The well recently fracked:
- 31476, 2,613, MRO, Moline 14-32H, Big Bend, 45 stages, 6.5 million lbs, t8/17; cum 46K 8/17;
U.S. and other Western scientists voice awe, and even alarm, at China’s quickening advances and spending on quantum communications and computing, revolutionary technologies that could give a huge military and commercial advantage to the nation that conquers them.
The concerns echo — although to a lesser degree — the shock in the West six decades ago when the Soviets launched the Sputnik satellite, sparking a space race.
In quick succession, China in recent months has utilized a quantum satellite to transmit ultra-secure data, inaugurated a 1,243-mile quantum link between Shanghai and Beijing, and announced a $10 billion quantum computing center.GE. Dow 30 components: include GE. GE continues to slip. (Currently down 6.6% at 2:12 p.m. Central Time):
The stock dropped 5.4% in morning trading to about $22.50 a share, on pace for its largest drop in more than six years. It more than reversed a 1.1% rise on Friday after the quarterly results. The firm on Friday morning slashed its 2017 outlook and reported per-share profits that missed analyst expectations, which the company’s new chief executive, John Flannery, called “unacceptable.”
Equity analysts, typically an optimistic bunch, turned more cautious after the earnings report, collectively cutting their average price target to $26 a share Monday. That’s above where the stock is currently trading, but marks the lowest average price target since mid 2013, according to FactSet’s monthly data.More GE: this time long-term care deficiencies:
Worries about the health of the long-term-care insurance industry have nettled investors for years. General Electric Co.’s comments show the problem isn’t going away soon.
The Boston company on Friday cut its earnings forecast for the year, citing poor results at units including its power division. The company also said results could be hit by a reassessment of an insurance unit’s prospects—a remark that came as a surprise to some, given that GE years ago spun out a business closely identified with long-term care, now known as Genworth Financial Inc.
A GE executive on the company’s conference call Friday morning said the firm has actuaries combing through its long-term-care insurance reserves in “a very complex exercise” to figure out if they are deficient.Uber-alles: Ill-time Uber investment roils a giant Saudi fund. I wondered when we would start seeing these stories. Of course I can't imagine Saudi Arabia investors being too upset with the alleged Uber culture alleged to be causing all the alleged Uber problems. Just saying. After all, women aren't allowed to drive in Saudi Arabia, that will (?) change in 2018. In fact some say the women-driving issue was one reason Saudi bought into Uber in the first place. Those dots I cannot connect.
Since the first shale gas export terminal opened in Louisiana last year, America’s drillers have seen at least 75 cargoes of their fuel sail through the Panama Canal bound for markets in Asia.
Now they’re looking for a cheaper and quicker route. And they’ve turned to Mexico for help.
Aldo Flores, Mexico’s deputy energy secretary, said Thursday that the government’s in talks with shale drillers in West Texas about a potential pipeline that would send their gas straight to Mexico’s west coast, where it could then be liquefied and shipped overseas.
Such a pipeline could eliminate the need for gas tankers to navigate the Panama Canal and hand the U.S. another outlet for the bounty of gas that President Donald Trump has vowed to “unleash” upon the world.
It comes as at least one would-be U.S. gas exporter, Sempra LNG & Midstream, voices concerns about delays at the canal that threaten to cost gas traders thousands of dollars a day.
1. St Louis, MO (rising since 2013)However, a non-government agency has this list for 2017:
2. Baltimore, MD (surge in 2015)
3. Detroit, MI (flat)
4. New Orleans, LA (falling since 2007, but slight rise recently)
5. Birmingham, AL (surged in 2015)
6. Jackson, MS (flat)
7. Baton Rouge, LA (slight rise recently)
8. Hartford, CT (surged in 2015)
9. Salinas, CA (surged in 2015)
10. Milwaukee, WI
13. Savannah, GA (and surging in 2015)
19. Atlanta, GA
25. Chicago, IL (relatively flat)
1. East St Louis, IL (see above)
2. Chester, PA (interesting; I don't know where Chester is but I can guess)
3. Gary, IN
4. St Louis, MO (see above)
5. Baltimore, MD
6. Petersburg, VA
7. Flint, MI
8. Detroit, MI
9. New Orleans, LA
10. Camden, NJ
23. Hartford, CT
25. Salinas, CA
28. East Chicago, IN
30. Washington, DC
HAL. Halliburton profit tops estimates on strong North America demand. Reuters even used the word "surged" -- a word we don't often see these days in the oil sector except when combined with production, such as "production surged." Data points:#1 item on my agenda this week: COP earnings. Preview over at SeekingAlpha. At that article, the Bakken is mentioned often. If the US majors are making profits at $50 oil, Saudi Arabia is in deep trouble.
