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Sunday from 4-7 bring the family and relax, enjoy the vibe of Chris Murray
Ska/Rocksteady/Reggae Music at Canteen Brewhouse :) #WeDoTheSkaABQ

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Again, Republicans always seem to be embroiled in these types of situations...Dems are too, but Republicans seem to have the gold trophy for unethical practices.

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The full article is here-> http://www.daily-times.com/story/money/industries/oil-gas/2017/08/27/hedging-threat-and-venezuela-oil/580510001/
"Hedging threat and Venezuela Oil
By energy expert Dr. Daniel Fine
"How can Saudi Arabia and OPEC behind them strike a second blow against shale oil producers in the Southwest? The first was the 2014-2017 price and market share war in which they raised production to put the higher cost Americans out of business.
This was partially abandoned at Algiers in a reversal to opt for a higher price for crude oil from $26 to the high $40 range. The marketing tool is lowering their production by 1,800,000 barrels per day.
The second blow is process.
The Saudi Arabian Oil Ministry and its state company, Saudi Aramco, negotiated in London with Glencore (world’s largest trading combined with mining), banks and hedge funds to see if they could reduce the liquidity necessary for American oil and gas shale producers to hedge forward to obtain a higher price.
Without access at only financial transactions costs to the “strip” or the forward price of oil at at least 10 percent higher than current prices “spot,” WPX and all the Permian-Delaware significant producers would not have survived the recent downturn in their current form.
If there is no difference between the price oil today and September 2018, which is called the “contango,” this would be a problem of liquidity – no entity taking the other side against the oil and gas producer on a contract. No cash would be bet against the oil and gas producer who sells forward one year. One side, for example, sells 70 percent of 2018 oil production at June 2018 prices in the present while the other side buys or covers, as the counterpart, the contract." #SaudiArabia.#OPEC,#SHALE

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Thank you, Martin Heinrich! We are proud New Mexicans to have a representative of your stature represent our beautiful state!

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