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Post by siriusnews on Aug 25, 2011 11:30:22 GMT -5
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Post by siriusnews on Aug 25, 2011 11:31:42 GMT -5
CMKX won for the 58th straight day on the web site www.theconservativenews.com make sure you keep the streak going by clicking on link and voting for CMKX |
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Post by siriusnews on Aug 25, 2011 11:32:20 GMT -5
I hope you all watched the one hour CNBC show last night with Jim Cramer on the Bakken oil
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Post by siriusnews on Aug 25, 2011 11:33:57 GMT -5
anyone hear any info about that audio from 10 months ago ( Oct 19th, 2010 ) in regards to information about Highest Authority?  ?? |
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Post by siriusnews on Aug 25, 2011 11:38:25 GMT -5
so here we sit and wait on the ruling of the ( Stay submitted Aug 22nd, 2011 I can only think that the decision needs to be made within 7-14 days at the most, if not much sooner. I would think we here before Friday, but who knows. after that we see if Al Hodges is silenced or he is allowed to file his opening Brief. I do not see how they will not let him say his peace one more time, but then again this is CMKX world, and anything is possible. The most craziest story any of us have even been involved in and would take a lifetime to explain with all the spins, mis-information, etc. etc. my head is spinning and we follow the cmkx story or at least try to, how the hell does the average Jane or joe begin to understand this complicated story.
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Post by siriusnews on Aug 25, 2011 18:15:41 GMT -5
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Post by siriusnews on Aug 25, 2011 18:19:37 GMT -5
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Post by siriusnews on Aug 25, 2011 23:14:55 GMT -5
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Post by siriusnews on Aug 25, 2011 23:29:48 GMT -5
WHY THIS IS IMPORTANT
As the recent article "SEC Builds New Tips Machine to Catch the Next Madoff" suggests, the Securities and Exchange Commission (SEC) appears to have corrected the mistakes it made in the Madoff debacle and is currently implementing an efficient new system to handle the tips and complaints it receives concerning potential frauds.
But unfortunately for the rest of the investors the SEC is mandated to protect, the SEC only appears interested in correcting its past mistakes and implementing changes after it has been exposed as being grossly negligent and possibly criminally complicit, and therefore is subsequently forced to change, as was the case in the Madoff debacle.
Otherwise, the SEC only seems interested in protecting well-connected people and the entities they represent, the larger securities firms, its cronies, and in covering up for its gross negligence and possible criminal complicity as evidenced infra.
***The SEC and SEC Enforcement Division Attorneys, John M. McCoy, Molly M. White, and Leslie Hakala (hereinafter the SEC Enforcement Division Attorneys will collectively be referred to as "SEC Attorneys") are grossly negligent and possibly criminally complicit for breaching their mandated duties -- which are to oversee the securities markets, enforce the federal securities laws, and protect investors -- pertaining to Civil Action No. 08-CV-0437, Securities and Exchange Commission vs. CMKM Diamonds, Inc. et al, Complaint, 4-7-08, United States District Court, District of Nevada (Civil Action), which pertains to the pump and dump fraud (fraud) of the previous CMKM management (fraudsters); the SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for causing said fraud to continue and perpetuate, and therefore they contributed to the losses suffered by CMKM victims; furthermore, the SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for causing said Civil Action to be rife with contradictions, inconsistencies, and discrepancies, all of which ultimately render it incomplete, inaccurate, and inadequate.
1. The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for their disregard of the findings of their investigations and for their disregard of the red flag pertaining to said fraud:
In a fax dated 5-26-03, from Lindsey S. McCarthy, staff attorney for the SEC, to 1st Global Stock Transfer, McCarthy mentions James Kinney, a subsequent defendant in said Civil Action, which proves the SEC and the SEC Attorneys were aware of James Kinney's suspicious activities pertaining to CMKM five years before they filed said Civil Action against him.
In 2-8-05, the SEC and the SEC Attorneys investigate the involvement of Silver State Bank in CMKM's pump and dump fraud, which proves they were aware of the pump and dump fraud more than three years before they filed said Civil Action.
The SEC and the SEC Attorneys were aware of a twentyfold increase in the average trading volume in CMKM stock from 8-03 to 4-05, which proves they was aware of the suspicious activities almost five years before they filed said Civil Action.
