have a live show going on our guest today is car Ingham who is petroleum economist with the Texas alliance of energy producers and car before the break, we had a wonderful caller Joseph asking a very timely question about really big news. That's been really all over worldly. Big by in the Permian basin. And you know, we are actually scheduled to have a show around that too in which will be talking directly to them. So a lot of exciting things happening out there in the Permian basin would agree. The most exciting place in the country in terms of gas business. Again, the Permian has just really flexed its muscle in recent years, and probably as we sit here today owing to a couple of factors. It's probably the of the the largest single producing oil field on the planet right now. Granted it's not necessarily the biggest one because guar and Saudi Arabia. It's now producing again as we sit here today less crude oil in the Permian some of is probably intentional however because of this ought to use and OPEC's pullback on production. So it's not producing full capacity. But just the fact that we're talking about the possibility that we're talking about the Permian basin, the Texas and that global scope of that it is on the way to becoming potentially the largest single oil field on the planet. There is a lot of interesting stuff going on out there. It's it's mind boggling in many respects you. Can hardly get your arms around all of that. I I couldn't agree with you more. And also wanna cover car, you're an economist. Yes, we know that, but you cover things outside of just anything pertaining to the economy you can cover things like water issues in air. So I want to encourage our callers to call in and just kind of ask questions period. But let's get to our next caller. Who is David David black man as everyone knows is the famous editor of show magazine. David welcome to in all patch. Yes, you're famous..
"permian basin" Discussed on WSJ What's News
"Big oil companies are boosting production in the Permian basin. Both Chevron and Exxon Mobil have big plans in the coming years. Joining me now in our studio to talk more about the growth. There is Wall Street Journal reporter Bradley Olsen, Bradley, the Permian basin in Texas and New Mexico has led to an oil boom in those areas mostly driven by growth in hydraulic fracturing in the region. Tell us a little bit more about the growth there in recent years. Will the growth in the Permian basin has been tremendous. I mean, I think it's approaching almost four million barrels a day, which if you were to rank that area along with OPEC nations, it would exceed or be close to being able to exceeding Iran and Iraq. So I think a lot of people because it sort of west, Texas and New Mexico somewhat rural just something that people may not pay that much attention to the growth. There has really been surprising and tremendous ample, Chevron Exxon Mobil have recently details plans to expand in the area. What can you tell us about what they are planning? So Chevron is about double its production in the next five years and Exxon. I think is probably going to do the same the guidelines. They've given I guess by about twenty twenty-five each company will be producing a million barrels of oil and gas day and to give you some context on that, you know, right now each company, you know, that that would make up about a third of chevrons total production. If that were true right now an excellent that'd be about a fourth of their total production. So it's a major. Shift to the United States and to sort of North America that's going on with some of these big companies, and it's also somewhat unprecedented. One field for one company to have a million barrels a day. It's totally unusual, and it sort of reflects this push that a lot of the bigger companies are finding that they can get, you know, good profits. Good returns from the Permian basin, or they hope they can I guess you could say, and it's an opportunity where they have a lot of land. And and they feel like this is one of the most stable areas where they can operate, and we know that big oil companies did very well in twenty eighteen but what does their expansion, particularly in the Permian basin mean for those smaller companies in the region will in many cases, there there could be a squeeze, you know, if you have these big companies that are growing at a huge rate. They're going to be able to lock up pipeline space labor contracts, all kinds of things will be easier for them because of how big they are. And also because of the way that these big oil companies kind of go about their business, you know, Chevron the Chevron CEO. Oh, told us in an interview that they have, you know, they've reviewed twenty-five thousand wells, and they created this sort of massive development plan, which, you know, the includes kind of the optimal spacing how far well should be spaced apart all these kind of things, and so they're going about this in a very meticulous kind of programmatic way that is is designed to make money and a lot of the smaller companies, I think will face cost pressure because of that. And then a lot of them to have found it to be difficult. They've tried to undergo a shift focusing more on on returns making money and kind of having fracking be about profit before. Now, it's really been a lot about growth. How much can I grow production every year? But investors are saying, hey, it's it's time for this to make money. We're you know, we're twenty years in we've been waiting a long time you need to make money now. And so as they've kind of gone through that shift a lot of them have not performed as well, as I think many people would have expected based on the way they said expectations overall. What do these projections that Chevron and Exxon Mobil are making? For the coming years..
