Author: Jim Ulvog

Another major oil play to keep an eye on: The Wyoming-Colorado-Oklahoma-Utah-New-Mexico “field”

Okay, I’m using a very loose definition of field. But check out the following graph of combined oil production from those five states. We’re talking production level of super-giant fields.

oilstates-CarpeDiem

Graph is from Carpe Diem, Shale prosperity spreads to Wyoming, Colorado, Oklahoma, Utah, N. Mexico: Combined oil production up 56% in 3 years. Graph is used with permission of Carpe Diem.

Prof. Mark Perry calculates combined production increased Continue reading “Another major oil play to keep an eye on: The Wyoming-Colorado-Oklahoma-Utah-New-Mexico “field””

More good stuff on the open frontiers — space, education, publishing- 1-20-14

New frontiers are wide open. Here is my latest list of articles on education (articles), publishing (1) and space (3 articles) that help me sort out the massive change around us:

Education

As I turn my near-sighted, feeble gaze across history, I see education as one of several major factors that lift people groups out of the grinding dust of poverty. That is why I see the revolution in education as a wonderful thing.

1-3 – Via Meadia – Winds of Change Still Blowing Through Groves of Academe – Continue reading “More good stuff on the open frontiers — space, education, publishing- 1-20-14”

Series of posts about solar farms

I’ve spent a large portion of the day researching and writing about solar farms. Been going through a backlog of articles saved over the last few months.

Monday Tuesday will be the start of a series. Currently have 6 posts written. (update – make that 9 posts with a couple of articles saved for future posts.)  Plan to accumulate them in a page like the Peak Oil series.

You will soon see why I have already started calling solar farms wing-toasters.  You might say I’m not amused.

Stay tuned.

“Audit. Review. Compilation. What’s the difference?” – New book now available.

Audit. Review. Compilation. What’s the difference? – Illustrations using a football game, buying a used car, and filling a bucket.

audit-cover

What’s the difference between getting an audit, review, or compilation from your CPA firm? This short, 29 page book will help you understand.

Three illustrations help explain the differences: Continue reading ““Audit. Review. Compilation. What’s the difference?” – New book now available.”

More good stuff on the open frontiers, energy edition – 1-16-14

Amazing things going on around us. Here is my latest list of a few articles about energy that help me make sense of the radical change taking place. Tomorrow, tidbits of the other newly open frontiers.

Energy

1-6 – CNS News – Saudi Billionaire Prince:  Fracking Competitively Threatens ‘Any Oil Producing Country in the World’ – Prince Alwaleed Bin Talal is pushing the Saudi government to diversify the country’s economy. Currently 92% of government revenue is derived from oil, he says. The rapid expansion in output caused by combining horizontal drilling with staged hydraulic fracturing presents a serious threat to any country that is reliant on oil. Big news. Bigger issue.

A delightful “problem” to have – 1-7 – Bismarck Tribune from the New York Times – Oil glut stirs up political brew – The surging production of crude is opening a discussion of whether to allow more exports of crude. Seems we have so much unrefined light, sweet crude we don’t know what to do with it all.  As a result, the politicians are getting involved. I wish we as a country and planet had another half-dozen “problems” like this.

(By the way, what Peak Oil?)

More downside to the Bakken boom – 1-10 – The Dickinson Press – Criminal defendants in fed court up 31 percent in western N.D. in 2013 – Continue reading “More good stuff on the open frontiers, energy edition – 1-16-14”

North Dakota oil production hits another record, approaching 1 million barrels per day

Oil production in the state hit 973,280 barrels a day, up from revised 945K bopd in October.

With increases in production typical over the last six months, the million point could be passed in December or January. However, the rough winter will probably slow the production amount for a few months. More likely it will be February or March before passing 1M bopd.

Value of the production

Production for the month was 29,198,385 barrels. The Director’s Cut says sweet crude prices were $71.42 for the month.  That means the value of oil produced was about $2.085 billion. With a higher price of $85.16 in October, the value of oil extracted was $2.5 billion. The higher price and extra day of production made October higher.

Two billion a month. Very cool.

Graphs

Here’s a few of my graphs:

Average production by month for the whole state and for just the Bakken and Three Forks wells. Continue reading “North Dakota oil production hits another record, approaching 1 million barrels per day”

How to make wind farms a worse idea – put them offshore

The Economist points out the astounding costs of building wind farms in the ocean – Rueing the waves – Britain is a world leader at something rather dubious.

England has over 1,000 turbines offshore. It gets more electricity from offshore than all other countries put together, according to the article.

By 2020, just seven years from now, the country is committed to generating 30% of all electricity from ‘renewable’ sources. Oh, nuclear doesn’t count in the calculation. Currently Britain is at 13% according to the article.

The cost of offshore turbines is staggering.