If the SEC and the SEC Attorneys had performed their mandated duties with even a modicum of due care, they would not have disregarded the findings of their own investigations and the red flag, both of which caused the fraud to continue and perpetuate; instead, they would have regarded the pertinent evidence which would have reasonably led to their charging and prosecuting the fraudsters in a timely manner.
2. The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for making allegations in said Civil Action that contradict the sworn testimonies of the infra deposers at their SEC depositions:
In said Civil Action, the SEC and the SEC Attorneys allege that "To divert attention from their own dumping of CMKM shares, Casavant persuaded CMKM's investors that the reported high trading volume in CMKM stock reflected extensive "naked short selling" rather than ordinary stock dilution."
According to the sworn testimony of former CMKM Attorney Donald Stoecklein at his 1-24-06 SEC Deposition, Donald Stoecklein testifies that Jim DeCosta, a naked short expert from Oregon with 25 years experience, told both current CMKM Attorney Bill Frizzell and him that a 14 to 1 short position exists in CMKM stock.
Furthermore, Donald Stoecklein testifies that they obtained a NOBO list from Automatic Data Processing and the number of CMKM shares on that NOBO list exceeded the number of CMKM shares on the list of First Global Stock Transfer, which in turn means that naked short sellers exist.
According to the sworn testimony of Bill Frizzell at his 1-06-06 SEC Deposition, Bill Frizzell testifies repeatedly that CMKM was illegally naked shorted.
If the SEC and the SEC Attorneys had performed their mandated duties with even a modicum of due care, they would have subpoenaed Jim DeCosta for his evaluation of the short position that exists in CMKM's stock and subpoenaed Automatic Data Processing for CMKM's NOBO list, both of which could have reasonably led to the discovery that "the reported high trading volume in CMKM stock" could have "reflected extensive "naked short selling"" in addition to "ordinary stock dilution;" and they would have subsequently added the illegal naked short sellers as defendants in said Civil Action or filed a new civil action against them and prosecuted them on behalf of CMKM victims.
3. The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for making allegations in said Civil Action in which discrepancies exist:
In said Civil Action, the SEC and the SEC Attorneys allege "Over a twenty-month period, CMKM improperly issued up to 622 billion shares of purportedly unrestricted stock based on both written authorizations and attorney opinion letters."
Furthermore, the SEC and the SEC Attorneys allege that "Using approximately 34 different brokerage accounts at NevWest, Edwards sold almost 260 billion shares of CMKM stock from March 2003 through May 2005, generating proceeds in excess of $53.3 million."
Unfortunately for the SEC and the SEC Attorneys, the discrepancy between 622 billion shares and 260 billion shares leaves approximately 362 billion purportedly registered/unrestricted CMKM shares that they fail to account for in said Civil Action.
Because John Edwards was the only defendant in said Civil Action who utilized accounts at NevWest to sell his unregistered/restricted shares, the SEC and the SEC Attorneys obviously can't account for those 362 billion purportedly registered/unrestricted CMKM shares without implicating the larger securities firms such as Knight Trading Group, Ameritrade, E-Trade, and Jeffries and Company.
Moreover, NevWest is not a self-clearing firm. Instead, it must clear its certs through clearing firms such as Wells Fargo and Dain Rauscher that have a contractual relationship with the Depository Trust and Clearing Corporation.
If the SEC and the SEC Attorneys had performed their mandated duties with even a modicum of due care, they would have accounted for the entire 622 billion shares, which could have reasonably led to the discovery that the larger securities firms and clearing firms were implicated in the fraud; and they would have subsequently added them as defendants in said Civil Action or filed a new civil action against them and prosecuted them on behalf of CMKM victims.
4. The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for their disregard of the findings of their investigation regarding the involvement of Silver State Bank in said fraud:
Mark Faulk, former CMKM CEO, wrote an article entitled, "Silver State Bank: What’s Deposited in Vegas Doesn’t Stay in Vegas."
Excerpts from said article:
"In yet another bizarre development in the saga of CMKM Diamonds, better known as CMKX, one of the largest financial frauds in history, Andrew McCain, the son of presumptive Republican presidential candidate John McCain, resigned from the Board of Directors of Henderson, Nevada based Silver State Bank, the bank where hundreds of millions of dollars was deposited as it was stolen from CMKX shareholders.
