All Discussions Tagged 'EnergySecurity' - GoMarcellusShale.com2024-03-28T14:47:22Zhttps://gomarcellusshale.com/forum/topic/listForTag?tag=EnergySecurity&feed=yes&xn_auth=noAnalysis: Things are flat in the Permian, and there's a push for renewables in Santa Fe by Dr. Daniel Finetag:gomarcellusshale.com,2019-02-01:2274639:Topic:7925682019-02-01T15:11:22.893ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
<p>The full article is here-> <a href="https://www.daily-times.com/story/money/industries/oil-gas/2019/01/27/analysis-things-flat-permian-governor-wants-renewables/2595583002/" rel="noopener" target="_blank">https://www.daily-times.com/story/money/industries/oil-gas/2019/01/27/analysis-things-flat-permian-governor-wants-renewables/2595583002/</a></p>
<p>"The Permian-Delaware Basin rig count should start falling as oil operators, large and small, are flat for 2019.…</p>
<p>The full article is here-> <a href="https://www.daily-times.com/story/money/industries/oil-gas/2019/01/27/analysis-things-flat-permian-governor-wants-renewables/2595583002/" target="_blank" rel="noopener">https://www.daily-times.com/story/money/industries/oil-gas/2019/01/27/analysis-things-flat-permian-governor-wants-renewables/2595583002/</a></p>
<p>"The Permian-Delaware Basin rig count should start falling as oil operators, large and small, are flat for 2019.</p>
<p class="speakable-p-2 p-text">Spending has been sharply reduced as supply now dominates the A.I. (Artificial Intelligence) used by many commodity traders in oil. </p>
<p class="p-text">The large or integrated oil companies have all the rigs of 2018 in place for 2019. This would make October the price peak of the latest boom or recovery in oil. Permian-Delaware Basin production would decline at least 500,000 barrels in 2019 to offset the supply glut and stabilize at $50 per barrel.</p>
<p class="p-text">OPEC members, notably Saudi Arabia, need a fiscal price of oil of $85 per barrel to pay for government and social spending. But at $60 per barrel, cash flow will not make it.</p>
<p class="p-text">Its new public relations-lobbying in the U.S will require Sovereign Wealth Fund borrowing at market rates, which will be higher mainly because of U.S Senate sanctions over the murder of a Saudi journalist writing for the Washington Post. </p>
<div class="partner-placement partner-spike ad-gray-border ad-notice ad-paramount-inline partner-placement-visible" id="ad-position-54"><div class="ad-slot" id="ad-slot-7103-nm-farmington-C1279-native-article_link-money-6"><div id="google_ads_iframe_7103/nm-farmington-C1279/native-article_link/money_0__container__">This writer forecast a 2019 $50 per barrel average price of oil when prices fell to $43.00 last month. </div>
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<p class="p-text">At the same time, many small and independent producers have break-even at $50 with high-interest debt!</p>
<p class="p-text">There are Chapter 11 bankruptcies valued at $140 billion from the Panhandle in Texas to the San Juan Basin that resulted from the OPEC -Saudi Arabian price and market share war of 2014-2016 against Southwestern small/independent shale and tight sands producers who now want reparations or damages."</p> Analysis: What's next for oil and gas prices after Putin-Trump summit? by Dr. Daniel Fine (Energy Magazine USA TODAY-Farmington Daily Time)tag:gomarcellusshale.com,2018-07-23:2274639:Topic:7830622018-07-23T03:13:58.799ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
<p class="speakable-p-1 p-text">The full article is here-> <a href="https://www.daily-times.com/story/money/industries/oil-gas/2018/07/20/oil-and-gas-prices-after-putin-trump-summit-analysis/808906002/">https://www.daily-times.com/story/money/industries/oil-gas/2018/07/20/oil-and-gas-prices-after-putin-trump-summit-analysis/808906002/</a></p>
<p class="speakable-p-1 p-text">The opposition in Congress wants to see a transcript of what President Donald Trump and Russian President Vladimir…</p>
<p class="speakable-p-1 p-text">The full article is here-> <a href="https://www.daily-times.com/story/money/industries/oil-gas/2018/07/20/oil-and-gas-prices-after-putin-trump-summit-analysis/808906002/">https://www.daily-times.com/story/money/industries/oil-gas/2018/07/20/oil-and-gas-prices-after-putin-trump-summit-analysis/808906002/</a></p>