Big Oil Companies Plan to Boost Production in Permian Basin
"Big oil companies are boosting production in the Permian basin. Both Chevron and Exxon Mobil have big plans in the coming years. Joining me now in our studio to talk more about the growth. There is Wall Street Journal reporter Bradley Olsen, Bradley, the Permian basin in Texas and New Mexico has led to an oil boom in those areas mostly driven by growth in hydraulic fracturing in the region. Tell us a little bit more about the growth there in recent years. Will the growth in the Permian basin has been tremendous. I mean, I think it's approaching almost four million barrels a day, which if you were to rank that area along with OPEC nations, it would exceed or be close to being able to exceeding Iran and Iraq. So I think a lot of people because it sort of west, Texas and New Mexico somewhat rural just something that people may not pay that much attention to the growth. There has really been surprising and tremendous ample, Chevron Exxon Mobil have recently details plans to expand in the area. What can you tell us about what they are planning? So Chevron is about double its production in the next five years and Exxon. I think is probably going to do the same the guidelines. They've given I guess by about twenty twenty-five each company will be producing a million barrels of oil and gas day and to give you some context on that, you know, right now each company, you know, that that would make up about a third of chevrons total production. If that were true right now an excellent that'd be about a fourth of their total production. So it's a major. Shift to the United States and to sort of North America that's going on with some of these big companies, and it's also somewhat unprecedented. One field for one company to have a million barrels a day. It's totally unusual, and it sort of reflects this push that a lot of the bigger companies are finding that they can get, you know, good profits. Good returns from the Permian basin, or they hope they can I guess you could say, and it's an opportunity where they have a lot of land. And and they feel like this is one of the most stable areas where they can operate, and we know that big oil companies did very well in twenty eighteen but what does their expansion, particularly in the Permian basin mean for those smaller companies in the region will in many cases, there there could be a squeeze, you know, if you have these big companies that are growing at a huge rate. They're going to be able to lock up pipeline space labor contracts, all kinds of things will be easier for them because of how big they are. And also because of the way that these big oil companies kind of go about their business, you know, Chevron the Chevron CEO. Oh, told us in an interview that they have, you know, they've reviewed twenty-five thousand wells, and they created this sort of massive development plan, which, you know, the includes kind of the optimal spacing how far well should be spaced apart all these kind of things, and so they're going about this in a very meticulous kind of programmatic way that is is designed to make money and a lot of the smaller companies, I think will face cost pressure because of that. And then a lot of them to have found it to be difficult. They've tried to undergo a shift focusing more on on returns making money and kind of having fracking be about profit before. Now, it's really been a lot about growth. How much can I grow production every year? But investors are saying, hey, it's it's time for this to make money. We're you know, we're twenty years in we've been waiting a long time you need to make money now. And so as they've kind of gone through that shift a lot of them have not performed as well, as I think many people would have expected based on the way they said expectations overall. What do these projections that Chevron and Exxon Mobil are making? For the coming years.
