Proponents of the Dakota Access Pipeline, which will connect fracked crude oil from the Bakken fields in North Dakota to markets across the country — claim the controversial project will enhance energy independence. But at least a portion of the oil may well end up as exports to foreign markets, either as crude or as a refined product.
Energy Transfer Partners, the company behind the Dakota Access Pipeline, has built public support and pressured regulators to approve the project by asserting that the oil will enhance energy independence, because it will be used exclusively by U.S. consumers.
The company claimed in a presentation in Iowa, a state that granted approval for the project this year, that the pipeline will feature “100% Domestic produced crude” that “supports 100% domestic consumption.”
The domestic energy claim, which has been touted by company brochures and a pro-pipeline website, has also been used to criticize hundreds of demonstrators in North Dakota who say the Dakota Access endangers drinking water and threatens sites that are sacred to a number of Native American nations and tribes.
“It’s a shameful act by a group of people trying to disrupt our energy security and independence,” Dakota Access officials told the Associated Press in the response to the protests, which have blocked construction of the pipeline near the city of Cannon Ball, N.D.
Members of the Red Lake Nation during a rally on Dakota Access Pipeline August 24, 2016 outside U.S. District Court in Washington, D.C.
Photo: Alex Wong/Getty Images
“We track [Dakota Access Pipeline] and the export dynamics closely,” says Bernadette Johnson, the managing partner at Ponderosa Advisors, an energy advisory firm. Johnson notes that the pipeline provides a “competitive option” to bring Bakken barrels to the Gulf Coast, where “some of it may be exported.”
The Intercept also reviewed regulatory filings that suggest some of the oil transported by the Dakota Access Pipeline will be shipped overseas.
When reached for a comment, a spokesperson with the pipeline project declined to defend the firm’s earlier statements about “100% domestic consumption.”
“We will not own the oil that is transported through the pipeline. We are like FedEx. We will deliver the oil to the refineries for the producers,” said Vicki Granado, Energy Transfer Partner’s spokesperson.
The Dakota Access Pipeline route brings oil from the Bakken fields to a hub in Illinois, from which it will connect to existing pipelines that lead to the Nederland, Texas, terminal on the Gulf Coast, a facility owned by Sunoco Logistics, a partner to the Dakota Access project, capable of crude oil exports.
Energy Transfer Partners’ 10-K, filed with the Securities and Exchange Commission, notes that low crude oil price are a challenge for the company due to “general oversupply,” but that “export projects” under construction, including at Nederland, will “balance this market by 2018.” The filing also lists the Bakken pipeline in a section about positioning the company as a “leader in the export of hydrocarbons.”
Earlier this month, Energy Transfer Partners presented at an infrastructure conference sponsored by Citibank, highlighting the Dakota Access Pipeline as a “growth project” under a section about how the company is “exceptionally well positioned to capitalize on U.S. energy exports.”
Opponents of the pipeline in Iowa and South Dakota raised concerns that the project might not serve the public interest the recent decision to lift the ban on exporting crude would mean oil transported by the pipeline might be destined for foreign markets.
“We are certain that this oil will be sent to the Gulf of Mexico and sold to the highest bidder,” says Jonas Magram, an Iowa resident who lives in a county along the path of the Dakota Access pipeline, who has protested the construction. Magram says the claim that the Dakota Access is designed to boost energy independence is “absolutely baseless,” especially since the unrefined oil can now be exported.
Attorneys for the Dakota Access project have repeatedly dismissed those concerns, calling them “irrelevant.”
But the firm had more than a passive role in the decision to repeal the export ban.
Former Gov. Rick Perry, R-Texas, urged lawmakers to lift the ban on crude oil only one month after joining the board of Energy Transfer Partners, the parent company of the Dakota Access Pipeline. Filings reveal that Energy Transfer Partners also directly lobbied on H.R. 2029, the legislation that lifted the export ban on crude oil last December.
Top photo: Pipes for the proposed Dakota Access Pipeline at a staging area in Worthing, S.D. , on May 9, 2015.
I said this in response to another article, but it is worth repeating:
The Dakota Access oil pipeline is being constructed by Energy Transfer Partners, a fortune 500 company. The Chairman & CEO of Energy Transfer Partners is Kelcy Warren. Mr. Warren is listed as the 181st richest individual in the United States with a personal net worth of 6.6 billion dollars. Wikipedia reports that in 2015 Mr.Warren donated $6 million to ex-Governor Rick Perry’s presidential campaign.During the 2014 election cycle, Warren gave Texas
Governor Abbott $555,000 in cash as the GOP attorney general prepared to run for governor. The Dallas News reports that, “In 2011, Warren also picked up $1,300 in expenses for an Abbott fundraiser.” In return, Mr. Warren and his wife have secured appointments to state boards. Mr. Warren’s appointment to the Parks and Wildlife Commission Board is a matter of concern because the commission is tasked with regulating pipeline safety and rates. The Dallas Morning News reports that “Energy Transfer Partners wants to build pipelines across parts of West Texas to transport the Permian Basin’s natural gas to Mexico. According to the Financial Times, in 2013, Mexico’s industrial users of electricity paid 45 percent more for power than U.S. factories did.”
In other words, the US industries that moved south of the Rio Grande to avoid “operational costs” (labor, environmental, taxes) are the intended targets of Mr. Warren’s efforts.
http://www.dallasnews.com/news/metro/20151126-abbott-appoints-kelcy-warren-wife-to-state-boards.ece
You have to note the names of the politicians are missing – cover for those selling everyone out….it is about the same as imports without labeling country of origin to prevent a political boycott…. You may stand up – protest – and petition all to no avail without any way of holding those responsible to answer.
IS IT POOR REPORTING?? If you look at Congress – you can ask whom they pretend to represent…. another echo of General Benedict Arnold’s doing what is in the best interest of – – as he stood on the gallows WE HUNG HIM FROM……no longer WE the PEOPLE as evidenced by Congress blocking hearings to appoint a new JUSTICE for SCOTUS
After All Who needs JUSTICE
Black Hawk, Sauk
“How smooth must be the language of the whites, when they can make right look like wrong, and wrong like right.”
Does President Obama give a royal flying ______ about this corruption and corporat overreach and abuse and violation of property rights of America and Americans? No.
He’s not a fighter for America, he’s a lawyer for wallstreet after all.
