Tuesday, September 1, 2015

Louisiana School-To-Prison Pipeline Breaks, Spilling Hopeless Kids Into Swamp | THE PUSH POLE

Louisiana School-To-Prison Pipeline Breaks, Spilling Hopeless Kids Into Swamp | THE PUSH POLE: "America’s crumbling infrastructure took another hit today when the pipeline connecting Louisiana’s schools to its prison industrial complex busted, sending poor, under-educated teens sprawling into empty swampland in Avoyelles Parish."

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Monday, August 31, 2015

Oil caps biggest three-day gain since 1990 as OPEC ready to talk

Oil caps biggest three-day gain since 1990 as OPEC ready to talk: "Oil capped the biggest three-day gain in 25 years after OPEC said it’s ready to talk to other global producers to achieve ‘fair prices’ and the U.S. government reduced its crude output estimates. Crude traded in New York surged 27% in three days, the most since August 1990 when Iraq invaded Kuwait. Both West Texas Intermediate and Brent benchmarks have climbed more than 20% from their closing low on Aug. 24, meeting the common definition of a bull market. The Organization of Petroleum Exporting Countries, responsible for about 40% of the world’s supply, said in a monthly publication it’s willing to talk, “but this has to be on a level playing field.” Prices erased last week’s drop to a six-year low as the OPEC comments and signs that the U.S. shale boom is fading faster provided optimism that a global supply glut will evaporate sooner than estimated. A measure of oil-price fluctuations rose to a five-month high as traders sought protection from market swings. “The market turned around on two pieces of news,” Phil Flynn, senior market analyst for Price Futures Group Inc. in Chicago, said by phone. "The EIA cut its U.S. output estimates and OPEC says its ready to talk to others about cutting output.""

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Friday, August 28, 2015

Man Forced To Throw Back Bull Red That Self-Identifies As 11-Inch Speckled Trout. | THE PUSH POLE

Man Forced To Throw Back Bull Red That Self-Identifies As 11-Inch Speckled Trout. | THE PUSH POLE: "Unfortunately for Galliano angler Willie Bergeron, the mammoth fish he hauled in yesterday morning was actually a delicate 11-inch spec trapped inside the body of a 31-inch bull red. Stephanie Bergeron, his very intelligent and sunburned daughter, broke the news to him after netting the leviathan. It was their tenth redfish of the day, setting them at their limit. After pretending to hold a telepathic conversation with the gasping, flopping beast, she broke the news to her father, informing him that they have to release the fish or the game wardens would throw him into a FEMA camp for a hate crime."

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Monday, August 24, 2015

Flying robots replace oil roughnecks

Flying robots replace oil roughnecks: "Oil rig inspection is a dangerous business. Traditionally roughnecks dangled from a wire, in gale-force winds if needed, to manually log wear and tear on the girders. Assessments include giant chimneys—called flare stacks—that belch fire during million-dollar-a-day shut-downs. Increasingly, the industry has found that swapping abseiling humans for small drones equipped with high-definition and thermal cameras can save time, cut costs and improve safety. "These are large metal structures in a big pond of sea water. They will rust a lot, particularly in the North Sea where rigs designed to last 20 years are lasting more than 40. They are continually getting cracks and physical damage from the waves and need to be refurbished and fixed," explains Chris Blackford, Sky Futures' COO."

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Flying robots replace oil roughnecks

Flying robots replace oil roughnecks: "Oil rig inspection is a dangerous business. Traditionally roughnecks dangled from a wire, in gale-force winds if needed, to manually log wear and tear on the girders. Assessments include giant chimneys—called flare stacks—that belch fire during million-dollar-a-day shut-downs. Increasingly, the industry has found that swapping abseiling humans for small drones equipped with high-definition and thermal cameras can save time, cut costs and improve safety. "These are large metal structures in a big pond of sea water. They will rust a lot, particularly in the North Sea where rigs designed to last 20 years are lasting more than 40. They are continually getting cracks and physical damage from the waves and need to be refurbished and fixed," explains Chris Blackford, Sky Futures' COO."

