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Thread: North Dakota Oil spills

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    charly

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    Yes. No surprises in a state that is proud for a lack of regulation. Here are local articles.
    http://www.inforum.com/event/article...ublisher_ID/1/ - noting the 300 spills in the past couple years.
    http://www.inforum.com/event/article...ublisher_ID/1/ - noting the recent 20,000 barrel spill that a farmer found.

    I am sure the market will continue to ensure that these do not take place and that taxpayers are not left holding the bag for clean up.....All hale the market.....it has all the answers

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    Quote Originally Posted by Henry V View Post
    Yes. No surprises in a state that is proud for a lack of regulation. Here are local articles.
    http://www.inforum.com/event/article...ublisher_ID/1/ - noting the 300 spills in the past couple years.
    http://www.inforum.com/event/article...ublisher_ID/1/ - noting the recent 20,000 barrel spill that a farmer found.

    I am sure the market will continue to ensure that these do not take place and that taxpayers are not left holding the bag for clean up.....All hale the market.....it has all the answers
    Henry - 20,000 barrels of oil @ $90/barrel does not add up to pocket change - rest assured the market will find a solution. or would you rather the oil be transported on Buffett's trains, he's your friend .
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    Marvin - If they do not seem to care about the $3.2 million in natural gas that they are flaring off every day, why would they care about a little old oil spill?

    Interesting that your accounting only included the cost of oil in the equation. How is the market going to handle the total devaluation of the 10 acres of land, lost of long term productivity, etc? Did the price of oil go up to provide the disincentive to such reckless activities? Has it gone up to account for the external costs associated with the other 299 spills? Seems like the market always forgets about these external costs of production that society get left with. Wish I was in a position to invest in Berkshire Hathaway.

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    Quote Originally Posted by Henry V View Post
    Marvin - If they do not seem to care about the $3.2 million in natural gas that they are flaring off every day, why would they care about a little old oil spill?

    Interesting that your accounting only included the cost of oil in the equation. How is the market going to handle the total devaluation of the 10 acres of land, lost of long term productivity, etc? Did the price of oil go up to provide the disincentive to such reckless activities? Has it gone up to account for the external costs associated with the other 299 spills? Seems like the market always forgets about these external costs of production that society get left with. Wish I was in a position to invest in Berkshire Hathaway.
    Henry - ever been to LA, home of the LaBrea Tar Pits. Hancock Oil left the city of LA lots of property, a museum & some fairly fertile land until they filled it up with houses. Berry Petroleum is the big player thereabouts & I think they are thinking of fracking . I'm more a farmer than an oil person but believe nature has strong healing qualities. It is tough to heal infertile land, which ND has a little bit of.
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    i heard it was not a spill and that since our govenment wouldn't allow construction of a pipeline......they were just gonna ship it south to refineries in a ditch. though i am not a geologist i sometimes wonder, "how can something that came out of the ground be so bad for the ground?"
    john mccallie

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    Quote Originally Posted by roseberry View Post
    i heard it was not a spill and that since our govenment wouldn't allow construction of a pipeline......they were just gonna ship it south to refineries in a ditch. though i am not a geologist i sometimes wonder, "how can something that came out of the ground be so bad for the ground?"

    Genius! Organic Crude Oil!!!!!
    "Character is doing the right thing when nobody is watching"....J.C. Watts

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    Quote Originally Posted by roseberry View Post
    i heard it was not a spill and that since our govenment wouldn't allow construction of a pipeline......they were just gonna ship it south to refineries in a ditch. though i am not a geologist i sometimes wonder, "how can something that came out of the ground be so bad for the ground?"
    Now that is some exceptional, analytical, outside-the-box thinking right there!

    You can prove your theory by planting the fruit, vegetable or native grass of your choice in some soil saturated with crude oil and see how well it grows. Then you can blanch some of it in oily water and let the skeptics see how great the stuff tastes by scarfing it down on Fox news. -Paul
    there's no good reason to fatten up a retriever.

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    Ever wonder how a company can stay in business if the people making the decisions are willing to throw away $3.2 million a day? Of course we are assuming that they have a viable way to capture that NG. I have no experience in the industry (like most here, I suspect), but I find it highly unlikely that the facts would support this allegation. But it makes for a good headline.
    Matt McKenzie

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    Quote Originally Posted by Matt McKenzie View Post
    Ever wonder how a company can stay in business if the people making the decisions are willing to throw away $3.2 million a day? Of course we are assuming that they have a viable way to capture that NG. I have no experience in the industry (like most here, I suspect), but I find it highly unlikely that the facts would support this allegation. But it makes for a good headline.
    the 3.2 million a day is a fact. Look it up. the technology is available to capture most of this and store it on site, but of course that would reduce the Short-term bottom line.

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