Actually, if you will notice, the Republicans have the majority vote in Congress so it wouldn’t matter if President Obama cared or not. They have out voted him on any & everything helpful to the American people, especially these last 4 years. Also, you might want to take notice that the people in power that are for this atrocity are Republicans. If we want to see any type if change & want to see anyone other than the top 1% represented, we have to get rid of the obstructionist Congress & vote blue up & down the ballots. Contrary to what you obviously think, the president is not the “all powerful wizard”. The way government works, Congress is the “man behind the curtain”. Just as an example, they cut, blocked, hijacked, & killed 5 Veteran bills put b4 them & the one bill Obama was able to get Congress approval on was a compromise of much less than what President Obama was asking for. It is sad that the average everyday American Republican does not realize that they are being manipulated & used for their vote to keep the 1% in power & in control.
Saw the BCI van turning south on hiway 6 just before 8pm sat night. I guess they weren’t allowed past fort Lincoln either.
STANDING ROCK SIOUX TRIBE CHAIRMAN: SACRED BURIAL SITES DESECRATED ON SATURDAY BY DAPL CONSTRUCTION
http://nativenewsonline.net/currents/standing-rock-sioux-tribe-chairman-sacred-burial-sites-desecrated-saturday-dapl-construction/
[“BREAKING NEWS
Standing Rock Sioux Tribe condemns destruction and desecration of burial grounds by Energy Transfer Partners
Published September 3, 2016
CANNON BALL, NORTH DAKOTA – Sacred places containing ancient burial sites, places of prayer and other significant cultural artifacts of the Standing Rock Sioux Tribe were destroyed Saturday by Energy Transfer Partners, Tribal Chairman David Archambault II said.
The desecration came one day after the Tribe filed court documents identifying the area as home to significant Native artifacts and sacred sites on Friday, before the Labor Day weekend.
“THIS DEMOLITION IS DEVASTATING,” ARCHAMBAULT SAID. “THESE GROUNDS ARE THE RESTING PLACES OF OUR ANCESTORS. THE ANCIENT CAIRNS AND STONE PRAYER RINGS THERE CANNOT BE REPLACED. IN ONE DAY, OUR SACRED LAND HAS BEEN TURNED INTO HOLLOW GROUND.””]
Dakota Access Pipeline Tribal Liaison Formerly Worked For Agency Issuing Permit To Cross Tribal Land
http://www.globalresearch.ca/dakota-access-pipeline-tribal-liaison-formerly-worked-for-agency-issuing-permit-to-cross-tribal-land/5543221?utm_campaign=magnet&utm_source=article_page&utm_medium=related_articles
Brave Amy Goodman RESPECT
Dakota Access Pipeline Company Attacks Native American Protesters with Dogs & Pepper Spray
https://www.youtube.com/watch?v=kuZcx2zEo4k
It’s a private project financed with private money to move a privately owned and needed commodity to market creating many high paying jobs in the energy sphere that this country so desperately needs along the way. The only thing they need from the worthless & shameful, criminal neocon riddled Obama disgrace of an administration is their permission to build it where they want to build it. I think if it me and I ran the company wanting to finish this project I’d just wait for November when Trump wins the coming election by a landslide precisely because he’s for energy projects and they jobs they spin off just like this. High paying energy jobs are exactly the kinds of jobs this country needs and it’s more govt idiocy like stalling this project that’s holding back being energy independent that this country should be able to easily accomplish – especially with the help of the new and energy friendly Trump administration apparently…
Trump the de-regulator…
He says what you want to hear…
What is a so-called job when you trample on Indigenous Burial Grounds, tear them up and destroy heritage? Shame on you! This is what Natives have been up against since your ancestors came here, stole, destroyed and claimed out of lies, deceit and treachery. You sell your soul for money that doesn’t have any worth.
@ Silverado
Only when the last tree has died
and the last river been poisoned
and the last fish been caught
will we realise we cannot eat money
Cree Indian Proverb
Before our white brothers arrived to make us civilized men,
we didn’t have any kind of prison. Because of this, we had no delinquents.
Without a prison, there can be no delinquents.
We had no locks nor keys and therefore among us there were no thieves.
When someone was so poor that he couldn’t afford a horse, a tent or a blanket,
he would, in that case, receive it all as a gift.
We were too uncivilized to give great importance to private property.
We didn’t know any kind of money and consequently, the value of a human being
was not determined by his wealth.
We had no written laws laid down, no lawyers, no politicians,
therefore we were not able to cheat and swindle one another.
We were really in bad shape before the white men arrived and I don’t know
how to explain how we were able to manage without these fundamental things
that (so they tell us) are so necessary for a civilized society.
John (Fire) Lame Deer
Sioux Lakota – 1903-1976
I found more information about this incident at Indiancountrytoday, thanks Doug. I don’t condone this attack but the one hundred demonstrators entered private land to confront construction workers working on this project. I doubt there is any legal basis for them to seek court action because they were repulsed from private land they trespassed onto. They may get some encouragement and sympathy from their supporters due to this action but they have also given ammunition to their enemies because they can now be painted as the aggressors crossing over from tribal land onto our worshiped and protected private property.
This was probably just theatrics aimed at drawing much needed support, coverage and numbers of new people to the camp, they need thousands of demonstrators not a hundred to put up a real effective resistance.
Yes, well, it might be enlightening to explore the process by which the land in question became “private.” I would suggest starting with reviewing the boundaries of the “Great Sioux Reservation”, established by treaty at Fort Laramie in 1868 and the subsequent massive diminishments of tribal lands undertaken without permission of the tribes, in violation of that treaty (not, of course, that the US has ever failed to violate a treaty made with Native Americans).
You will note that the incident in question took place in Morton County, ND. I’d have to spend more time with the maps to be sure, but I’d be willing to bet that there isn’t a square mile of Morton County that wasn’t included in the original boundaries of the Great Sioux Reservation.
A really good way to get an introduction to Indian humor is to visit the surviving fragments of the Great Reservation (and any number of other diminished and decimated reservations) and ask knowledgeable elders what they think of Article VI.
I was wrong. A substantial portion of Morton County is outside the boundaries of the Great Res.
However, the northern boundary was the Heart River, so every inch of the right bank of the Missouri up to Mandan was stolen from the tribes after the Fort Laramie treaty. That definitely includes the location of the current conflict.
These are emotional and compelling ethical rhetoric but they produce no power for the tribes because even people with clear title to private property are treated the same when these pipelines are built. This was evident when the southern section of the keystone pipeline was build and locals and activists tried to block that project.
