Tuesday, June 18, 2013

Update Regarding The Website; Wells Coming Off The Confidential List Wednesday; Two Spectacular EOG Hawkeye Wells

Updates

June 19, 2013: check out this  EOG Clarks Creek Hawkeye well; > 300K in less than 7 months --
  • 22486, 2,421, EOG, Hawkeye 100-2501H, Clarks Creek, Bakken, Three Forks, t9/12; cum 213K 1/13; F; t9/12; cum 301K 4/13;  
Original Post

If you found this site after losing it yesterday, I am impressed. A third party was able to re-direct my URL to their website (real estate spam; other?) and it took awhile to figure out how to get back to my own site.

Be that as it may, the good news is that I will continue to blog on the Bakken.

I've corrected many of the links in the sidebar at the right, and I was able to get back to "the million dollar way" but I had to change the URL slightly.

The bad news is that a lot of links will be broken. However, over time the links will be fixed. If an external site is no longer available, obviously I can't change that, but if a link is broken to one of my earlier posts, that can be fixed. If you find such a broken link and really want to get to that earlier post, let me know and I will fix it if it is possible.

Wells coming off the confidential list Wednesday:
  • 21947, 161, GMX Resources, Fairfield State 21-16-1HRE, St Demetrius, Three Forks, 37 stages; 1.2 million lbs; originally Fairfield State 21-16-1H; t9/12; cum 3K 4/13; "HRE" must be "horizontal re-entry"; folks may remember that GMXR filed for bankruptcy protection, April 1, 2013;
  • 22484, 2,.946, EOG, Hawkeye 102-2501H, Clarks Creek, t1/13; cum 103K 4/13;
  • 22485, 1,926, EOG, Hawkeye 01-2501H, Clarks Creek, t1/13; cum 109K 4/13;
  • 23854, 749, CLR, Hamlet 6-2H, Hamlet, t4/13; cum 1K 4/13;
  • 24181, drl, Statoil, Folvag 5-8 3H, Stony Creek,
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22484, see above, EOG, Hawkeye 102-2501H, Clarks Creek:

DateOil RunsMCF Sold
4-2013173960
3-2013404380
2-2013273800
1-2013171470

22485, see above, EOG, Hawkeye 01-2501H, Clarks Creek:

DateOil RunsMCF Sold
4-2013162780
3-2013431880
2-2013299090
1-2013177210

Two Spectacular EOG Hawkeye Wells Will Come Off The Confidential List Tomorrow; Clarks Creek -- EOG Will Place 22 Wells On One 2560-Acre Spacing Unit

I've talked about the EOG Hawkeye wells in Clarks Creek oil field in several earlier posts.  This is a link to an earlier post regarding these wells:

http://themilliondollarway.blogspot.com/2012/12/random-update-on-eogs-clarks-creek-15.html

Tomorrow, EOG will announce two more wells coming off the confidential list with spectacular production.

Remember: Clarks Creek is the field where EOG will place 22 wells on a 2560-acre spacing unit (works out to 11 wells/1280-acre spacing unit -- not particularly dense for the best part of the Bakken)

These are the wells where EOG is using large amounts of proppant and a lot of stages (I don't know how long these laterals are). One well has produced > 101,000 bbls in less than four months (the first month will not likely be a full month of production); the second well produced about 107,000 bbls, also in less than four months (remember, 100-series wells are Three Forks wells; series 1 - 99 are middle Bakken wells):

  • 22484, conf, EOG, Hawkeye 102-2501H, Clarks Creek:
DateOil RunsMCF Sold
4-2013173960
3-2013404380
2-2013273800
1-2013171470
  • 22485, conf, EOG, Hawkeye 01-2501H, Clarks Creek:
DateOil RunsMCF Sold
4-2013162780
3-2013431880
2-2013299090
1-2013177210