<p class="speakable-p-1 p-text">The opposition in Congress wants to see a transcript of what President Donald Trump and Russian President Vladimir Putin talked about for two hours alone. No doubt some of that time was spent discussing OPEC and the price of oil.</p>
<p class="speakable-p-2 p-text">This is above all an issue now for the first time in world petroleum history because Russia has become part of OPEC in the agreement to manage world supply of oil and, indirectly, its price.</p>
<p class="p-text">OPEC and Russia produce almost half of the supply of world oil. At full capacity, and spare capacity added in, they would be slightly over 50 percent. For now, OPEC plus Russia is the world price-setter for oil.</p>
<p class="p-text">Shale and tight oil, mainly from the Southwest and North Dakota, along with conventional oil production in the United States, should account for 12 percent later this year if prices stabilize.</p>
<p class="p-text">This was the reality of talk between Putin and Trump.</p>
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<div class="title gallery-sidebar-title selected">Trump-Putin summit kicks off in Helsinki</div>
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<div class="gallery-viewport-meta meta"><div class="caption gallery-viewport-caption">Russian President Vladimir Putin and U.S. President Donald Trump shake hands before a meeting in Helsinki. <span class="credit gallery-viewport-credit">Brendan Smialowski, AFP/Getty Images</span></div>
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</div> Dr. Daniel Fine: No such thing as 'free trade' with OPEC as a carteltag:gomarcellusshale.com,2018-05-29:2274639:Topic:7791022018-05-29T22:32:56.606ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
<p>"</p>
<p class="speakable-p-1 p-text">Among some speakers at the 2018 Four Corners Oil and Gas Conference last month in Farmington there were evasive positions on the future of OPEC. Also, previous online or media positions of “free trade” were muted to be popular with the oil, gas and equipment operators who made up those in attendance. </p>
<p class="speakable-p-2 p-text">There is no “free trade” with OPEC as a cartel, either with assigned member production quotas or with the current…</p>
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<p class="speakable-p-1 p-text">Among some speakers at the 2018 Four Corners Oil and Gas Conference last month in Farmington there were evasive positions on the future of OPEC. Also, previous online or media positions of “free trade” were muted to be popular with the oil, gas and equipment operators who made up those in attendance. </p>
<p class="speakable-p-2 p-text">There is no “free trade” with OPEC as a cartel, either with assigned member production quotas or with the current maximization of revenue strategy led by Saudi Arabia. If you hear free traders saddling up with current higher prices and OPEC, run for cover. </p>
<p class="p-text">On Thanksgiving 2014, OPEC and Saudi Arabia refused to reduce oil production volume and entered a market share offensive against non-OPEC high cost oil producers in shale and tight sands. </p>
<p class="p-text">This was a glut, or oversupply, of world oil but it was a chance to put San Juan oil just then — with rising production in the Gallup Sand — out of business. This was only reversed through the Algiers Meeting and agreement among OPEC members by cartel anti-free trade supply and demand manipulation. </p>
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<p class="p-text">President Trump captured this with his position that something was “artificial” about the price and supply of OPEC oil. Internal changes in the ruling House of Saudi Arabia, coupled with its power over OPEC, raised the price of world oil at least temporarily within the historic cycle of the industry.</p>
<p class="p-text">Some Republicans oppose Trump and published or spoke against his opposition to OPEC. which is also connected to higher oil prices for consumers who might be voters. OPEC members had no problem with a hypocritical response to let the market work. Not only is there no free market making oil prices, but oil and gas operators do not make markets any longer. Commodity traders have replaced them since the 1980s. </p>
