US Shale Defy Calls To Boost Output As They Funnel Profits To Shareholders

Monday, 8 August 2022, 18:15:00
US Shale Defy Calls To Boost Output As They Funnel Profits To Shareholders US shale is still acting with restraint in terms of production growth despite President Biden”s calls to increase supplies to squash energy prices that were driven up due to soaring demand, decarbonization efforts, lack of refinery capacity, limited spare capacity, and, of course, geopolitical uncertainty surrounding Russia”s invasion of Ukraine. ConocoPhillips, Pioneer Natural Resources, and Devon Energy recorded soaring profits in the second quarter, though many of these top shale oil and gas producers were reluctant to boost capital spending to increase output despite elevated prices for crude, according to Financial Times . Executives of these companies are under pressure from Wall Street to return record profits in the form of dividends and share buybacks to investors rather than increasing capital expenditures to boost production. It comes after years of burning cash and issuing equity to survive the multiple boom-bust cycles that paralyzed the shale industry.
— Zero Hedge

This defence sector stock boosted investor wealth by 75%

Monday, 8 August 2022, 10:07:00
HAL is one of the world’s largest and oldest defence manufacturing companies, and its investors have gotten very rich this year. HAL’s rise could also benefit
— Business Insider India

The Iraqi and Afghan people were burn pit victims too | Opinion

Friday, 5 August 2022, 16:05:21
The close to $700 billion appropriated in the PACT ACT for the next ten years will help alleviate some suffering caused by Halliburton’s war profiteering, but only for U.S. victims. It won’t do a thing for the people in Iraq and Afghanistan. Military veterans and their supporters camped out in front of the U.S. Capitol for close to a week after Republican senators withdrew their support for a major expansion of health care for veterans exposed to toxic “burn pits” in Iraq and Afghanistan. Formally titled, “The Sergeant First Class Heath Robinson Honoring our Promise to Address Comprehensive Toxics Act of 2022,” the PACT Act targets the Pentagon’s reliance on burn pits for disposing of the vast amounts of waste produced during the invasions and occupations of Iraq and Afghanistan. Plumes of polluted smoke and particulates from the burn pits injured up to an estimated 3.5 million U.S. service members over the past two decades. After blocking the bill, Senate Republicans faced withering criticism from veterans and their supporters, including renowned comedian Jon Stewart. “I’m not sure I’ve ever seen a situation where people who have already given so much had to fight so hard to get so little,” said Stewart, deadly serious, flanked by vets and families of veterans who died from the exposure.
— AlterNet

US Frack Growth Constrained In “Perfect Storm”

Sunday, 31 July 2022, 23:30:00
US Frack Growth Constrained In “Perfect Storm” Last week, Halliburton Co.”s CEO Jeff Miller warned hydraulic fracturing equipment is in short supply and could hamper fracking growth. Another oil/gas executive echoed the same warning this week and said bottlenecks could persist through 2023. “Availability of frac fleets is one of main bottlenecks impeding oil and natural as production growth for the next 18 months,” Robert Drummond, chief executive officer of fracking firm NexTier Oilfield Solutions, told Reuters . Besides supply chain snarls, Drummond warned that capital constraints would make adding equipment to fields challenging. He said this imbalance could take several years to correct, adding that NexTier has no plans to expand fracking capacity this year. This development is another setback for the Biden administration”s efforts to increase US oil production to ease the worst inflation in forty years ahead of the midterm elections in November. US crude production is around 11.6 million barrels per day, below the pre-pandemic 12.3 million bpd in 2019, the latest data from the Energy Information Administration show.
— Zero Hedge

After HAL and BEL, now Bharat Dynamics eyes record high. Here”s why

Thursday, 28 July 2022, 10:52:00
Bharat Dynamics has more-than-doubled in 2022 so far, however, the stock still trades 14 per cent shy from its historic peak.
— Business Standard