"permian basin" Discussed on Bloomberg Radio New York
"Boil in order to pretty much be break even versus their own infrastructure because their public spending on other things to keep up a populous restless populace quiet at a certain price. Nobody can make money so exploration stops. And then at a certain price oil is so high that people start to look for substitutes back. And so that's what this guy meant by. There's a price that kills supply in a price that kills demand people claim proponents claim that technological improvements and the beginning of fracking in an area of Texas and New Mexico called the Permian, which has been an oilfield for a century. But has turned out to be really prolific with this new technology of fracking that these things are going to reshape the financial firm of the industry. And so we're gonna start seeing profits from the from the publicly traded from the publicly traded fracking companies skeptics say those decline rates are still bad. All we're doing by getting more oil out of the ground more quickly with new technology is emptying the well more quickly. We're not increasing the amount. You can get out of it over the life of the well, and there's still isn't going to work economically. So the theory is that within the Permian basin even under seventy five dollars a barrel and under five dollars the linear square foot for the. Natural gas natural gas that that or is Cuba square for the measurement. But Permian basin can become profitable. At those those certain parts of certain parts of the Permian basin for sure can be profitable at those prices. Whether the whole basin can be profitable because I profile and the and the bucket company called E R J, that's kind of regarded as the apple of shale. If there is a total counterpoint to Aubrey mcclendon, Chesapeake. It's J highly efficient, very cost conscious basically kind of technocrats of the of of of the shale industry, and they say the CEO via Jay says all land isn't created equal the idea that you can drill a well in one place in the Permian basin. And that means you can drill wells everywhere in the Permian basin and produce the same results. It's crazy geology is really complicated. And so he he believes that some of what we can extract from the Permian basin is at at at low prices overstated last question about Aubrey 'cause you describe. In the book. How it's not just that. He's spending too in five and ten x on land leases versus everybody else, but his own personal life. He's all in on everything. There's no safe money. There's no well, let me by my. He's just fully leveraged constantly in every segment of his life. He struck me as a fascinating character because he wasn't just willing to risk other people's money. He was willing to risk his own money. He risked every bit of money. He ever he ever got. There's this great quote from him when an analyst on a conference call said at one point when is enough enough. And he said I can't get enough. And I think that sums up the man, but yeah, he bought the Seattle Sonics move them to Oklahoma City renamed the thunder. He had mansions around the country, including round the world, including this extravagant place on Lake Michigan. He at an antique map collection, and he was best. Now, he'll appreciate this for an incredible collection of line. Someone who knew I'm told me that his collection of wine at one point was actually the best in the in the world. He had a special love for the really big bottles. What are those things called Jared Bohm's and the? Really rare Jared bombs. I mean, he he was a character fascinating coming up. We continue our conversation. With Bethany McLean discussing our.
China Slams Brakes on US Crude Oil Imports
"Imports China's largest refiner Sino Pak than suspended its incoming shipments of US crude yet eventually resumed some purchases after crude was removed from that list. The future of American crude shipments into China remains uncertain. And there is still no guaranteed that threats of US crude tariff won't resurface as the trade conflict persists. American oil producers, particularly those who operate in the key Permian basin of west Texas and New Mexico risk feeling the pain from the ongoing tensions as they increasingly looked to foreign shores to market their supplies as local demand become saturated. We reached the end of today's edition of Biden's briefing. I'm Joe Biden. Thank you for this.
This 'Water in a Box' Technology is Changing the Game
"The CEO and chairman of origin clear. They're a publicly traded company. We followed for some time there. Stocks OC L N if the leading provider of water treatment solutions, and of course, the water chain inventor, Israel, executive, Mary, but lots of great stuff going all your company raised. We thought we just do a big a big review of what's happening with you guys because you're all over the news. I'm getting a lot of people emailing us about about a new investment offering with with origin clear. And and so you guys are moving and shaking with your acquisitions. And of course, your technology is is is. Valued at the highest level since he hasn't restarted so talk a little bit about the review of what's going on here. Hey, guys. Yeah. So been awhile and the interim things have really taken off on performance. The headline you see on the homepage. There is that progressive water are Texas our Texas company doubled its revenues year over year at the half year, Mark and that is continuing. And then of course, we took on this new group called modular water, which I talk about in these videos from another channel. Yeah. And and basically modular water came out of nowhere with a huge book of business and started doing deals literally in the same month started. And we're rapidly ramping up up, and this is a super cool technology for these. They're sort of like water systems in a box. They're fully packaged in these rigid containerized systems, and they they pop them out of the factory on a truck drop in the ground. It's great, for example, real estate developers love them because they can put up a system connect to the sewage and they can water their golf course with the grand blackwater from the home. So it's a beautiful thing. And he's kicking and this and this is one of your subsidies. So a couple of years ago rigs went on aquisition strategy, and by the way, acquisition strategies, are brilliant because they literally are the fastest way to grow your bottom line when you're when when you acquire a company using stock and cash for currency, and then suddenly you have all their assets on your book. And the