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<p class="p-text">Only three years ago, when OPEC/Saudi Arabia had deviated from its role of supporting the world price of oil through supply volume strategy, Harold Hamm of Continental Resources called for smashing OPEC to protect independent and non-super major producers in New Mexico, Oklahoma, Texas and North Dakota." The complete article is here-> <a href="https://www.daily-times.com/story/money/industries/oil-gas/2018/05/27/if-free-traders-saddle-up-higher-oil-prices-and-opec-run-cover/615999002/" target="_blank" rel="noopener">https://www.daily-times.com/story/money/industries/oil-gas/2018/05/27/if-free-traders-saddle-up-higher-oil-prices-and-opec-run-cover/615999002/</a></p> Watch livestream or RSVP January 16, 2018 for Energy Dominance Needs NAFTA at the Heritage Foundationtag:gomarcellusshale.com,2018-01-13:2274639:Topic:7711492018-01-13T01:26:12.005ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
<p>To watch or attend the event click on this link-> <a href="http://www.heritage.org/trade/event/energy-dominance-needs-nafta" rel="noopener" target="_blank">http://www.heritage.org/trade/event/energy-dominance-needs-nafta</a></p>
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<div class="event__subhead"><div><p>Opportunities abound for negotiating a better NAFTA. As the Trump Administration pushes for modernization, one commonsense policy area that should be preserved and improved is energy.…</p>
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<p>To watch or attend the event click on this link-> <a href="http://www.heritage.org/trade/event/energy-dominance-needs-nafta" target="_blank" rel="noopener">http://www.heritage.org/trade/event/energy-dominance-needs-nafta</a></p>
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<div class="event__subhead"><div><p>Opportunities abound for negotiating a better NAFTA. As the Trump Administration pushes for modernization, one commonsense policy area that should be preserved and improved is energy.</p>
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<div class="event__hero-wrapper"><div class="image-with-caption"><img src="http://www.heritage.org/sites/default/files/styles/commentary_header_image_375_mobile_375x196/public/images/2018-01/coal.jpg?itok=xeiSeKFT" alt=""/> After several rounds of negotiation among the United States, Canada, and Mexico, many critical issues remain unresolved.<span class="image-with-caption__photo-credit">iStock</span>
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<div class="event__wrapper"><div class="event__info-time"><p class="event__info-important">Tuesday, January 16, 2018</p>
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<div class="person-list-small__parent-wrapper"><h2 class="person-list-small__heading">Featuring</h2>
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<div class="person-list-small__panelist js-hover-container"><div class="person-list-small__name"><div><div>Aaron Padilla</div>
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<div class="person-list-small__title">Senior Advisor, International Policy, American Petroleum Institute</div>
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<div class="person-list-small__panelist js-hover-container"><div class="person-list-small__name"><div><div>Daniel Fine</div>
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<div class="person-list-small__title">Associate Director, New Mexico Center for Energy Policy</div>
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<h2 class="person-list-small__heading">Hosted by</h2>
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<h2 class="event__description-heading">Description</h2>
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<div><p class="Body">Last year, U.S. Trade Representative Robert Lighthizer notified Congress of the Trump Administration’s intent to modernize the North American Free Trade Agreement (NAFTA). After several rounds of negotiation among the United States, Canada, and Mexico, many critical issues remain unresolved.</p>
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<p class="Body">Opportunities abound for negotiating a better NAFTA. As the Trump Administration pushes for modernization, one commonsense policy area that should be preserved and improved is energy. Canada and Mexico are two of America’s most important trade partners in energy markets. The Trump Administration should build off that success. Strengthening the integration of energy markets among the three countries will unleash the massive amount of energy abundance in North America.</p>
