Boothe's
Global Perspectives
ENLIGHTENED JOURNALISM WITH INDEPENDENCE AND OBJECTIVITY
  • Energy  

    Storage for Oil and Gas Could be a Huge Opportunity for Profits

    Oil Storage, At A Premium Value and Profit

    When Saudi Arabia and Russia disagreed on production limits, the Saudi's did what they have done many times before. They determined to take radical action and increased production, flooding the world with new oil, and driving oil prices down so low, as to "cripple" Russia.  In the process, the Saudi's hurt oil drillers and producers all over the world.  Oil dropped as low as $10 in the futures markets, but in a cash market oil went from $56 per barrel of oil  to $20 per barrel. This created a "rush to shut down" production among independent oil producers in the Permian Basin, and created alarm among investors and bank lenders of the oil industry.  Carlsbad, New Mexico immediately felt the pain.  "Carlsbad had been seeing a gradual slow down in the oil and gas industries, but the move by the Saudi government was harmful and punishing to the industry.  Now we are seen hotel occupancy rates fall, "man camp occupancy" for the thousands of oil field workers which were full a few months ago, now are struggling to find tenants.  Retail and oil and gas support industries have cut back." said Erst Diener a student of the Permian Basin and it's economy.   So now, so much oil production has hit the world markets that there is a desperate need for "Storage".   Oil companies are storing oil in oil storage ships and paying them simply to sit idle at sea, to store the flood of oil.  Now slowly the price of oil is recovering, but Saudi Arabia's move has left multiple thousands of workers out of jobs, and many oil and gas companies essentially downsized or shut down.   Big operators such as BP and EXXON have the capital to last through these temporary times, but this coupled with the recession and lower demand for fuel because of dramatic reduction in travel by people on airlines, and even autos, has caused a "recessionary" fear that has cost American oil and gas companies billions. 

    "Americans and the American Government is again learning that Saudi Arabia's leadership is not a friend of America, and it has cost thousands if not millions of jobs in the USA" said Diener. 

    We give credit and wish to reprint the following article about storage.  Why?  Carlsbad is an ideal location to create a huge storage tank center for the oil and gas industry.  Indeed, those who can build and create such facilities, or investors who wish to find a profitable investment direction might consider this a potential area, that could employ huge numbers of contractors, engineers, builders, and petroleum industry experts.  As Ben Boothe of Boothe Global Perspectives has said: "The greatest times of crisis, often create the greatest opportunity for new wealth"....if you are quick on your feet, informed and willing to jump.

    Enjoy the following and our credit to Market Watch. …

     

  • Mar 9, 2020 | Energy  

    Natural Gas Trends Down, Worldwide, while Carlsbad NM still growing!

    NATURAL GAS PRICES DROP TO $1.65 TO $1.74 RANGE, OIL AT ANNUAL LOW...WHY? CORONAVIRUS FEARS, REDUCED TRAVEL, MILD WEATHER FX EMPIRE reports natural gas prices down to new lows on a combination of weak demand due to reduced business, and industry. Plus fears of Coronavirus impact upon the economy, and reduced demand due to reduced commercial and residential demand, and mild weather...

     

  • Dec 17, 2019 | Energy  

    Fracking Trends: Boom in Decline? You heard it first from Boothe Global Perspectives

    Forbes, The Wall Street Journal and a host of other business publications are reporting declines or problems with fracking and drilling in shale for oil and gas. Many observe that oil rigs are going idle in West Texas and Southeast New Mexico these days. We first reported economic trends some time ago in ...

     

  • Nov 4, 2019 | Energy  

    New Trends in Oil and Gas COULD IMPACT PRICES AND PROPERTY VALUES

    We have noticed several trends, one in oil drilling and production, and the other on natural gas drilling and production that could have a significant impact upon prices. We at agree that "pictures and graphs" enrich communication. The images tell much of the story. PRICES DROP AND PRODUCTION DECLINES, SAY THE CHARTS...

     

  • Jun 10, 2019 | Energy  

    Different Perspective on Oil Market: is 2020 Trouble?

    We credit Javier Blas of Bloomberg for this article. We recommend that you follow Bloomberg for breaking developments. Bulls Beware: The 2020 Oil Market Is Quickly Turning Ugly June 9, 2019, 1:21 AM MDT Updated on June 9, 2019, 11:25 PM MDT IEA set to publish its first forecast for next year on Friday U.S...

     

  • Sep 27, 2018 | Energy  

    Oil, Gas and Water Deals Impact Property Values in New Mexico and Texas (Water and natural gas big business!)

    OIL, GAS AND WATER IMPACT PROPERTY VALUES in NEW MEXICO AND the PERMIAN BASIN (NEW MEXICO AND TEXAS) 9/27/2018 By: Ben Boothe and Associates, Appraisers, Environmental Reports and Feasibility Studies, Albuquerque N.M. and Ft.Worth, Texas. , ...

     

  • Sep 6, 2018 | Energy  

    Prediction Price of Oil will not exceed $80 says Mohammed bin Hamad Al Rumhy

    Oil prices are unlikely to break out of the mid-$70 level, Oman's oil and gas minister said September 3, and he said that he thought prices were currently "fair." The statement was made in Muscat, Oman. "I think for the rest of this year we should see stability between $70 and the high 70s (dollars a barrel), or low 70s to high 70s," Mohammed bin Hamad Al Rumhy, said...

     

  • Aug 24, 2018 | Energy  

    Increased Spending But Little Increase in Production in Permian

    Spending Boost Fails To Raise Production In The Permian Story Credit to Oil Price by Nick Cunningham By - Aug 21, 2018, 6:00 PM CDT By - Aug 21, 2018, 6:00 PM CDT The U.S. shale industry is gearing up to spend more this year, despite assurances to maintain capital discipline. In the second quarter, shale companies signaled their intention to lift capex...

     

  • Aug 3, 2018 | Energy  

    Oil and Gas Growing in Permian Basin

    THE BRITISH ARE COMING, THE BRITISH ARE COMING, TO TEXAS! Credit to PBOG Newsletter, in Texas for this news OF THIS $10...

     

  • Jun 11, 2018 | Energy  

    Permian Basin Oil and Gas Production and Drilling UP! Huge Impact on Texas and NM State Budgets

    The Permian Basin continues to generate huge "mining" cash flows from oil and gas, and the impact on Texas and New Mexico state budgets will be in the billions of dollars. Just a simple "fly over" the Permian Basin says it all. The land is peppered with oil and gas wells. Oil wells are being drilled everywhere, it seems, in the Permian Basin of West Texas and New Mexico...

     

  • May 7, 2018 | Energy  

    Permian Basin Becoming the World's Largest Oil Field

    THE PERMIAN BASIN “WILL PROBABLY BECOME THE WORLD’S LARGEST OIL PATCH,” says Bloomberg, drawing from research of the U.S. Energy Information Administration. If someone asks that basic Wall Street question in Fort Worth or Midland, "WHERE'S THE NEW MONEY BEING MADE?" the answer is quick and simple for those who know what is going on in West Texas and Southeast New Mexico...

     

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