Continue reading “How to make wind farms a worse idea – put them offshore”

If you are still scratching your head over the recovery, here’s a graph to explain why

The recession ended way back in 2009. Sitting here in California is doesn’t feel like it is over.

Check out the graph at Carpe Diem for a visual explaining my confusion:  The current state of the US Economy explained in one chart.

Compared to the peak at the start of the recession, GDP has now increased about 5.6% and employment is down about 1.4%.  GDP is at record high with less jobs that the start of the recession.

Continue reading “If you are still scratching your head over the recovery, here’s a graph to explain why”

Great prediction from 1974 – one day a computer with the capacity of this mainframe will fit on your desk and you won’t be tied to the office where the mainframe is located

Check out these amazingly correct predictions in 1974 from a balding, gray-haired prophet. Check out the sideburns of the reporter:

[youtube=http://www.youtube.com/watch?feature=player_embedded&v=sTdWQAKzESA]

First computer I worked with in high school was about 4 feet tall, 8 feet long, and about 4 or 5 feet deep. The printer was about 5 feet tall, 5 feet wide, and 3 feet deep. 

Continue reading “Great prediction from 1974 – one day a computer with the capacity of this mainframe will fit on your desk and you won’t be tied to the office where the mainframe is located”

More good stuff on surveillance – 1-7-14

Here is my ninth list of good stuff on our surveillance society that I’d like talk about but only have time to recommend with a quick comment.

1-3 – The Atlantic – How the NSA Threatens National Security – Bruce Schneier points out the extreme level of compromised systems caused by the NSA spying fiasco is a serious threat to national security.

It is also breaking systems that we have spent decades building in America. It is breaking us financially and diplomatically. It is tearing down our political, legal, commercial, and technical systems. It is destroying trust in government, tech companies, and the internet itself.

As for the potential for abuse, here’s an experiment for you.

Continue reading “More good stuff on surveillance – 1-7-14”

3 background articles on the energy revolution – – Energy boom may expand into Mexico, What energy crisis?, and Bakken in graphs

Bloomberg – North America to Drown in Oil as Mexico Ends Monopoly 

Potentially another game changer for world-wide energy – – the Mexican legislature has changed national law to allow foreign investors to own oil reserves. This will draw the major oil companies with their talent, equipment, funding, and infrastructure. Speculation is oil production from Mexico could double in a decade. 

Still some major obstacles, but the potential is huge. The Mexican government and her people could benefit tremendously. I really hope they handle this well, for their good and the good of everyone who uses energy.

Newsday – Remember the energy crisis? Fracking fixed it.

Notice that the constant stories of the “energy crisis” isn’t in the news anymore. If you were around in the ‘70s you remember long lines to buy gas on your assigned even or odd day. Crisis stories continued for years, through the entire Carter administration and beyond.

Continue reading “3 background articles on the energy revolution – – Energy boom may expand into Mexico, What energy crisis?, and Bakken in graphs”

The education bubble and a few ideas to address it

Glenn Reynolds has an essay based on his new book.  See today’s Wall Street Journal – Degrees of Value: Making College Pay Off.  It’s the feature article in the Review section.

The full length book is at Amazon: The New School: How the Information Age Will Save American Education from Itself. I’ll be waiting for the Kindle edition, available next week.

Merely one tidbit from the article to illustrate the problem and one idea for transforming eduction to reduce the cost and retain the experience.

Continue reading “The education bubble and a few ideas to address it”

Hiring in North Dakota to pick up – “blitz” in ‘14

OLYMPUS DIGITAL CAMERA

Lots of production companies around Bakken are going to expand hiring in ’14. Bismarck Tribune reports Oil service companies on hiring blitz.

The rapidly increasing number of wells is creating permanent jobs to service the wells. Each well requires attention. I’ve read elsewhere that each well creates the need for one full-time position. That would be about 8,000 permanent jobs for the existing wells, with 2,000 new positions a year.

Two key comments, for me at least: Continue reading “Hiring in North Dakota to pick up – “blitz” in ‘14”

Where is the inflation?

It’s hiding. It is taking place outside those things measured by the CPI.

There’s not any inflation in the CPI. The annual inflation rate for the preceding 12 months was 1.2% in November ’13.  Notice something odd in the monthly inflation rates from January through November?  0.0%, 0.7%, (0.2%), (0.4%), 0.1%, 0.5%, 0.2%, 0.1%, 0.2%, (0.1%), 0.0%.

Three things jump out. First, three months had a decrease. Second, only one month had a large increase and it was followed by two declines. Third, the numbers are really small.

The ever-expanding Fed balance sheet

I’ve been scratching my head for years about the really low inflation shown in the CPI measurements. Why the head scratching?

Check out the ongoing explosion in the Fed’s balance sheet. Continue reading “Where is the inflation?”