"But a little diamond mining company from Canada that turned out to be the biggest penny stock fraud in history might become a major problem for McCain’s campaign as well. Insiders with CMKX defrauded over 50,000 shareholders of in excess of $250 million. A large portion of that money was run through a single Silver State Bank branch in Las Vegas. In all, former CMKX CEO Urban Casavant and reputed mastermind John Edwards (no, not that John Edwards) opened over 100 bank accounts at Silver State, and ran tens of millions of dollars through the bank."
John Smith, columnist for the Las Vegas Review Journal, submitted on 2-8-05, a column entitled, "Company dangles lure of diamonds, but transactions hook SEC."
Excerpts from said column:
"The Securities and Exchange Commission is downright fascinated with CMKM and has begun to probe the company's numerous Southern Nevada business transactions.
"The SEC has subpoenaed bank records related to CMKM's local transactions, an institutional source confirms. The company maintained nearly 100 accounts at a local branch of Silver State Bank alone. A bank employee who handled CMKM's accounts is no longer employed after suspicious activity involving a continuing circle of cashier's checks was uncovered.
"By one informed estimate, CMKM is suspected of moving up to $64 million through its Silver State accounts."
According to the sworn testimony of Donald Stoecklein in his 01-24-06 SEC Deposition, Donald Stoecklein testifies that Silver State Bank was the object of criminal proceedings.
If the SEC and the SEC Attorneys had performed their mandated duties with even a modicum of due care, they would have regarded the findings of their own investigation, which could have reasonably led to the discovery that Silver State Bank and possibly Andrew McCain were implicated in said fraud; and they would have subsequently added them as defendants in said Civil Action or filed a new civil action against them and prosecuted them on behalf of CMKM victims.
5. The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for their failure to investigate the allegations of the "two broker dealer customers of Jefferies:"
According to the "Jeffferies Letter," dated 5-6-05, Jefferies and Company failed to report certain trades in CMKM in 3-04, which amounted to 111 billion CMKM shares, and involved "two broker dealer customers of Jefferies" who requested that trades in CMKM be settled "Ex-Clearing," which are trades that are cleared outside a clearing house and therefore are unreported. The "two broker dealer customers of Jefferies" allege they were long sellers.
If the SEC and the SEC Attorneys had performed their mandated duties with even a modicum of due care, they would have investigated the allegations of the "two broker dealer customers of Jefferies," which could have reasonably led to the discovery that the "two broker dealer customers of Jefferies" were illegal "naked short sellers" rather than "long sellers;" and they would have subsequently added Jefferies and Company and the "two broker dealer customers of Jefferies" as defendants in said Civil Action or filed a new civil action against them and prosecuted them on behalf of CMKM victims.
6. The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for their disregard of the sworn testimony of D. Roger Glenn at his SEC depositions:
The SEC and the SEC Attorneys take the sworn testimony of D. Roger Glenn in two depositions pertaining to the fraud that was perpetrated by the fraudsters.
According to the sworn testimony of D. Roger Glenn at his 07-19-06 SEC Deposition, D. Roger Glenn testifies that he worked as an Enforcement Division Attorney for the SEC in 1980 and 1981.
D. Roger Glenn further testifies that only Urban Casavant requested that he prepare opinion letters.
D. Roger Glenn's testimony was a lie because Helen Bagley, owner of First Global Stock Transfer (CMKM's transfer agent) also requested that he prepare opinion letters.
D. Roger Glenn further testifies that he wrote an opinion letter that authorized Nevada Minerals to receive 2.7 billion nonrestricted shares of CMKM stock that should have been issued on 9-8-02.
D. Roger Glenn's testimony was a lie because Nevada Minerals wasn't even incorporated until 12-19-03.
CMKM waived its attorney/client privilege. Bill Frizzell, attorney for CMKM, was present at the 10-23-07 SEC Deposition of D. Roger Glenn.
According to the sworn testimony of D. Roger Glenn at his 10-23-07 SEC Deposition, D. Roger Glenn testifies that First Global Stock Transfer would return as CMKM's transfer agent again only if Helen Bagley didn't have to deal with Brian Dvorak, whom she allegedly disliked. D. Roger Glenn testified that she had no concerns about the validity of Dvorak's opinion letters.
D. Roger Glenn's testimony was a lie as evidenced by the following letter, dated 7-29-04, from Helen Bagley to D. Roger Glenn:
"I have enclosed several legal opinions that were done by Mr. Dvorak for CMKM Diamonds, Inc. I would appreciate if you would review these opinions and give First Global Stock transfer a letter to the fact that these opinions are valid. This was a point I made to Mr. Casavant when we accepted back CMKM Diamonds that we would want your approval on any of Mr. Dvorak's letters."
