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2.27.2013
Deadline 8 a.m. tomorrow
St Louis-MCE Yays and Nays: Energy Edition
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Missouri Coalition for the Environment | 6267 Delmar Blvd., Ste. 2E | St. Louis | MO | 63130 |
Find Scotts Contracting, St Louis Renewable Energy at:
2.24.2013
The Home Stretch-StLouis Mayor Election
Hello Slay for Mayor Volunteers!
We have just 9 days to go in this race that will determine the future of St. Louis. We are in the home stretch now, and with your help we will cross the finish line with a victory for Mayor Slay and for our city! Click here to read the St. Louis Post Dispatch's ringing endorsement of Mayor Slay and why their editorial board says that "City voters should stick with the Mayor"! Then forward it to your friends and family!!!We need YOU to help us spread the message and get out the vote.
- Join our Volunteer Canvass Crew!! We need volunteers to go door to door and inform voters about this critical election. Let's get out there and show our support for Mayor Slay! Any time hour or two you can spare to help us knock on doors will contribute GREATLY to our success!!
- Join our Volunteer Phone Bank!! We need volunteers to help us call voters and spread the word. Let me know if you have an hour or two to man the phones.
- Help with a mailing! This week we will working on mailings every afternoon from 2-4pm. We need all the help folding, stuffing and stamping we can get! Email me if you'd like to help or if a different time will work better for you. *Bring in your phone book, Christmas card list, or church, club or team directory and send post cards to your friends and family. We will supply all of the materials. This is one of THE most effective ways for us to reach out to voters.
- Tuesday March 5th is ELECTION DAY!! Plan to help us staff the polls. The busiest times are 7-9am, 11am-1pm, and 5-7pm, but anytime on election day will be helpful. We will also need volunteers to help post signs at polling places Monday night March 4th and very early in the morning on election day, Tuesday March 5th.
- Sign up for our Friends and Family Program now! If we all keep in touch with between 5 and 15 people we know, inform them about this important election, and make sure they vote, it could determine the future of our City.
- Help us distribute yard signs! We are still getting requests for yard signs! Email me if you can come by the office and pick up a stack along with a map and a list and distribute some.
As always, feel free to contact me any time with questions or suggestions, and thank you again for all that you do!Bonnie Boime
Volunteer Coordinator, Slay for Mayor
bonnie@mayorslay.com
volunteersforslay@gmail.com
Office: 314.535.7529(SLAY)
Volunteer Line: 314.643.8657(VOLS)
Groundbreaking Reports Show Fracking is a Risky Short-Term Bubble
“The main point for me is that the investment bankers heavily promoted shale and put pressure on the companies to meet production targets,” said Rogers. “This in turn helped create a glut in the market as we didn’t have demand in place. Prices then plunged which opened the door for large transactional fees for the banks. It is highly unlikely that market savvy bankers didn’t recognize such an opportunity very early on. In fact, I think they created it.
“Exporting is a last ditch effort to shore up a failing balance sheet. Exportation will drive the price higher in the U.S. There’s no doubt about it. The question is how high will it go. When you are producing a commodity and have produced it to such a high extent, you want to find someone who will buy it, and in this case, it will be the Asians.
“The irony of this is that we used to exploit other areas of the globe to provide energy security for the U.S. and now the U.S. is being exploited to provide energy security to Asia.”
Together, the independent reports reassess current common wisdom about the tight oil and shale gas booms that are sweeping America. The reports comprise a thorough and up-to-date analysis of data on U.S. oil and gas wells, and a comprehensive review of the financial status of the companies leading the charge.
What emerges from the data:
- Overall field decline rates are so steep that 30-50 percent of shale gas production and 40 percent of shale oil production must be replaced annually to offset declines.
- High productivity shale plays are not ubiquitous. Just six plays account for 88 percent of shale gas production and two plays account for 80 percent of shale oil production. Furthermore the most productive areas constitute relatively small sweet spots within these plays.
- Maintaining production requires high rates of high-cost drilling—8,600 new wells annually for shale gas and oil. This will increase as sweet spots are drilled off.
- High drilling rates require extremely high rates of investment—$48 billion a year to maintain shale gas and oil production considering drilling costs alone—much more if full cycle costs are included. These costs will increase dramatically as plays age.
- Wall Street promoted the shale gas drilling frenzy, which resulted in prices lower than the cost of production and thereby profited [enormously] from mergers & acquisitions and other transactional fees.
- Shale gas has become one of the largest profit centers in some investment banks, in direct parallel with the decline of natural gas prices.
- Due to extreme levels of debt, stated proved undeveloped reserves (PUDs) may have been out of compliance with SEC rules at some shale companies because of the threat of collateral default for some operators.
Hughes and Rogers suggest the fracking boom may be a costly, risky, short-term “fix” for America’s long-term dependency on depleting oil and gas. Rather than offering the nation a century of cheap energy and economic prosperity, fracking may instead present us with a short-term bubble that comes with exceeding high economic and environmental costs.
For more information visit the new Shale Bubble website.
Visit EcoWatch’s FRACKING page for more related news on this topic.
Groundbreaking Reports Show Fracking is a Risky Short-Term Bubble
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