Despite US Energy Revolution, US Is Not Immune To OPEC Disruption

Rigzone is reporting:
While the Organization of Petroleum Exporting Countries (OPEC) will likely be unable to defend its position on both market share and prices in the wake of growing U.S. tight oil supply, growth in non-OPEC supply does not mean the United States will be immune from a disruption of Saudi Arabian oil exports, a policy expert told attendees at a June 12 forum at Rice University.
The U.S. shale boom changed the perception that Saudi Arabian Oil Co. (Saudi Aramco) would dominate the global oil supply, shifting the center of the energy world back to America, said Amy Myers Jaffe, executive director for energy and sustainability at the University of California at Davis, at the Energy Market Globalization: Investment and Commodity Price Cycles and the Role of Geopolitics.
Jaffe referenced a Wood Mackenzie study that estimates $80 billion will be invested in 2015 in North America tight oil plays as new pipelines and refinery upgrades transform the U.S. energy landscape.  U.S. liquids production also could potentially keep growing, with some estimates has high as 10 million barrels of oil per day. While Jaffe is not sure she agrees that production will rise as high as 10 million bopd, the production trendline is definitely up, with initial estimates of 3 million bopd looking "very achievable."

Whiting/KOG's P Wood Wells

Note: these P Wood wells are also followed in Truax oil field. It's possible IPs and production numbers have been updated at the Truax oil field.

Graphics


Updates

December 10, 2018: production numbers and new wells have been updated below. See "GIS Map Server" graphics updates at bottom of post (scroll down).

KOG's Q13 earnings press release.

Note: KOG has two pilot projects; 12 wells in one spacing unit; Polar Pilot Project (Williams County) or the Smokey Pilot Project (McKenzie County); all wells in these two projects will have a 28-stage fracture; 4 million lbs ceramic proppant;

The Wells 

This list is complete through 2014. As of February 15, 2015, no more P Wood permits have been added in 2015.

October 31, 2014, three more P Wood wells, these three -- SWSW 22-154-98 --
  • 29870, 1,379, Whiting/KOG, P Wood 154-98-13-22-15-4H3A, t7/15; cum 144K 10/18;
  • 29869, 2,064, Whiting/KOG, P Wood 154-98-13-22-16-4H, t7/15; cum 251K 10/18;
  • 29868, 2,045, Whiting/KOG, P Wood 154-98-13-22-16-12H, t7/15 cum 253K 10/18;
October 30, 2014, three more P Wood wells added to the list, these three - SESW 22-154-98 --
  • 29865, 2,422, Whiting/KOG, P Wood 154-98-14-22-16-3HA, t7/15; cum 250K 10/18;
  • 29864, 2,210, Whiting/KOG, P Wood 154-98-14-22-16-3H, t7/15; cum 275K 10/18;
  • 29863, 2,746, Whiting/KOG, P Wood 154-98-14-22-16-2H, t7/15; cum 232K 10/18;
October 27, 2014, additional P Wood wells added to the list --
  • 29813, PNC, Whiting/KOG, P Wood 154-98-14-22-15-4H3, Truax,
  • 29812, 1,365, Whiting/KOG, P Wood 154-98-14-22-15-3H3, Truax, t7/15; cum 198K 10/18;
  • 29811, PNC, Whiting/KOG, P Wood 154-98-14-22-15-3HA, Truax,
  • 29810, 1,650, Whiting/KOG, P Wood 154-98-14-22-15-2H3, Truax, t7/15; cum 205K 10/18
August 9, 2014, additional P Wood wells added to the list --
  • 28884, 2,515, Whiting/KOG, P Wood 154-98-15-23-15-3HA, 4 sections, t11/14; cum 186K 10/18;
  • 28409, 2,210, Whiting/KOG, P Wood 154-98-4E-26-35-14H, t1/15; cum 151K 10/18;
  • 28408, TA/1,362, Whiting/KOG, P Wood 154-98-4E-26-35-14H3, Truax, t3/15; cum 75K 4/17;
  • 28407, 1,339, Whiting/KOG, P Wood 154-98-4E-26-15-4H, Truax, t3/15; cum 119K 10/18;
  • 28406, 1,602, Whiting/KOG, P Wood 154-98-4E-26-35-14HA, Truax, t2/15;cum 148K 10/18;
  • 28387, 2,015, Whiting/KOG, P Wood 154-98-1-27-16-1H, Truax, 4 sections ,t10/14; cum 240K 10/18;
  • 28386, 1,930, Whiting/KOG, P Wood 154-98-1-27-34-16H, Truax, 4 sections, t10/14; cum 199K 10/18;
  • 28385, 2,241, Whiting/KOG, P Wood 154-98-1-27-15-1H3, Truax, t10/14; cum 185K 10/18;
  • 28384, 1,494, Whiting/KOG, P Wood 154-98-1-27-35-13H3, Truax, 4 sections, t10/14; cum 135K 10/18;
  •  27867, 1,924, Whiting/KOG, P Wood 154-98-16-23-35-15H3, Three Forks 1st B (TF1?), 28 stages, 5.2 million lbs sand, t8/14; cum 122K 10/18;
  • 27866, 1,986, Whiting/KOG, P Wood 154-98-16-23-35-15H, middle Bakken, 22 stages; 4.8 million lbs sand; t9/14; cum 124K 10/18;
  • 27865, 1,652, Whiting/KOG, P Wood 154-98-16-23-35-9H3, Three Forks 1st B (TF1), 26 stages, 5.1 million lbs sand; t8/14; cum 101K 10/18;
  • 27864, 960, Whiting/KOG, P Wood 154-98-16-23-35-9H, middle Bakken, 22 stages, 5 million lbs sand; t8/14 cum 171K 10/18;