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NEWS  |  Oil Tumbles Up To 6% To New Lows As China Fears Intensify Rout  |  Rigzone

NEWS  |  Oil Tumbles Up To 6% To New Lows As China Fears Intensify Rout  |  Rigzone: "Oil's weeks-long slump accelerated sharply on Monday with prices tumbling as much as 6 percent to fresh 6-1/2-year lows as a renewed dive in the Chinese equities market sent global financial markets into a tailspin. A near 9-percent fall in China shares roiled global markets and sent the Dow Jones Industrial Average down more than 1,000 points in early trading. Wall Street pared losses by mid-morning, briefly easing oil's slide, but a second wave of selling re-emerged in the afternoon. Oil's biggest one-day drop in nearly two months suggested that worst-case fears over the economic outlook in China, the world's second-largest oil consumer, have eclipsed immediate signs of persistent oversupply as the main motivator. "Today's falls are not about oil market fundamentals. It's all about China," Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt, told the Reuters Global Oil Forum. "The fear is of a hard landing and that things get out of the control of the Chinese authorities." Brent October crude fell $2.77, or 6.1 percent, to settle at $42.69 a barrel, after plunging to a contract low of $42.51, the lowest front-month price since March 2009. Prices extended losses in after-hours trading, as the U.S. S&P Index fell by more than 4 percent at one point."

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Oil-stock plunge erases $17 billion as Exxon hits 5-year low

Oil-stock plunge erases $17 billion as Exxon hits 5-year low: "Oil and gas producers dropped to their lowest level in almost four years as collapsing markets in China heightened concern that demand will falter, aggravating a glut. An index of 40 energy explorers, refiners and drillers lost $17 billion in value, declining 2.1% at 12:49 p.m. in New York trading. The group earlier tumbled as much as 5.5% to the lowest since October 2011. The slide extended Exxon Mobil Corp.’s year-to-date decline to 24%, putting the world’s biggest oil producer by market value on track for the poorest annual performance since at least 1981. Stocks around the world plunged as a rout that began with the Aug. 11 devaluation of China’s yuan rippled through European and U.S. markets. Commodities fell to a 16-year low, Treasury yields dipped and U.S. crude fell below $38/bbl for the first time since February 2009. “It’s a bloodbath,” said Mark Hanson, an analyst who follows U.S. crude explorers at Morningstar Inc. in Chicago. “We’re at an intersection of a lot of bad news.”"

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NEWS  |  DW: Saudi Arabia Hit by Low Oil Prices, Faces Difficult Decisions  |  Rigzone

NEWS  |  DW: Saudi Arabia Hit by Low Oil Prices, Faces Difficult Decisions  |  Rigzone: "Douglas-Westwood, an energy business strategy, research and commercial due diligence services provider, commented in its latest edition of DW Monday that low global crude prices have hit Saudi Arabia hard. With a considerable budget deficit, Saudi has been forced to begin borrowing from capital markets – $4 billion in July. The kingdom is highly reliant on oil – accounting for more than 90 percent of budget revenues. Cuts have not been made to capital expenditure and Saudi has engaged in an expensive conflict within Yemen. Consequently, the decision to ride out lower prices has put a huge strain on finances – the IMF (International Monetary Fund) estimates $50 oil will lead to a deficit of ~$140 billion (20 percent of GDP) this year. Plugging holes in the budget with bond issues is the clearest sign yet that the kingdom is feeling the pinch, the question is, how long can it continue?"

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Monday, August 3, 2015

WellAware launches Chemical Management Solutions to reduce oilfield operating costs and optimize production

WellAware launches Chemical Management Solutions to reduce oilfield operating costs and optimize production: "WellAware has launched the WellAware Chemical Management and WellAware Chemical Optimization products. Designed for E&P and chemical service companies, the new products reduce operating costs, minimize pump and well downtime, and optimize production. Matt Harrison, CEO for WellAware, said, "Our customers asked us to help them more effectively manage their production chemical programs. It's a huge opportunity -- both to increase production and significantly reduce operating costs, as production chemicals are typically one of the three highest expenditures for an operator. WellAware's Chemical Management and Chemical Optimization solutions streamline chemical management processes so that operators and chemical service companies can spend less and implement more effective programs." Traditionally, monitoring of chemical tanks and pumps has been a completely manual process. Technicians drive to each well site to check the status of the treatment and frequently find issues including low tank levels, leaks, inoperable pumps, and over/under target injection rates. These issues result in not only high labor, transportation, and chemical costs, but also significantly impact downtime and production levels. "For example, low injection of paraffin inhibitors or H2S scavengers can increase required well remediation treatments and well shut-ins, preventing operators from hitting their production targets," added Harrison. "WellAware helps address these challenges by providing reliable data collection, exception-based monitoring and control, and actionable analytics. Chemical tank level and pump operating data is collected via remote telemetry using our heterogeneous communications network, which supports multiple wireless standards to ensure availability in all regions. This unique data visibility allows operators to monitor chemical equipment and inventory as well as receive alarms when issues arise, such as low tank levels, system leaks, insufficient pump voltage, and insufficient injection rates," said Harrison."