I’m not certain but the constitutional treaty language you quote may only apply to treaties with foreign nations treated as equals while the conquered tribes have always been viewed as lesser peoples and actually as children.
I doubt enough people including the local Dakota people are interested enough in this camp and its objectives to make a difference. The people who fought to stop the southern keystone pipeline couldn’t attract much support beyond a little help with bail money and worthless pledges of support from Big Environmental posers such as 360.org.
Legal Defense Fund for Sacred Stone Spirit Camp
https://fundrazr.com/d19fAf?ref=sh_25rPQa
Pledge to Resist the Dakota Access Pipeline
https://docs.google.com/forms/d/e/1FAIpQLSef4Xjn-tckbx7dgpIub9PiuXIGwPxEUdfZ9ih2kwwr0BeslQ/viewform?c=0&w=1
Hired DAPL Security Officers Violently Attack Native Americans with Dogs and Pepper Spray
Wallstreet Corporatty Thieves Are Eager To Oppress Americans and Kill if They Have (Want) To. They Violate The Declaration of Independence and Constitution Putting Profits Before People.
They are trespassing.
Standing Rock Sioux Tribe Condemns Destruction and Desecration of Burial Grounds by Energy Transfer Partners
Do you have any links to printed reports of these attacks, I can’t view videos.
I read a report a few months ago about some tribe members who have become wealthy from their private oil leases on their properties held outside of tribal control. This is due to how some of the original tribal lands were allotted to individuals as homesteads outside of communal control.
Indian tribes are called sovereign nations by some people but they actually enjoy little sovereignty or ownership and are still treated as conquered nations under the sufferance of the dominant power, state or federal.
Follow the story from the tribes’ POV here:
https://indiancountrytodaymedianetwork.com/story/dakota-pipeline
That’s how “multi-culturalism” typically works out in history, contrary to pretty theories to the contrary advanced by naive and ignorant people.
Even the internationally recognized sovereign government of Hawaii could not resist possession by overwhelming power of whites who pined to control its resources, therefore its people.
Mao surely had one thing dead right: “Political power grows out of the barrel of a gun.” The founding generation would have agreed with him entirely, based on both history and their own living experience. And therefore why the 2nd Amendment.
Tara Zhaabowekwe Houska
Cannon Ball, ND ·
The state of North Dakota continues to paint indigenous peoples as aggressors, as violent, as expendable people undeserving of basic human rights. They have blockaded us in. They have taken our drinking water. They have taken our medical support. And today, their police stood by as Dakota Access private security maced and attacked men and women with trained dogs.
We are human beings, brought together to fight for our children’s futures and for Mother Earth. This is how corporate America and the government responded.
this is how Barack Obama solves problems – with a sledge hammer and drones. Barack has proved himself to be a very selfish maniacal radical and Hellary Clinton is no better – unless she actually comes to you to support you. Her words are meaningless lies.
Tara Zhaabowekwe Houska
Cannon Ball, ND ·
The state of North Dakota continues to paint indigenous peoples as aggressors, as violent, as expendable people undeserving of basic human rights. They have blockaded us in. They have taken our drinking water. They have taken our medical support. And today, their police stood by as Dakota Access private security maced and attacked men and women with trained dogs.
We are human beings, brought together to fight for our children’s futures and for Mother Earth. This is how corporate America and the government responded.
#StillHere #Resilient #Indigenous #NoDAPL #LoveWaterNotOil
Photo: Teko Alejo
https://www.facebook.com/photo.php?fbid=10108150120644830&set=a.990865271030.2806264.13925704&type=3&theater
Many people don’t realize the economic burden imposed by exports. To produce the oil for export requires environmentally dangerous fracking. Workers toil in difficult circumstances, ever in danger of being blown up on an oil rig. The oil must be transported using expensive and controversial pipelines. At the end of the day, some foreigner rewards you with paper dollars.
Well, the US government has a printing press which could have simply generated those paper dollars with far less effort. Everybody could spend their time reclining on the porch, sipping margaritas, with no sweat and no risk to the environment. Then the US government could pay them with paper dollars, just like the foreigner did. So the end result would be the same, without all the wasted effort and unnecessary risk. The oil would still be in the ground for future use.
This may conflict with the Puritan work ethic. Americans yearn to toil harder, risking their environment and their health. But sometimes the easy way out really is the better way.
Wait a darn minute.
Ordinarily i read your posts for education and entertainment in spoofittery. Wha’ hap’n? I toiled all the way thru looking for the irony and you slap me with the plain truth? How dare you.
Unfortunately, wallstreet has already abided by your advice. Problem is, they were and are first in line and they take it all. When you see the thieves spending it on remote islands and bomb shelters, run.
With no disrespect to any other considerations mentioned by others, the reason some domestic oil products always end up being exported is because they are traded for imported oil products more economical to arbitrage than to physically ship.
It’s a world market. The question is whether, on balance, the total domestic oil exported is matched by other oil imported to effect favorable arbitrage (which reduces overall cost of oil delivered to all locations).
An example of this kind of trade, for example, would be oil bought from Saudi Arabia by a Japanese company which they import to the US east coast in trade for an equal quantity of US oil available on the west coast is loaded for delivery to Japan. The oil that departs is “domestic” production and the oil that arrives is “foreign” oil. But the books balance.
Update today Sept 3, 2016 the private security employed by Dakota Access, LLC deployed vicious attack dogs, mace and tear gas against water protectors. A young girl bitten by private security dog in hospital. Private Security dog also attacks a Pregnant woman. Women and children maced.
sounds like the predatory wallstreet thieves ordered their pimped out oilco whores to maim but not kill Americans they consider expendable for profits.
wallstreet is willing to deprive, harm, and kill Americans for their profits.
the Bible calls that practice EVIL.
White people have been murdering Native American women and children since white people got here. Thoroughly disgusting, but nothing new about this.
They’ve been using the ruse of energy independence for years when their goal was to have eminent domain for private global corporations and have our government help to destroy our environment and private property.
Every pipeline property owner should receive royalties for every barrel of oil that is transferred across their land and which exposes them to potential harm and loss of value, especially if it goes offshore. A small one time payment doesn’t work for Hollywood and soft ware developers and it shouldn’t work to stiff landowners by oil companies.
The fraud of the TPP TPIP TISA (#T3) is enormous. The corporat thieves want to bill citizens for “anticipated projected losses” which can be ANYTHING, like, “we had legal plans to take your land for future revenues and protested and we lost a court battle but you will pay us $1 TRILLION for those losses of our expected profits”.