March 19, 2014: additional P Wood wells permitted -- 
  • 27936, 1,862, Whiting/KOG, P Wood 154-98-15-23-35-15H, t8/14; cum 111K 10/18;
  • 27935, 2,168, Whiting/KOG, P Wood 154-98-15-23-35-15H3, Three Forks 1st B (TF1?), t8/14; cum 122K 10/18;
  • 27934, 2,006, Whiting/KOG, P Wood 154-98-15-23-35-15HA, middle Bakken, t8/14; cum 152K 10/18;
  • 27933, 2,649,Whiting/ KOG, P Wood 154-98-15-23-35-15H3A, TF 1st B (TF1?), t8/14; cum 141K 10/18;
  • 27932, 2,201, Whiting/KOG, P Wood 154-98-15-23-15-2H, 4 section, t11/14; cum 230K 10/18;
  • 27931, 1,802, Whiting/KOG, P Wood 154-98-15-23-15-2HA, middle Bakken, 4 sections, t11/14; cum 204K 10/18;
  • 27930, 1,787, Whiting/KOG, P Wood 154-98-15-23-15-3H, 4 sections, t11/14; cum 201K 10/18;
March 12, 2014: additional P Wood wells permitted --
  • 27866, 1,986, vKOG, P Wood 154-98-16-23-35-15H, Truax, t8/14; cum 124K 10/18;
  • 27865, 1,652, Whiting/KOG, P Wood 154-98-16-23-35-9H3, Truax, t8/14; cum 101K 10/18;
  • 27864, 960, Whiting/KOG, P Wood 154-98-16-23-35-9H, Truax, t8/14; cum 171K 10/18;
  • 27867, 1,924, Whiting/KOG, P Wood 154-98-16-23-35-15H3, Truax, t8/14; cum 122K 10/18;
  • 27863, 2,080, Whiting/KOG, P Wood 154-98-16-23-14-2H3, Traux, t11/14; cum 128K 10/18;
  • 27862, 2,205, Whiting/KOG, P Wood 154-98-16-23-14-1H3A, Truax, t10/14; cum 134K 10/18;
  • 27861, 1,946, Whiting/KOG, P Wood 154-98-16-23-15-1H, 4 sections, Truax, t11/14; cum 179K 10/18;
  • 27860, 2,351, Whiting/KOG, P Wood 154-98-16-23-14-1H3, Truax, t10/14; cum 177K 10/18;
The first P Wood wells (permitted some time ago): all eight are in the same section - 27-154-98. There are already three other wells in this section, all on confidential status, which means that there will be eleven (11) wells sited in this section. So, these are the permits for this section:
  • 24374, 1,860, Whiting/KOG, P Wood 154-98-3-27-34-14H3, Three Forks*, 27 stages; 3.1 million lbs;Truax, t6/13; cum 237K 10/18; (* the frac sundry sheet said TF; the permit app said Bakken)
  • 24375, 2,085, Whiting/KOG, P Wood 154-98-3-27-34-15H, Bakken*, 27 stages; 3.3 million lbs; Truax, t6/13; cum 163K 10/18; (* the frac sundry sheet simply said "Bakken")