- revenue surges 91%
- revenue from North America at $3.16 billion
- total revenue rose 42% to $5.44 billion
- profit: 42 cents a share vs 1 cent per share a year earlier
- profit: $365 million most recent quarter vs $6 million one year earlier
- analysts forecast: 37 cents/share
With the addition of new natural gas pipeline capacity, and crude oil and natural gas prices stabilizing near $50/bbl and $3/MMBtu, respectively, Lower-48 natural gas production this year is on the rise again and expected to increase by another 18 Bcf/d over the next several years.
Gas demand is growing too, but a big chunk of the incremental demand will come not from domestic consumption, but from exports via pipeline deliveries to Mexico and to overseas markets in the form of LNG.
Both of these outlets require substantial infrastructure development and will take time to ramp up. Moreover, much of this new demand will be concentrated in one geographic area — along the Gulf Coast. In addition to the Marcellus/Utica Shale region, several other supply basins are growing too and will compete for this new demand. How will these dynamics affect the gas market balance over the next few years? Will demand come on fast enough, and will all that new supply be able to find its way to the Gulf Coast? Or, is the market setting itself up for more transportation constraints? In today’s blog, we look at how supply and demand shifts will shape the gas market balance over the next several years.
This is Part 3 of a series laying out our five-year outlook for the U.S. natural gas supply and demand balance. In Part 1, we started with our outlook for the biggest driver of supply — production. After pulling back in 2016, Lower-48 natural gas production is clearly in growth mode again this year, not only from the Marcellus/Utica, but also from associated gas volumes in the crude-focused Permian Basin, and Oklahoma’s South Central Oklahoma Oil Province (SCOOP) and Sooner Trend Anadarko Canadian Kingfisher (STACK) plays.
Notably, this is happening at $50/bbl crude — a price level that a few years ago had producers tightening their belts and laying down rigs. But, today, ongoing drilling efficiency improvements have made it possible for producers to grow at prices that are $30 to $60/bbl lower than where they were prior to the oil price crash of 2014.
In Part 2, we quantified the other side of the equation — growing sources of demand, primarily exports. The biggest growth will be from outside the U.S., both from LNG exports as well as pipeline deliveries to Mexico from Texas. Based on the construction and completion schedules for the first wave of liquefaction projects underway along the Gulf and East coasts, we expect U.S. export capacity to reach nearly 11 Bcf/d by the end of 2019. At 85% to 90% utilization, that translates to just under 10 Bcf/d of LNG moving out of the U.S. in that timeframe. Then there are the exports to Mexico. Pipeline delivery capacity to the border has increased to about 9.0 Bcf/d in the past couple of years and will increase by another 3.5 Bcf/d by 2022. But deliveries are likely to be slower to follow, as shippers await takeaway and gas-fired power generation capacity growth across the border. Nevertheless, we expect cross-border flows to rise to as much as 8.0 Bcf/d in 2022. In terms of U.S. domestic consumption, the biggest growth area is gas-fired power generation demand, which we expect to average more than 28 Bcf/d by 2022. That is almost 3.0 Bcf/d higher than this year, but only 1.0 Bcf/d higher than 2016.
In boreal forests above the Gulf of St. Lawrence, Hydro-Quebec is building a series of dams that will generate enough electricity for more than one million homes. The $5.2 billion project on the Romaine River is part of a sweeping expansion the government-owned utility began in 2007, with the intention of selling power to the U.S. where nuclear reactors are closing.
