Gualalupe Pass Drilling Rig
Saudi Arabia’s attack… When Saudi Arabia launched a global oil-price war last year, many assumed that America’s high-cost shale producers would be the first to retreat.
Introduction…The U.S. Department of Energy (DOE) is trying to move the market to solar, green energy.
Department of Energy’s intentions…DOE is setting aside $32 million to promote new jobs in research in the effort to accelerate the transition to cleaner energy. Part of the money, $12 million, wil be to train other professionals in related fields such as real estate, insurance, finance, and fire and safety.
Currently, there are more jobs in installing solar panels than jobs in the coal industry. But, the abundance of cheap natural gas as a result of Fracking has reduced the demand for coal, not solar energy.
The Government’s solar track record…Our taxpayer $500 million support of the now bankrupt California startup Solundra embarrassed the Obama administration. We all want clean energy. But, the problem with solar is that the sun does not shine 24 hours a day and you can’t store electricity. So, we always need a second energy source, greatly increasing the consumers’ cost of energy.
In conclusion…It seems to me that the DOE has not produced one barrel of oil or one kilowatt of electricty. Maybe they should stick to regulations.
Bill Moist is President & Founder of Professional Equities, Inc., a funder of real estate; oil and gas; business projects; and trains others to take advantage of Crowdfunding. Mr. Moist is professional lecturer at , Graduate Business Schools and professional organizations. In addition, he is Texas Real Estate Broker, Certified Public Account (ret), Master of Science real estate tax expert, and Investor/Developer with 70+ successful projects. He can be reached on LinkedIn, billmoist.com, and billmoist.ws
Sources: “U.S. Energy Department To Invest $32 Million In Solar Jobs,” OilPrice by Andy Tully, May 28, 2015
There is also another Russian element to this: PPT has been very successfully employed in Russian injector wells. This is perhaps the most significant aspect to consider. Russia does not have draconian fracking regulations pressuring companies to use environmentally friendly technology. Instead, they are using PPT to improve enhanced oil recovery (EOR) and reduce production costs.
Where Is Abramovich Going With This Investment?… This will not merely be a $15 million investment,” said one source close to the deal. “You have to read between the lines here. Abramovich doesn’t do anything small. He’ll get the infrastructure in place and then look to acquire a significant position in the US oil sector at today’s fire sale prices. We’ll probably be looking at hundreds of millions in investment at the end of the day.”