U.S. Shale Faces A Workforce Shortage

 

A problem for the U.S. shale oil and gas industry that analysts and observers have warned about for a long time has materialized: there is a shortage of workers. According to one service provider for E&Ps, trucker jobs remain vacant even with an annual paycheck of $80,000, which is certainly a big change from a couple of years ago when layoffs were sweeping through the shale patch.

This shortage could dampen the prospects of not just shale producers, who are eager to ramp up production as quickly as possible and take advantage of higher international oil prices, but it will also seriously hamper the recovery of the oilfield services segment, which has been hit harder than E&Ps by the price crash. Continue reading

The U.S. Interior Department Halts Future Arctic Oil Drilling

If there’s so little oil left in the region, why is Russia drilling for it? Is it yet another free gift from the Obama administration?

 

Blocking lease extensions and future sales

The Interior Department announced today it will stop selling new Arctic drilling leases for future scheduled sales, and it will not extend leases currently held by companies like Royal Dutch Shell.

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Statist-leaning California headed toward third-world region amid continuing megadrought

(NaturalNews) Is California turning back into a desert? Perhaps, but that’s just one of many reasons why it is becoming less and less desirable to live there.

As most Americans know, the Golden State is in the throes of one of the worst droughts in California history. As reported by Bloomberg News, some farmers are resorting to desperate – and expensive – measures just to keep their fields from evaporating into dust:

Near California’s Success Lake, more than 1,000 water wells have failed. Farmers are spending $750,000 to drill 1,800 feet down to keep fields from going fallow. Makeshift showers have sprouted near the church parking lot. Continue reading

Russia to continue developing Arctic oil, gas resources despite sanctions

What the Russians see is skyrocketing oil prices that aren’t too far away around the corner. They know that this ‘high’ won’t last too long. It also helps them lay claim to the Arctic region and enables them to send the Russian military out to enforce their wish in grabbing hold of the Arctic.

 

Despite falling prices for raw materials, companies should maintain their investment plans not to lose what is done, Russian Energy Minister said in an interview to the Rossiiskaya Gazeta

MOSCOW, January 22. /TASS/. Russia to continue implementing Arctic oil and gas projects despite Western sanctions and low oil prices, Russian Energy Minister Alexander Novak said in an interview to the Rossiiskaya Gazeta that will be published on Friday, January 23. Continue reading