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Anadarko finds gas in ultra-deep waters offshore Colombia

Anadarko finds gas in ultra-deep waters offshore Colombia: "Anadarko Petroleum's Kronos-1 well has proved the presence of hydrocarbons in the ultra-deep waters of the Colombian south Caribbean area, Ecopetrol, a partner in the well, said. This discovery proves the geological model proposed for an unexplored area with high hydrocarbon potential, the Bogotá, Colombia-based company said Tuesday. Kronos-1 is located in Fuerte Sur Block, 53 km offshore Colombia, where Anadarko, the operator, and Ecopetrol each hold a 50% interest. According to operator's quarterly operations report, after drilling at a water depth of 1,584 m, the well reached a total depth of 3,720 m and encountered a net pay thickness between 40 m and 70 m of gas bearing sandstones."

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Saturday, August 1, 2015

Child Dies Holding Breath To Avoid Raceland Sugar Mill Stench | THE PUSH POLE

Child Dies Holding Breath To Avoid Raceland Sugar Mill Stench | THE PUSH POLE: "According to multiple sources at Thibodaux’s Peltier Park,  “a kid totally died” while holding his breath in an attempt to avoid sniffing the mountain of bagasse located just off of Highway 182. A dozen caffeinated nine-year-olds told The Push Pole about a child who ran out of air and died in the backseat of his parent’s SUV as they traveled to New Orleans. When pressed for details, the animated group of kids gave conflicting reports. Some said his name was Jayden. Others said it was Conner. Some said his death happened last month; others were sure it happened years ago, before Frozen even came out."

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Wednesday, July 29, 2015

Jindal defends his low popularity rating in Louisiana - FOX 8 WVUE New Orleans News, Weather, Sports, Social

He is a true politician! Telling bald-faced lies!

Jindal defends his low popularity rating in Louisiana - FOX 8 WVUE New Orleans News, Weather, Sports, Social: "Gov. Bobby Jindal took his run for the White House to mainstream media Wednesday morning. Jindal stopped by CBS This Morning, where Gayle King pressed him about how he plans to win votes on a national level, when his approval rating at home is at an all-time low of 32 percent. "If folks are looking for a popular politician, you can govern by the polls," Jindal said. "You kiss babies, cut ribbons, don't do anything. That's not what our country needs. We're in serious trouble right now. We've got to shrink our federal government, grow our private sector economy. I've done that in Louisiana. I can do that in DC.""

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Monday, July 27, 2015

Technology Is Magic, Just Ask The Washington Post | TechCrunch

Plus points to Jon Evans for using the word "Stentorian" in a sentence!

