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October 08, 2019 06:58 AM UTC

Tuesday Open Thread

  • 33 Comments
  • by: Colorado Pols

“The deterioration of a government begins almost always by the decay of its principles.”

–Montesquieu

Comments

33 thoughts on “Tuesday Open Thread

  1. Congrats again to Rep. Jason Crow for a powerful national media interview, this time on Morning Joe this morning.  He tore apart Trump’s impulsive decision to withdraw troops from Syria leaving the Kurds exposed and vulnerable to Turkish attacks (and threatening the release of thousands of ISIS prisoners).  Crow also wisely refused to take the bait to call for the impeachment of Trump now.  Instead, he called for an orderly process to investigate and obtain facts before voting on impeachment.  Such a refreshing and welcome change from Mike “Weasel” Coffman.

  2. Quick —  Call Dan Haley stat!  The devastation of the Colorado Oil & Gas industry wrought by SB-181 is nearly complete!  Oh, the horror!

    A global job-placement and recruitment company specializing in the energy and manufacturing industries has opened an office in Denver on the strength of the oil and gas activity in northern Colorado.

    Airswift, which has 70 offices in more than 50 countries, opened an office in downtown Denver about six weeks ago, drawn by “the buzz” about the Denver-Julesburg Basin, said Paul Carr, the company’s regional manager in the Rockies.

    “Our industry is all about spotting trends, about spotting where the next big project is going to be,” Carr said. “There was a lot of buzz about how the D-J Basin could be the next Permian, so we started working with a few clients up here and saw a big gap in the market.”

    Colorado oil production is expected to continue setting annual records for at least the next half-dozen years, according to BTU Analytics. Production is forecast to jump about 39% from 2018 to 2024, when the consulting firm expects nearly 250 million barrels of oil to be extracted.

     

  3. Halliburton in Grand Junction is announcing big layoffs, nationwide apparently. At least their press release blamed "market forces" instead of regulation.

    Hydraulic fracturing has continued apace as the thousands of drilled holes get fracked over and over until they are " finished".

    It is just impossible to sustain a Natgas price that makes Piceance Basin gas profitable. It has hovered at or below $3.00 / mcf for most of the last few years. The cost of production here, last I heard was about twice that. Were it not fot some oil and gas liquids, there would be no profit to be had at all in Northwest Colorado. Weld county and the other fields, I know nothing about.

    I think Halliburton and other completion firms are looking elsewhere for profits. Schlumberger left long ago, as far as I can tell.

    1. That has not stopped industry cheerleaders Janet Rowland, who's seeking a recycled run to county commissioner, and current comish Rose Pugliese, who is said to be interested in succeeding the reptilian Ray Scott in the state Senate.

      The two fan girls are blaming Polis and 181 for adding regs fatal to the Piceance. Gas prices and the nature of the field have nothing to do with it, they said. Just Polis.

  4. CPR report has

    • Sen. Cory Gardner … brought in $2.45 million during this latest fundraising period…. more than $6.5 million on hand
    • Former Gov. John Hickenlooper … raised $2.1 million.

     

    1. For further reading: 

      Capital, Piketty, Thomas  

      Corrado Gini: "The Scientific Basis of Fascism," Political Science Quarterly, Vol. 42, No. 1 (Mar., 1927), pp. 99–115 (17 pages) at JSTOR

      1. : wealth concentration leads to … further concentration and lower GDP growth

         

        The math don't lie.

        So then read: 
        Coming Plutonomy: Citi Private Client group letter to investors

        Krugman, Paul yesterday

        And realize it's te end of democracy as we know it – and it's no accident or mystery

         

            1. 😐

              You have to want it.

              y = F(K,L(a))

              Economic output (y) is equal to some positive function of capital (y) and labor (L) where labor is positively affected by innovation (a) .

              The answer to how to divide y has rarely had a conscious, intentional answer.
              Yes, Lincoln was right that labor comes first.
              But Capital doesn't have to sleep or eat.
              When the US created the Federal Reserve the idea was "9-3-3" (in the office by nine, lend at 3%, on the golf course by 3. And bankers were still routinely the wealthiest ones in town. (They had the most windows.)

              The accumulation of wealth adheres mostly to K. ANd over time it creates a greater and greater disparity. It's become common to look at deciles- I've always preferred quintiles.

              Greater disparity (income or wealth) leads to slower growth of y. At least this is true in every economy for which there is data.
              Adam Smith was right. So was Corrado Gini, and Mother Jones, and Piketty.

              Marx, Hayek, Rand  – hacks.
              Laffer, Say, and all supply siders  – worse than hacks. (The data is not unclear – they fake it or ignore it.)

              I love Elizabeth Warren. I question her electability, in part because the top quintile (and those who aspire to it) are going to be nervous about a rising tax bill.
              Hardly anyone is rich enough to pay the estate tax – but a lot of people think they will be.

              Tax the wealth, and the income, and they will create new ways to shelter it.

               

              anyhoo – bongo that, Gilligan.
               

              1. I’m guessing you stayed at a Holiday Inn Express last night??  I think you missed one critical element: ((e)) Electoral College hostage payments. 

    1. In the 32 years I was a registered Republican, your mom was often one of my inspirations.  Alas, moderate Republicans today are one with Nineveh and Tyresad

    2. Nice article you linked to … she sounds like a gem.

      30 years in a legislature …. her tolerance of meetings must be legendary. 30 years of ANY ONE THING is remarkable.

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