Renewable Revolution

This quote tells you all you need to know about the "objectivity" of this fossil fuel worshipping puff piece book:
... abracadabra and/or dreams of a 100% replacement of fossil fuel energy with renewable ("renewable") energy,

The normal and expected MKing style mockery and derision of clean energy, as usual, makes its sine qua non presence into these fossil fuel industry happy talk propaganda pieces.


Speaking of MKing, is he Dan Jarvie or not? Only their hairdresser knows.

I have been unsuccessful in finding out if Dan Jarvie raced motorcycles in his youth. That data point would have gone a long way to identify MKing as Danny boy.

But there are some similarities I wish to point out, though they don't confirm MKing as anything but having the same line of happy talk and ego inflating puffery as Dan Jarvie.

Specifically, I wish to remind the readers about MKing's claims that:

1) INNOVATIONS in cost reduction "high" technology by the Frackers has lowered costs, placing them (EOG Resources, perhaps?) in a position to make big bucks when ("history of oil" based view ) the "turnaround" comes.

2) The "innovations" are part of MKing's "world class geochemist" contributions to making Fracking more profitable. SO, MKing is a credentialed "genius that should get a raise from his boss and our recognition for all that wonderful ingenuity he has come up with to make our lives more comfortable".

Well, EOG Resources, HAS come up with some "innovations" that put them slightly ahead of the Fracker pack. IF MKing is Danny boy, then it is expected that he would crow about said "high tech" innovations.

The following is instructive. It shows you how techniques that have been known to any oil industry rough neck with two brain cells to rub together for over 40 years (at least!) have been rebranded as "innovations" by a world class BULLSHITTER for the fossil fuel industry that also happens to be a geochemist specializing in "unconventional" shale gas geochemistry.

 Some thoughts on the possibility that MKing's real identity is Dan Jarvie, Chief Geochemist for EOG Resources.
A fellow like Mking would fit right in at EOG Resources.

WHY? Because, EOG Resources is the successor to Enron Oil & Gas Company (crooks and liars). LOL!

The following quotes from a Motley Fool article about EOG oil and gas pig policies fit with what  MKing (Dan Jarvie?) has been smugly posting.

"EOG Resources spent the bulk of 2015 working to get its costs down. It did this by becoming more efficient as well as by focusing on new innovations that are targeting the best spots of an oil and gas reservoir. This is yielding lower well costs as well as higher well output, which are two of the key drivers of drilling returns."

What "new innovations"?   :icon_scratch:

Well, the geochemists working there are being more careful about where to drill, which allegedly saves the company money. After 20 plus years of working as geochemists, MKing and friends discovered a rather ancient 20th century technique called thermal imaging. Yes, computers make the display more snazzy, but it is BALONEY to call this an "innovation".

"EOG Resources puts together a heat map, so to speak, of where the best hydrocarbon-bearing rocks lie and then targets those sweet spots."

This sounds more like MKing happy talk than reality, but the other "innovation"  discussed below has actually improved well output.

"EOG Resources is finding that by using more sand in a well, known as a high-density well, it is producing greater quantities of oil than it had been in legacy wells."

As you can see, this "high tech" method of throwing sand at the production problem is part of the "world class geochemist" knowledge skill set that that can only come from credentialed fine fellows and years of study.  LOL!
The fact that EOG owns a sand mine may have had something to do with this "innovation".'

"This is a trend that actually plays into EOG Resources strength as it has vertically integrated so that it owns a sand mine, which gives it unparalleled access to sand so that it can more easily test out volume concentrations on new wells."

http://www.fool.com/investing/general/2015/09/24/eog-resources-incs-innovation-is-paying-off.aspx

But a closer look at the EOG MO (that this article doesn't want to talk about  ), is how oil and gas pigs weather downturns by pulling out their extensive accounting grab bag of tax breaks thanks to the coerced generosity of we-the-people.

And no mention about what cherry picking well drilling sites and using more sand does to the environment, of course. That too, is another invisible bit of subsidy swag that we-the-people are providing to help these crooks "weather the downturn".

So, attaboys for "after tax" improvements in the bottom line lack proper investor perspective when "before tax" accounting fun and games are not included.

Adding sand to high speed drilling operations may be a great excuse to throw some accelerated depreciation added tax deductions to drilling equipment.  :evil4: That is a neat trick because they have a lot of idle equipment that nobody wants to buy (see: stranded rig asset over stranded shale oil "asset") so they can kill two birds with one stone, so to speak, by putting their equipment through the sand meat grinder in a cannibalizing effort to get more production while they game their tax picture.

 That fits perfectly the MKing's oft published pride in his "survival of the fittest" (screwing the taxpayer to stay "profitable" is expected and laudable "apex predator" behavior) religion.   

EOG bet on an oil price rebound in 2016 while putting a lid on production in 2015. That fits with the "weathering a downturn" statements of MKing (Dan Jarvie?). They kept drilling but they didn't put new wells in production.

They need $65 a barrel to open the floodgates of production. Motley fool discussed this and patted them on the back. That explains MKing's crowing about the oil price popping up to $50. But since EOG needs $65, that also explains MKing's "calm assurance" that the price will go a lot higher.

