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Title : Norwegian Production Likely To Fall Again -- August 6, 2017
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Norwegian Production Likely To Fall Again -- August 6, 2017

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Norway: unlikely to approve drilling the Arctic Lofoten islands where an estimated $65 billion of oil lies.

Oil companies led by state-controlled Statoil ASA, the biggest Norwegian producer, say gaining access is key if the country wants to maintain production of oil and gas, which is forecast to fall again from 2025 after already dropping 12 percent since a 2004 peak.

While the government estimates Lofoten could hold about 1.3 billion barrels of oil equivalent, industry group Konkraft has said resources could top 3 billion barrels. If it’s all crude rather than gas, that would represent at least $65 billion in sales value at current prices.

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Road Trip

Dallas-Ft Worth to San Antonio: two options --

• I-35, very, very congested; often under construction
• US Highway 281: picturesque, never congested

I've made that trip numerous times over the past 17 years. I prefer US Highway 281. One of the most picturesque little towns along the route is Marble Falls.

To my surprise, Marble Falls made The Wall Street Journal this weekend. I bet I have passed this restaurant a dozen times and (my bad) never, ever stopped.

From The Wall Street Journal: Texas treats -- barbecue, enchiladas -- and pie? For most texasn, barbecue is the signature food, ...

... Bbut for the 6,300 residents of this city in Texas’ bucolic Hill Country, about 48 miles northwest of Austin, it is all about the pie.

Specifically, the pie at the Blue Bonnet Cafe, a downtown fixture since 1929. At the 180-seat restaurant, it is a given that customers will order a $3.29 slice. The big question is which of the dozen-plus varieties, from apple to lemon meringue to coconut cream, they will choose.


It adds up to about 40,000 pies sold annually, bringing in at least $600,000, or some 15% of the restaurant’s revenue, said Mr. Kemper. That is up from roughly 5% of revenue pies made up when he took over the operation.

Along with the sales, the baking brings a certain, ahem, slice of fame.

Over the years, the restaurant has been recognized with a range of honors, locally and beyond. Southern Living magazine named Blue Bonnet’s German Chocolate Pie as one of the South’s best. Blue Bonnet has become a pit stop for a number of famous Texans, from President George W. Bush (during his days as governor) to country-music star Willie Nelson. 

Time for another road trip. LOL.

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Financial Deserts

Last night on the local news there was a story on "food deserts" in the DFW area -- areas where there are no grocery stores -- other than small mom-and-pop convenience stories -- and the biggest problem -- no fresh produce.

Now we have "financial deserts." From The Wall Street Journal:

The number of black-owned banks operating in the U.S. has been dropping steadily for the past 15 years and fell to 23 this year, the lowest level in recent history.

That has left many African-American communities short of access to capital and traditional financial services, according to some banking experts.

The 2008 recession hit the black banking sector especially hard, and if the current rate of closures of about two a year, as well as the industry-wide reluctance or inability to start banks, continues, black-owned banks could disappear entirely within the next eight to 12 years.

The trend is worrisome to some analysts who argue fewer banks serving low-income, minority groups could expand “financial deserts”—communities with few or no banking institutions—and increase the likelihood that black and Hispanic communities could become susceptible to redlining, a discriminatory practice that excludes poorer minority areas from financial services.

I assume Maxine Waters would have a solution. Waters has the backing of activists in the US House of Representatives to become the next house majority leader. 

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