Louisiana Oil & Gas Association: Administration determined to fade out oil, gas industry
Well our new guy(s) up in Washington are woking hard to do the domestic Oil and Gas Industry in. Be sure to read the whole article.
"U.S. Rep. Henry Waxman, D-Calif., is pushing legislation to stop hydraulic fracturing of natural gas wells, which would stop the exploration and development of natural gas plays such as the Haynesville Shale and others."
The column can be found here:
http://www.theadvertiser.com/apps/pbcs.dll/article?AID=/20090510025...
David
"U.S. Rep. Henry Waxman, D-Calif., is pushing legislation to stop hydraulic fracturing of natural gas wells, which would stop the exploration and development of natural gas plays such as the Haynesville Shale and others."
The column can be found here:
http://www.theadvertiser.com/apps/pbcs.dll/article?AID=/20090510025...
David
Views: 28
Replies to This Discussion
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Permalink Reply by ALongview on -
Regulation is what they are asking for if I understand the push for legislation correctly. That doesn't mean that they would outlaw hydraulic fracturing. Nobody really knows what this regulation would look like even it it did come about.
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Permalink Reply by Coolmeanz on
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I think its more like, Government vs. Oil and Gas Companies. Put them out in the street and let them duke it out. The only ones it will hurt is the Small Companies and Royalty Owner.
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I agree gingles with "BIG BOYS". What about the smaller O&G companies, companies that supply them, and smaller royalty owner, they are the one that will loose the most. The BIG BOYs can afford to handle this "down turn" and do without the tax credits.
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More like they did fine when oil and gas prices were high. Small companies have struggled in the business. The price volatility will push more of the small mom and pops out. I have already seen plenty of bancruptcy filings in the last six months from these folks. If the oil companies duke it out, the Exxons, Shells, Bp of the world will be the ones left standing. How many of those are concentrating on production in the US? The mentality of our new regime will only prop up the companies which are making the huge profits. Most people don't realize that half of the oil production in the US comes from stripper wells making less that 10 barrels a day. These were sold off long ago by the majors.
This undustry is in a world of hurt. The combination of a credit squeeze (this is real, and not only affecting Chesapeake), new changes in regulation/tax benefits, and price volatility will lead us to extremes in energy prices. Allbeit for just a short time as crashes will soon follow. The next 10-15 years will be interesting times indeed.
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Lets see, Waxman= U.S. Rep., D-Calif., his state doesn't need hydraulic fracturing the land around there does it by itself; J/K...
Anyhoo, I would like to see the hidden and manipulated data. I do not like seeing O&G's Co. destroying the surrounding natural resourses. I just hope we can find happy medium on the issue of extraction with minamal impact.
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