Posts Tagged ‘Oil’

Proposed Pipeline Rules A Good Thing

Monday, October 5th, 2015

Pipelines containing potentially hazardous liquid substances are subject to a proposal from the U.S. Transportation Department to implement new requirements for inspections in rural areas and the addition of more thorough leak detection systems and reporting.
There is also a stipulation to include extra work being done concerning inspections and maintenance work after weather related incidents such as … Read More...

Two Bakken Pipeline Projects Approved In North Dakota

Friday, May 15th, 2015

After the Meadowlark Midstream pipeline spill reported January 6, 2015 near Williston that leaked nearly 3 million gallons of brine near Blacktail Creek and contaminated waterways the North Dakota Public Service Commission has approved two separate pipeline projects for them. This was after Meadowlark Midstream provided assurances concerning improvements to leak detection systems along with improving surveillance of … Read More...

Evacuation After Fiery Oil Train Crash In Heimdal, North Dakota

Thursday, May 7th, 2015

No injuries have been reported from the derailment of a BNSF train near Heimdal, North Dakota although nearby residents were evacuated from their homes and were later allowed to return. The Wells County Sheriff’s Office confirmed a BNSF train left the tracks near Heimdal at around 7.30 a.m. and burst into flames after derailing. The fire was … Read More...

(Part 4) High demand for housing and low demand results in steep prices

Saturday, January 24th, 2015

The boom in the oil industry has caused a shortage in housing in North Dakota. The result? In the last few years, home prices have surged. In 2013, homes in North Dakota sold for over $200,000, up from the average price of just over $160,000 in 2011.
It is not just the houses that have become more expensive; … Read More...

(Part 2) Oil Boom= Big Income

Thursday, January 22nd, 2015

An oil field worker can earn as much as $100,000 a year even without a college degree. This level of income is a big deal; as of January 2014, the minimum wage in the United States had been mandated at $7.25 per hour. Some states have legislated slightly higher minimum wages. Even if a worker worked 12 hours … Read More...

Oil Prices – To Hedge Or Not To Hedge

Saturday, January 17th, 2015

The oil industry for the past couple of years was seeing some level of stability in the range of $100 a barrel. The companies that hedged at that price have secured their revenues now that oil has fallen to about $50 a barrel.

Purchasers who hedged would be the real losers, as they felt that they would have … Read More...

Safety Issues On Well Servicing Mechanical Systems

Saturday, January 3rd, 2015

Safety issues are a concern and have to do with mechanical braking systems which is a process of operators performing multiple brake actions for each tube or rod being installed or removed. There is training that is provided for this task but what is really needed is an automated “safety” device.

During the course of the day multiple … Read More...

North Dakota Bosts A 2.8% Unemployment Rate

Monday, December 22nd, 2014

North Dakota is currently the title-holder for the state with the lowest unemployment rate according to an article by the Detroit Free Press. The state has a shale gas revolution, where there are more jobs open than there are applicants.
North Dakota ‘s unemployment rate, currently at 2.8% , is for full employment. Anyone who wants a job … Read More...

Could The Drop In The Price Of Oil Be Due To Political Reasons?

Saturday, December 20th, 2014

Aside from the abundant supply of oil in the market, there are speculations that the oil prices have fallen below the $100 per barrel mark due to political reasons.
There are rumors that in September, the US secretary of state John Kerry struck a deal with King Abdullah of Saudi Arabia to sell crude below the prevailing market … Read More...

Transportation By Rail Accidents Should Lead To New Regulations

Wednesday, December 17th, 2014

No one ever wants disasters to happen but when they do, the best thing that should come out of it would be improved rules and regulations that would prevent future incidents from happening again.

In the case of the Mississauga Miracle, a freight train explosion with zero casualties that happened in 1979, better regulations about the transport of … Read More...