 By Alvin Engelke
alvinengelke@hotmail.com
The Creston auction will be Saturday, February 6, starting at 6 P. M. at the Community Building, weather, deep snows, high floods, etc, permitting.
The local area had warmed up some and daffodils were starting to come up (silly things) but then there were a few inches of snow and the temperature fell down below zero as cold weather whapped a large part of the nation.
Apparently, as a result of snow and ice on the roadway, someone drove off W.Va. 5 and rolled into Russell Hupp's lawn.
Steve Cunningham, Vernon Walker, Winnie Sinnett, Mark Lytle, Jon Hildreth, Thorn Roberts, John Stone, Alvin & Nancy Engelke were among the several hundred who attended the IOGA (oil & gas) meeting in Charleston. All agreed that much was learned by most who attended the event.
The Big Boss who has always been one of the party faithful stated plainly that W. Va.'s tax revenues would not return to 2008 levels until at least 2014 which would be two years after the next presidential election.
While the Big Eared One talked about offshore drilling the only forward movement on that scene was his "loan" of a few billion of U. S. taxpayer dollars to his socialist buddy in Brazil so they could drill offshore there.
One of the main speakers was Michael Economides who noted that the price of natural gas would likely stay in the $5 range for the next three years. It was also noted that $5 gas is equivalent to $30/bbl oil. 87% of the energy in the entire world is supplied by coal, oil and gas and 1% being wind & solar. Biomass has been talked much as the fuel of the future but it was noted that 1/3 of the world currently uses biomass for energy and in India that is almost exclusively cow manure. It was also noted that oil usage in China increases 20% each year.
Hollywood "energy expert" Gwyneth Paltrow said that if the world changed to wind and solar and swore off oil there would be no more wars. The first battle over an oil field was during the Civil War at Burning Springs. There were countless wars before and the War on Terror is only incidentally about oil.
The consensus was that the Cap & Tax plan was dead although it was reported proposed taxes under the plan are included in the Big Eared One's new federal budget. The exposure of the various frauds by the global warming hoaxers has been very effective but the plans and their costs continue. It was noted that carbon dioxide (CO2) sequestration is "the last refuge for the energy scoundrel". It was understood that there is legislation pending down at the Mouth of the Elk for such & global warming is still taught in schools.
The Marcellus continues to be the talk as it is the second largest natural gas field in the entire world. Chesapeake noted that they have an immense acreage position in the Marcellus and that they are also involved in the Granite Wash - they have a test well planned in Roane County. It was noted that horizontal wells in the Marcellus cost $4.5 million but are very productive. In Pennsylvania the bonus is now $6,000/acre with 20% royalty & the amounts the leasemen are offering in West Virginia are going up since folks are finding out what is being paid elsewhere.
Those who study the political scene noted that in the "state of the Nation" speech there was no mention of natural gas (the Pickens plan) but others noted that the Sugar Daddy, George Soros is developing a huge natural gas field in New Guinea and obviously he must plan to bring the gas to supply energy in America.
The price of local Penn grade crude fell to $65.75/bbl and gasoline in the Parkersburg area is now below $2.60/gallon.
John & Margaret Morris were in Creston hauling hay.
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