Is there anything better than the prospect of a 3 day weekend? (Besides the ecstasy of opening up a Morning or Nightly Surge.) There may be, but right now I can’t think of any, aside from that smart ass in the back yelling, “How about a 4 day weekend?”. The one “extra” day puts everyone at ease. I know it puts me at ease… kind of like betting a hard 8, and seeing two 4’s settle face up on the dice. I’m going to Vegas in April, so gambling references may start to trickle in in the coming days. But this isn’t about games of chance. Here is where we come for what’s certain, what we know we can’t count on… T-Kizzle and his Morning Surge followed right here with the nightly happenings in the world of oil & gas.
So like a gas pedal in a car being chased by an angry drug cartel… let’s hit it.
Trump EPA Nominee Scott Pruitt Confirmed – 3,000 Oil & Gas Emails Not Yet Available to Senate
By a vote of 52-46 Oklahoma City Attorney General Scott “Do it*” Pruitt was confirmed by The Senate to run the EPA.
*(Not a confirmed nickname, even though it should be)
This comes one day after an Oklahoma judge ruled that Pruitt must produce as many as 3,000 emails, which hold communications with coal, and oil and gas companies, by Tuesday. Pruitt has fought to keep the e-mails private for nearly two years. Democrats were unsuccessful in their attempts to delay the vote until the e-mails were read, while Republicans viewed this as just another of many stall tactics.
Who’s right? They’re both right. And they’re both wrong. That’s what you get here with The Nightly… decisive, unflinching commentary that cuts thru the clutter and knows how to take a side.
Next Wave Of U.S Oil Boom?
According to CNN Money, the energy industry is coming out of a two-year “dark period” of layoffs and bankruptcies with renewed vigor. U.S. oil companies seem to have weathered OPEC’s move to bury them in low prices. Now, U.S. Shale producers are cashing in by pumping more oil and rehiring a good number of the workers they laid off during the bad times.
It’s odd to see OPEC not easily winning and laughing for once. We all know that The Program here is a big fan of OPEC, but it’s still nice to see even the giant of giants be cut down to size once in a while.
What’s leading the U.S. oil resurgence? Great question! The comeback is being spearheaded by a noticeable resurgence in the Permian Basin. If this were 1977, The Permian Basin would be the Studio 54 of shale drilling in Texas and New Mexico at the moment… with a much shorter line to get in, but much weaker drinks. Frackers see The Permian as a goldmine, as they’re adding rigs by the dozens. The rig count has shot up from a low of 132 last April to 301 now.
Matt Smith, (yes, that Matt Smith!) director of commodity research at ClipperData, recently wrote, “All evidence is indicating that an oil price over $50 is fanning the flames of higher production.”
USA! USA! USA! That’s always a nice chant to hear unless you have a phobia for hearing initials yelled loudly.
Norway’s Oil Jobs Prospects Recover
Statistics Norway says that the overall economy in Norway has begun to rebound from the oil price stall out. The number of job vacancies in Norway’s oil & gas biz was up in the fourth quarter of 2016 compared to the fourth quarter of 2015. This is being viewed as an early sign of recovery after the oil price slump. Norway’s total petroleum production went up compared to 2015, with oil production rising for the third year in a row as well. Another positive sign for Norway’s oil & gas prospects is its exports of natural gas is up slightly in 2016 compared to 2015.
What else can I say about Norway that hasn’t already been said? For those who think Norway’s motto should be “Norway! Pop by on the way to Sweden”… not so fast. One thing I learned at a very young age was to “never should you count out Norway”. Or maybe it was “Never have a shoot out in Norwood”. It was a confusing time back then…
There it be. May this “Nightly” kick off your weekend with some newly acquired knowledge and a re-energized passion for life… or at least a reason not to jump off a bridge. A special shout-out to Kelvin White “Knight”. Typos are a sworn enemy of The Program here. Thanks for keeping us on our toes! And let me say for the record, your viewership means a lot! #NoJoke. We will try to spellll thinghs better from heaar on outt! Until then… night night.