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<p class="Body">Join us as we hear from experts on how enhancing energy trade with Canada and Mexico will result in more jobs and affordable power for American households and help achieve the Trump Administration’s goal of energy dominance.</p>
</div> Hedging threat and Venezuela Oiltag:gomarcellusshale.com,2017-08-28:2274639:Topic:7614802017-08-28T19:14:57.743ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
<p><span>The full article is here-><a href="http://www.daily-times.com/story/money/industries/oil-gas/2017/08/27/hedging-threat-and-venezuela-oil/580510001/" target="_blank">http://www.daily-times.com/story/money/industries/oil-gas/2017/08/27/hedging-threat-and-venezuela-oil/580510001/</a> </span></p>
<p class="speakable-p-1 p-text">How can Saudi Arabia and OPEC behind them strike a second blow against shale oil producers in the Southwest? The first was the 2014-2017 price and market share…</p>
<p><span>The full article is here-><a href="http://www.daily-times.com/story/money/industries/oil-gas/2017/08/27/hedging-threat-and-venezuela-oil/580510001/" target="_blank">http://www.daily-times.com/story/money/industries/oil-gas/2017/08/27/hedging-threat-and-venezuela-oil/580510001/</a> </span></p>
<p class="speakable-p-1 p-text">How can Saudi Arabia and OPEC behind them strike a second blow against shale oil producers in the Southwest? The first was the 2014-2017 price and market share war in which they raised production to put the higher cost Americans out of business. <br/>This was partially abandoned at Algiers in a reversal to opt for a higher price for crude oil from $26 to the high $40 range. The marketing tool is lowering their production by 1,800,000 barrels per day.<br/>The second blow is process. <br/>The Saudi Arabian Oil Ministry and its state company, Saudi Aramco, negotiated in London with Glencore (world’s largest trading combined with mining), banks and hedge funds to see if they could reduce the liquidity necessary for American oil and gas shale producers to hedge forward to obtain a higher price. <br/>Without access at only financial transactions costs to the “strip” or the forward price of oil at at least 10 percent higher than current prices “spot,” WPX and all the Permian-Delaware significant producers would not have survived the recent downturn in their current form.<br/>If there is no difference between the price oil today and September 2018, which is called the “contango,” this would be a problem of liquidity – no entity taking the other side against the oil and gas producer on a contract. No cash would be bet against the oil and gas producer who sells forward one year. One side, for example, sells 70 percent of 2018 oil production at June 2018 prices in the present while the other side buys or covers, as the counterpart, the contract.<br/>Saudi Arabia correctly followed data which demonstrated that despite the decline in the price of oil from $100 in 2014 to a low of $26 per barrel, oil producers hedged against the fall and largely survived. Without hedging the producers would have negative cash flows and serious problems of debt to keep going.</p>
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<p class="speakable-p-2 p-text">In the Permian-Delaware, without hedging, 60 percent of revenue in three years would have been lost to the producers and the State of New Mexico would have faced a shortfall of $4.5 billion or a fiscal collapse.<br/>It is not certain that the financial services and traders in the London discussions would go along by raising the cost of hedging to choke off liquidity. The legality of a liquidity squeeze in the U.S. with exchanges officially regulated is a roadblock to the Saudi tactic.<br/>The effort to target liquidity and thus the ability of oil and gas producers to hedge in New Mexico and in other states demonstrates that Saudi Arabia and OPEC will resume market aggression and for oil market share that subsided in the last several months to capture higher prices with lower output which would benefit the Initial Public Offering of 5 percent of Saudi Aramco shares by next year. <br/>This outcome is part of the making of the Second Downturn in 2019 in the Four Corners and the Permian-Delaware Basins.