Crude oil could rise to $60 a barrel by the end of the year, even without any help from OPEC, new Saudi energy minister Khalid Al Falih told CNNMoney. Al Falih was speaking just after OPEC wrapped up a summit in Vienna. During the meeting, OPEC decided against implementing a cartel-wide production quota range, once again failing to reach an…
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This Week’s Market Buzz
A company that was working to start a frac sand mine in the towns of Alma and Adams, Wis., filed for bankruptcy, according to the Jackson County Chronicle. Terracor Resources filed for Chapter 15 bankruptcy in a federal court in Texas April 4. Terracor has been working to launch a frac sand processing facility and related rail spur – an…
Read MoreWinona County Looking into Legality of Frac Sand Ban
Winona County, Minn., Attorney Karin Sonneman will advise the County Board later this spring on whether the board has the legal authority to ban new frac sand mines and processing facilities in rural parts of the county, according to the Winona Post. Her legal opinion could be the first step toward a vote on the issue sometime this year.
Read MoreReport Claims Frac Sand Companies Disregard Regs
A new Land Stewardship Project report claims to show that the frac sand mining industry in Wisconsin is systemically disregarding state regulations, a red flag to communities in Minnesota that are grappling with the onslaught of this industrial activity. The report, which is reportedly based on an analysis of public data and news reports, also documented over a dozen instances…
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The Land Stewardship Project is proclaiming that 47 frac sand companies currently operating in Wisconsin were reviewed by their organization, and environmental violations and other abuses were found to be abundant. The violations outlined in the report include sediment and wastewater spills, air quality problems, and illegal drilling and construction. Rich Budinger, president of the Wisconsin Industrial Sand Association, said…
Read MoreMinnesota Governor Won’t Issue Frac Sand Moratorium
Minnesota Gov. Mark Dayton received more than 6,000 petition signatures asking him to issue a frac sand moratorium in that state. But Dayton said he can’t personally block the frac sand industry from expanding in southeastern Minnesota, rebuffing a group of mining opponents that delivered a moratorium petition as part of an Earth Day rally at the capitol.
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