Week 4: January 24, 2016 -- January 30, 2016

The big story this past week that turned into a non-story surrounded rumors that Russia and Saudi Arabia -- "lifelong" enemies -- were discussing crude oil quotas in an attempt to raise the price of oil. By the end of the week, nothing more was heard.

The other big story, of course, which was reported almost nowhere was the fact that Kuwait reported snow for the first time "ever."

Temperatures in Kuwait soar up to 50C in the summer months and even in winter 20C is the norm. However, on Thursday the temperature was as low as 3C.

There is no record of snow having fallen in Kuwait before, although the emirate has experienced hail and frost in the past when temperatures have fallen in the winter.

A Kuwaiti told MEE that Thursday's snow was a first for the country.

"I asked my grandfather, he said there has never been snow before," they said, preferring to remain anonymous. "Everyone is surprised."

The Kuwaiti who preferred to stay anonymous no doubt heard that some warmists advocate beheading those who do not believe in global warming. Or at least "arresting them." By the way, this past week, the entire world was under a "snow watch."

Perhaps the "best" story this past month was learning that it is hard to measure snowfall in a blizzard -- at least in Washington, DC.  Or perhaps it was this one: one dead duck in a Bakken waste pit and the EPA is on the operator like flies on poop, but lead-contaminated water in Flint, Michigan -- and they know about it for months.

Another non-Bakken story: when one absolutely, positively needs reliable electricity, one goes with fossil fuel.

Operations
North Dakota ends week with new post-boom low in number of active rigs: 45
CLR proposes 22 wells on a new 2560-acre unit in Elm Creek oil field
Highlights of the February, 2016, NDIC, hearing dockets agenda
Bentek predicts minimal decline in North Dakota crude oil production for December, month-over-month
Halcon reports a huge Bakken well 
Note number of DUCs in first 100 North Dakota oil permits in 2015
CLR CAPEX for 2016
Oasis CAPEX for 2016

Pipelines
Phillips 66 may consider bigger stake in Bakken pipeline

Refinery
MDU refinery update 
Diesel fuel is really, really inexpensive 

Bakken economy
Legacy fund update: $3.4 billion (with a "B") through December, 2015

Miscellaneous
US crude oil stocks at highest inventory level for month of December since the Great Depression
With drop in gasoline prices, vehicle fuel economy has dropped for nine consecutive months, year-over-year
DOT estimates Americans driving record amount of miles
Public transportation ridership dropping in southern California
Public transportation (light rail, bus) ridership dropping in Arizona 
Minnesota regulators approve $30 million solar project for emergency power
Electricity down to 3.5 cents/kw-hour
Oasis to issue significantly more shares
Third of three US crude oil shipments reached European destinations
Brent crude oil futures to rollover/expire well in advance of WTI crude oil futures
Sanctions lifted: Iranian crude oil exports likely to be a drop in the bucket