<br/>The Trump Administration is conducting a review of the situation of the Venezuelan dictatorship. It is considering an import ban on Venezuelan oil which involves substantial refining in the Gulf Coast and Citgo. <br/>Venezuelan imports were a principal part of the national energy policy in reaction to the OPEC embargo on its exports to America in 1973-74. That policy had two parts: (1) conservation, stockpiling, and alternative fuels; (2) diversity of supply away from OPEC import dependence which is now in doubt as a consequence of the shale oil horizontal drilling technology breakthrough in the Southwest and North Dakota.<br/>Venezuelan crude oil is heavy sour which called for expansion of refining investment in the Gulf and East Coast to process and substitute for Middle East lighter grades. These refiners are currently opposed an Administration rule against importing Venezuelan crude oil.<br/>They, rightly, followed Government diversity of supply policy and provided capital outlay during the last 40 years.<br/>This heavy sour Venezuelan investment in plant, however, disqualified them as major refiners of the five million additional barrels of West Texas Intermediate light sweet due to technology in shale recovery.<br/>This created a bottleneck and discount in the Midland price, which led producers in Texas and New Mexico to lobby successfully against another 1970s policy reaction to the OPEC embargo – the prohibition on exporting American crude oil.<br/>The Administration is faced with the strategic big question. Is there need for Venezuelan heavy sour today with America having the largest oil reserves in the world, as Norway has concluded? Venezuelan crude oil was a lowering of the risk of foreign oil denial or disruption. It is impossible to defend it as such today when domestic oil is produced in abundance. <br/>America is now indifferent to OPEC supply disruption. We are beginning to sell off the Strategic Petroleum Reserve, the other “insurance” policy. It, too, is not needed for that purpose.<br/>Finally, the three New Mexican oil refineries, including the 26,000 barrel capacity at Gallup, use heavy oil only for blending purposes with light, and they obtain it from Canada. <br/>Inland refiners can obtain small and limited quantities in North America for blending. They need not import or buy Venezuelan heavy sour crude. The East and Gulf Coast refiners could pursue incentives, if needed, to<br/>convert to light crude supply from the Southwest and North Dakota and end imports from Venezuela.<br/>Oil import control and suspension is supported by Harold Hamm, who led producers against the OPEC embargo policy response that denied exports of domestic crude until 2015. <br/>He advises President Trump on Oil and Gas. As head of Continental Resources, he is consistent. In 1999, He led a petition with New Mexico producers and its Washington elected officials to reduce or suspend foreign oil import.<br/>Imports of foreign oil is now a matter of case-by-case action leaving the future with respect to Saudi Arabia and OPEC open. <br/>President Trump will consider the Venezuela refugee impact on Florida along with his preference to lower foreign intervention and pursue an America First policy.</p> Iraq, UAE and Saudi Arabia take bigger slice of US crude market , EIA saystag:gomarcellusshale.com,2016-10-08:2274639:Topic:7519972016-10-08T04:32:09.375ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
<p>The complete article is here-> <a href="http://www.thenational.ae/business/energy/iraq-uae-and-saudi-arabia-take-bigger-slice-of-us-crude-market--eia-says" target="_blank">http://www.thenational.ae/business/energy/iraq-uae-and-saudi-arabia-take-bigger-slice-of-us-crude-market--eia-says</a></p>
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<p>The complete article is here-> <a href="http://www.thenational.ae/business/energy/iraq-uae-and-saudi-arabia-take-bigger-slice-of-us-crude-market--eia-says" target="_blank">http://www.thenational.ae/business/energy/iraq-uae-and-saudi-arabia-take-bigger-slice-of-us-crude-market--eia-says</a></p>
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<div class="con-mid arttext arttext-width"><div class="article-body-page"><div class="body"><div class="article-body-page current" id="page1"><p>Opec was the big market share winner as US crude oil imports rose in the first half of the year and for the first time since 2010.</p>
<p>The US government’s Energy Information Agency reported that overall imports rose by 7 per cent, or 528,000 barrels per day, up to June, with Nigeria and Iraq taking the largest share of the increase.</p>
