Industry News page 2

Big Investors not shying away from Oil & Gas - Oct 14th, 19
An interesting article in the Guardian today for anyone interested in investing in Oil & Gas Exploration and Production. Not all of the big banks are shying away from the Industry under pressure from shareholders and investors. Of late; it would seem the big banks were all getting out of "Dirty" energy and chasing clean renewables.. but that isn't necessarily accurate.

Some big names in finance are pumping a lot of money into expanding the fossil fuel Industry. If you were looking to invest in current and future Oil & Gas projects and were under the impression it was not a good long-term investment, well they obviously disagree. These companies are investing heavily in fracking, coal mining, pipelines and Arctic Oil & Gas according to the article by Patrick Greenfield.

The article indicates that fracking projects in the Permian Basin are the focus of major financing, a top producing formation in the Oil & Gas Industry it is still attracting investor attention eager to tap into yet undiscovered reserves. Arctic Oil & Gas projects are also seeing an increase in financing, although not on the same scale as other fossil fuel sectors.



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West Virginia readies for Petrochemical Industry jobs boost - Oct 14th, 19
I love to share news from some of the Independent editorials, and I ran across an article by Charles Young in the WV News. What a great article, finally some positive upbeat Industry news. It may just seem this way, but this past week or so it has been very doom and gloomy. Missiles, attacks, fires, trade talks.... anti this and anti that.

West Virginia has big plans for Natural Gas and the Petrochemical Industry, already putting in place a task force ("Downstream Jobs Task Force") to help develop sites for manufacturing and attract investors to the area.

This is a quote worthy of a smile

"“The industry, which would utilize the state’s abundant oil and gas reserves to create a wide variety of commercial and industrial products and components, is expected to create more than 100,000 jobs and bring in billions to the state’s economy, according to Gov. Jim Justice.”"

Way to go West Virginia, but now I need to go find out how an "Ethane cracker" works...



READ MORE of the article by Charles Young by clicking on the link above.

California Governor signs new bill limiting development - Oct 14th, 19
According to a new article in the LA Times, Governor Gavin Newsom signed a new bill this weekend; introduced by Assemblyman Al Muratsuchi, this bill counters the recent Trump administration plans to increase oil and gas production in areas of California.
Additionally a new law renaming the California Agency that regulates the Industry was also signed, this includes new mission statements which cover "protecting public health" and "environmental quality" .


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Los Angeles Blaze Threatens Gas Field - Oct 12th, 19
A Los Angeles wildfire forced the evacuation of 25,000 homes and is threatening a natural gas storage facility that four years ago sprung the biggest gas leak in U.S. history.

(Bloomberg) -- A wind-driven wildfire on the northern edge of Los Angeles forced the evacuation of 25,000 homes and is threatening a natural gas-storage facility that four years ago sprung the biggest gas leak in U.S. history.


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Oil & Gas and solar energy - Oct 11th, 19
Occidental Petroleum apparently don't need tax incentives from the recently dead SB 518 bill to see the benefits of solar energy, they are all set to run a solar powered extraction project in the Permian Basin. Adrian Hedden recently published this article about the Indian River Solar facility. It's an interesting concept and I for one am looking forward to seeing how this project plays out.

It's a interesting partnership, renewable energy and traditional Oil & Gas working hand in hand in the Permian Basin. It's just a shame that the Bill failed to pass. The tax credit would have benefited both homes and business's and replaced the previous credit that expired a few years earlier.



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