  • 24376, 915, Whiting/KOG, P Wood 154-98-3-27-34-15H3M, Three Forks, 27 stages; 3.2 million lbs; Truax, t6/13; cum 148K 10/18;
  • 24604, 2,272, Whiting/KOG, P Wood 154-98-4-27-34-13HB, Bakken, 28 stages; 3.96 million lbs; Truax, secs 27/34, t7/13; cum 218K 10/18;
  • 24605, 2,556, Whiting/KOG, P Wood 154-98-4-27-34-13H3, upper Three Forks, 38 stages; 3.2 million lbs; Truax, secs 27/34; t7/13; cum 177K 10/18;
  • 24606, 2,118, Whiting/KOG, P Wood 154-98-4-27-34-13HA, Bakken, 28 stages; 3.5 million lbs; Truax, t7/13; cum 200K 10/18;
  • 24607, 1,622, Whiting/KOG, P Wood 154-98-4-27-34-14H3, 28 stages; middle Three Forks, 3.2 million lbs; Truax, secs 27/34; t7/13; cum 109K 10/18;
  • 24608, 2,017, Whiting/KOG, P Wood 154-98-2-27-34-15H, Truax, secs 27/34,Bakken, 28 stages; 3.5 million lbs, t7/13; cum 181K 10/18;
  • 24609, 1,890, Whiting/KOG, P Wood 154-98-2-27-34-16H3, Three Forks, 27 stages; 3.3 million lbs; Truax, secs 27/34, t7/13; cum 160K 10/18;
  • 24610, 2,197, Whiting/KOG, P Wood 154-98-2-27-34-16H, Bakken; 27 stages; 3.8 million lbs; Truax, secs 27/34, t7/13; cum 169K 10/18;
  • 24611, 1,806, Whiting/KOG, P Wood 154-98-2-27-34-16H3A, Three Forks, 27 stages; 3.3 million lbs; Truax, secs 27/34; t7/13; cum 152K 10/18;
Later, two more P Wood wells were added, section 27, one north, one south:
  • 24649, 1,824, Whiting/KOG, P Wood 154-98-3-27-34-14H, Truax, t6/13; cum 183K 10/18;
  • 24650, PNC, Whiting/KOG, P Wood 154-98-3-27-16-3H, Truax, (running north); never spud; five producing wells and one disposal well on this pad;
And then later, three more P Wood wells sections 26/35:
  • 25177, 2,044, Whiting/KOG, P Wood 154-98-4-26-35-13H, Truax, t12/13; cum 191K 10/18;
  • 25178, 1,880, Whiting/KOG, P Wood 154-98-4-26-35-13H3, Truax, t12/13; cum 124K 10/18;
  • 25179, 1,894, Whiting/KOG, P Wood 154-98-4-26-35-14H, Truax, t12/13; cum 153K 10/18;
A single P Wood well permit, section 26/35:
  • 26488, 1,770, Whiting/KOG, P Wood 154-98-4-26-35-14H3, Truax, t12/13; cum 124K 10/18;