<p>The EIA also reported that commercial crude oil stockpiles fell sharply last week, which helped propel oil prices higher yesterday, with world benchmark North Sea Brent gaining about 50 cents to an intraday high of US$52.32, up about 14 per cent since last week when Opec said it would try to reach a deal by the end of November to curb output.</p>
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<p>"This increase reverses a multiyear trend of decreasing crude oil imports as a result of increasing US production," the EIA said in its latest report on the industry.</p>
<p>Imports from Nigeria, Iraq and other members of Opec rose by 504,000 bpd, while imports from neighbouring Mexico fell by 118,000 bpd. But the higher imports have mostly displaced US domestic production, particularly from the shale oil sector, which fell to about 8.5 million bpd last month from a peak last summer of 9.6 million bpd.</p>
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<p>The main factor behind the US output decline has been the collapse in oil price, in which Brent crude fell from about $115 a barrel in late 2014 to as low as $29 a barrel earlier this year – a 74 per cent fall – making a large number of shale producers unprofitable.</p>
<p>But the EIA also attributed the rising imports partly to changes in US law, which allowed domestic producers to export oil for the first time in 40 years."</p>
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</div> Oil-import quota clash By Kevin Robinson-Avila / ABQ Journal Staff Writertag:gomarcellusshale.com,2016-09-30:2274639:Topic:7513572016-09-30T21:35:37.783ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
<p><span>ALBUQUERQUE, N.M. — Independent oil producers in New Mexico and West Texas are waging a David and Goliath battle to impose import quotas on oil from the Organization of Petroleum Exporting Countries.</span></p>
<p>A new Panhandle Import Reduction Initiative, launched last April by prominent producers in the San Juan Basin in the Four Corners and the Permian Basin in southeastern New Mexico and West Texas, has support from about 600 local operators and related industry businesses. The…</p>
<p><span>ALBUQUERQUE, N.M. — Independent oil producers in New Mexico and West Texas are waging a David and Goliath battle to impose import quotas on oil from the Organization of Petroleum Exporting Countries.</span></p>
<p>A new Panhandle Import Reduction Initiative, launched last April by prominent producers in the San Juan Basin in the Four Corners and the Permian Basin in southeastern New Mexico and West Texas, has support from about 600 local operators and related industry businesses. The independent companies involved say it’s time for the U.S. to fight back against the OPEC price war that began two years ago and which now threatens to drive many domestic companies out of business.</p>
<p>But they face a steep uphill battle not only to convince federal officials to enact protectionist measures in today’s globalized free-market economy, but also to unite the industry as a whole behind such action, since many trade associations and large corporate producers oppose it.</p>
<div class="p402_hide"><div id="attachment_852639" class="wp-caption alignright"><a href="https://www.abqjournal.com/852635/clash.html/mb06_jd_26sep_oil4" rel="attachment wp-att-852639"><img class="wp-image-852639 size-thumbnail" src="https://d3el53au0d7w62.cloudfront.net/wp-content/uploads/2016/09/25/mb06_jd_26sep_oil4-146x175.jpg" alt="Daniel Fine, associate director of the Center for Energy Policy at the New Mexico Institute of Mining and Technology in Socorro: Initiative "a warning shot for OPEC"" width="146" height="175"/></a><p class="wp-caption-text">Daniel Fine, associate director of the Center for Energy Policy at the New Mexico Institute of Mining and Technology in Socorro: Initiative “a warning shot for OPEC”</p>
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<p>Initiative leaders will hold a public rally in Carlsbad on Tuesday to drum up more public support and to put OPEC on notice that it could face restrictions on access to the U.S. if it continues to deliberately overproduce crude for an already-flooded market, said Daniel Fine, associate director of the New Mexico Center for Energy Policy at the New Mexico Institute of Mining and Technology, who is working to build the movement.</p>
