Kemp: Oil in Arcadia

Hess To Form MLP For North Dakota Oil, Gas Transport Assets
Analyst John Kemp discusses the portrayal of North Dakota in a recent publication in which the article "tells only part of the story".


John Kemp is a Reuters market analyst. The views expressed are his own

LONDON, Nov 24 (Reuters) - The State of New York produced just 1,000 barrels of oil per day in 2013, but consumed almost 620,000 barrels per day of refined fuels, according to the U.S. Energy Information Administration.

Virtually every gallon of gasoline which New York motorists put into their cars, and the fuel oil used to heat their homes and offices through the long, cold winter, was refined from oil produced outside the state.

Some of that crude came from states such as North Dakota, Texas and Alaska, and the rest from foreign suppliers like Canada, Saudi Arabia, Venezuela and Nigeria.

In common with other metropolitan areas, such as Washington, London or Paris, the lifestyle New Yorkers enjoy depends on oil and gas produced in other places and communities.

It is worth remembering that when sitting in a comfortable office in a big city reading about all the problems associated with oil and gas production.

On Saturday, the New York Times published a carefully researched essay chronicling "The Downside of the Boom" about how "North Dakota took on the oversight of a multi-billion dollar oil industry with a regulatory system built on trust, warnings and second chances".


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ND Landman | Nov. 25, 2014
As someone who deals with surface owners for a living out in western ND, the Times narrative on pollution and spills is so overwrought. To their credit, surface owners are extremely diligent in looking after their property, if there are spills or other forms of pollution on their property then you certainly hear about it. I hear far more complaints about dust and weed control than I ever do about oil or chemical spills.

Phillip Martellaro | Nov. 25, 2014
Very well written counterpoint to the NYT article. It is true that our nation has better regulation over industry than most of the world. Our lifestyle in the US depends on energy and while we can minimize our environmental impact it will never be zero. Subaru touts a zero landfill plant, but this is only a marketing gimmick to appease a very left customer base. You cannot build a car without waste, in this case they have others create the waste. New York City does not want a single power plant near them but they certainly want, need and demand electricity as they should. The want, need and demand should come without hypocrisy of where that energy comes from.

Joe | Nov. 25, 2014
Very good article. Wish there was more truth and unbias reporting of the facts. Seams like everyone has an agenda.


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