The problem for the EOG post Enron crooks and liars is that the oil price isn't cooperating. 

"The hold-up is getting oil prices to cooperate, which is a problem because the company is waiting until it sees a sustainable oil price above $65 a barrel before it unleashes a gusher of growth. At the moment, that means crude oil would need to more than double. While that's a possibility before the end of the year, it's not likely going to happen anytime soon. That would delay the company's ability to drive robust growth in 2016 because it will take time before its inventory of wells can be completed and new ones drilled. In other words, while EOG Resources can ramp its production much sooner and at a faster pace than its peers, it's not as if it can just flip the switch on growth.

Investor takeaway

EOG Resources' ability to deliver its best year yet boils down to what happens with the price of oil. If it rallies sharply before mid-summer, then the company could set a production record before the year is out. However, if oil stays lower for longer, we could start to see EOG Resources slowly begin to complete some of its uncompleted well inventory just to manage its decline rate, which would mute its upside potential when oil does finally rally."

http://www.fool.com/investing/general/2016/02/03/will-2016-be-eog-resources-incs-best-year-yet.aspx

Don't Expect MKing or Motley Fool to tell the whole truth about EOG Resources.

The Motley Fool owns shares of Devon Energy and EOG Resources.

Below, please find, a pep talk cheerleading EOG that MKing, if he is Dan Jarvie, Chief Geochemist for EOG Resources, will not hesitate to peddle as prudent, measured, real world, responsible fossil fuel industry behavior:

"While its peers were growing just to grow last year, EOG Resources (NYSE: EOG) said on the outset that it was "not interested in accelerating crude oil production in a low-price environment." Instead, the company focused on improving its returns. That's because unlike its peers, EOG Resources puts much less emphasis on growth, which is only an 8% weighting for executive bonuses, and a much higher weight on returns on capital, relative stock price, and spending.

Those incentives paid off for both the company and its shareholders, with EOG Resources' stock vastly outperforming its peers and the price of crude oil last year. That's after the company's focus on innovation and efficiency enabled it to significantly improve its well returns. In fact, now more than a quarter of its drilling inventory is profitable at a $30 oil price, which is something that seemed unimaginable just a few years ago.

That type of returns-weighted incentive plan really needs to become the standard across the industry going forward."

http://www.fool.com/investing/general/2016/04/10/wheres-the-outrage-energy-ceos-reap-millions-while.aspx

The claim that EOG can make a profit from more than a quarter of its drilling inventory at a $30 oil price is a lie. They can't. They know it. Motley Fool knows it. Don't believe this baloney. It's accounting sleight of hand of the most craven and GAAP (generally accepted accounting principles) mocking sort. But oil and gas pigs are quite skilled at unethical accounting snake oil.

Here's some more Happy talk from the horse's mouth, so to speak:

EOG Resources changing strategy to get more crude out of stubborn shale

Posted by Collin Eaton
Date: May 06, 2016

HOUSTON – EOG Resources says it can get “triple-digit” returns at $60 a barrel oil, a sign the company has whittled down drilling costs as it moves rigs to its most profitable spots.

Outlining a new strategy, the Houston oil company said Friday it has pointed its drill bits at its top-shelf locations in South Texas’ Eagle Ford Shale and elsewhere that get a minimum 30 percent return at $40 oil.

“Our shift to premium is permanent and not simply a temporary high-grading process in a low-commodity price environment,” EOG Resources Chief Executive Bill Thomas told investors. “If history is any indication, we will continue to push the oil price needed for triple-digit returns even lower.”

http://fuelfix.com/blog/2016/05/06/eog-resources-changing-strategy-to-get-more-crude-out-of-stubborn-shale/

NOTE the focus on HISTORY. MKing loves to talk about HISTORY. These people have their heads so far up their oil and gas profit over planet HISTORY ASS, that they cannot compute the climate change catastrophe that they are exacerbating to save there lives.

Getting back to the question of whether MKing is Dan Jarvie, Chief Geochemist for EOG Resources, the above quoted Motley Fool happy talk is a useful tool.

Also, please observe that, true to their ENRON heritage, EOG is very big on "relative stock price". Observe MKing's post frequency and tone when the price goes down sharply and when the price spikes. This will provide data points, though it will still lack speculation free proof.

A fellow like MKing simply cannot avoid talking his book. That much is obvious from his repeated crowing about his "high intelligence and world class credentials".

Even if he reads this, he will not be able, despite his ample skills at duplicitous rhetoric, hide his joy with a high stock price or his woe with a cratering one. The EOG stock price and MKing behavior is now one of my hobbies.

There are other links that can be tested to confirm whether or not MKing (Danny boy?) works for EOG. I'm working on that.

EOG Resources, Inc. is a petroleum and natural gas exploration company headquartered in the Heritage Plaza building in Houston, Texas.

Tell us MKing, how many Houston construction gantry towers can you see from Heritage Plaza? Perhaps that is what you use to come with your "scientifically based" prudent, studied and measured anecdotal conclusion that the economy of Houston isn't in the shitter.

Dateline 2030: A day at a museum in Houston