Despite the following red flags:
Helen Bagley alleges Brian Dvorak was issuing CMKM shares without authorization;
D. Roger Glenn admits in his testimony that he never had another client neglect to issue shares for over 2 years;
Alan Treffry, a CMKM shareholder, alleges fraud;
CMKM was issuing shares to 300 people to whom it had neglected to issue shares two years previously;
D. Roger Glenn felt it was unnecessary to check the validity of the documentation that Brian Dvorak used to write his opinion letters, never contacted the recipients of the share issuances to validate the issuances, never felt that CMKM could have been lying about the share issuances.
According to the sworn testimony of Donald Stoecklein in his 01-24-06 SEC Deposition, Donald Stoecklein testifies that Brian Dvorak lacked a basis for his opinion letters.
If the SEC and the SEC Attorneys had performed their mandated duties with even a modicum of due care, they would have regarded the sworn testimony of D. Roger Glenn at his SEC depositions, which could have reasonably led to the discovery that D. Roger Glenn was implicated in the fraud; and they would have subsequently added him as a defendant in said Civil Action and prosecuted him on behalf of CMKM victims.
7. The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for making allegations in the infra Summary Judgments pursuant to said Civil Action that contradict the infra Regional Triaxial Aeromagnetic Survey Assessment Work Report (Drilling Report) and the expert evaluation of N. Ralph Newson, M.Sc., P. Eng., P.Geo., (Newson):
On 6-24-09, the SEC and the SEC Attorneys file Motion for Summary Judgment Against Defendant John Edwards (#991), Motion for Summary Judgment Against Defendant Daryl Anderson (#102), and Motion for Summary Judgment Against Defendants Kathleen and Anthony Tomasso (Summary Judgments) pursuant to said Civil Action.
In said Summary Judgments, the SEC and the SEC Attorneys allege, "CMKM provided investors with phony maps and fabricated videos of alleged mineral claims in North and South America."
On 5-16-05, CMKM announces in a PR that it possesses the Drilling Report prepared by William Jarvis (Jarvis) on the Fort a la Corne Diamond Project pertaining to CMKM's valuable mineral claims in Saskatchewan, Canada.
The Drilling Report was commissioned for CMKM by 101047025 Saskatchewan Ltd. Jarvis was asked to report on and make recommendations for the kimberlite exploration program. The scope of work completed includes:
1. a review of the Geological setting as it relates to kimberlite and diamond exploration;
2. an examination of the geological and data provided by the CMKM;
3. a review of published geological reports and maps;
4. a visit to the area of the concession.
The following are excerpts from the Drilling Report by Newson on the Fort a la Corne Diamond Project:
"Drilling results and additional ground magnetic and gravity surveys have shown the best known kimberlite bodies to be bedded, and to have a very different shape from most known kimberlite bodies. In most of the well-known diamond mines in Africa, for example, and in those in the NWT in Canada, the upper portions of the kimberlites bodies have been eroded, leaving only the feeder pipe, which has a "carrot" shape, getting smaller in diameter with depth. However, in the Fort à la Corne swarm, the tops of the kimberlitic volcanic edifices are completely preserved, and they are shaped more or less like a soup bowl, with two larger horizontal dimensions, and one smaller vertical dimension. Several of these have an inferred geological resource (based on a few holes and on geophysical modeling) in excess of 100 million tonnes, one has nearly a billion tons, and one group of five which are close together, or perhaps coalescing, contain about 2 billion tons of kimberlite. There are thus huge volumes of kimberline within a few hundred metres of the surface." [emphases added by author]
"The Fort à la Corne swarm of kimberlitic bodies is the largest swarm known in the world, and some of the bodies are the largest known such bodies in the world." [emphases added by author]
If the SEC and the SEC Attorneys had performed their mandated duties with even a modicum of due care, they would have subpoenaed both Jarvis and Newson and investigated the Drilling Report, all of which could have reasonably led to the discovery that the maps were not "phony," the videos were not "fabricated," and the mineral claims were not "alleged;" and they would have subsequently secured and validated CMKM's valuable mineral claims on behalf of CMKM shareholders.
