Update On Natural Gas Processing And Fractionation Additions In Alberta -- RBN Energy -- October 11, 2016

IEA: OPEC output hits record in September. Higher production from Libya, Nigeria, and Iraq challenges Saudi and Russian goals  to cut production.

Active rigs:

	10/11/2016	10/11/2015	10/11/2014	10/11/2013	10/11/2012
Active Rigs	32	68	190	185	190

RBN Energy: update on natural gas processing and fractionation additions in Alberta.

Oil-sands expansion projects coming online and the resulting need for more diluent are among the drivers behind a number of midstream infrastructure projects in the province of Alberta, including natural gas processing plants and fractionators; oil and diluent pipelines; and oil/NGL storage facilities. The total volume of work is surprising, considering the fact that oil-sands production economics are iffy right now, if not downright upside down. Today, we continue our look at midstream projects under development within Canada’s Energy Province, this time focusing on gas processing and fractionation facilities.

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Warren Buffett
Building A Mountain Of Cash

Data points from the AP:

• more than $73 billion by mid-summer -- almost 20x the amount in North Dakota's Legacy Fund
• without new spending, the cash will grow by $1.5 billion / month
• BNSF was big, but his biggest acquisition was aviation parts maker Precision Castparts, $32.36 billion
• $20 billion in cash off-limits; Buffett keeps that on hand in case one of his insurance companies faces a big claim (think global-warming induced hurricanes) 
• the article mentions his recent sale of $2.1 billion in preferred stock (for which I suggested he sold for about $3 billion)

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The Market

Apple shares hit a 52-week high yesterday, and in pre-market trading today APPL is up almost 2%.

Alcoa earnings disappoint.

NYSE:

• new highs -- 64 -- HAL (hit a new high yesterday also); Pioneer Natural Resources; RSP Permian; SM Energy; US Silica Holdings
• new lows --  32

Late afternoon: Dow 30 down 235 points.

Mid-day trading: Dow 30 down 140 points. Wells Fargo warns of tough times. Ford is closing its Mustang factory in Michigan for one week after US sales for the vehicle plunged 32% in September. Ford reported earlier this year it will invest $1.6 billion to open new plant for small vehicles in Mexico. New Ford plant will create 2,800 new jobs. Minimum wage, union strikes, and ObamaCare come to mind.

Futures: Dow (mini) down 42 points; WTI giving up gains, back under $51, now that early enthusiasm meets reality. 

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LM Wind Power

Has presence in Grand Forks:

• 1580 South 48th Street
• Grand Forks, ND 58201
• 701-780-9910

Over at SeekingAlpha: GE to buy rotor blades make LM Wind Power for $1.65 billion. LM Wind Power is based in Denmark.

When I was up in the Bakken, I was told that components for the new wind farms near Hebron and Tioga were coming from Denmark, Denver, and China.