Cramer on Fox news

[Davey Crockett]

What do you guys think about this plan to spend 33 million of North Dakota's covid relief money to plug old and non productive oil wells ? Cramer was on Fox saying "what it does is preserves these wells and puts 500 workers back to work." I wish I knew for sure if he is misinformed or flat out lying.

#1 These wells are forever taken out of production not preserved.

#2 This money is meant for rebuilding our local economy and local businesses.

# 3 Most of these wells are leftover junk from the 80s that were never taken care of because of state mismanagement all along and now all of a sudden when local business and economy really needs help these wells are all of a sudden top priority.

It's tough for me to sit and watch 33 million spent to drag crews back in from out of state then send them back home. This money should be kept local and for small business not go out to big corporations.



Not sure how to post this type of vid but I'll give it a try.

<iframe src="https://www.facebook.com/plugins/video.php?href=https%3A%2F%2Fwww.facebook.com%2FBakkencom%2Fvideos%2F705172253589600%2F&show_text=0&width=560" width="560" height="315" style="border:none;overflow:hidden" scrolling="no" frameborder="0" allowTransparency="true" allowFullScreen="true"></iframe>

- - - Updated - - -

- - - Updated - - -

- - - Updated - - -

https://www.facebook.com/Bakkencom/videos/705172253589600/https://www.facebook.com/Bakkencom/videos/705172253589600/

 

[guywhofishes]

Gas stations all pay into "petro funds" - and that money is used for cleanups when fuel storage tanks leak.

I thought money is also paid "up front" by oil companies for abandonment of oil wells also. Isn't that the case? If so - where the hell is that money?

This is probably a crooked deal once again. Millionaires everywhere out west - but taxpayers have to clean up old wells. Sounds legit.

 

[Fly Carpin]

43-02-03-15. Bond and transfer of wells.

1. Bond requirements. Prior to commencing construction of a site or appurtenance or roadaccess thereto, any person who proposes to drill a well for oil, gas, injection, or source well foruse in enhanced recovery operations, shall submit to the commission, and obtain its approval,a surety bond or cash bond. An alternative form of security may be approved by thecommission after notice and hearing, as provided by law. The operator of such well shall bethe principal on the bond covering the well. Each surety bond shall be executed by aresponsible surety company authorized to transact business in North Dakota.
2. Bond amounts and limitations. The bond shall be in the amount of fifty thousand dollarswhen applicable to one well only. Wells drilled to a total depth of less than two thousand feet[609.6 meters] may be bonded in a lesser amount if approved by the director. When theprincipal on the bond is drilling or operating a number of wells within the state or proposes to13do so, the principal may submit a bond conditioned as provided by law. Wells utilized forcommercial injection operations must be bonded in the amount of one hundred thousanddollars. A blanket bond covering more than one well shall be in the amount of one hundredthousand dollars, provided the bond shall be limited to no more than six of the following inaggregate:
a. A well that is a dry hole and is not properly plugged;
b. A well that is plugged and the site is not properly reclaimed;
c. A well that is abandoned pursuant to subsection 1 of North Dakota Century Code section38-08-04 or section 43-02-03-55 and is not properly plugged and the site is not properlyreclaimed; and
d. A well that is temporarily abandoned under section 43-02-03-55 for more than sevenyears.

$100k doesn't do dick when we're talking real reclamation of the landscape. Now I know what that guy from a Texas pipeline company meant when he told me ND was the easiest state to work in from a regulatory perspective.

 

[wjschmaltz]

Gas stations all pay into "petro funds" - and that money is used for cleanups when fuel storage tanks leak.

North Dakota cleans up spills like my 19-month old cleans up his toys.

And gas stations don’t pay into petro funds. You pay an extra tax on your fuel at the pump so you don’t realize the government is taking from you again. They just have the gas stations send that money for you so you can be fooled by a bigger tax “refund.” Not sure what they do with it, because they damn sure haven’t cleaned any of the messes up out there.

- - - Updated - - -

Now I know what that guy from a Texas pipeline company meant when he told me ND was the easiest state to work in from a regulatory perspective.

Understatement. When I started applying for jobs in AK, my experience in the ND oil field was laughable. Literally guys at Conoco and BP laughed. Maybe if the residents of ND stood up to the shit going on out there, oil companies would be held accountable and ND’s 33 million in virus relief funds wouldn’t be used to please and cover the ass of oil companies in Texas and halfway around the world. I trust what comes out of Lynn Helms’ mouth about as much as Hillary.

 

[NDSportsman]

Shouldn't the oil companies be responsible for plugging these wells?

 

[Davey Crockett]

Shouldn't the oil companies be responsible for plugging these wells?

Yes, They should have been all along. This is a big thing, We have local small businesses struggling and facing bankruptcy and this money was intended for them. Instead this is an attempt to rob Peter to pay Paul and sweep 40 years of poor management under the rug by pulling the wool over our eyes. I encourage people to email Cramer.

