CURRENT MOON

Thursday, June 1, 2017

Red Solar Moon/ Red Cosmic Dragon - Crystal Rabbit Moon of Cooperation, Day 2





The future of refineries such as Exxon Mobil’s in Baton Rouge, Louisiana, could be going up in smoke because of low oil prices as the oil industry loses power.
The future of refineries such as Exxon Mobil’s in Baton Rouge, Louisiana, could be going up in smoke because of low oil prices as the oil industry loses power.



Oil Industry Power Is Slithering Away:

With oil prices remaining low, hopes of combating climate change through emissions reduction are improving as the oil industry shrinks


Big oil is getting smaller. Many of the oil services companies that are employed when new fields are being developed have been laying off workers, and oil companies have been writing down their assets.

The problem is the persistent low price of oil. Despite the best efforts of OPEC—the organisation representing the developing world’s oil producing countries—to limit production and put a squeeze on supplies, oil prices have risen only slightly.

This has put many potential fields in the category of being too expensive to exploit—particularly in the case of the tar sands of Canada, and in the Arctic and difficult-to-reach offshore locations.

One of the areas where small fluctuations in the price of oil make a big difference is in the expansion of the fracking industry in North America, which led to the glut of oil on the world market.

Oil Industry Majors

The U.S., once the world’s biggest importer of oil, has increased home production so much that it now provides more than 75 percent of its own oil. This has left OPEC countries looking for new customers.

The world’s oil field services companies, which rely on the oil industry majors such as Exxon, BP and Shell to employ them in exploiting new fields, have been shrinking as a result.

According to research by oil and gas consulting service Rystad Energy, about 300,000 people in the sector have lost their jobs between 2014 and 2016. That is about 35 percent of the total workforce of the world’s top 50 oilfield services companies.

It was the North American shale industry that took the largest single reduction, with two of the largest land drillers, Nabors Industries and Helmerich & Payne, announcing a series of staff cuts, resulting in an overall reduction of more than 50 percent.

International companies that tend to be working on larger long-term projects took more modest cuts of between 20 percent and 30 percent, but these are still substantial.

The oil industry is suffering from competition
from biofuels on one side and
electric vehicles on the other

The key to the future of many of these companies is what happens to the price of oil now. It had slumped to $40 a barrel before the latest OPEC production cut, then rose to nearly $60, before dropping back again to near $50.

The oil industry remains optimistic that these prices are short term, believing that the oil price will rise again above a threshold that makes investment in new fields worthwhile.

Oil and Gas Journal reported Audun Martinsen, Rystad vice-president of oil field service research, as saying that the North American companies were again recruiting more staff.

Rystad expects shale-focused operators to increase their spending by 30 percent in 2017, while it thinks offshore spending will grow, beginning in 2018, as more final investment decisions are made.

“With more projects offshore being revived in 2017, we expect the offshore layoffs to stabilise and start to increase later in 2017,” Martinsen said. “Already we see this trend in Norway, and it is only a question of time before it starts elsewhere.

“The race for the best hands and brains has started in the industry, and the companies that have laid off people in a responsible manner are likely to have a competitive edge going forward.”

More Efficient Vehicles

However, outside the oil industry, commentators are not so sure. The constant expansion of the oil majors for more than a century has gone into reverse. The industry is suffering from competition from biofuels on one side and electric vehicles on the other.

Motor manufacturers have been forced by regulation to make vehicles more efficient, and expanding markets such as India and China are moving fast to cut pollution.

This has led to the Institute for Energy Economics and Financial Analysis (IEEFA) warning investors to get out of ExxonMobil shares.

It says the decline in the price of oil, from a maximum of $147 to around $50, leaves the company unable to cover the massive costs of operations and investment. The empire is bound to shrink, taking the price of shares down with it.

According to the International Business Times, the company may be in a “death spiral.” Quoting the IEEFA report, it says that while Texas-based Exxon Mobil may be considered the world’s largest oil company, there are danger signs about its future.

The company was established in 1990 after a merger of separate companies, Exxon and Mobil. In April, Standard & Poor’s Global Ratings service demoted ExxonMobil’s perfect AAA credit score to AA+ for the first time since the Great Depression of the 1930s.

Most recently, the company has come under fire as a result of what critics call a lack of transparency with regard to the value of its reserve in the face of oil industry woes and climate change.

The New York Attorney General, Eric Schneiderman, and the U.S. Securities and Exchange Commission have both opened investigations into ExxonMobil’s accounting practices and how the company factored environmental change into its financial reporting.*

By Paul Brown





MULUC



Kin 9: Red Solar Moon


I pulse in order to purify
Realizing flow
I seal the process of universal water
With the solar tone of intention
I am guided by the power of life force.


You must develop complete sensitivity to everything in your environment, everything you experience is mental data.*


*Star Traveler's 13 Moon Almanac of Synchronicity, Galactic Research Institute, Law of Time Press, Ashland, Oregon, 2016-2017.









The Sacred Tzolk'in 




Muladhara Chakra (Seli Plasma)





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