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Nevada6077

Shale Oil Schools

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Oil goes up, oil goes down, it's still in the ground. The Law of Unintended Consequences is about tho bite the butt of Iran, though.

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It is probably a surprise to most, but the dropping oil price likely BENEFITS Wyoming.  
 

This is because far and away Wyoming’s biggest contributors to its income is Coal and Natural Gas.  Both have been impacted by the shale oil drilling boom.  When an oil well is drilled, it produces ‘associated gas’ that has flooded the market sending natural gas prices to 1980 levels of $1.70/mcf.  Abundance of natural gas has then cratered the demand for coal because gas is cheaper as an energy source. 
 

If we see sustained low oil prices, expect supply for natural gas to decrease thus increasing the price of natural gas and demand for coal.  Bottom line - higher revenues for Wyoming.  Just the facts.  

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You're all forgetting the Uintah Basin; though, of course, the Salt Lake County Watermelon Greenies file eternal and infinite lawsuits any time anybody puts together a business plan for extraction and delivery (as recently as last year):

snt41-1_oil-shale-resources_wy-ut-co-103

You keep using that word. I do not think that word means what you think it means.

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2 hours ago, OrediggerPoke said:

It actually does along with the three-forks formation.  Just that those formations are largely non-productive in South Dakota. 

Nope.   The Williston basin wherein the majority of the Bakken resides does extend into SD but the Bakken formation itself does not.  Wish it did as SD could use another source of revenue.  There is a small amount of oil extracted from the Three-Forks formation in northwest SD but it's minimal.

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13 hours ago, Fowl said:

UNM

While oil and gas has recently (5-10 years or so), surged to the forefront here in NM, I can't point a finger at anything in particular, that was done at, or for UNM, (or nmsu for that matter), that can be directly related to oil and  gas money, via a company or individual/s.

I wish UNM had their very own, rich sugar daddy, like Oklahoma State does! Revenues to the state have grown due to the surge in the industry here, but, I have no clue how much of the extra money has directly gone to schools in NM. 
5E8D0C20-A525-4D89-A6E9-AAEDCD837310.png.861b0024eb97a627613c2e7f0a7e7763.png

"Make a mistake once and it becomes a lesson, make the same mistake twice and it becomes a choice."
 

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Also, I’m curious to hear from you guys how gas prices have been affected in your home towns? 
I gassed up last night at a casino owned gas station, that was priced at $1.89gal.

Sams Club and Costco are both Currently priced at $1.87gal.

"Make a mistake once and it becomes a lesson, make the same mistake twice and it becomes a choice."
 

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Just now, LoboMan59 said:

Also, I’m curious to hear from you guys how gas prices have been affected in your home towns? 
I gassed up last night at a casino owned gas station, that was priced at $1.89gal.

Sams Club and Costco are both Currently priced at $1.87gal.

Still $2.59 in Yuma AZ. It seems like we are the last place in the Southwest to see lower gasoline prices. My dad said gas prices in Bernalillo are around $1.90 right now. I'll take the higher gas prices here over freezing my ass off in the winter back home though.

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1 hour ago, LoboMan59 said:

While oil and gas has recently (5-10 years or so), surged to the forefront here in NM, I can't point a finger at anything in particular, that was done at, or for UNM, (or nmsu for that matter), that can be directly related to oil and  gas money, via a company or individual/s.


 

Approximately a third of the State's total budget is derived from oil and gas production. 600-lb gorilla indeed.

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4 hours ago, OrediggerPoke said:

It is probably a surprise to most, but the dropping oil price likely BENEFITS Wyoming.  
 

This is because far and away Wyoming’s biggest contributors to its income is Coal and Natural Gas.  Both have been impacted by the shale oil drilling boom.  When an oil well is drilled, it produces ‘associated gas’ that has flooded the market sending natural gas prices to 1980 levels of $1.70/mcf.  Abundance of natural gas has then cratered the demand for coal because gas is cheaper as an energy source. 
 

If we see sustained low oil prices, expect supply for natural gas to decrease thus increasing the price of natural gas and demand for coal.  Bottom line - higher revenues for Wyoming.  Just the facts.  

Do you think WVa and Kentucky agree with you about coal?

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1 hour ago, LoboMan59 said:

Also, I’m curious to hear from you guys how gas prices have been affected in your home towns? 
I gassed up last night at a casino owned gas station, that was priced at $1.89gal.

Sams Club and Costco are both Currently priced at $1.87gal.

Coming back from Vegas prices along the interstate were $2.59 and up. Crossed the border into NM (Gallup)... $2.00 or less.

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4 hours ago, aztech said:

Do you think WVa and Kentucky agree with you about coal?

No.  Apples and oranges.  Only thermal coal is produced in Wyoming and is impacted by natural gas prices.  Metallurgical coal is largely produced in WVA and KY and is largely unaffected by natural gas prices.  

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12 hours ago, LoboMan59 said:

While oil and gas has recently (5-10 years or so), surged to the forefront here in NM, I can't point a finger at anything in particular, that was done at, or for UNM, (or nmsu for that matter), that can be directly related to oil and  gas money, via a company or individual/s.

I wish UNM had their very own, rich sugar daddy, like Oklahoma State does! Revenues to the state have grown due to the surge in the industry here, but, I have no clue how much of the extra money has directly gone to schools in NM. 
5E8D0C20-A525-4D89-A6E9-AAEDCD837310.png.861b0024eb97a627613c2e7f0a7e7763.png

I would suggest that you should understand where your state government gets its revenue.  What percentage of the state of New Mexico’s annual tax revenue comes from oil and gas production taxes?

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17 minutes ago, Fowl said:

I would suggest that you should understand where your state government gets its revenue.  What percentage of the state of New Mexico’s annual tax revenue comes from oil and gas production taxes?

“We will continue to invest strategically in education, health care and infrastructure, laying the groundwork for the improved future New Mexicans expect and deserve,” she said. “We have tremendous opportunity to invest in our children, our schools and our economy.”
https://www.google.com/amp/s/www.usnews.com/news/best-states/new-mexico/articles/2019-12-09/oil-bonanza-sustains-state-budget-surplus-in-new-mexico%3fcontext=amp

"Make a mistake once and it becomes a lesson, make the same mistake twice and it becomes a choice."
 

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10 minutes ago, LoboMan59 said:

“We will continue to invest strategically in education, health care and infrastructure, laying the groundwork for the improved future New Mexicans expect and deserve,” she said. “We have tremendous opportunity to invest in our children, our schools and our economy.”
https://www.google.com/amp/s/www.usnews.com/news/best-states/new-mexico/articles/2019-12-09/oil-bonanza-sustains-state-budget-surplus-in-new-mexico%3fcontext=amp

Good god that was over three months ago.  Do you not know what percentage of New Mexico’s budget comes from oil and gas taxes?  Not to even mention the amount of state income taxes that are derived from those employed in that industry?  It’s going to be a bloodbath. 

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