***The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for breaching their mandated duties pertaining to Grand Jury Superseding Indictment 2-09-CR-00132-RLH-RJJ, United States of America vs. John M. Edwards et al, 5-27-09, United States District Court, District of Nevada, and Second Superseding Indictment 2-09-CR-00132-RLH-RJJ, United States of America vs. John M. Edwards et al, 3-24-10, United States District Court, District of Nevada, both of which pertain to said fraud. Their gross negligence and possible criminal complicity cause said Superseding Indictments to be rife with contradictions, inconsistencies, and discrepancies, all of which ultimately render them incomplete, inaccurate, and inadequate.
1. The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for their failure to provide the Grand Jury with the following names to subpoena -- Jim DeCosta, and Broadridge -- and with the 1-24-06 SEC Deposition of Donald Stoecklein and the 1-06-06 SEC Deposition of Bill Frizzell, all of which pertain to CMKM's being illegally naked shorted;
In its said Grand Jury Superseding Indictment, the Grand Jury charges that: "...To create the appearance of an active and established market for CMKM stock, and to disguise the fact that the conspirators were virtually the only sellers of CMKM stock..."
If the SEC and the SEC Attorneys had performed their mandated duties with even a modicum of due care, they would have provided the Grand Jury with the supra names to subpoena and said depositions to investigate, all of which could have reasonably led to the discovery "that the conspirators were" not "virtually the only sellers of CMKM stock...;" and the Grand Jury would have subsequently added the illegal naked short sellers, the larger securities firms, and clearing firms as defendants in said Superseding Indictment and the United States Department of Justice, District of Nevada (DOJ), would be prosecuting them on behalf of CMKM victims; or the DOJ would have filed a new criminal action against them and would be prosecuting them on behalf of CMKM victims.
2. The SEC and the SEC Attorneys are grossly negligent and possibly criminally complicit for their failure to provide the Grand Jury with the sworn testimony of D. Roger Glenn at his SEC depositions in which they caught him telling numerous lies:
In its Second Superseding Indictment, the Grand Jury lists additional defendants, but fails to list D. Roger Glenn as a defendant.
If the SEC and the SEC Attorneys had performed their mandated duties with even a modicum of due care, they would have provided the Grand Jury with the sworn testimony of D. Roger Glenn at his SEC depositions, which could have reasonably led to the discovery that D. Roger Glenn was implicated in said fraud; and the Grand Jury would have subsequently added D. Roger Glenn as a defendant in its Second Superseding Indictment, and the DOJ would be prosecuting him on behalf of CMKM victims
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Post by siriusnews on Aug 26, 2011 10:55:27 GMT -5
Virtual DJ “Denise” Debuts Radio Show, Listen
Source: prweb.com
She tells jokes, gives the weather and traffic reports, and just landed a part in the new movie Radio Wars, directed by Sandra Mohr. Not bad for the first day at work.
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Post by siriusnews on Aug 26, 2011 10:56:05 GMT -5
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Post by siriusnews on Aug 26, 2011 11:06:17 GMT -5
Dear Petition Signers: The Petition Letter is starting to EXPLODE. The number of signers is 32 and counting, one of which is Allan Treffry. Furthermore, signers are beginning to leave relevant comments. And now the regular petition signers of Change can access the Petition Letter from Change's homepage: homepage>Criminal Justice>Most Recent. www.change.org/ I posted the link to the Petition Letter in Granny's Kitchen. tfant53.proboards.com/index.cgi?action=newestthreads Please somebody post the following in the other CMKM forums: The Securities and Exchange Commission only appears interested in correcting its past mistakes and implementing efficient new systems AFTER it has been exposed as being GROSSLY NEGLIGENT and possibly CRIMINALLY COMPLICIT, and therefore is subsequently forced to change, as was the case in the Madoff debacle. You can help to expose the GROSS NEGLIGENCE and possible CRIMINAL COMPLICITY of the SEC pertaining to CMKM Diamonds, Inc., by signing a Petition Letter. You can read the Overview and the Petition Letter and sign the Petition Letter by clicking the following link: www.change.org/petitions/united-states-department-of-justice-district-of-nevada-correct-your-past-mistakes-and-implement-efficient-new-systems The Petition Letter is a way to get the evidence of CMKM's being illegally shorted and the proof of CMKM's valuable mineral claims into the upcoming criminal trial, Superseding Indictment 2-09-CR-00132-RLH-RJJ, United States of America vs. John M. Edwards et al, 5-27-09, United States District Court, District of Nevada. Therefore, signing the Petition Letter is a no-brainer. Thank you, Robert |
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Post by siriusnews on Aug 26, 2011 15:21:07 GMT -5
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Post by siriusnews on Aug 26, 2011 16:19:23 GMT -5
please go to the cmkx shareholder web page and click on the briefcase then click on alabama Tom's great report 366 pages.