********************************* 
GIS Map Server Updates

October 27, 2014: We won't know exactly where the horizontals of the new permits will go for quite some time (#29810, #29811, #29812, and #29813) but we do know they will be sited in the SESW quadrant of 22-158-94. So just for the fun of it, I've drawn in where I think the horizontals will go; I could be very wrong, but if correct these are particularly interesting due to the SE-NW horizontals already crossing in sections 22/15-158-94:


Seven (7) New Permits -- The Williston Basin, North Dakota, USA; KOG With Three Nice Bibler Wells

Active rigs: 184 (whew; was trending down; back up a couple of rigs today)

Seven (7) new permits --
  • Operators: True Oil (4), BR (2), Slawson
  • Fields: Bowline (McKenzie), Corral Creek (Dunn), Van Hook (Mountrail)
  • Comments: Hmmmm.....True Oil....
Wells coming off the confidential list were posted earlier. Scroll down for results.

Six (6) producing wells were completed:
  • 24185, 414, Mountain Divide, Leininger 3-10-1H,
  • 23900, 470, Mountain Divide, Wigness 5-8-1H,
  • 23110, 1,984, KOG, P Bibler 154-99-1-5-29-1H3,
  • 23112, 1,991, KOG, P Bibler 154-99-1-5-8-16H3,
  • 23113, 1,896, KOG, P Bibler 154-99-1-5-8-15H,
  • 25164, 768, Whiting, Hauge 41-3H, Sanish, t5/13; cum 65K 9/13;

Hawkinson Wells In Oakdale Oil Field

Before reading the rest of this post, look at the earlier post regarding the Oakdale oil field, all of 8 sections in northwest corner of Dunn County (just across the county line from McKenzie County).

Then look at section 22-147-96:
  • 18275, 1,020, CLR, Hawkinson 1-22H, Oakdale, t2/10; cum 413K 9/12; still producing 10K bbls/month; Three Forks well; 1.9 million lbs; trip gas peaked at 9,300 units; 30 - 40 foot flare;
Then south of this section, in 27-147-96, CLR has an Eco-Pad
  • 20208, 960, CRL, Hawkinson 2-27H, Oakdale, Bakken; s1/11; t9/11; F; cum 167K 9/12; 24 stages; 2.4 million lbs; Three Forks (TF1); runs north;
  • 20210, 803, CLR, Whitman 2-34H, Oakdale, Bakken, s1/11; t9/11; F; cum 497K 9/12; 24 stages; 2.4 million lbs; middle Bakken; runs south;
  • 20211, 263, CLR, Hawkinson 3-27H, Oakdale, Bakken; s1/11; t9/11; F; cum 185K 9/12; 24 stages; 2.4 million lbs; middle Bakken; runs north;
  • 20212, 482, CLR, Whitman 3-34H, Oakdale, Bakken; s1/11; t9/11; F; cum 64K 9/12; frack data not available? Three Forks (TF1); runs south;
Today, CLR was issued three more permits for section 22-147-96:
  • 24223, loc, CLR, Hawkinson 4-22H2, Oakdale,
  • 24224, loc, CLR, Hawkinson 5-22H, Oakdale,
  • 24225, loc, CLR, Hawkinson 6-22H3, Oakdale,
They will all run south; are these testing the second and third benches of the Three Forks?

More CLR Hawkinson wells in Oakdale oil field:
  • 24456, conf, CLR, Hawkinson 14-22H, Oakdale,
  • 24455, conf, CLR, Hawkinson 13-22H, Oakdale,
  • 24350, conf, CLR, Hawkinson 12-22H3, Oakdale,
  • 24286, drl, CLR, Hawkinson 11-22H2, Oakdale,
  • 24285, drl, CLR, Hawkinson 10-22H1, Oakdale,
  • 24284, drl, CLR, Hawkinson 9-22H3, Oakdale,
  • 24283, drl, CLR, Hawkinson 8-22H, Oakdale,
  • 24282, drl, CLR, Hawkinson 7-22H2, Oakdale,

Wind Won't Fly

The rationale for wind won't fly -- WSJ, June 18, 2017.

