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"REGULATIONS CLEARING THE WAY..." |
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Written by David Cyr
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Sunday, 14 December 2008 |
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Slide from Norse Energy's 2008 3rd Quarter PowerPoint presentation.
Consider the bold honesty of the "Shale regulatory update" note on that slide:
"Regulations clearing the way for shale development entering comment stage."
The public comment period is nothing more than a temporary inconvenience for global resource extractors, while they wait for corporate owned governments to conveniently provide local regulations designed to clear away any citizen opposition, allowing extractors to do whatever they wish to do... legalizing environmentally unsound procedures, which would not be legal in any society of, by and for People.
Below are some particularly interesting quotes, from CEO, Øivind Risberg:
"We are the only one that has been able to frack Marcellus [one well only] in New York this year; due to certain environmental issues, which is mainly related to water. But as these issues are resolved, which they will be, probably the first part, or middle part of next year, the game is on for Marcellus drilling..."
"We are uniquely positioned to get our gas to the market at the highest priced market. We already know that this is the closest gas to New York City that is out there; and we are the only one with infrastructure [3 pipelines]. So when you hear about competition, in this area [Central New York], all they do have is a lease; a lease that lasts typically for three to five years, and then they have to pay a lot of money to renew it. What are they going to do in this environment with that? As we drill, we get to keep the leases for as long as we produce commercially from the well. So we are developing our land, and hopefully we don't have to pay too much daily rental or renewal rental when time comes. But our competitors is weakening by the day."
Video of entire presentation:
http://www.cik.no/norse/081111/081111_norse.php |
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Last Updated ( Friday, 19 December 2008 )
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