Technology Is Magic, Just Ask The Washington Post | TechCrunch: "Most people don’t understand how technology works. When they flip a light switch, or tap their phone, what happens next is essentially magic to them. Oh, they may be able to handwave a bit about electrons and volts and microprocessors and radio waves and packet-switched networks, but they’re just mouthing the words. They don’t actually understand any of those things. They’ve never done the math. Which is fine! Not everyone can or should be an engineer. And as Arthur C. Clarke once said, “Any sufficiently advanced technology is indistinguishable from magic.” Our collective network of pocket supercomputers, communicating almost instantaneously across the globe, comes pretty close to “sufficiently advanced” on its good days. But “technology is magic” is a dangerous meme. It makes non-engineers begin to believe that technology really can do anything its wizard-engineers desire. It causes them to not understand that they don’t understand. And so it leads to Very Serious People making risibly embarrassing–and potentially dangerous–mistakes. Last week the editorial board of the Washington Post reiterated their demand that Apple, Google, etc., compromise the security of their users’ communications by building in back doors for law enforcement. This is a terrible, terrible idea, as I’ve mentioned before. But hey, don’t listen to me: listen to Whitfield Diffie, Ron Rivest, Bruce Schneier, and a whole Justice League of infosec legends, who write: We have found that the damage that could be caused by law enforcement exceptional access requirements would be even greater today than it would have been 20 years ago […] Exceptional access would force Internet system developers to reverse forward secrecy design practices that seek to minimize the impact on user privacy when systems are breached […] new law enforcement requirements are likely to introduce unanticipated, hard to detect security flaws [and] raises difficult problems about how such an environment would be governed and how to ensure that such systems would respect human rights and the rule of law. As Elissa Shevinsky writes in the Christian Science Monitor: “Law enforcement’s argument today is just as flawed now as it was in the 1990s. We cannot bend software or cryptography to our will. Technology is science, not magic.” Worst of all, any attempt to enforce this kind of magical thinking will still not prevent genuine bad guys from using strong encryption without back doors. That genie is long out of the bottle, widely available, and open-source. We’d get all of the multitudinous problems associated with built-in back doors, and few-to-none of the alleged benefits. So how did the Very Serious People of the Washington Post editorial board respond to this chorus of “no, bad, terrible, stupid, stop it!” from people who actually know what they’re talking about? Why, by doubling down on their ignorance— There are legitimate and valid counter arguments from software engineers, privacy advocates and companies that make the smartphones and software […] They say that a compromise isn’t possible, since one crack in encryption — even if for a good actor, like the police — is still a crack that could be exploited by a bad actor […] We urged Apple and Google, paragons of innovation, to create a kind of secure golden key that could unlock encrypted devices, under a court order, when needed. The tech sector does not seem so inclined. With all due respect to the WaPo’s editorial board–which is to say, very little–that is breathtakingly dumb. They acknowledge that engineers say that it is not possible to do the thing that they want, and that their arguments are “legitimate and valid” — and then, in the very next breath, they try to reframe that as ‘the engineers refuse to do it.’ It does not even seem to cross their collective mind that they simply cannot have what they want, that no “secure golden key” can or will exist. Engineering is all about tradeoffs. Security, or “golden key” back door: pick one. You can’t have both. That bird won’t fly. It is mythical nonsense."

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VIDEO: Anderson Cooper Gets Trumped, And What Scott Walker Could Learn From It | The Hayride

VIDEO: Anderson Cooper Gets Trumped, And What Scott Walker Could Learn From It | The Hayride: "Over the weekend Walker, whose stance on immigration has evolved quite a bit but now seems to have settled on a relatively hard line not just on illegals and controlling the border but on looking at placing tighter limits on legal immigration until the massive backlog of Americans who can’t find work gets cleared, was accosted in Iowa by the open-borders crowd in the person of an illegal immigrant from Wisconsin who accused him of trying to break up his family… Walker didn’t do a bad job handling a hostile situation from a bunch of obnoxious peope attempting to ambush him. In fact, he was fairly presidential in how he handled the interview – he was firm but polite and he stayed on message throughout the encounter. He also shut down the activists who had sponsored the illegals to accost him by refusing to discuss anything with them; as it turns out they actually drove the family to Iowa in a bus from Waukesha, which tells you all you need to know about how organic this confrontation was. But outside of the political junkies and news media, you didn’t see more than a blip out of this affair – because while Walker handled it exactly as a professional politician would be expected to, there was no news in it. He could have turned that into a perfect, defining moment and solidified his street cred with the conservative base – something he’ll need to do, because unlike Trump Walker has a real shot at being president in January 2017. What Walker could have done is to – before allowing his harasser to say a word in response to his position statement – demand to know how it is the man has his job. “Did they hire you off the books? Or do you have a Social Security number?” And when the expected answer came, next up would be “So you’re using somebody else’s Social Security number. That’s identity theft, you know, and it’s a crime.” Walker could then say “Look, I don’t bear you any ill will, and in your situation I can’t say I would have done much different from what you’ve done. All right? And I’m not somebody you should have any special fear of. But you’re here illegally, and you’re using somebody else’s Social Security number so you can take a job from one of the 93 million American citizens who aren’t in the work force, which as far as I’m concerned is the biggest problem this country has and you’re not part of the solution to it. “So I don’t know what it is you think I’m going to do for you. You want amnesty? OK, great. It’s pretty clear Congress isn’t interested in giving you that. You want Obama to do something he can’t legally do and give you amnesty? Well, that’s piling illegality on top of illegality, and at some point everybody decides they want to play. They’ll decide that not paying taxes works better for them, or moving into some vacant house and not paying for it. Or dumping industrial waste in the river. And then we have chaos. “If we’re going to do anything for you – give you a permit to live and work here, or a path to citizenship or something – then we’re going to need to have an economy that booms to such an extent that we come to you and say ‘what can we do for you?’ because we have a labor shortage and we need more Americans. Until then? Frankly, you really can’t complain about your situation and you definitely can’t make demands to be given better treatment than the citizens of this country who aren’t getting served all that well.” Most people haven’t really thought about the illegal immigration question in quite the terms Walker had it presented to him in Iowa over the weekend – namely, that he’s being accosted by illegal aliens who are making demands of him and making him out to be a bad guy because he’s not willing to change the law to give them something they didn’t earn. The ingratitude and, frankly, greed of that really ought to rankle."