Data points:
  • decades of federal subsidies; approaching $24 billion
  • not one single conventional power plant has been replaced by an array of wind turbines
  • 5 kw/acre: most efficient; others even worse
  • 300 square miles (192,000 acres; 300 sections) = 1,000 MW (1 billion watts)
  • 1 square mile, conventional power plant: 1,000 MW (1 billion watts)
  • 1 billion watts: fulfills average annual power demand for a city of 700,000
  • wind farms will end when federal subsidies end
  • unclear whether monetary reserves exist to remove the non-turning turbines
  • a wind turbine can generate electricity 30% of the time: unfortunately we don't know when
  • while wind turbines are spinning, conventional power plants are also running, waiting to operate during the other 70% of time
Counterintuitive:
Importantly, the amount of electricity the wind can generate per acre of land is unrelated to the size of the turbines. Yes, by doubling the turbine's blade length you double the turbine's power output. The problem? If the turbines are big and tall you need fewer of them, but they must be more widely separated. If they're smaller you need more of them, closer together.
More wind, more problems:
The power generated by a wind turbine varies with the cube of the wind speed. When the wind speed doubles—say from 10 miles per hour to 20 miles per hour—the energy output increases eightfold (2 x 2 x 2). Someone, or some computer, has to balance these huge variations on the grid by calling on standby generators to produce more or less power to maintain the stability essential to the grid.
So, you might wonder, do high winds make turbines really hum? No. Turbines must be shut down in high winds because centrifugal force would begin to tear the blades apart. Also, the world has learned from experience in Europe—whose wind sculpture gardens may one day dwarf ours—that a one-millimeter buildup of bugs on the blades reduces their power output by as much as 25%.
Maintenance:
Thousands of turbine breakdowns and accidents have been reported in recent years. The basic concrete foundations are suffering from strains, as reported by industry sources and on the wind-farm construction website windfarmbop.com. 
Environmental:
Annoying, low-frequency noise produced by wind turbines, particularly large turbines, is driving some people away from their homes, according to numerous press reports. (Low-frequency noise regulations are already in place in Denmark while the phenomenon is the subject of continuing research.) The Audubon Society now estimates bird deaths from turbines exceed a million per year. 
Bottom line:
Wind is at best a niche player in energy. Grandiose claims made on behalf of wind-generated electricity are rubbish, whether or not renewable-energy advocates admit it. Wind-power developers will milk taxpayers across the world out of a few billion more dollars, euros or pounds in subsidies, tax credits and the like, but sooner or later the public will wise up.
Dr. Lehr, a geological engineer and hydrologist, is science director of the Heartland Institute.

Excellent, Excellent Article On The Montana Heath/Tyler

The Fairfield SunTimes is reporting, from information provided by Petroleum News.

This is an incredibly good article. Save for the archives.
“The Heath presents a multitude of challenges compared to the Bakken, ” Hauptman said. First, the Bakken, at between 11,000 and 13,000 feet, is much deeper than the Heath and is highly overpressured with the energy necessary to move the oil to the surface. The Heath, on the other hand, is shallow and under-pressured, “so you’re not getting Mother Nature to try and help you push it out. ”

The other challenge, according to Hauptman, is the rock itself. “The Bakken is like tombstone and you can drill through it with no problem at all … because it’s competent rock. ” But the geology of central Montana has been “up and down geologically many, many times, ” Hauptman added, and as a result the Heath Shale is highly faulted. That faulting, he said, present serious problems for drillers.

“You’re drilling in the Heath and all of a sudden you’re out of the Heath. All of a sudden you’re out 200 feet and you don’t know where to go. Do you go up? Do you go down? Do you do back up and do an open-hole side-track? These are all expensive things to do. This high-tech stuff is not cheap. I have first-hand knowledge of this. When you have those kinds of problems, suddenly your $5 million or $6 million authorization for expenditure is $8 million to $10 million. ”
When that happens, Hauptman continued, the number of barrels necessary to reach breakeven increases significantly.
A third challenge, according to Hauptman, is that there isn’t the competent rock in the Heath like there is in the Bakken, which, he said, causes serious drilling problems. “As you’re drilling it caves in behind you and you get your bit stuck, and you can’t get out of the hole so then you lose your whole drill string. These are the nightmares they’ve had out there. They don’t have that problem in the Bakken, ” he noted. “The Bakken’s just pretty much wellbore manufacturing cookie cutter. The Heath’s just not that way.”