 

[eyexer]

The state has been kicking the can down the road for a hell of a lot of years just waiting for something like this to come along. Obviously these old wells aren’t hurting anything or they would have been forced to deal with them a long time ago. Use the damn money for what it was intended or don’t take it.

 

[Davey Crockett]

The state has been kicking the can down the road for a hell of a lot of years just waiting for something like this to come along. Obviously these old wells aren’t hurting anything or they would have been forced to deal with them a long time ago. Use the damn money for what it was intended or don’t take it.

I did a little follow up reading, In Texas they plugged and abandoned 1300 and some sites for 23 Million I forget the exact numbers but I am close. Those wells on average were probably deeper because most of the wells than need plugging in ND are on this side of the bakken.

I emailed Cramer yesterday but I don't expect to hear back. If I don't hear back for a week I'm sending another one to as many recipients as I can find in hopes someone will grab it and go.

 

[BrokenBackJack]

That money definitely should not be used to plug old wells. Use it for what it is intended for.
ND always seemed to put a big fine on the oil companies for their wrong doing but then backed the fine way down and letting them off the hook. To me fine them big and also make them clean up what they wrecked or did wrong.
Back when we lived in ND i wrote many letters to our Governor's and our local congressman about always lowering the fines to the oil companies. Back in the day when i had to go to court for my wrong doings when the judge gave a fine that is what i had to pay it was never reduced. So why should it be reduced for the oil companies. You aren't teaching them anything by doing that. You teach them by hurting their pocket book or bottom line!

 

[Davey Crockett]

If only we could see a paper trail of the under the table money.

 

[fly2cast]

North Dakota cleans up spills like my 19-month old cleans up his toys.

And gas stations don’t pay into petro funds. You pay an extra tax on your fuel at the pump so you don’t realize the government is taking from you again. They just have the gas stations send that money for you so you can be fooled by a bigger tax “refund.” Not sure what they do with it, because they damn sure haven’t cleaned any of the messes up out there.

Wow, are you completely wrong. ND gas stations are required by law to pay into an insurance fund to help cover the cost of clean-up in the event of a leak. Why would you just say something like that when it's so easy to look that information up? The tank fund even has a website: https://www.deq.nd.gov/Director/PTRCF/

 

[guywhofishes]

of course gas stations use revenue from customers to pay the fund

so ultimately the consumer pays for everything- just like we’re paying for covid checks in the end (our grandkids more like it)

but that’s true in virtually any market/product

 

[WormWiggler]

of course gas stations use revenue from customers to pay the fund

so ultimately the consumer pays for everything- just like we’re paying for covid checks in the end (our grandkids more like it)

but that’s true in virtually any market/product

In a business class in college years ago, I recall a statement. Corporations don't pay any tax. Any tax levied on them is passed on to consumers. I always wonder if that a valid theory. At a base level I suppose it is true, but sometimes I see corporations taking person like characteristics and usually not in a good way.

 

[Davey Crockett]

I decided it's senseless to wait for Cramer to respond . Does anyone know the whereabouts of a group email list for ND house and Senate members ? After looking for a good 1/2 hour I finally decided to stop and asked for directions, I know they exist just having a hard time to find one.

 

[eyexer]

I did a little follow up reading, In Texas they plugged and abandoned 1300 and some sites for 23 Million I forget the exact numbers but I am close. Those wells on average were probably deeper because most of the wells than need plugging in ND are on this side of the bakken.

I emailed Cramer yesterday but I don't expect to hear back. If I don't hear back for a week I'm sending another one to as many recipients as I can find in hopes someone will grab it and go.

the depth of the well is trivial in this matter. They’re just pumping Crete down the casing so a couple thousand more feet is trivial in the overall scheme of cleaning up abandoned wells/site. The big cost is removing all the facility and the dirt work and most likely soil testing.

 

[wjschmaltz]

Wow, are you completely wrong. ND gas stations are required by law to pay into an insurance fund to help cover the cost of clean-up in the event of a leak. Why would you just say something like that when it's so easy to look that information up? The tank fund even has a website: https://www.deq.nd.gov/Director/PTRCF/

Do you also think that companies will just soak up $15 minimum wage and the consumer won’t be affected? I’m sure gas stations just absorb that extra cost and aren’t charging us more..... Taxes come in millions of hidden shapes and sizes and people that act like companies won’t pass these additional costs of business onto consumers are the ones that cause the trickle down to beat us into the ground all while they stand outside yelling “shit, it’s raining!”

I agree with spill response funds, I work in the industry. But I also know who really pays for it.

 

[eyexer]

The solution to the old wells is pretty simple really. Assess a certain dollar amount to any new well permit that goes strictly to a fund to P/A the old wells. Is it fair to the oil companies that don’t own these old wells? No. But it’s a small price to pay to drill here. The tax payers shouldn’t foot the bill

 

[NDSportsman]

The solution to the old wells is pretty simple really. Assess a certain dollar amount to any new well permit that goes strictly to a fund to P/A the old wells. Is it fair to the oil companies that don’t own these old wells? No. But it’s a small price to pay to drill here. The tax payers shouldn’t foot the bill

That's common sense......we don't do common sense here....