Corporats have gone completely insane with their demands to rule the planet.
https://www.youtube.com/watch?v=Rw7P0RGZQxQ#t=489.734625
An oil company lying? Nah; really? Who woulda guessed?
The environmental harms and the objections of Native Americans are enough reasons alone to stop this pipeline. Whether the oil would be exported is a minor detail.
Some commenters here seem to believe that the US is oil independent when in fact the US must import about 4.6 MMb/d every day to meet our needs. Any oil that is exported must be replaced with imports plus 4.6 MMb/d every day 365 days a year so restricting these exports would have no real effect on anything. The reason these exports are desired by oil companies is because they are convenient and profitable and needed to feed the world markets efficiently.
The tribes trying to stop this and other pipelines have a noble cause but no chance of stopping ‘progress’ so long as people demand fuel for their automotive lifestyle. The US is on track to set a new record high for the consumption of gasoline this year driven by low prices while the only thing that could decrease the demand for more oil production is a dramatic reduction in consumption.
You got it. Another thing that oil consumption drives is oil wars, which is all U.S. wars. So all these anti-war people who drive are hypocrites. Give up your damn cars and organize your lives so you don’t have to drive regularly, or be a part of the industrial war machine that’s wrecking our planet. There’s no in between here folks.
We can look at a curve though – the U.S. keeps boosting production – lower imports, higher exports. I see 7277 imported vs 4690 exported (thousands of barrels per day) as of 2015: http://www.eia.gov/totalenergy/data/monthly/pdf/sec3_9.pdf There’s no reason not to think that effective production (if permitted) CAN supply the entire American demand. In fact, if we didn’t have Saudi Arabia trying to drive American producers out of business, we probably would have self-sufficiency plus already. I think we ought to put a huge tariff on importing oil right now to allow the domestic industry to reach an economic equilibrium, and we should have a huge tariff on exporting oil that is meant to effectively be prohibitive (I say ‘huge tariff’ because realistically any prohibition that defies the market enough yields to smuggling; it pays to recognize our limitations and prefer taxes over that).
But why not barter oil, swap one type for another? Answer is (a) it puts a lot more tankers in the water going back and forth, and (b) it maintains the economic and military vulnerability to oil embargoes that we’ve suffered from in the past. It makes more sense to encourage drillers to search every nook and cranny for oil with characteristics they like, or refiners to rework it, or engine and furnace makers to reconfigure their products, or to develop competing or blendable renewable fuels. We can have an oil economy that stays within this country, or at most within the U.S. + Canada, and make it one that is really stable and offers businesses the kind of long term stability they crave.
I don’t see any oil experts claiming that it is possible for the US to be totally oil independent even with exploitation of tight oil, the production today is about equal to what was produced in the mid ’70s during that boom and imports are about the same. The environmental damage already evident is tremendous, look at a nighttime satellite view of the mid-US where the Bakken gas flairs light up almost one quarter of SD like a gargantuan flaming city. The nat-gas boom is also an ecological nightmare with a ridiculously huge cloud of leaked gas hanging over the Four Corners and contaminated water resources left in many places as a permanent cost of this supposedly cleaner alternative.
The US oil boom along with the Great Recession are what burst the oil price bubble and the Saudis are suffering loses just as all other producers are but they are using their increased output to maintain market share and US tight oil producers have no one to blame but themselves for being so productive in a tightening market.
There is a difference between an expert deciding whether the US can be oil independent by outcompeting foreign producers on a free market, as opposed to looking at whether the U.S. can generate sufficient oil if the foreign producers were hit with a big tariff. We know that the drilling has practically halted for some time now due to the low prices, and the U.S. production is nearly filling the demand; more production would meet it.
Of course, we know that the oil can’t last forever. Having oil prices go up on a steady basis so that renewable energy takes over in an internal marketplace should be part of this process. And of course lowering oil prices abruptly in order to wipe out renewable firms is part of how capitalism works, just like insurance companies operated at a loss (and abruptly changed the rules there) to keep Obamacare cooperatives from succeeding. But it would be more feasible to reign in the worst abuses if the producers were all American subject to American anti-trust law than if they are members of a foreign cartel of undemocratic nations.
What renewables are you referring to that could replace oil and are being affected by normalized oil prices?
“Of course, we know that the oil can’t last forever. ”
Yes, it can. And it will. At some market price set by supply and demand (rather than mandate), virtually no resource is ever fully expended. Nor the intensity of means sought to produce it in response to market price.
What will not be perpetually possible is to supply future markets at todays prices. But with higher cost, consumption drops (in fact as well as in theory) and alternatives become attractive. They also become less costly as they are more fully developed (consider the steadily diminishing cost of producing power with solar panels as an example).
Making predictions is always hazardous, but I suspect the long term market for oil will be restricted to those uses it is best fit — and not as energy powering movement of people and goods, which will be offered by other safer and less costly sources.
It doesn’t matter where the crude is refined. All prices are set by the world markets. Thus, your final price has nothing to do with what you’ll have to pay.
all prices are not set by world markets
that is the LIE being pimped by the criminal oilco thieves.
PRICES ARE SET BY PRIVATE CONTRACT WHICH ARE VERY LOW and the spot prices are market and pimped for appearances only by zion thieves who run spot trading.
But moreover – the issue of production is a matter of public ownership and control of land which the thieving criminal oilcos like to abuse at the risk of catastrophic damage to our sacred planet.
Truth is- oilco execs in prison make the world a better place.
“zion thieves” LOL!
“100% Domestic produced crude” that “supports 100% domestic consumption.”
People need to pay more attention to speech by politicians and capitalists. “Supports” is the key word here. It means that any minuscule fraction of the tar sands which is sold in the US indeed does support energy independence. A teeny tiny bit.
““It’s a shameful act by a group of people trying to disrupt our energy security and independence,” Dakota Access officials told the Associated Press in the response to the protests, which have blocked construction of the pipeline near the city of Cannon Ball, N.D.”
Translation: “I thought we handled the Redskin problem 100 years ago. Call out the National Guard.”
As usual, Fang is one of the few journalists that gets and reports facts. As usual, the headline waters down his exceptional journalism.
A lot of the writers are exceptional, clearly. ;)
Has anyone examined the depletion rates of the Bakken wells (and those of other tight oil and gas plays)?
