As fall starts to settle in, we are reminded of the importance on a reliable mix of energy production from oil, gas, coal, solar and wind. The fact remains we cannot sustainably rely on a single source to meet all our needs. Our homes, schools, and businesses require comfort for everyday life, our vehicles need to run, and our industries must keep moving. Wescom is involved in many of these areas for energy production and continues to experience firsthand the amazing folks who do the incredible work every day and ensuring product is flowing. Our focus in this month’s newsletter is on the Permian and Bakken oilfields and adds a glimpse into coal and solar.
Permian and Bakken Region
The oil fields have been in a period of fluctuation as of late with market pricing affecting the optimism of much of the industry. Recently, oil prices dropped below $70 a barrel – toeing the line between stable and growth production. Stable production brings better pricing for consumers and more technical growth for teams with the increased time availability; whereas, growing in production can cause price spikes for consumers but also offer career growth and advancement opportunities for teams. Wescom is heavily involved in both the Permian (Texas/ New Mexico region) and Bakken (North Dakota region) Basins.
US oil producers continue to talk about the Permian Basin, its impact and importance on their total production, and their commitment to the area. The regulatory environment is vastly different in the Permian; thus, producers operating in both must keep that notion top of mind as they continue to make decisions as to where their next well is drilled. Labor in the Permian Basin continues to be highly sought after. Companies often compete for them even while working for the same producers. It remains necessary that we attract people to the industry to increase the size and depth of experience in the field- rather than competing over the same existing pool of great talent.
The Bakken Basin had increased assurance with this year’s mergers that have secured a future for the companies and their teams. Automation upgrades continue to be a focal point with oil producers. They are concentrating on increasing efficiencies and ensuring critical environmental standards are being met. The Bakken oil conference in May pointed to years of drilling activities ahead within the current reserves and possibilities of more as technology continues to evolve. Teams operating in the Bakken are heavily invested in their communities and families in the great state of North Dakota.
Twin Ports Region
Our solar team is busy working on residential, commercial and utility clients looking to achieve their solar goals. So far this year, we have energized dozens of homes with ground and roof mount systems, a large Veterans facility, several businesses, churches, and are currently completing a 15-site ground mount solar system for a utility client in Northern Minnesota. Paybacks on the investment cost of going solar continue to improve driven by rising electrical rates and stable tax and rebate incentives. We expect the rebates offered by utilities to decrease as folks get energized by solar while tax incentives are here for several more years. Commercial and industrial clients have other incentives that have been put in place that really can drive the cost to an affordable spot. Many of our clients are seeing paybacks less than 10 years making the solar decision easier. Our time in the community talking about solar tells us there is still many misconceptions about solar from its availability when the grid is down, reliability, and costs. We are continuing to guide our community with reliable information about what’s right for their usage.
Powder River Region
Coal mines are still feeling the effects of our collective redirect into a more renewable environment. Recently, we toured several mines in Gillette, WY, and the surrounding area. Interestingly, they all had the same comments about the depressed market that caused major disruption in their ability to make decisions. Despite the state of the market, it is clear the production is necessary. Trains continuously run to ensure coal gets where it needs to be in order to solve the peaks and valleys of renewable production. Many of the employees who are in the coal mines have dealt with tens of years of unstable environments but somehow remain optimistic and confident about their future. They are hardworking, family and community orientated, and love their industry.
While the energy markets continue to evolve and try find footing, thousands of great working folks go out every day and ensure their industry is doing what they can to ensure we all have the energy we have come to rely on. And these folks are not so concerned about the noise in the election, who is right with what side of production should be emphasized or where the next big move in crypto is. They are concerned about their safety, their families and communities, and that their production is the best there is in their industry. That is exactly what we love about this blue-collar industry.
Wescom WINS
Safety Moment- Fall Driving Safety
As the days grow shorter and autumn settles in, drivers face challenges that can impact road safety. From sun glare to increased wildlife activity, it’s crucial to stay vigilant and informed. Read our tips below to help you navigate risk and ensure everyone gets home safe!
Seasonal Risks to Watch For
- With the sun lower in the sky, glare can be a significant hazard. Use your sun visor or sunglasses and keep your windshield clean to minimize glare and maintain visibility.
- The transition between daylight and darkness happens more quickly during fall, making it essential to adjust your driving habits. Ensure your headlights are functioning correctly and use them when visibility is poor.
- Shorter days and disrupted sleep patterns can lead to fatigue. Avoid driving during times when you’d normally be sleeping.
- Autumn is peak season for deer activity. Be especially cautious in areas with deer crossing signs, and always be prepared to stop if you see an animal near the road.
Harvest Time Road Safety
Harvest season brings farm vehicles onto the roads, adding another layer of complexity to driving.
- Farm equipment is required to display an orange triangle to indicate it’s traveling under 25 mph. Be patient and give these vehicles plenty of space.
- Farmers will often pull over to let you pass when it’s safe. However, don’t assume that a vehicle pulling to the right is letting you pass; they might be turning left.
School Zone Safety
With children heading back to school, it’s vital to follow specific drop-off procedures to ensure everyone’s safety.
- Double parking blocks visibility for other drivers and children.
- Never load or unload children across the street from the school- only load or unload within the school’s drop-off zone.
- Carpooling eases congestion but also enhances safety.
Sharing the Road with School Buses
Driving near school buses requires extra caution!
- Keep a greater distance behind a bus compared to other vehicles- be prepared to stop.
- It’s illegal to pass a stopped school bus with its stop arm extended.
- The area around a school bus is the most dangerous for children. Stop well back from the bus to provide enough space for children to enter and exit safely.
As we adapt to the changes in daylight and increased activities this fall, staying aware of these safety tips can help prevent accidents and keep everyone safe on the road. We all want our loved ones to get home safe!