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<div id="story-ad-0" class="story-ad"><div id="google_ads_iframe_/3828090/sidebar-top_0__container__">“This is a warning shot for OPEC that we’re drawing a line in the sand in New Mexico and West Texas,” Fine said. “Unless they agree to freeze overproduction and abandon the strategy of using low prices to shut down Southwest shale-oil production, they could face import quotas.” The complete article is here-> <a href="https://www.abqjournal.com/852635/clash.html" target="_blank">https://www.abqjournal.com/852635/clash.html</a></div>
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</div> Join us today for live coverage of the Panhandle Import Reduction Initiative Carlsbad meetingtag:gomarcellusshale.com,2016-09-27:2274639:Topic:7509542016-09-27T13:19:00.037ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
<p><span>Today history will be made in Carlsbad, New Mexico as far sighted independent oil producers, oil workers and leaders of the communities hurt deeply by Saudi Arabia and the OPEC cartel say no more! There, today a new vision for America will be laid out for everyone to see and hear! For anyone near Carlsbad please please join us! But if you can't come in person our first LIVE Facebook event will take place then from 11:30 to 2:00. From Saudi Arabia and around the world and most…</span></p>
<p><span>Today history will be made in Carlsbad, New Mexico as far sighted independent oil producers, oil workers and leaders of the communities hurt deeply by Saudi Arabia and the OPEC cartel say no more! There, today a new vision for America will be laid out for everyone to see and hear! For anyone near Carlsbad please please join us! But if you can't come in person our first LIVE Facebook event will take place then from 11:30 to 2:00. From Saudi Arabia and around the world and most importantly across the United States come to our Face Book page. There you will be able to see and hear the event, comment during the event, and sign up for the many PIRI live events to come. (Many thanks go to our speakers Daniel Fine, associate director at the New Mexico Institute for Mining and Technology’s Center for Energy Policy; Tom Taylor of Four Corners Economic Development; Tom Dugan of Dugan Production Corp.; Tom Cambridge of Cambridge Production, Inc.; Judy Stark, executive vice president of the Panhandle Producers and Royalty Owners Association; and John Yates Jr. of Yates Petroleum. Lastly, the great Face Book Live Tech Team , Apple, and the wonderful people of Carlsbad, NM for their convention center) Please join us at the PIRI FACEBOOK PAGE -></span><a href="https://www.facebook.com/PanhandleImportReductionInitiative/" target="_self">https://www.facebook.com/PanhandleImportReductionInitiative/</a></p> Southwest Oil Independents warning to Saudi Arabiatag:gomarcellusshale.com,2016-09-05:2274639:Topic:7481052016-09-05T04:52:23.639ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
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<div class="_5pbx userContent" id="js_m"><div class="text_exposed_root text_exposed" id="id_57ccf8c909c857f49788602"><p>AUGUST 31, 2016<br></br>Contact: Dr. Daniel Fine, Tom Cambridge<br></br>The Panhandle Import…</p>
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<div class="_5pbx userContent" id="js_m"><div id="id_57ccf8c909c857f49788602" class="text_exposed_root text_exposed"><p>AUGUST 31, 2016<br/>Contact: Dr. Daniel Fine, Tom Cambridge<br/>The Panhandle Import Reduction Initiative (PIRI)<br/>Dr. Daniel Fine @ 505-771-1865, Tom Cambridge @ 806-358-7744 <span class="text_exposed_show"><br/>Daniel.Fine@nmt.edu</span></p>
<div class="text_exposed_show"><p><span class="font-size-5"><strong>Southwest Oil Independents warning to Saudi Arabia</strong></span></p>
<p>Carlsbad, New Mexico - Texas and New Mexico oil companies and communities will warn Saudi Arabia and OPEC to stop overproduction of oil and lower prices as a strategy to slow or shut them down or face import quotas.</p>
<p>This is the challenge of independents at the Panhandle Initiative to Reduce Imports (PIRI) at an industry and public rally in Carlsbad on September 27th. It will go from 11:30 A.M. to 2:00 P.M. and will be held with a free lunch and admission at the Pecos River Village Convention Center, 711 MUSCATEL AVE, CARLSBAD, NM 88220</p>
<p>Southwest and Rocky Mountain oil producers are under OPEC and Saudi Arabian attack . By 2019 they will capture the recovery of the demand for oil . OPEC is planning to force American consumers back to the 1990s of dependence<br/>of imports of foreign oil.</p>