Don’t place any large bets on a continuing US oil and gas glut.
Shale Bubble
fantastic post. great link!
“Field declines from the Bakken and Eagle Ford are 45% and 38% per year, respectively (this compares to 5% per year for large conventional fields)”
it’s all there
POINT OF NO RETURN
The population of the planet is currently too large to support the available resources on the planet for food and energy – we are using more than we can replace, ravaging the natural resources and killing off the plantation and food chain.
The consequence of this is that wallstreet criminals will offer a solution of printing more paper to loan to crank up supplies of some sort to preserve their god damned valuations at the cost of increasing the population as targets to pass debt to. Result? Higher energy use and more horrific climate change. AND THERE IS THE HITCH. Allowing wallstreet, IMF and worldbank to run their schemes on the planet prevents the turnaround the planet needs.
The result will likely be that the food supply will run out and weather will devastate farms further depleting the food supply. Subsequent wars and starvation will lead to disease and further famine. And then, the people on the planet will not have sufficient time to make changes that they really need to make now or yesterday. All this because of the current criminal currency system run by greedy thieves and their clown queen, Hillary Clinton.
The currency system must be replaced and the population must be reduced – 1 child per family or the wolves rodents and bugs will have you for dinner.
Exportation is utterly irrelevant. Oil is fungible; one barrel (of the same type and grade) is identical to another. And it goes where it’s needed and where the best value can be achieved (a factor of world market prices and transportation costs). If you require that the oil from this particular source be retained and used wholly in the US, that simply means that other US-sourced oil will be exported in its place. Plus to some extent it misallocates resources (in an economic sense) and thus results in unnecessarily higher prices world-wide.
Either fracking has environmental consequences or it doesn’t, and if it does either those consequences are significant enough to limit the use of that technique or they aren’t. Both are questions to be answered. But whether or not the oil thus produced is exported shouldn’t enter into the discussion. It’s a complete red herring.
It is not a red herring; a ban on oil exports would mean that prices for oil in the U.S. could not be artificially inflated by shipping production out-of-country. This would make expensive projects like tar sand oil un-economical and they would wither and die.
Investment would then move into renewable energy – wind, solar, storage – instead of new fossil fuel production, and what would happen is abandoned oil leases, just as we are now seeing abandoned coal mines. The fossil fuels would stay in the ground, instead of being pumped into the atmosphere to enhance global warming.
Yes, people with big long-term investments in fossil fuels would take a bath, but those greedy old dinosaurs will have to learn to live with that. It’s not like they’re going to be homeless on the streets or anything.
The purpose of the pipeline is relevant because the company is using the government to take property from landowners, through eminent domain.
Eminent domain is reserved for public use, not to enrich private companies.
that makes them criminals.
like the wallstreet criminals.
like criminal minded Hellary and her thieving backers.
they prefer to rob Americans for a living and profits.
even if it damages our sacred planet.
Export is not irrelevant. The direct costs of the pipeline – including potential (and likely) environmental costs – are born by the people through whose land the pipeline runs and in whose backyard the wells are drilled. The resource itself is the property of the public. Therefore the company exporting the oil is flipping the bird to the nation and the people who made it possible for them, exploiting those people for their personal profit.
Oh, and “oil” is not “fungible” – the “fungibility” of oil or any other commodity is a consequence of market rules, created and maintained by governments.
fungible? sure – as fungible as your lack of responsibility and destiny which seem to blow every which way and loose.
have a fungie day
Oil is most definitely NOT fungible if you can’t export it. See the text I quoted in the comment below, which says that American oil prices used to be lower.
Lower American oil prices meant a lower cost of living here. They also meant that American industry had, at least on this issue, a rare advantage over foreign competitors. A local glut could slow the pace of extraction, meaning that American oil reserves would last longer than otherwise, and sensitive areas like the Arctic might be avoided altogether. The lack of trade prevented supertankers from spilling oil off the country’s beaches. And last, but not least, the restriction of oil to domestic trade made it harder for international corporations to make all their profits on the sale abroad, from which any taxes will n e v e r return to the United States at all.
Hysteresis at work. A few years ago, with oil prices skyrocketing and traditional means of extraction near their peak, some geniuses who don’t care about anything aside from this quarter’s results decided to start using enhanced extraction methods, aka fracking, to extract the last bit of oil and gas from existing fields and to extract from fields that were formerly not economically viable. That set in motion the development of transport systems such as this and other pipelines to move the oil to export terminals and refineries. They were so efficient in extracting more oil and natural gas that he prices collapsed, even to the extent that fracking is barely viable, economically. But the process of building those pipelines trudges on, unaware of either the disappearing economic rationale or the impending environmental disaster.
To use the words of one of the two wonderful candidates of the Party, perhaps there is a 2nd Amendment solution to the greed and avarice of the oil company executives and their cronies in Congress.
I believe you’re correct sir. Price of gas and coal is very low – and really it isn’t viable. If you live in a state where energy is the economy, then it looks like a depression to you (read that somewhere, but have seen/experienced it).
On the other side: “renewables” are not economically viable either. They are heavily subsidized.
Were it not for outside influence, where would the market or the economy be right now.
The economic rationale has by no means disappeared. Someday the Saudis will abruptly shut off their taps and oil will top $100 a barrel. When that happens, the pipelines will be there to ensure that instead of American oil prices being at, say, $40, they instead go up to $120 as the nation’s coastlines are dotted with supertankers carrying most of that oil away to better-managed countries where the dutiful and ever so obedient workers can convert that raw resource into manufactured goods and cash. For the multinationals that sell that oil, it will be a great day out there in the consumer countries where they make their money, which will of course not be taxed in the U.S. at all.
The pipeline between Dakota Access end point at Patoka, IL and the Gulf coast is called the Capline. It still needs to be reversed to carry Bakken Oil. (that’s the yellow line on the above map) The Capline is presently moving oil from the Gulf up to the Midwest. Reversal sounds easy, but it takes a fairly major modification effort and that all depends on need and economics. The reversal project has been in planning for several years at least.
The oil out of North Dakota at roughly 1.2 million barrels per day is being moved 60/40 pipelines and rail. Most of the rail movement is to the east coast refineries. Those refineries use to get crude oil mostly from the Middle East by supertanker.
Bakken crude is also being piped straight south to the Wyoming and Colorado Shale fields and then over to Cushing, OK hub. From there it goes either down to Texas (maybe out to sea) or over to Patoka terminal. There’s already a pipeline expansion project between CO and OK for this route.