first thing you do is you get rid of the debt, and you start you start romancing. The biggest customers this is this is one of the acquisition stories, great, right? Well, it's amazing because this is a company we were actually going to choir couple of years ago for a lot of cash and the thing about private companies is they tend to be undercapitalized. And sure enough we were there waiting eilly right out of capital and said, this is a deal. And we said, okay, we were like the FOX and his Larry. And he's got an amazing business. I really can't get into the forecast. But we'll be able to report that guidance in early November. It's been going on in Q three. So the big stuff going on there. And we have a slate of acquisitions for which we've hired a mid market investment, Bank, New York. Again, I'm limited what I can say. But they're they've committed to this. And it looks really really good. This is some great companies, and they will dramatically increase our revenue profit. He is one of those boxes. Put out the modular water system box, you drop it. And like you're saying five gallons an hour. Fifty million day. I don't know what what kind of. What kind of what can you move through the machine? Well, typically, it's around fifteen thirty thousand gallons per day. That's enough to water a golf course. Well, you see this photos there. These are these rigid plastic things and a top right? You see a pump station. Now, there's one that's been installed at the federal courthouse. In fact, and all of southern California is full of pump stations that are rotting because they're concrete, and literally dissolving this thing goes in it's one hundred year life, we could go all day long. And they're simple. The prophet is astonishing. Know, what's interesting here is how you guys have really taken a top down approach created enterprise wide solutions because not only do you have aquisition strategy for things like this. Because also technology talking about your technology because there's a lot of IP around around. What you guys do at some point. You're gonna be able to take that dubbing model that she wants dreamed avenue in every country, not only that, but we're actually going to go direct to market with our technology. We decided that licensing is great. But it's like watching the kettle boil and it never does. When you watch it. So weird thing then you step away, and it overflows. So here we are with licensing model. That's going raid. China. My guide jail is going to Amman this month to close a deal with the national petroleum company. They're doing really well in the oil patch by the way, and you know, that the Permian has a big big problem right now because they're going to have to stop production. When is it twenty twenty-five if they don't do something about all the water? They pray premiums in Texas. Right. Is that right? The Saudi Arabia of the US. Permian basin. It's huge huge. And so we're in there. We're actually selling dish inspection systems that sweeten the crude. And we sell that at scale. Of course, we're not we have a license. And of course, it stealth because y'all all mystery, please don't talk about us. Forget. So instead, we talk about manure effluent in fate. That's what it is. As a new name for it. Yeah. Before let's get out of here today. Tell us what's tell us. What's happening in the next the next eighteen months with your guests. Well, I really believe that we can achieve the profitability. That's our we have the best show holding the planet. They so believe in this technology navy ridge. Good go for it. You're you're great. And they've been behind us this this current offering is fantastic. Because it's not just more stuff. We don't want you to buy more stock if you're in a credit investor we want to invest in an asset which will tell you about if you Email at invest at origin, clear dot com. I'll tell you what we're gonna put that on our website for you. Because you you should see that. If you want to get involved with their technology, fantastic stuff. It's not like
"permian basin" Discussed on NewsRadio 1080 KRLD
"Analyst, David Johnson. Well, everything has been so hot in the oil patch. Nevada, and it's the employment base of Texas's increased. It shows no signs of stopping well. At least it didn't look like it show decides stopping then comments out Wednesday morning from the CEO of Halliburton. He said, you know, their earnings are going to suffer a little bit because of a worse-than-expected downturn in the Permian basin in west Texas stock sold off five or six percent of on that news because I think it came out of a surprise maybe not though to Bernard Weinstein, whose the whose the associate director of the choir energy institute at the Cox. At SEM Uni Georgia's right now, it's good to have you with us, David. So you surprised by surprised by what problems in the Permian or? Stuck? The Permian basin. I thought I they tell me a hotel room in in Midland is more expensive than in Manhattan. That could be this often happens when you have an energy, boom. The housing supply hotel supplies limited. So you see a big jump in overnight rates. The problem in the Permian right now is too much production relative to the ability to move that product refineries or to export terminals. In other words, there is a shortage of pipelines. So we don't have adequate takeaway capacity. I just give you some numbers right now. Production in the Permian is about three and a half million barrels per day. That's about a third of the country's total oil employees while but the capacity the move that stuff to market is only three point one million barrels. So so it's building up. So so we've got these chokepoints in those choke points are going to be there probably for another year. There are lots of pipelines in the pipeline so to speak being planned or actually some under construction. So this problem will leave itself eventually. In the meantime, there has been a slowdown in drilling a drop in the number of rigs because as I said, there isn't enough capacity to get that stuff. To the marketplace. So the effect is in the long run is going to be great demand for the product. But for right now the activity level out. There is a beta the Permian basin is like that energizer bunny. It just keeps giving remember we started producing the Permian in the nineteen twenties. And here we are a hundred years later, and it's still pumping, and it will be pumping for a long long time because the Permian is like a layer cake cake. It's got maybe a dozen pays owns interesting times. Interesting times and always good to check in.