It’s not clear Americans will buy. While New York and Massachusetts want to avoid fossil fuels when they replace the soon-to-be-shuttered Indian Point and Pilgrim nuclear plants, wind and solar developers are also jockeying for the job.Merckel: world's #1 eco-vandal --
The [London] Guardan, September 19, 2017
... perhaps the most embarrassing is Germany’s shocking failure, despite investing hundreds of billions of euros, to decarbonise its electricity system. While greenhouse gas emissions in other European nations have fallen sharply, in Germany they have plateaued.The reason is, once more, Merkel’s surrender to industrial lobbyists. Her office has repeatedly blocked the environment ministry’s efforts to set a deadline for an end to coal power. Coal, especially lignite, which vies with Canadian tar sands for the title of the world’s dirtiest fuel, still supplies 40% of Germany’s electricity. Because Merkel refuses to restrict its use, the peculiar impact of Germany’s Energiewende programme has been to cut the price of electricity, stimulating a switch from natural gas to lignite, which is cheaper. (In Germany they call this the Energiewende paradox). But Merkel doesn’t seem to care. She has announced that “coal will remain a pillar of German energy supply for a prolonged time span”.National Review, September 24, 2017
Merkel’s energy policy was based upon a combination of nuclear power and “renewables” in order to close down power stations dependent on fossil fuels, and help Germany lead the European Union and the world toward a carbon-free future.She had been a strong defender of nuclear energy against SPD chancellor Gerhard Schröder’s attempts to phase it out. Within a few weeks of the Japanese nuclear disaster at Fukushima, though, she panicked, reversed herself, and closed down Germany’s entire nuclear program.Her Energiewende since then has led to a massive increase in power bills for consumers and industry, the movement abroad of German companies heavily reliant on energy, and, more recently, a phasing out of the phasing out of coal-fired power stations. Merkel and the nuclear companies are still haggling over how much the German government will pay for the estimated €23 billion cost of shutting down their plants. Meanwhile, no one believes that Germany and Europe will meet their official goal of reducing carbon emissions 80-95 percent from their 1990 levels by the year 2050.InvesterVillage, October 22, 2017: most countries ignoring Paris accord
According to the analyst, popular opinion against German Chancellor Angela Merkel’s “Energiewende” (energy transition) policies, which had doubled electricity prices, played no small part in Merkel’s terrible showing in last month’s national elections.Costs of the ill-fated Energiewende now total some €650 billion, a bill that weighs heavily on the shoulders of German taxpayers.Late last year, to their national embarrassment, the Germans had to be bailed out of a small energy crisis by Poland when the wind failed to blow for several days and a thick fog surrounded many parts of Germany, driving the output from renewables to just 4 percent of total demand. It was coal-fueled Poland that had to rescue Germany from its self-induced energy crisis.“Merkel may now be unable to form a government without the support of the libertarian Free Democratic Party, which demands an end to renewables subsidies,” Solomon notes.
Public-sector workers in cash-strapped Hartford, Conn., are on edge as city officials have said the state capital could seek authority to file for bankruptcy as early as November.
State lawmakers, who are confronting their own two-year deficit of $3.5 billion, will have a big say in how that plays out. Legislative leaders say they reached a tentative state budget agreement that would give Hartford additional aid, and they expect to approve it this week.
But after a series of false starts in the budgeting process, some are still uneasy.
“It’s nerve-racking because obviously the clock is ticking,” said Larry Dorman, a spokesman for Afscme Local 1716, which represents about 400 city employees, including those in the departments of public works, sanitation and parks. “When you’ve seen bankruptcy in other cities, it’s always taken the biggest toll on the workers. That’s neither right nor fair.”Life's not fair.
One day after turning in a standout performance in the 100 Fly, Grover took on a talented 200 Free field. The Atlanta native posted a sixth-place finish, checking in with a time of 1:46.88. The race was a tight one, as the veteran's effort placed her just over five seconds back of the winner, Katie Ledecky of Stanford.
Liu finished sixth in the 200 IM, notching a time of 2:00.54. Ella Eastin of Stanford and Kathleen Baker of California tied for first just over seven seconds ahead at 1:53.24.
The Pac-12 took a 302.5-276.5 after the men's 200 IM—the last individual event of the weekend. Needing 306.5 to secure the overall victory, the Pac-12 "A" team of Louise Hansson, Janet Hu, Ledecky and Abbey Weitzel made it official with a first-place time of 3:11.28.From yesterday:
The Pac-12 Conference – which has six-time Olympic medalist Katie Ledecky on its side – scored 155 points Saturday to lead Team USA by 11 points after the first day of the 2017 USA Swimming College Challenge in Los Angeles.
The second-ever exhibition continues at 11 a.m. PT on Sunday in the Uytengsu Aquatics Center on the Southern Cal campus. With 613 points up for grabs throughout the competition, the first team to score 306.5 points will be named the winner. The meet features 29 members of the USA Swimming national team facing Pac-12 all-stars.Michael Phelps says of Katie Ledecky: she has a quality he rarely sees in swimmers.
Ledecky, a sophomore at Stanford and a four-time gold medalist at the Olympic Games Rio 2016, won the women’s 500-meter freestyle for the Pac-12, finishing in 4:28.75. She also helped the Pac-12 win the women’s 800 freestyle relay.
Michael Phelps, the most decorated Olympian in history and the face of US Swimming since 2004, has seen Ledecky train and compete for years and said she is in a class of her own.
"She's someone that's very goal-oriented," Phelps said while speaking to Business Insider. "When she writes a time down or she writes a major milestone down, she's gonna do whatever she can to make sure that happens. I've only seen that really a couple times in the sport. So it's a true treat for me to be able to see her kind of truly coming up in the sport like she is."
After a strong World Championships performance and freshman year at Stanford,
Ledecky is poised to have a strong showing at the 2020 Tokyo Olympics. The 2020 Olympics will now include the 1,500-meter freestyle for the first time, a race in which Ledecky currently holds the world record. Phelps said with such a busy slate, Ledecky could have the chance to win seven or eight medals.