A new study says that emissions from farms outweigh all other human sources of fine-particulate air pollution in much of the United States, Europe, Russia and China. The culprit: fumes from nitrogen-rich fertilizers and animal waste that combine in the air with industrial emissions to form solid particles — a huge source of disease and death. The good news: if …
Arthur Berman – The Biggest Red Herring In U.S. Shale
A red herring is something that takes attention away from a more important subject. Rig productivity and drilling efficiency distract from the truth that tight oil producers are losing money at low oil prices. Pad drilling allows many wells to be drilled from the same location by a single rig. Rig productivity reflects the increased volume of oil and gas …
Howard Kunstler -“There Is A Special Species Of Idiot At Large In The Financial Markets”
There is a special species of idiot at large in the financial media space who believe absolutely in the desperate and tragic public relations bullshit that this society churns out to convince itself that the techno-industrial high life can continue indefinitely, despite the mandates of reality – in particular, the fairy tales about oil: we’re cruising to energy independence… the …
The Dark Side Of The Shale Bust By Nick Cunningham
The fallout of the collapse in oil prices has a lot of side effects apart from the decline of rig counts and oil flows. Oil production in North Dakota has exploded over the last five years, from negligible levels before 2010 to well over a million barrels per day, making North Dakota the second largest oil producing state in the country. But …
Oil Market Uncertain As US Shale Boom “Goes Bust”
Oil market is uncertain as the US shale oil output is expected to fall for the first time in four years, and the coming months are likely to see a continuing price war between OPEC producers. Deutsche Bank, Goldman Sachs and HIS are now projecting that US oil production growth will now end. The global oil price rose slightly in …
Bakken Shale Oil Well Output Drops To Lowest Since 2009 – Tyler Durden
In addition to the EIA’s amusing oil price forecast, which as noted previously leaves quite a bit to be desired considering it was a year ago that the EIA completely failed to anticipate the plunge in crude prices, which have collapsed far below its worst case estimate… … there is another more substantial problem with the EIA predicting a consistent increase in …
Fracking Town’s Desperate Laid-off Workers: ‘They Don’t Tell You It’s All a Lie’
From the looks of it, the nation’s boomtown is still booming. Big rigs, cement mixers and oil tankers still clog streets built for lighter loads. The air still smells like diesel fuel and looks like a dust bowl— all that traffic — and natural gas flares, wasted byproducts of the oil wells, still glare out at the night sky like …
The Demolition of Workers’ Comp
Over the past decade, states have slashed workers’ compensation benefits, denying injured workers help when they need it most and shifting the costs of workplace accidents to taxpayers. Michael Grabell and Howard Berkes Dennis Whedbee’s crew was rushing to prepare an oil well for pumping on the Sweet Grass Woman lease site, a speck of dusty plains rich with crude in …
Peak Meaninglessness
Last week’s discussion of externalities—costs of doing business that get dumped onto the economy, the community, or the environment, so that those doing the dumping can make a bigger profit—is, I’m glad to say, not the first time this issue has been raised recently. The long silence that closed around such things three decades ago is finally cracking; they’re being mentioned …
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