here is page 104 read page 104 about the OG and Bill Frizell
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Post by siriusnews on Aug 26, 2011 16:20:47 GMT -5
5000 shareholders paid $50 = $250,000
then another
2500 shareholders paid $25 each = 62,500
total of $312,500 paid to Bill Frizell
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Post by siriusnews on Aug 26, 2011 16:37:14 GMT -5
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Post by siriusnews on Aug 26, 2011 21:46:27 GMT -5
www.scribd.com/doc/63271855/Gewerter-Appeal has to do with ruling in regards to getting bank records off this Lawyer who was sent $25K by Edwards. nothing in regards to us waiting for Judge's decision on the Stay motion
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Post by siriusnews on Aug 26, 2011 21:52:52 GMT -5
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Post by siriusnews on Aug 26, 2011 21:56:28 GMT -5
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Post by siriusnews on Aug 26, 2011 22:27:55 GMT -5
If you want to help, copy and paste the following and post it in any forum in which you are a member and email it to your email list. I'd like to get at least 100 signatures in the next few days: Petition the SEC to Correct its Past Mistakes The Securities and Exchange Commission only appears interested in correcting its past mistakes and implementing efficient new systems AFTER it has been exposed as being GROSSLY NEGLIGENT and possibly CRIMINALLY COMPLICIT, and therefore is subsequently forced to change, as was the case in the Madoff debacle. You can help to expose the GROSS NEGLIGENCE and possible CRIMINAL COMPLICITY of the SEC pertaining to CMKM Diamonds, Inc., by signing a Petition Letter. You can read the Overview and the Petition Letter and sign the Petition Letter by clicking the following link: www.change.org/petitions/united-states-department-of-justice-district-of-nevada-correct-your-past-mistakes-and-implement-efficient-new-systems The Petition Letter is a way to get the evidence of CMKM's being illegally shorted and the proof of CMKM's valuable mineral claims into the upcoming criminal trial pertaining to Superseding Indictment 2-09-CR-00132-RLH-RJJ, United States of America vs. John M. Edwards et al, 5-27-09, United States District Court, District of Nevada. Therefore, signing the Petition Letter is a no-brainer. If you try you might fail; if you don't try you're guaranteed to fail. |
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Post by siriusnews on Aug 26, 2011 23:25:36 GMT -5
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Post by siriusnews on Aug 27, 2011 15:19:16 GMT -5
the digital briefcase and its 366 page report. save to your favorite place. feel free to research some great DD put together by alabama Tom and made for you to access at a click of a button by Cameron and the cmkx web site. here is the link. www.cmkxshareholder.com/CMKX/THE_BRIEFCASE.html |
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Post by siriusnews on Aug 28, 2011 13:49:32 GMT -5
A proposed 1,700-mile pipeline that would transport Canadian crude oil across a swath of eastern Montana cleared a major regulatory hurdle Friday, as a federal environmental impact statement (EIS) said the pipeline would have no major environmental impacts. The EIS by the U.S. State Department, nearly three years in the making, sets the stage for a final review by federal agencies on whether the Keystone XL Pipeline is “in the national interest” and should get a permit approved by President Barack Obama. The pipeline proposed by TransCanada also has been the target of environmental protesters near the White House earlier this week, leading to dozens of arrests. Canadian oil giant Trans Canada, which is proposing the pipeline, and oil producers in Montana on Friday hailed the EIS as a big step toward the underground line’s eventual construction, which they said will help the United States become less dependent on oil from outside the continent. “We talk about getting our oil from domestic sources or at least America,” said Dave Galt, executive director of the Montana Petroleum Association. “It’s a positive step toward energy security. … This pipeline is important to America and it’s important to (Montana producers).” The Keystone XL line would have a loading terminal near Baker, giving eastern Montana oil producers another route to ship their product, he added. Yet critics of the pipeline, including area landowners and environmental groups, said they feared the EIS overlooked safety and reclamation requirements they believe are needed. Irene Moffett, a farmer whose property south of Glendive would be crossed by the pipeline, said Friday the original plans and review didn’t require an adequate emergency-response plan or reclamation techniques. “With the pastureland, they just plan on shoving all that (dirt) back in and stacking it in a hole,” she said. “That’s not going to do anything to get grass to grow worth a darn.” However, Moffett said she hasn’t had a chance to read the final, 1,000-plus pages of the final EIS, to see if it might have addressed some of her earlier concerns. “I really doubt it, but I just don’t know yet,” she said. The EIS does include a list of 57 conditions that federal pipeline regulators say should be in the presidential permit. The conditions address everything from type of construction materials to pressure and temperature limits to reporting requirements for leaks. The list didn’t appear to include an emergency response plan. The $7 billion pipeline would transport up to 830,000 barrels of oil a day from the tar sands in northern Alberta to oil-refining facilities in Texas. It would enter Montana at the U.S.