Tag Archives: north dakota

Business/Economics, International, U.S.

Oil & Gas Prices: Canadian economy getting punched hard because they’ve pumped out too much oil

“If you don’t think this is a big issue, think again!”-Andrew Potter, CIBC World Markets

Canada has pumped out so much oil, that it’s losing money.  Plus it has to compete with the flood of oil coming out of North Dakota. The result is that Canadian heavy and light oil is now selling for about $10 to $30 under what U.S. West Texas Crude is selling for.

“…we actually have a contraction because there’s just too much of the stuff.”– Peter Tertzakian, ARC Financial Corporation

What it means is that energy industry companies are going to lose Canadian$18 billion every year until at least 2013!  Canadian provinces will lose tax revenues of  Canadian$5 million per day!

“That hurts…doesn’t include corporate taxes, which will get affected, too.”-Jack Mintz, University of Calgary School of Public Policy

Canadian oil analysts are hoping their situation stabilizes by 2013/2014. But it will be painful, one analysts said cash flow for the energy industry will drop at least 20% in 2012.

International, Technology, U.S.

World War 3 & United Police States of America: Farming Family in North Dakota first in the U.S. to be arrested after being hunted down by Predator UAV. It happened months ago. U.S. Congresswoman resigns, warns the U.S. is becoming NAZI-land

“…in many areas around the country, not only for federal operators, but also for state and local law enforcement and emergency responders in times of crisis.”-Michael C. Kostelnik, retired Air Force general who heads the office that supervises the use of UAVs

It has been revealed that police in North Dakota have been using Predator UAVs since June 2011.  Now three men, who are accused of threatening a sheriff’s life, have become the first U.S. arrest victims of the drone.

It’s already been reported that the FBI and Border Patrol are using drones, but now local police!  Law enforcement officials in North Dakota admit they use them at least twice per month.

The men, supposedly from the same family, that were arrested are suspected of stealing cows.  The Nelson County Sheriff says his life was threatened by the family when he went on their property looking for the cows.  The sheriff responded by calling in an army of police and a Predator drone based at Grand Forks air base (the UAV officially being used by the Border Patrol).

It’s now December 12, the event is just now being reported in the U.S. media. It took place at the end of June!  I wonder if the family has also been accused of being terrorists.  Sure seems like a lot of taxpayer money was spent to arrest suspected cattle rustlers.

The use of UAVs against U.S. citizens caused one member of Congress to resign back in February.  Jane Harman, of California, who sat on the House Homeland Security Intelligence subcommittee from 2007 until she resigned, said no one ever discussed using Predators to help local police.

She also gave a dire warning: “There is no question that this could become something that people will regret.”

Harman’s father is a survivor of the NAZI concentration camps in World War 2.  Harman should know from her father’s first hand accounts what NAZI-land looks like!

Business/Economics, U.S.

North Dakota: Proof that fast oil money destroys Society, can you say Hyper Inflation?

“At first, we were excited about the prospect of bringing in new people and money … but it slammed us so hard, in such a little time that a lot of locals now are kind of resentful. Now we want our town back.”-Deone Lawlar, a 57 year old native of Watford City

North Dakota is viewed as an economic bright spot in the U.S. economy,  because oil companies have recently opened up their capped oil wells, and are pumping like mad.  At first the natives welcomed the money, but not anymore.  With the oil boom not only does fast money come in, but so do hundreds of thousands of job seekers, and North Dakota just isn’t ready.

The result is hyper inflation.  It’s hitting hard right now in the housing sector, specifically rents.  According to CNN: “One bedroom apartments can run around $1,500 a month, while two to three bedroom apartments are often around $3,000.” (Holy crap, I used to live there, and I thought about moving back?)

“People are getting greedy, and we’re losing people who have lived here their whole lives.  It’s hard to make ends meet, especially with two little kids.  How does a nursing home keep up with the oil fields?”-Kristen Pallacheck, Bethel Lutheran Nursing Home, Williston (I used to live in Williston and I can tell you the town was first destroyed by the super WalMart, now after recovering it’s being done in by hyper inflation no thanks to the oil boom)

The oil industry is also destroying the infrastructure; thousands of big rigs and heavy equipment are tearing up roads that were not designed for such loads: “I drive 15 miles to work everyday with my two children and we have about at least two to three near car accidents a week.  The traffic is horrible and our road infrastructure was not ready for the hundreds of oil field trucks that tear it up.  This week alone, there were four semi truck accidents in four days.”-Michelle Falcon-Nelson, who lives in Williston

According to the Williston Police Department, accidents jumped 30%, and traffic misdemeanors increased 30% from last year.  Also, theft, violence, abduction, sex crimes, domestic abuse, has tripled, with 16,495 reports of criminal activities in Williston last year.  This doesn’t sound like the Williston I lived in, back in the middle of the 1970s!  Even with the boom in jobs, and crime, the Williston Police Department still has only 22 officers!