"permian basin" Discussed on WSJ What's News
"But each day drillers are burning up about a million dollars of natural gas, which is a byproduct of drilling for oil because they say they can't bring it to market joining us. Now via Skype from Houston is Wall Street Journal, reporter, Rebecca, Elliott. So Rebecca, this practice of burning natural gas known as flaring is happening in the Permian basin with the permission of regulators. Can you explain a bit more about how it works and why it's being allowed to occur in that area? So when operators drill for oil which is kind of the the main objective in the Permian basin, they also get gas and production is increasing so quickly in in Texas in New Mexico that producers have way more gas than they have pipeline capacity. And so they have all of this gas at. Wellheads that they have to do something with and rather than curtail oil production, they decide to burn the gas because they don't have anywhere to put it how much of an increase in flaring are we seeing in this area? So flaring hit a new high last quarter according to analysts estimates. And that was about three hundred twenty million cubic feet a day of natural gas that was being burned in west Texas and New Mexico, and that acquaints to about a million dollars worth of gas that drillers are lighting on fire each day out there. So to put that in perspective, that is more than daily natural gas consumption of many small states and the greenhouse gas emissions associated with that flaring. It's about roughly equivalent to the greenhouse gas emissions associated with driving two million cars for a day. Rebecca. Are there any alternatives to flaring in or environmentalists concerned about the practice? So essentially, if you're not going to reduce production to cut down on the gas that you're producing, the other option is to release the gas directly into the atmosphere, and that's a practice called venting man. Actually, that is worse for the environment than flaring is in. So environmentalists actually are far more concerned generally about venting than they are about flaring in in the reporting that I've done. It's this catch twenty two in which many people see see this practice as better than alternatives whether those are environmental or or economic. So Rebecca, we are amid in oil production, boom in the US. Does that mean we should expect flaring to continue for the foreseeable future? Yeah, absolutely. So. So the consulting firm who analyzed the flaring data in the story actually expects flaring to more than double in the Permian over the next year before new natural gas pipelines come into operation at the end of twenty nineteen. So generally, you know, particularly given regulators acceptance of flaring. The expectation is that this practice out slightly will persist in an increase is this giving fuel to arguments for more natural gas pipelines? If the complaint is that there is not enough infrastructure to bring this natural gas to market their plans for several new natural gas pipelines to be built in the Permian. It's just that a lot of that infrastructure typically lags production increases, which is the point we're at now. And so those those new pipelines aren't scheduled to start operating until late next year or after. And so we have this period in which production is increasing quite dramatically, but that infrastructure or just hasn't kept pace that's Wall Street Journal reporter, Rebecca, Elliott joining us via Skype from Houston to talk about the increase in the practice, known as flaring in the Permian basin. Thanks so much for joining us, Rebecca. Thank you for having me and that's what's news. I'm Anne Marie for totally in New York for the Wall Street Journal. Enjoy the what's news podcast. Then try the what's news newsletter. Sign up at w. s. j. dot com slash newsletters. That's w s j dot com. Slash newsletters..
