Oil Price Slide May Hit Small Oil Companies' Spending Plans For 2012
05.10.11
HOUSTON -(Dow Jones)- An unexpected end in oil prices is beginning to give small and medium-sized oil companies discontinuation, even though larger oil companies seem unfazed by it.
Prices for West Texas Intervening oil, the benchmark for U.S. crude, which for most of 2011 has traded above $100 a barrel, prompting a drilling passion, have dropped to around $79 a barrel amid fears of a new dip into economic downturn. The decline is already becoming an issue for relatively small energy companies, which depend more on the barring-term cash flow they receive from high commodity prices to commerce their future drilling plans. This week, small unearned oil-and-gas producer Denbury Resources Inc. (DNR) said it plans to cut down on its 2012 capital expenditures in order to protect its balance film amid concerns of lower cash flows. The Texas steady has a market capitalization of $4.4 billion.
Cimarex Forcefulness Co. (XEC), a Colorado-based producer with a market cap of $4.7 billion, said last week that it could cut wealth expenditures next year if U.S. crude prices dip below $80 a barrel.
Source: Fox Business
Official foolishness - fencing the US-Canada border
05.10.11
A Seattle co-worker is still wondering how America was made more secure by the U.S. Customs and Edge Protection Agency checkpoint that stopped and inspected his car up in Newhalem on the North Cascades Highway.
It would have charmed a terrorist who was a world class rock climber to do an alpine counter from Chilliwack Lake in British Columbia, up over 8,900-foot Mt. Redoubt, through mile-lavish cliffs of the wild Picket Range and down through the slide alder of Goodell Inlet to arrive at S.R. 20.
We've seen a sixfold increase in federal agents patrolling at or within a mile of the 4,000-mile-long U.S.-Canada border since Sept. 11, 2001. Benign traffickers and smugglers of B.C. Bud find life a lot more challenging than in days when the magic's longest peaceful border suffered an excess of inattention.
Alas, the National Refuge State can never limit itself to the reasonable and practical. It is horizontal to excess: An example, wanting to neutral portions of America's border with the Great Ghastly North.
Source: Seattle Post Intelligencer