Speaking of the super WalMart that destroyed Williston back in the 1990s, job seekers have turned the parking lot into a campground.  In the CNNMoney video many of those working are making as much as $25.00 per hour, but because there just isn’t enough homes, or apartments, they’re still living in their cars and trucks.  One man said it wasn’t worth it and was leaving.

The oil boom isn’t helping old timers keep their homes either: “I was talking to myself this morning, and I thought, ‘How am I gonna’ feel when I have to shut this door? I sold my house and have to be out by the first of November, and how is it gonna’ feel to walk out of that door?'”-Wanda Goetz, lived in Williston for 61 years

Many wish the oil boom never came: “While the majority of us appreciate the additional revenue the energy industry brings to our community, the problem for a lot of us is that it’s not just our community anymore. We liked it better when it was ‘the middle of nowhere’.”-David Rolfson, lifelong Watford City resident

 

 

Business/Economics, Idaho, U.S.

What Economic Recovery? East Idaho Salvation Army declares “food crisis”, 20% of Idaho kids going hungry as Idaho politicians slash and burn social services

“We’ve had an increase in requests for that type of service, and so our food supply is dwindling rapidly.”-Brenda Ames, Pocatello Salvation Army

A recent survey by Feeding America revealed that the economic situation in Idaho is much worse than elected leaders claim.  At least 20% of Idaho kids do not know where their next meal is coming from.

“Children are aware that the parents are struggling to feed them. They don’t know if there is enough in the house for breakfast, enough food for dinner.”-Joye Jones, Idaho Food Bank Pocatello Branch

The problem is made worse by the facts that because more people are making less money, donations to food banks are down, and, the state of Idaho has been cutting federally funded social programs.

The state with the least food insecurity is also the state with the best economy; North Dakota with less than 12% of kids going hungry.

 

Business/Economics, Idaho, U.S.

If you want a good credit rating, don’t live in Idaho. Where you live now affects your credit score

Credit scoring companies are getting so nit picky that now they judge you based on where you live.

CardRatings.com now considers the state you live in as part of your credit score.  One of the states that can make your rating go down is Idaho.  Curtis Arnold, founder of CardRatings.com, says Idaho scores low because of high unemployment and high bankruptcy/foreclosure rates.

A low credit score for your state doesn’t just affect your rating, but the credit ratings of your local banks.  This makes it harder for local financial institutions to get major loans from national banks, which in turn makes it harder for them to issue local loans.

Which state can make your credit score go up the most?  Oil rich North Dakota.

Technology

Your next hamburger may come from a petri dish

In small labs in South Carolina, and North Dakota, biologists are trying to grow meat in petri dishes.

Researchers working in South Carolina, had been working on a NASA grant, because of the potential for use in long space voyages.  Remember the Star Trek food synthesizers?  They’ve just gotten a new grant from PETA (yes, no more harming animals in the name of our survival).

So far they can take embryonic muscle cells called myoblasts, which turn into muscle, from turkey, bath them in a bovine serum and then grow animal muscle tissue.

In North Dakota a researcher has grown myoblast cells from chicken, turkey, lamb, pig and cow.

The race to grow meat in laboratories is a world wide effort.  U.S. researchers are now competing against Europeans for more funding, which has become harder to find.

 

Business/Economics, International, U.S.

North Dakota flooded, Red River flooding Canada, called “unprecedented”, will affect wheat production

The Red River has flooded North Dakota, now flooding in Manitoba, Canada is being called “unprecedented”.

Emergency Measures Minister, Steve Ashton, says this is one of the worst flood situations Manitoba has seen in 150 years.  The flood is expected to hit Winnipeg by the first of May.

“Flood fighters” in North Dakota are still dealing with the flooding.  Officials there say it’s being caused by ground that is too saturated to handle the snowmelt, along with rain.   The flooding will affect U.S. spring wheat production, and sugar beat production.

In Canada, the flooding will affect wheat and canola production.

It’s not just the Red River that’s flooding.  About 100 North Dakota National Guard personnel are working to shore up the levee along the Sheyenne River.

Flooding in Canada also damaged rail lines used by the Canadian Pacific railways.