-Canadian border station of Morgan, north of Malta, and run southeast to near Baker, before crossing into South Dakota. The line also cuts through Nebraska, Kansas and Oklahoma before reaching east Texas. TransCanada hopes to begin construction on the 3-foot-diameter pipeline next year and have it operating by the end of 2013. In Montana, the pipeline needs a “certificate of compliance” under the state Major Facility Siting Act before it can go forward. Tom Ring of the state’s Environmental Management Bureau said Friday the state has to wait at least 15 days after a final EIS before issuing a certificate, but that it also could wait until a final “record of decision” by the U.S. State Department or other federal agencies. The state certificate would have environmental conditions attached to it, and the state would have to review sites where the pipeline crosses under major streams or rivers, such as the Missouri and the Yellowstone, he added. U.S. Sen. Max Baucus, D-Mont., said Friday he’s pleased the project cleared “this important hurdle, because the pipeline will support Montana jobs and help ease our dependence of Middle East oil.” He also encouraged Montanans to make comments in the coming days on environmental and safety concerns. One of several hearings on the national-interest determination is scheduled Sept. 27 in Glendive. The EIS reviewed the proposed pipeline’s impact on wildlife, agriculture, rivers, groundwater, air quality, local communities and greenhouse gases. It said the impacts are not significant – and that the pipeline wouldn’t lead to dramatic increases in greenhouse gases, simply because it’s transporting and encouraging production of oil from the Alberta tar sands. Protesters have been outside the White House since last weekend, saying the pipeline isn’t safe and that the tar-sands development is harming the environment. Among those arrested this week was Canadian actress Margot Kidder, who lives in Montana. Environmental groups on Friday denounced the EIS as a “rubber stamp” of the pipeline proposal and suggested it will be challenged in court. Galt, of the Montana Petroleum Association, said the makeup of Canadian oil isn’t much different than what the United States imports from places like Venezuela or other countries, and that it’s good to import oil “from a friendly ally.” Eastern Montana oil producers also should be able to get a better price for their oil once the pipeline is built, he added, because it will free up capacity on the current pipeline system. Copyright 2011 helenair.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Posted in News, Local on Saturday, August 27, 2011 12:34 am Read more: m.helenair.com/news/us-oks-canadian-pipeline-into-mt/article_c62ebe50-d076-11e0-a3cf-001cc4c002e0.html#ixzz1WLovFnS1 |
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Post by siriusnews on Aug 28, 2011 13:51:18 GMT -5
HOUSTON (CNNMoney) -- In the grasslands of western North Dakota, one of the country's richest oil men is using a controversial gas drilling technology to develop what could be the biggest domestic oil discovery in the last 40 years.
The oil lies underground in a shale rock formation stretching across western North Dakota, northeast Montana, and into Canada's Saskatchewan Province known as the Bakken.
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Harold Hamm
Thanks to hydraulic fracturing or "fracking" and high oil prices, oil production in the Bakken has exploded.
It went from a mere 3,000 barrels a day in 2005 to 225,000 in 2010, according to the government's Energy Information Administration.
EIA thinks it will produce 350,000 barrels a day by 2035, but most analysts think that estimate is far too low.
According to Harold Hamm, president of the energy company Continental Resources, it could produce a million barrels a day by 2020.
That's only a fraction of the 9.8 million barrels a day the country produces and an even smaller fraction of the 19.2 million it consumes, but it's significant.
Forget $100 oil. $100 uranium is a real problem.
"This is a giant field," said Hamm, a 65-year old self-made oil man whose parents were Oklahoma sharecroppers.
Today, Hamm's wealth is estimated by Forbes to top $5 billion and he's thought to own more oil and gas than any other American.