There’s a huge amount of crude oil and crude oil products being exported from the United States already. Most of the exports are products like diesel, gasoline, jet fuel, petcoke, etc. Here’s the latest export numbers, keeping in mind the capacity of the Dakota Access is designed for about 500,000 barrels per day: http://www.eia.gov
Crude oil exports (week of 8/19/16): 698,000 bpd
Refined products (8/19/16): 4,278,000 bpd
My guess is that Bakken oil will either be burned here or elsewhere and end up in our one and only atmosphere.
Bakken shale oil is ALREADY sold abroad, unless you don’t consider “Canada” as a “foreign” country.
The runaway train that wiped out the village of Lac Mégantic (Québec) in July 2013 originated from North Dakota and was headed to the Irving refinery in St-John (New Brunswick).
How is it these asocial anti-social predatory greedy worthless less than human oilco ceo’s and their whores have it in their heads that they can continue risking and destroying our habitat and civilisations with impunity? Do they think they spoiling the earth is acceptable? What sort of mental incapacity are these subhuman types deprived of since birth and what sort of operating environment has been forced upon people to accept these decrepit shit for brains types to have such power as to destroy our precious planet – our home? What do these peculiar imbeciles believe – that we are going to move to mars?
oil companies operate like organised crime.
the boss coerces pimped out whores in wdc.
then lies to his targets and abuses them for personal gain.
organised crime is a product of an environment that cultivates greed and corruption.
worse yet, people who are “member groupie participants” of organised crime believe they live for the moment and what happens after they are gone is NOT A CONCERN.
The land upon which we live, our earth, our soil, our water, our planet is our habitat and it is SACRED.
Those organised crime participants have sold their soles and are willing to cause ruin to our planet, our environment because they are zombies of death and destruction to feed their masters and their greed.
They live in denial as they are possessed by greed and are willing to destroy the planet for whatever bargain they made when they divorced themselves from earth and the spirit of humanity.
They are zombies. They speak, walk, talk, cogitate, but they are not married to the sacredness of life and our planet, your planet, your home, your operating environment. They dont mind if you suffer or die as a consequence of their actions.
This is what the Bible refers to as evil.
Given the scale of the unfolding global warming climate disaster, a gift that will keep on giving for the next 100 years, the rational thing to do is to implement a complete ban on the international trade in fossil fuels. Yet Obama (and Clinton), while making speeches about the threats of climate change, have been steadily promoting the expansion of the fossil fuel trade – Clinton, by establishing an office in the State Department to promote fracking around the world, and Obama, by pro-fossil fuel trade policies, from TPP to the export of crude oil from the U.S.
The only presidential candidate even discussing the issue honestly is Jill Stein:
https://shadowproof.com/2016/08/29/washington-post-editors-caricatured-jill-stein-fairy-tale-presidential-candidate/
Another factor in the Dakota Pipeline story should be mentioned here – Warren Buffet’s investment in the project. Prior to the pipeline, Buffet-owned rail company BNSF was hauling most of the Bakken crude to refineries – but this has been a problem:
Source: Warren Buffett Bought Stake in Pipeline Company on Same Day as North Dakota Oil Train Explosion, By Steve Horn • Thursday, January 2, 2014 – Desmog Blog
That’s a divison of Phillips 66, which in turn is a subsidiary of ConocoPhillips. Warren Buffett was a top investor in ConocoPhillips tar sands projects and has said he’d have approved the Keystone Pipeline. To the point, Phillips 66 is a partner with Energy Transfer Partners in the Dakota Pipeline:
Warren Buffet is of course one of Hillary Clinton’s top campaign supporters and financiers, similar in scale to Haim Saban. What this means is that Clinton’s “commitment to renewable energy” and “concern about climate change” is just a lot of doublespeak; her handlers will be telling her what to do, and that means fracking and drilling. Interestingly, Warren Buffett also was a main contributor and backer of Sarah Palin as governor of Alaska, and pushed for the gas pipeline to the tar sands. Yes, he’s just as invested in fossil fuels as the Koch Brothers are, but he’s better at managing the press, and takes a highly bipartisan approach.
Warren Buffett, the Wizard of Oz – “Pay no attention to the man behind the curtain!”
I have to tell you though, that Trump’s plan to go back to coal is basically utter nonsense; Wall Street has abandoned coal as unprofitable, and recent decisions by western U.S. states to ban coal export terminals in ports from Washington to California have solidified that decision.
http://www.cnbc.com/2016/08/26/the-associated-press-california-governor-signs-bill-banning-coal-export-funding.html
Coal is deader than dead, the modern equivalent of camel dung for heating or whale oil for lighting.
imo, Trump will do both. If coal is a monetary loser, he would allow the business to “burn off” but i believe he would not let the miners suffer – he would come up with something.
His ego is a 2 sided coin. The flip side is that he would not want a tarnished reputation and that is actually what will work “for” America. People dont see that. But imo, he wants to do right by others. People think he shoots from the hip, no. He fires off starting points. He’s a brainstormer. People dont see that. He’s a problem tackler. I have a sense about him because i was in the same business as him, i knew people that worked with him, i made deals like he did, i tackled tough deals and negotiated stuff. But his game was much bigger than mine.
Hillary is a different breed of character. Smart, sense of humor, very sociable, but ambitious where it doesnt fit her situation. She values her ambition more than her morals. imo, she values her backers more that the will of the American people.
Tonite PBS reported saying that Donald’s and Hillary’s foreign trade positions were not that far apart (cough). Then they said that Donald was a big number for having products made overseas without also declaring that congress designed the playpen in which sellers had to compete. That’s below the belt. Then, for the whip cream topping, the PBS guy brought up the TPP to Sherrod Brown who insisted that Hillary had done a 180 on that only to be challenged about trusting that having switched positions that she would do it again to which Sherrod repllied, after an awkward pause, “Well i trust hillary clinton”…. and for the cherry on that, Hellary’s real 180 says Sherrod was now just an admission that the TPP needs fixing.
Thanks for the feedback and link. Always good to hear from you.
In the end, perhaps the real solution may be a Malthusian one = fewer people. Maybe too, zika (or similar) is the planet attempting to balance the equation itself?
To your comment: I heard Geraldo on the Five mention how it was utterly absurd that DJT has the idea that the US is gonna make steel and use coal for energy and steel… his very next sentence was: we need to focus on infrastructure. Which is great but where do you get the steel and energy to do that? And, where do we get the the sand for the concrete. Yikes!
