My life was changed by tough coaches

My life was changed by tough coaches

Postby dan_s » Thu Apr 22, 2021 8:25 am

I saw this on a sign at a high school baseball field.

“Uncoachable kids become unemployable adults. Let your kids get used to someone being tough on them. It’s life, get over it.”

I have two sons and the coaches that impacted their lives the most were the men who pushed them hard. I attended an all boys Catholic high school. We had very tough coaches and my senior year our football team was undefeated, drawing lots of attention from college scouts. I was one of the team captains and I got a full ride football scholarship to Tulsa University. My parents were living from paycheck to paycheck and my father told us they could not send us to college, so we'd have to go to work right out of high school. Tough coaches changed my life.

BTW my father's family lost their dairy farm in the depression and he went to work on a truck assembly line in St. Louis at the age of 16 and joined the Navy at age 18 right in the middle of WWII. He was on a ship in Tokyo Bay when the Japanese surrendered.
Last edited by dan_s on Thu Apr 22, 2021 12:55 pm, edited 1 time in total.
Dan Steffens
Energy Prospectus Group
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Postby Fraser921 » Thu Apr 22, 2021 10:50 am

Dan, I like your story and family history. America was land of opportunity not land of hand out.

Kinder released their earnings

Kinder Morgan, the US natural gas pipeline operator and stakeholder in LNG exports and projects, reported first-quarter net income of $1.40 billion compared was a net loss of $306M in the prior-year quarter and said a new Louisiana pipeline expansion to serve Train 6 at Sabine Pass LNG was on track.

“The (profit) increases are primarily related to the February winter storm and are therefore largely non-recurring,” stated Kinder Morgan.

“We realized greater margins on Kinder Morgan's Texas intrastate pipeline systems resulting from the temporary supply and demand imbalances and substantial spot market price volatility caused by the storm,” explained the Houston-based company.

The earnings performance for the first quarter was also better due to $971M of impairment charges taken in the first quarter of 2020.

“Apart from the storm and throughout the quarter, our assets continued to provide strong cash flow as we remain guided by a sound corporate philosophy: fund our capital needs internally, maintain a healthy balance sheet and return excess cash to our shareholders “ stated Kinder Morgan Executive Chairman Richard D. Kinder.

Louisiana Pipeline

The company noted that construction continued on Kinder Morgan Louisiana Pipeline’s Acadiana expansion project, which is costing $145M, and the work was on track.

“The project is designed to provide 945,000 dekatherms (cubic feet) per day (Dth/d) of capacity to serve Train 6 at Cheniere’s Sabine Pass Liquefaction facility in Cameron Parish, Louisiana,” said the company.

“The project is anticipated to be placed into commercial service as early as the first quarter of 2022,” added Kinder Morgan.

Kinder Morgan itself is a shareholder in the Elba Island LNG export plant in Georgia and has a stake in the currently dormant Gulf LNG export project near Pascagoula in the state of Mississippi.

Kinder Morgan added that natural gas transport volumes were down 3 percent overall year-on-year, with notable volume declines on the Colorado Interstate Gas Pipeline (CIG) due to production falls in the Rockies Basin.

LNG feed gas

However, the company reported increased volumes on the Tennessee Gas Pipeline (TGP), due primarily to weather-related rises in usage across the Texas system and higher deliveries to LNG plants and to customers in Mexico.

There were also higher volumes on the Permian Highway Pipeline going into service and on the Elba Express in Georgia due to increased deliveries to the Elba Island LNG export plant.

KMI Chief Executive Steve Kean said the strongest quarterly performance came from its Natural Gas Pipelines division in the face of challenging circumstances presented by the February winter storm in Texas.

“That performance was a result of actions we took following previous weather events,” explained Kean.

“Those actions included enhanced weatherization at storage and other facilities, ensuring critical facilities had backup generation so they wouldn’t lose power, and deploying additional personnel and equipment at normally automated facilities to maintain operations and be positioned to make any necessary repairs if roads became impassable,” he said.

Storage assets

“Our storage assets performed exceptionally well, allowing us to deliver gas into the market throughout the storm. These storage withdrawals, along with gas we purchased before and during the event, enabled us to deliver significant volumes of gas at contractual or prevailing prices,” stated the CEO.

Kean praised the “outstanding performance of the people in our Texas intrastate pipeline systems and the facilities they kept operational” throughout the storm.

Kinder Morgan said that system deliverability and resiliency were also enhanced by investments in pipeline expansion projects and asset maintenance in Texas.

“These investments, by Kinder Morgan and our joint venture partners, totaled more than $5 billion in the last three years alone,” said the company.

“We are particularly proud of the fact that the Permian Highway Pipeline, which went into commercial service six weeks prior to the storm, played a key role in keeping more lights and heat on in Austin than would otherwise have been the case,” added Kinder Morgan President Kim Dang.

In its 2021 Outlook, Kinder Morgan expects net income for the year to be around $2.7Bln to $2.9Bln.
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Re: My life was changed by tough coaches

Postby dan_s » Thu Apr 22, 2021 12:53 pm

America needs the Midstream Sector and we have a lot of good midstream companies in our High Yield Income Portfolio that pay outstanding dividends.

I have worked in the oil & gas industry for over 40 years. I hate the way the "Washington Gang" (both parties) badmouth this industry. Their "war" on pipelines is insane and the opposite of what they should be doing if they actually cared about the environment.
Dan Steffens
Energy Prospectus Group
Posts: 25582
Joined: Fri Apr 23, 2010 8:22 am

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