<p>The American oil industry, which has in the last 10 years created the technology of oil self-sufficiency, will survive without the smaller independent company pioneers in shale and their future risk-taking in finding oil. Integrated companies (with production and refining combined) will survive and <br/>dominate in a second downturn with a smaller market share in America alongside potential 60% oil imports from foreign producers outside North America.</p>
<p>This summer’s crude oil price price recovery is unsustainable as Saudi Arabia expands capacity to supply most of the of the 2019 demand upturn worldwide. Price volatility should occur around geopolitical events such as military collision in the South China Sea.</p>
<p>The PIRI will present Dr. Daniel Fine and our strategic “White Paper” as the keynote along with oil and gas operators from the Delaware Basin (New Mexico Permian) and the San Juan Basin.<br/>The oil and gas industry “bust” will be presented by Tom Taylor, Economic Development, Four Corners and Tom Dugan of Dugan Productions. Tom Cambridge will speak on the Panhandle of West Texas and John Yates, Jr., Yates Petroleum, on the Permian/Delaware.</p>
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<p>More information about the Panhandle Import Reduction Initiative (PIRI) can be found on the PIRI website -><a href="http://www.panimportreduction.org/" target="_blank">http://www.panimportreduction.org/</a> or by calling Dr. Daniel Fine at 505-771-1865 and Tom Cambridge at 806-358-7744 </p>
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</div> The Panhandle Import Reduction Initiativetag:gomarcellusshale.com,2016-08-01:2274639:Topic:7436882016-08-01T22:35:43.200ZBob Perkinshttps://gomarcellusshale.com/profile/BobPerkins
<p><span>Folks FYI , there is a new group called the <strong>Panhandle Import Reducti</strong></span><span class="text_exposed_show"><strong>on Initiative</strong> representing oil field workers and independents that is going nationwide that started in the Panhandle-Permian and New Mexico's San Juan and Artesia, NM. The mission of the group is to restrict crude imports from overseas. “Why are we buying imports from the Mid-East when OPEC has launched an offensive to basically shut down our…</span></p>
<p><span>Folks FYI , there is a new group called the <strong>Panhandle Import Reducti</strong></span><span class="text_exposed_show"><strong>on Initiative</strong> representing oil field workers and independents that is going nationwide that started in the Panhandle-Permian and New Mexico's San Juan and Artesia, NM. The mission of the group is to restrict crude imports from overseas. “Why are we buying imports from the Mid-East when OPEC has launched an offensive to basically shut down our industry?” Fine said. “It’s the same oil we’re producing in our shale basins where we have great supplies to meet market need. We can be completely self-sufficient, so let’s cut off over-supply of cheap imported oil.”</span></p>
<p><span class="text_exposed_show">Initiative leaders will present their proposal to whomever wins this year’s elections, asking the new president to use executive authority to cease crude shipped from overseas by March 1. Only imports from Canada and Mexico would be allowed.</span></p>
<p><span class="text_exposed_show">“It would break OPEC’s back with respect to price manipulation and lead to market prices set by U.S. supply and demand,” said Tom Cambridge, owner and chairman of Cambridge Production in Amarillo, Texas. The movement has so far garnered support from about 600 producers and other industry sectors in New Mexico and West Texas, Fine said.</span></p>
<p><span class="text_exposed_show">By and large, it’s led by small, independent producers, who are the ones most hurt in the oil bust, said John Yates Jr. of Yates Petroleum in Artesia. “Import reductions would help stabilize the smaller companies and independents who are the most impacted, and it would put a lot of people back to work,” Yates said. “It would allow producers to make it through the downturn, while helping the state and federal governments with taxes and royalties. It’s incumbent on everyone to make sure we survive this. PLEASE JOIN US! @ <a href="https://www.facebook.com/PanhandleImportReductionInitiative/?fref=ts" target="_blank">https://www.facebook.com/PanhandleImportReductionInitiative/?fref=ts</a></span></p>