But Hauptman firmly believes the Heath has oil. “There’s no question the oil is there. It’s a question of how does one get it out of the ground economically. That’s just the nature of the beast.”

And it is not unusual in the infancy of an oil play to have less-than-stellar well results. According to Lynn Helms, director of North Dakota’s Department of Minerals, “Things were very slow in the Bakken play for about two years until they cracked the code.”
As noted before, the Bakken is going to be hard to replicate.

Montana Update

There were three Bakken Formation wells completed in Richland County during the reporting period.
  • XTO Energy Inc., Marker 34X-20,  620.
  • Oasis Petroleum, Loki 2658 12-25H, 1,984.
  • XTO Energy Inc., Dige 41X-29DXA,  2,201.
In Sheridan County, two Bakken Formation wells were reported as completed.
  • Southwestern Energy Production Co., Bedwell 33-52 1-1H, 171.
  • TAQA, Hellegaard 10-9H-2,  64.

Tuesday Morning News And Links; Housing Starts Miss Expectations (But Not By Much)

My site has been "taken over" by someone redirecting "milliondollarway.com" to spam. I first became aware of it about 6:00 a.m., June 18, 2013. I will let it play out several days, but if by the end of the week, it is not fixed, I will end the blog. It's been a good run.

Active rigs: 182 (decreasing)

RBN Energy: Natural gas storage by region, first in a series.

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Regular readers of the blog know that the "job watch" numbers coming from the government are bogus and the spin from the mainstream media is incredible.

It is now interesting to watch the mainstream media regarding housing starts. Today, Reuters reports that housing starts miss expectations but "overall tone upbeat." Incredible. Simply incredible. But just as interesting, in the big scheme of things, housing did not miss by much:
Housing starts rose less than expected in May, likely reflecting labor and material constraints, but the overall trend remained consistent with strength in the housing market.

Though permits for future home construction fell, that followed a surge in April, which hoisted them above the 1 million-unit mark. The pullback last month reflected a drop in the volatile multi-family sector, but permits for single-family construction touched their highest level in five years.
The Commerce Department said on Tuesday housing starts rose 6.8 percent to a seasonally adjusted annual rate of 914,000 units. April's starts were revised up to show a 856,000-unit pace instead of the previously reported 853,000 units.
Economists polled by Reuters had expected groundbreaking to rise to a 950,000-unit rate last month.
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Too much ink: I honestly don't get it. CNBC and a few others seem to be fixated on a car company that has delivered -- has it delivered any cars? -- Tesla. Now, yet another story. Tesla wants to see directly to the consumer, not through dealers. But apparently there are laws about that. Yahoo!News is reporting:
Mr. Musk, the billionaire behind PayPal and now Tesla Motors Inc., wants to sell his $70,000 Tesla electric luxury vehicles directly to consumers, bypassing franchised automobile dealers. Dealers are flexing their considerable muscle in states including Texas and Virginia to stop him.

The focus of the power struggle between Mr. Musk and auto dealers is a thicket of state franchise laws, many of which go back to the auto industry's earliest days when industry pioneer Henry Ford began turning to eager entrepreneurs to help sell his Model T.
Dealers say laws passed over the decades to prevent car makers from selling directly to consumers are justified because without them auto makers could use their economic clout to sell vehicles for less than their independent franchisees. Dealers say Tesla's direct sales violate those laws. These franchise laws have insulated car dealers from much of the e-commerce revolution that has hammered other sectors from books to electronics.
On this one: I agree with Tesla 100%. Maybe that's how EVs will finally get a toehold in this country.
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All you have to do is look at the number of times the IRS commissioner visited the White House last year to tell the story.

CNN is reporting:
Last month only 37% of the public thought that the IRS controversy led to the White House, with 55% saying that agency officials acted on their own without direct orders from Washington. Now the number who say the White House directed that IRS program has increased 10 points, to 47%, virtually the same as the 49% who believe the IRS agents acted on their own.