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Halliburton said facing antitrust hurdles over Baker Hughes acquisition

Halliburton said facing antitrust hurdles over Baker Hughes acquisition: "Halliburton Co.’s takeover of Baker Hughes Inc. is facing resistance from U.S. enforcement officials who are concerned the tie-up could hurt competition, according to a person familiar with the matter. Justice Department lawyers reviewing the proposed $34.6-billion transaction are worried that the oilfield services industry would become too concentrated after a combination of its No. 2 and No. 3 firms, said the person, who asked not to be identified because the review is confidential. Though Halliburton has proposed selling some assets to other companies, government officials aren’t convinced its plan would restore sufficient competition, the person said. Although a final decision hasn’t been made yet, the department’s antitrust division is positioned to carry out a legal challenge if it decides to try to halt the deal, which the companies aim to complete by December. The unit has assigned John Read, a seasoned litigator, to oversee the Halliburton review, according to two people familiar with the staffing decision. Among his successes, Read helped win the division’s antitrust lawsuit against American Express Co. over its merchant rules for credit cards. Antitrust lawyers describe him as a formidable opponent who could bring a merger case to trial."

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NEWS  |  Offshore Driller Hercules Says Weeks From Bankruptcy  |  Rigzone

NEWS  |  Offshore Driller Hercules Says Weeks From Bankruptcy  |  Rigzone: "Hercules Offshore Inc, stung by slumping demand for drilling services in older Gulf of Mexico oilfields, said on Thursday it plans to file for creditor protection in about three weeks and emerge several months later with a restructured balance sheet. The small company, which rents out jackup rigs to drill shallow water wells that tend to yield less than giant deepwater ones, has been struggling for months because of an oversupplied rig market and slumping oil prices that have forced producers to slash spending. In November it cut 15 percent of its workforce, or 324 jobs, and last month started talks with creditors for an orderly bankruptcy filing. Hercules said on Thursday it has support for the filing from holders of over two thirds of its collective outstanding debt. It added that the prepackaged process will reduce the time it spends in bankruptcy protection, which it hopes to leave early in the fourth quarter."

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NEWS  |  Trials Underway for Wireless Mesh Communications Device  |  Rigzone

NEWS  |  Trials Underway for Wireless Mesh Communications Device  |  Rigzone: "Trials are underway for a new communications device just released for use with scalable, kinetic wireless mesh technology. Rajant Corporation – which Rigzone reported on earlier this year – this week launched the CacheCrumb node, a wireless transceiver with built-in processing power that allows applications to be pushed to a edge of a network for quicker access, the company said in a July 22 press statement. The new CacheCrumb is similar to Rajant’s ME4 line, but has an applications processor tuned for distributed video, sensors, algorithms and up to a terabyte of storage. CacheCrumb’s extra processing power and solid state memory means it can perform edge-processing, allowing video and other data to be stored, ‘groomed’ and consumed directly from the device. Rather than adding multiple separate boxes and creating a much bigger footprint, CacheCrumb provides capabilities for that can support different applications through an integrated device, said Paul Hellhake, Rajant’s chief technology officer, in an interview with Rigzone. CacheCrumb meets the demand for video that is growing not only in oil and gas, but other industries as well as companies want security and the ability to monitor equipment if case of failure. The device can store up to 30 days of video, meaning video can be accessed without having to send it across network resources until it’s needed. Video can be streamed immediately, meaning they don’t have to be collected and reviewed later, Hellhake noted. Sensor data also can be stored on CacheCrumb, meaning bandwidth isn’t chewed up by data being sent to a central database. Rajant is working with one oil and gas client to help them address their needs, which include the ability to gather, storage and analyze data locally, Hellhake said. Third party devices can be hooked with other breadcrumbs to provide the benefits of CacheCrumb, but would require additional power sources, such as a laptop hooked up on location to add processing capability. But hard drives tend to fail in outdoor environments, Hellhake noted."

