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We at the Bakken Oil Business Journal are die-hard supporters of the fossil fuel industry. Many of the enterprises we follow operate in the energy-rich corridor of the US that stretches from North Dakota down to Texas. Fortunately, these central states look favorably on oil and gas. But some states and some organizations are far less supportive. Some are downright hostile to the development of oil and gas. It is against these foes that our friend Tom Shepstone fights his battles. [Read more]
On a visit to the Bakken oilfields of North Dakota, one might expect to hear industry players talking about the latest fracking technology or their plans to horizontally drill a new formation. But nowadays a common conversation is about the problem employers have trying to fill job openings. North Dakota oil producers recently set a new daily average production record, but the numbers could be even better if more workers could be hired. [Read More]
Ryan Zinke, our Secretary of the Department of the Interior (DOI), is a busy man. The actions and results of his efforts since his appointment in 2017 are incontestable proof.
“Under the Trump Administration, Interior has made incredible strides in creating a conservation stewardship legacy, modernizing our infrastructure, helping combat opioid addiction, securing the southern border, and so much more,” said Secretary Zinke.
The mainstream media, as we know, does not favor the Trump administration. Any story that includes a negative feature, no matter how minor, is pounced on by the major news venues as evidence of malfeasance. [Read more]
“Unmanned Aerial Vehicles” over the Oilfields
By: Joseph R. Dancy
Advances in the oil patch have taken many forms over the last decade. It’s no surprise that many of those new and exciting changes have appeared in the Bakken. However, most of the new developments have focused on drilling and completion activities. But recent advances have gone in the other direction. Up rather than down. Airborne. Operators are now flying “unmanned aerial vehicles” or drones over oilfields.
By: Chris Bischof
North Dakota is having a growing impact on the US and the world. That might seem like a grandiose claim, but clearly the course of domestic and global events suggests that an unusual amount of influence is emerging from this Peace Garden State.
The key, of course, is hydraulic fracturing. But the growing impact is tied to the changes that fracking has led to. Big issues, including the transportation of oil and gas, energy prices, petroleum products and, more locally, flaring.
When the Bakken Boom started, the chief method of moving oil from the oil fields to the refineries was railroad tank cars. Over time, pipelines took the lead. [Read more]
Labor Unions in the U.S. Oil Industry
By: Bob van der Valk
U.S. Labor Movement was once the Core Institution fighting for Average Workers.
Like many industries, the oil industry employs union workers. A large number of those unionized employees are members of the Oil Workers International Union. They are part of the United Steel Workers Union. Members of the AFL-CIO. It should surprise no one to learn that the history of unionized workers in the oil industry goes back to 1880. But it took until about 1917 for the new unions to gain negotiating power. [Read more]
Ten Reasons 2018 Will Be a Very Good Year
By: Joseph R. Dancy | E.D. of the University of Oklahoma’s College of Law Oil & Gas, Natural Resource, and Energy Center
Good news. After several years of depressed activity, the outlook for the energy sector in 2018 has turned positive. Many indicators and trends suggest higher oil prices, more drilling and more developmental activity are ahead.
Consider the following points. Over the last six months:
(1) The oil futures curve has gone from ‘contango’ to ‘backwardation’, a condition the Dallas Federal Reserve notes is a bullish indicator.
On Sept. 25, 2017, the Brent futures curve went into backwardation (downward sloping) through year-end 2019. Three months earlier, it was fully in contango (upward sloping). [Read more]
Energy Dominance – Making America Competitive Again
By: Jessica Sena
Don’t tax me, Bro
Love him or hate him, Donald Trump is presiding over one of the most exciting economic upticks Americans have ever seen. Coupled with a massive regulatory rollback, optimism is now flowing from Wall Street to Main Street.
The stock market is skyrocketing, GDP is up, unemployment is down, and thanks to a Reagan-sized tax reform package, overseas businesses are coming home, repatriating tax dollars in the United States. Countless others have announced plans to increase job numbers and wages.
Though the Tax Cuts and Jobs Act has received criticism, a report released by the Joint Committee on Taxation in December explains that 77 percent of total tax cuts will go to individuals. That’s $1.1 trillion in tax savings to average taxpaying Americans. [Read more]
Bakken Leaving 2017 Healthier & More Mature
By: Rob Lindberg | Director, Bakken Backers
In a conversation at the beginning of 2017 with an industry leader, we reminisced about the number of experiences and happenings that have occurred in such a short period of time in the Bakken. His experience began in the early 2000s; mine began in 2012. We talked about the North Dakota oil industry before the Bakken, its first discoveries, the mini boom, the mini downturn and the full boom with incredible growth, endless traffic and constant media attention.
It was a remarkable time. Entrepreneurs made fortunes. Workers earned incredible sums. Many spent more than they earned. Work was endless, as was the unbridled enthusiasm shared by those within it. [Read more]
Trumping the Naysayers
By: Chris Bischof
In the days leading up to last year’s presidential election, Americans heard that electing Donald Trump to the presidency would damage the US and put the entire world in grave danger. That message was hammered 24 hours a day, seven days a week. It came from every media venue. But despite the non-stop anti-Trump barrage, he won.
His surprise victory was followed by another flood of predictions. The sore losers among the Democrats then released their predictions for Trumpian calamity. It’s true, the Trump presidency has been anything but calm. At times it has been tumultuous and nerve-wracking. But there is no doubt President Trump is shaking up the establishment. For better or worse, things will never be like they were.
Can we assess his performance? Sure. Let’s start with something that was not among his campaign promises – the soaring stock market. [Read more]
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