"permian basin" Discussed on Jokes So Funny
"Not going to affect his day to day life i still being cardi still goes back and forth does he's transactions gotta truck outfit somewhere over here in permian basin trying to get a strip club down in some little city mexican didn't affect him he's still back and forth instead what these other females it doesn't matter it and i agree with that for the most part these people that are elected they're not gonna affect my day to day life someone say with a nuclear bond this and that i guess but not my day to day right these people wanted an effect me they're not going to affect you they're not gonna affect you you you think that but it's like okay what i see to argue that would be like the legislation passed for the war on drugs that ended up in like so many people being put in jail in like automatically your day to day every day after that is affected by your experience in jail the most me the most as well as like yeah but the thing is you may not so maybe you don't see the way you're being affected on the day day but also here in lubbock man you gotta think are you sure because like like we have a private prison in lubbock the prison might not affect you but it might affect somebody who is in proximity to you right and even if it doesn't i think you have an obligation to like your neighbor to like just fucking give shit about other people's quality of lives and how things are badly affecting people especially when it's something really serious like if you elect somebody who's irresponsible to like a place where they might appoint someone in the who's responsible for killing children and drone strikes that's an irresponsible action on everyone's part that's about a democracy or republic is you own part of the given album voted as out right longterm she would talk about you we're not gonna live in a fucking monarchy man this shit might affect me a little bit but for the most part it's not not here in lubbock texas no you're right reminded cover the fuck you want but it's not really did call you yeah who would call you that why don't they call you that whatever you ain't talking to you narrow minded you wanna sign you on some you label you want signed me whatever out where there should around my fucking neck medallion give a fuck but for the most part it's not going to be here in lubbock texas the whole on drugs thing yet that was that was conjured up by some asshole to fucking make money to get weed and all this other shit do i think we'd drunk no i don't i don't i don't even smoke yet baby my brotherinlaw handle what do you think about that i think the war on drugs i figured you might have an interesting take on that the war on drugs maybe fuck in the war on drugs yeah more wasn't you think things make money what they saw what the cia did yeah we're going down the rabbit hole up they create these systems in central america and they use drugs for these cartels as to give them money for weapons so that they overthrow their governments back before that though for the for this communist regimes and all that what they were afraid of in the seventies and eighties was for communism to happen in south america and so they were they were sending all this money down right encouraging them to sell drugs and turn a blind eye to it said they use that money for weapons but when you're talking about talking about the demonization of marijuana eagle back further net.
"permian basin" Discussed on KTRH
"See something right which what would make you think that's genius growing pains across america's biggest oilfield opec agrees to boost production oilcloth seventy three dollars a barrel yesterday permian basin arguably the most important oilfield in the world is growing so fast that it hurts a rush to pump oil out of the west texas shell field has vaulted the united states to record high production levels but the gangbusters growth has created serious challenges the permian basin is rapidly running out of pipeline to carry all that crude companies are struggling to find talented workers and the region's infrastructure is buckling under the pressure ryan sitton commissioner on the texas railroad commission told cnn money magazine in a recent magazine in a recent interview right now everything's an issue water saying buildings transportation you name it the lone star state is no stranger to the boom to bust nature of the oil industry but the speed of this cycle has even caught many in texas off guard in two thousand fourteen it was amazing two thousand sixteen was down in the dumps two years later it's back to crazy said sit in the permian basin is growing pains have global implications us oil prices have nearly tripled since their early two thousand sixteen low in large part because of production cutbacks by opec and russia sanctions on iran are also biting with crude hitting three and a half year high this week more than ever the fastest growing permian basin is being relied on to quench the world's thirst sorry the fast growing permian basin is being relied on to quench the world's thirst for oil the permian is the quote largest and most important soil source of oil supply growth in the world analysts at consulting firm would mackenzie wrote in a recent report that's because a permanent basis unique geology makes it easier and cheaper for mayor pl major players like chevron and.
"permian basin" Discussed on KKOB 770 AM
"In the permian basin the basin covers part of new mexico as well as west texas so what are new mexico's advantages in the permian basin robert mcintyre with the state oil and gas association says that this date is home to some great geology we at the delaware faith in northern delaware vase which is really been identified bow a number of company leading geologist at a sweet spot for the permian based in terms of acreage that you would want to hold in 2018 northern delaware acreage it is one of the most prized possession and to help achieve growth in the permian basin exxon is expected to increase a further sixty five percent over the next several years mcintyre says there's been a big uptick in drilling right now and the anxiously awaited w g the genius exhibit opens on saturday at the new mexico museum of natural history and science in albuquerque deb novak the museum's director of education tells news radio kkob that it's a twopart exhibit the leisure for the exhibit is on to thinks he's notebooks his inventions and the science behind this and in the second part of the exhibit is on a science behind the mona lisa in his renaissance art novak says that the exhibit demonstrates the full scope of leonardo da vinci genius as an inventor artist sculptor and architect it will be on display at the museum through july tickets are twenty two dollars and ten years ago to firefighters from chihuahua mexico came north for training with the albuquerque fire department one of those men is now the fire chief in that city this week three others from chihuahua are following the same path as they begin twenty weeks of training with a if d as part of the.