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After deadly blast, 2.7 MMbbl of Pemex oil go missing

After deadly blast, 2.7 MMbbl of Pemex oil go missing: "Petroleos Mexicanos seems to have misplaced 2.7 MMbbl of oil. Since a deadly blast on April 1 tore through one of its offshore platforms, the state oil giant has baffled industry analysts with its assessment of the damage. Pemex has said the disaster, its deadliest this year, affected about 1.5 MMbbl of production. But Energy Ministry reports show the actual figure is nearly three times higher: 4.2 MMbbl in lost output since April 1. The disparity raises questions about how Mexico’s lone oil operator does -- or doesn’t -- keep investors in the loop about its sprawling business. It comes as Pemex tries to lure $33 billion in joint-venture investments to bolster sagging output -- all the more important after Mexico recently failed to attract enough buyers for offshore fields it wants to develop. Pemex is “failing to understand that in this world of transparency, you have to be careful what you say,” said Luis Maizel at LM Capital Group, who manages $5.5 billion of fixed- income assets, including Pemex bonds. “People don’t forget.” Conflicting Statements Pemex has given conflicting statements about how much output was cut. In an emailed response to questions on July 8, Pemex reiterated its 1.5 MMbbl estimate. In a follow-up email on July 10, the company said Bloomberg’s 4.2 MMbbl calculation was also “in the order of Pemex’s estimates” and didn’t provide details to explain the difference when asked in additional messages. At the heart of the confusion appears to be what, exactly, Pemex means by lost output. The production isn’t “lost,” Pemex says, just “deferred.” “It seems like Pemex is using a word game to avoid calling production lost,” said George Baker, an oil analyst and publisher of Mexico Energy Intelligence. “If production is being deferred after an accident, then that means the infrastructure isn’t in place or in good enough condition to pump the oil, so wouldn’t that be the same thing as lost production?” It’s not the first time Pemex’s output figures raise such questions. In addition to missing its own annual targets in each of the past seven years, Bloomberg News in August reported Pemex was including water in its barrel count. A week later, the company acknowledged the mistake and cut production estimates for 2014’s first half by a total of 23.5 MMbbl."

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Tuesday, July 21, 2015

Leeville commission's first meeting includes member's resignation | HoumaToday.com

Leeville commission's first meeting includes member's resignation | HoumaToday.com: "A commission created to support Leeville got off to a rocky start Tuesday with the resignation of one of its founding members. The Leeville Fishing Village and Cultural Preservation Commission met for the first time since being approved by the Legislature in 2013. The commission was created to give local residents a direct hand in promoting tourism and overseeing historic conservation efforts while being able to apply for money directly from the state. After electing Don Griffin as chairman of the commission, Bob Gourgues as vice chairman and Janet Rhodus as secretary, the meeting took a personal turn. After Gourgues and members of the public criticized Rhodus and questioned her motives in Leeville, she resigned from the commission and suggested Harris Cheramie take her place."

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Saturday, July 18, 2015

Belle Chasse Hires Mexican Drug Cartel To Build New Tunnel | THE PUSH POLE

Belle Chasse Hires Mexican Drug Cartel To Build New Tunnel | THE PUSH POLE: "The tunnel is located on a state highway, so you can imagine the bureaucratic red tape involved. The amount of people whose palms need greasing to make this happen is unreal. By the time everyone takes their cut, there’s not much money left for actual construction, so we’d be left with a shoddy, crumbling tunnel…kind of like the one we have now. The corruption and danger involved in local politics is terrifying; we figured we’d be better off dealing with a Mexican drug cartel. They’ve shown they can build a safer, stronger tunnel in half the time for a fraction of the price."

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Tuesday, July 14, 2015

Scott Walker IS Keyser Söze in 2016 US Presidential Election!

I am not necessarily a Scott Walker fan, but this is some funny stuff!

Who is Scott Walker? He is supposed to be from Wauwatosa. Some say his father was a Baptist. Nobody believed he was for real. That was his power.