An American oil boom: Nationwide there are a handful of shale oil fields that could contain as much as 17 billion barrels of oil, according to a recent study from IHS CERA. That's more than the country's largest oil field, Alaska's Prudhoe Bay.
"It's going to have a major impact on the United States reducing imports," Scott Sheffield, head of Pioneer Natural Resources Company, said Tuesday during a packed roundtable discussion on shale oil at CERA's annual energy conference in Houston.
Sheffield estimates that with the new technology, the country could produce an extra 2 million barrels a day from both the Bakken and from shale oil trapped in existing traditional oil fields.
"If we get 2 million barrels a day, that could have a major impact on world oil prices," said Guy Caruso, the former head of the EIA and now an advisor at the Center for Strategic and International Studies.
The quarter-million barrels a day currently being produced from the Bakken is already partly responsible for the glut of oil seen in Cushing, Okla., one of the United States' main oil storage and distribution hubs. The glut has helped distort U.S. oil prices in relation to the worldwide market.
It has also already contributed to a modest drop in foreign oil imports.
Plus it's creating jobs.
North Dakota State University estimates the oil workforce has gone from just over 5,000 in 2005 to over 18,000 in 2009.
Hamm said the industry now employs 30,000 in the state, and if production does hit a million barrels a day, it could employ over 100,000 people there.
Hamm's company, Continental, is not the only one operating in the Bakken.
Bakken challenges: Getting to a million barrels a day won't be easy, but it's already a lot of oil.
And that contributes to one of the major challenges: Moving oil out. "There's not a market for all that oil in North Dakota," said Adam Sieminski, chief energy economist at Deutsche Bank. Pipelines will need to be built, and that takes time.
Another challenge: Convincing the public the fracking technology is safe.
Extracting oil from shale uses the same process as extracting gas from shale: Injecting massive amounts of water, sand and chemicals deep underground at high pressure to crack the rock and let the oil or gas flow.
Many fear oil, gas or fracking chemicals could migrate up to the water supply. Many water wells have already been contaminated by the drilling process and fracking fluid spills. Disposal of used fracking material is another concern.
It doesn't appear that these concerns, which have so far kept wide-scale fracking out of New York state, are as prevalent in North Dakota.
"It's not drawing the same ire as it is in New York and Pennsylvania," said Jeremy Nichols, climate and energy director for the environmental group WildEarth Guardians. "But there are concerns."
Hamm, like most in the oil industry, says fracking is a time-tested practice that poses no danger.
He downplays the water issue in dry North Dakota and says his workers are developing ways to use less water.
Even pipelines don't seem to be an issue. Hamm said he's moving most of his oil out by rail.
For Hamm, the biggest challenge is simply the drilling. Getting a drill bit to go where you want it to at 10,000 feet underground is no easy feat.
Finding qualified workers is also hard.
This is all good news for workers in North Dakota and those trying to get the U.S. off foreign oil, but is an alarming development for people worried about the dangers of fracking.
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Post by siriusnews on Aug 28, 2011 13:52:56 GMT -5
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Post by siriusnews on Aug 28, 2011 13:53:50 GMT -5
The $7 billion pipeline would transport up to 830,000 barrels of oil a day from the tar sands in northern Alberta to oil-refining facilities in Texas. It would enter Montana at the U.S.-Canadian border station of Morgan, north of Malta, and run southeast to near Baker, before crossing into South Dakota. The line also cuts through Nebraska, Kansas and Oklahoma before reaching east Texas. Read more: camrhon.proboards.com/index.cgi?action=display&board=sirius&thread=9709&page=1#52588#ixzz1WLq9iwFR |
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Post by siriusnews on Aug 28, 2011 13:55:14 GMT -5
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Post by siriusnews on Aug 28, 2011 13:55:48 GMT -5
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Post by siriusnews on Aug 28, 2011 23:04:19 GMT -5
Canada and United States to build 1700 mile pipeline.http://news.google.com/news/story?client=safari&rls=en&q=1700+pipe+line&oe=UTF-8&um=1&ie=UTF-8&ncl=dc_qyfGAJ5lNH3MXw6YBglKNS77bM&hl=en&ei=bA5bTpzNMcahtwfa6MClDA&sa=X&oi=news_result&ct=more-results&resnum=1&ved=0CCoQqgIwAA see the stories this weekend
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Post by siriusnews on Aug 28, 2011 23:04:50 GMT -5
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