This really all leads back to fewer people and those people that are left abandoning technology.
I believe, reportedly, this has happened in history before. Believe it was an aboriginal group that had tech, dropped it, and vanished from the land.
With the wars going on though, I wouldn’t be on a peaceful abandonment of anything regarding tech or mfg. War is another Malthusian soln.
OT…
GOOD FUCKING NEWS…
http://www.jpost.com/International/Israeli-satellite-explodes-on-rocket-in-Cape-Canaveral-466629
YEEEEEEEEESSSSSSSSSSSS….
FUCK ISRAEL…
https://www.youtube.com/watch?v=U1g7yFqBcwI
BURN BABY BURN
Oh come on, rockets are cool and this was a huge waste of resources. Plus, these launches are insured, so this won’t cost this Israeli company anything, just a time delay.
http://www.cnbc.com/2016/09/01/when-a-rocket-blows-up-space-insurers-pay-for-it.html
Don’t be such a tool.
And by the way, the entrepreneur behind SpaceX is also one of the biggest promoters of the fossil fuel-to-renewable energy transition, so your comment is doubly stupid:
https://cleantechnica.com/2016/08/31/elon-musk-yep-weve-ordered-extreme-disaster-must-go-war-get-asses-mars/
Just sayin…
Keep your shpiel to yourself eh?
At least post on-topic in stories about Israel. And, as I note, this cost the Israelis nothing at all, due to insurance, even if you want to cheer about a rocket blowing up. Go educate yourself, in other words.
Things like this really point to why I often can’t stand the left any more than I can the right. Mindless blather about Israel, while ignoring Saudi Arabia and the bankers and fossil fuel interests that tie the U.S., Israel and Saudi Arabia together; promotion of Venezuela’s left-wing party when they’re just as deeply in bed with fossil fuel interests as the right-wing party is. I mean, you’ve got people like Winona Laduke claiming that we should be buying oil from Venezuela (to prop up Chavez’s party) rather than building Bakken pipelines – wrong! We should be building electric cars, solar and wind arrays, is what we should be doing. Screw Venezuela’s left if they won’t get off fossil fuels.
This is so common on the left. The whole Warren Buffet story is another example – he’s a huge fossil fuel investor, probably at a larger scale than the Koch Brothers – is a good example, but since he tends to be non-partisan, unlike the socially conservative far-right Kochs, he’s ignored. I mean, come on, look at the bigger picture here.
ain’t free speech great!
The Clash: Know Your Rights
Number three
You have the right to free
Speech as long as you’re not
Dumb enough to actually try it.
By which, I mean that this country is full of people terrified to point out the basic realities staring them in the face because they’d lose their jobs in media, academics, government or the corporate business world if they did utilize their “free speech rights” – as well as become subjects of state surveillance by the FBI and related government agencies as “potential subversive threats”.
Well, I guess I’m not one of those terrified folks. Don’t have anything to lose. And as far as “surveillance”…that is why I was happy about the Israeli Satellite blowing up! Good news for a person once in awhile just keeps depressing sh*t from taking over. (But that’s just me.) Have a nice day…
Given that you seem mind-boggling ignorant of basic facts, well, that means you’re not a threat to the status quo. In fact, this satellite might have increased Internet access for many people in Africa, which, gosh, the neoliberal neocolonialists might not have wanted, right? Consider how dictatorial regimes limit Internet access – you think people in Africa posting video of say, U.S. military actions on behalf of international corporations, is something Wall Street would like?
We can flip it on its head, can’t we? It was the neoliberal empire-builders who blew up the satellite! And you’re their PR agent! Q.E.D.
;)
give a rest…I just don’t swallow most propaganda. Stop trolling me…
Say…did you learn about the NLG helping the Native Tribes against the Dakota Access pipeline? Would be nice if some of these long winded TI comment activist/lawyers jumped on that one. You know…like do something besides ad hom attacks on commenters. Do you actually believe that these carpetbaggers are suddenly concerned about Africans having Internet (Facebook) access? MSM is happy with you… ;)
The thing about the Internet, as our little conversation demonstrates, is that it is hard to control; hence authoritarian types dislike it – but they still want to profit off it – but it must be politically controlled – except it’s really hard to politically control. For example, I bet China spends incredible amounts of money on Internet monitoring – but without it, they’d be like North Korea.
As far as trolling, get yourself a billy goat, and they will no longer trouble you. Trolls can’t stand billy goats.
Well, Sparrow does seem a bit gruff. <3
[“In fact, this satellite might have increased Internet access for many people in Africa, which, gosh, the neoliberal neocolonialists might not have wanted, right?”]
Well, if you believe that it was part of Facebook for Africa as a good thing…seems I read an article or two about NSA spying on pretty much all of the internet. Again, maybe it was those ignorant journalists who wrote them.
[“Given that you seem mind-boggling ignorant of basic facts, well, that means you’re not a threat to the status quo.”]
;)
[“I mean, you’ve got people like Winona Laduke claiming that we should be buying oil from Venezuela (to prop up Chavez’s party) rather than building Bakken pipelines – wrong! “]
Gotta link to that?
Google [ Winona Laduke Dakota pipeline Venezuela ]
And also see this:
http://www.honorearth.org/a_song_for_hugo_chavez
I’m sure she means well, but come on, that’s not the solution. Fossil fuel addiction is fossil fuel addiction, regardless of whether a left-wing populist or a right-wing elitist is the provider.
[“We should be building electric cars, solar and wind arrays, is what we should be doing.”]
Well hell…I think you otta go slap a few people around so they’ll hear you! Maybe if you call them dumb they will get their sh*t together…and suddenly get morals. God damn that’s a good idea.
You ought to get your facts straight before you post. http://www.nytimes.com/2016/09/02/science/spacex-rocket-explosion.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region®ion=top-news&WT.nav=top-news&_r=0
according to which the owner of the satellite is Facebook, and the mission was to provide internet access to remote areas in Africa. It happens that the satellite was built by an Israeli company; now they will get money to build another.
So what exactly are you cheering about?
Facebook…oh if you want to believe that…sup to you. I don’t need to explain to you for having cheered the happy news…you’re just trollin’ I spose. Anytime anything of an Israeli company burns gets me cheering…bds is a good thing! But hey I guess being off topic like most others can get here is just normal.