One story the guys told me, the story I believe, was from his days in Madison. There was a gang of labor thugs that wanted their own union. They realized that to be in power, you didn’t need guns or money or even numbers. You just needed the will to do what the other guy wouldn’t. After a while, they come into power and then they come after Walker. He was small-time then, just running numbers, they say.

The union thugs knew Walker was tough, not to be trifled with, so they let him know they meant business. Then he showed these men of will what will really was. After dissolving the union, he lets the last member go. He waits until the recall is over and then he goes after the rest of the mob.

He fires their kids, he fires their wives, he fires their parents and their parents’ friends. He forecloses the houses they live in and the offices they work in, he fires people that owe them money. And like that he was gone. Underground. Nobody has ever seen him since. He becomes a myth, a spook story that Democrats tell their kids at night. “Rat on your shop steward, and Scott Walker will get you.”

Scott Walker: The Left's Keyser Söze https://ricochet.com/scott-walker-the-lefts-keyser-soze/

Thursday, July 9, 2015

BP’s spill deal is ‘catalyst’ for acquirers as uncertainty ends

BP’s spill deal is ‘catalyst’ for acquirers as uncertainty ends: "BP’s $18.7 billion U.S. legal settlement is being cheered by investors and analysts as it ends five years of financial uncertainty. It also makes the British oil producer a more attractive takeover target. Potential buyers, held back by unquantifiable liabilities related to the company’s 2010 Gulf of Mexico spill, may find a slimmed-down BP more appealing and digestible. “The market is looking at that,” said Ahmed Ben Salem, a Paris-based analyst with Oddo & Cie., who has a neutral recommendation on BP. “This could act as the catalyst because there’s more clarity now.” The five years of battling the consequences of the worst oil spill in U.S. history has seen BP shed a third of its market value and assets, cutting production by about 1 MMbopd. It could take CEO Bob Dudley years to restore the company’s pre-spill financial performance, giving potential acquirers a window of opportunity. BP climbed as much as 1.8% in London trading after advancing 4.4% on Thursday, when the company reached an agreement to pay a record amount to settle all federal and state claims from the oil spill that spewed thousands of barrels of crude into the Gulf of Mexico and along the coasts of five states. The settlement forced BP to raise it’s total payout budget to $53.8 billion. Even that may not be enough. Defenses Strengthened The settlement didn’t cover some businesses and residents in large swaths of Texas and Florida, who still demand billions. It also didn’t include shareholders or investors blaming BP for the U.S. administration’s moratorium on deepwater drilling in the Gulf after the spill. Still, BP’s biggest threats are now gone. The company stepped up its defenses against an opportunistic takeover earlier this year, and war-gamed strategies with advisers from firms including Morgan Stanley, according to people familiar with the situation. A buyer will also have to convince the U.K. government, which told BP in the wake of Shell’s acquisition of BG Group that it would oppose the acquisition of the oil producer by a foreign company. A BP spokesman declined to comment on the company being a likely acquisition target after the U.S, legal settlement. A slimmed down BP is also an attraction for potential buyers because it has the lowest enterprise value relative to its daily oil and gas production of any of the six largest U.S. and European energy producers. Based on the current share price, the ratio is less than half that of Exxon Mobil Corp."

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NEWS  |  Kemp: Data Availability Bias in the Oil Market  |  Rigzone

NEWS  |  Kemp: Data Availability Bias in the Oil Market  |  Rigzone: "Why is there such good data about oil in the United States but such poor data about everywhere else? Accurate information is essential for good decision-making, so it is remarkable how little reliable and timely data exists about the production and consumption of crude oil and refined fuels outside the United States. The situation in the other advanced economies, not to mention emerging markets, is mostly guesswork. The result is that oil analysts cannot even agree on production and consumption yesterday and today, let alone predict what will happen tomorrow. And because the best and most readily accessible data is for the United States, the market puts excessive emphasis on what happens there and neglects developments elsewhere. The obsession with weekly rig counts, production estimates and crude inventories in the United States as a sign of wider supply-demand trends in the oil market has been a case in point. But as long as U.S. data is more accurate, detailed and timely than the numbers for other countries, this example of "availability bias" is set to continue. Energy Crisis Some U.S. data comes from private companies such as Baker Hughes, which inherited the decades-old rig count from the Hughes Tool Company, but most is produced by the federal government. The U.S. Energy Information Administration, the independent statistical and analysis arm of the Department of Energy, provides by far the best data on oil and other energy markets anywhere in the world."

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