Back to the pipeline….whatcha going to do about it?
i for one absolutely do not believe it.
i would bet it is a LASER WEAPON of some sort.
i trust israel as far as i can throw it.
We Samitans Snared.
no.
he is a pirate.
a greedy and selfish one at that.
he suffers from grandiose delusions of planetary domination, master of the universe syndrome.
he is a mental defect, smart, clever, but a defect nonetheless – maybe he too has ASSBURGER SYNDROME.
– that is my fromafar guess based on the context of all things.
call me stupid – but today is the openv of such psychos to bubble to the top
Coming from you, I take it all as complementary.
Complimentary.
Imagine local/regional production, distribution, consumption. why must it be a global supply transportation system? other than to sustain and unsustainable survival model.
Was that an offer? Wanna spoon?
I have often wondered if people who use personality management software, etc, need to create all new legends when their handles get burned. I have heard it is usually, what, 3-5 a person? It sounds grueling. It would be horrible to have to deal with that, I bet.
an israeli satellite!?
wtf!
HOLD ON A MINUTE….
EXPLODE ON A NASA LAUCHPAD?
EXPLODED?
I beg to differ about ……. COMM SATELLITE?
i dont think so.
1. these spacex criminal privateers are using our American public resources
2. comm sat? I BELIEVE THAT IS A LIE
because of the explosion, i believe that must be nitrogen in the satellite used for cooling a laser.
wake up.
with a topical storm/hurricane on the way….Hermine
Nitrogen? Nitrogen is not explosive. The actual cause of the explosion is unknown at the moment, but happened while Oxygen was being loaded.
Also, it was a communications satellite, built for Facebook, to be used to provide internet access to remote areas in Africa.
Also, private companies pay the US Government for the use of Government launch facilities. That actually benefits the taxpayers.
Well, it’s nitrogen in the hydrazine form, N2H4, that’s SpaceX rocket fuel. Still to be regretted, not cheered, though.
http://www.theregister.co.uk/2016/09/01/spacex_rocket_suffers_anomaly/
launch pad b.d.s.
woo hoo!!!!
https://www.youtube.com/watch?v=_BgJEXQkjNQ
Check this one out…SpaceX – Static Fire Anomaly – AMOS-6 – 09-01-2016
Off topic but I had been meaning to ask, are you a fan of ancient classical literature by any chance?
“But at least a portion of the oil may well end up as exports to foreign markets, either as crude or as a refined product.”
This has been a known possibility since 2014. Why does this article imply this is something we are just now learning?
It’s called investigative journalism, you silly little boy. Did you really know that Rick Perry of Texas joined Energy Transfer Partners, or that ETP lobbied for the lifting of the crude oil export ban? I didn’t, and I follow energy news fairly closely.
I did know that Warren Buffet was pushing it through his investment in ETP partner Phillips66, but I assumed that was mainly to supply his refinery operations.
http://money.cnn.com/2016/02/05/investing/warren-buffett-oil-bet/
Warren Buffett must hate Native Americans; they’ve interfered with his profits repeatedly. For example, Berkshire-Hathaway owns the major NW electrical utility, PacificCorp, which has fought dam removal – Native Americans pushed for dam removal to restore salmon runs. And of course, Native American protests played a role in blocking tar sands exports – Warren Buffett lost billions on the tar sands flop in 2008 via his ConocoPhillips investments (He’d predicted oil would surge up to $200/barrel).
Now, Berkshire’s PacificCorp is trying to import coal-fired electricity into the California electricity market. Who supplies the PacificCorp coal-burning power plants with coal? You guessed it, BNSF coal trains, also owned by Berkshire. What a fossil fuel merry-go-round, right?
Buffet’s other utilites, like NV Energy (Nevada) and Rocky Mountain Power (Utah) are working under a Berkshire plan to scrap net metering for solar energy producers (because it cuts into his profits):
I mean, I know the left likes to go after Koch Brothers and friends (who are also rabid social conservatives) – Buffett in contrast is non-ideological, he’s just about the cash flow and will back anyone from Sarah Palin to Hillary Clinton as long as they work for him in the government. So now he’s into the export oil business, too. Interesting, isn’t it?
Anyone really still believe Hillary Clinton is going to be pro-renewable energy, with Buffett holding her leash?
No.
I like many of your comments.
I know Buffett’s contributions are non-ideological. Where did you learn about the direct Buffett – Palin link?
I tried and failed to find one story, but my searches are often fallible.
Your reply did not answer my question. You merely took the opportunity to call me a little boy and go off on a rant for a bit. Your logic needs some work brother.
photo was merely painting the far left and far right with the pigments of hellary and sarah. i am eternally grateful for photo’s invaluable resources and contibutions to TI board. i value your comments as well, from time to time.
http://journalrecord.com/2016/08/26/terry-oklahoma-benefits-from-oil-exports-opinion/
“That dynamic resulted in a decrease in the price for American crude oil versus worldwide oil prices. After historically trading at a premium to crude oil produced in other parts of the world, a barrel of American crude oil was sold at a discount and disadvantage. The price difference between American benchmark crude West Texas Intermediate and the worldwide benchmark of Brent reached a high of more than $25 and last year averaged approximately $10.
Since the elimination of the crude oil export ban, American crude oil has averaged just 31 cents below worldwide oil prices. While $10 doesn’t seem like much, the elimination of the price differential will have a significant impact on Oklahoma crude oil producers, their employers and the state as a whole.”
To be clear, Americans basically have no right to American oil. No right to tax it for anything much, no right to keep it cheap in the U.S., no right to do anything but play in it once it slicks up on the beach.
Correction – I was wrong. How quickly I forgot the Gulf oil spill. It’s still illegal to play with it on the beach, lest one be tempted to try to do scientific research about it, or to post unflattering pictures. Sorry for the hyperbole.
Markets don’t lie, marketing and political campaigns do. Based on that, the marketing campaign by the company to sell voters/constituents/politicians on the approval by stating
is a lie.
Of course they’ll sell it where it can be sold. The U.S. economy is sucking, so who needs to buy all that stockpiled energy anyway here?
“10-k, filed with the Securities and Exchange Commission”
@Lee Fang,
Public filings are a good source of information. You can find all a public company’s public filings at http://www.sec.gov.
Great article, as always. I noticed a type in the 6th paragraph. “..evidence the oil with go abroad.”
Just wanted to point that out. Huge fan of your work, Lee.
Yes, this is great investigative journalism.
How about fraud?