Monday, May 22, 2017

Why I Love To Blog -- Reason #23 -- May 22, 2017

Weeks ago, if not months ago, this was the first ad-free, no-subscription/password-required blog on the Bakken that saw through the smoke and mirrors of OPEC's production cuts (wink, wink). This was the first ad-free, no-subscription/password-required blog to note that whatever cuts Saudi agreed to were more than made up by taking oil out of storage.

Finally, "everyone" has caught on and it's been reported everywhere. Most recent example: The Wall Street Journal.

But there's a "new game" in town: talking about getting crude oil inventories back to the 5-year average.

The problem with that: the 5-year average was greatly affected by the Saudi surge in production 2014 - 2016. See graphic at this post.

To make this meaningful, we need to get global crude oil inventories back to pre-2014 levels and back to an 18-day supply level vs the current 32-day supply level.

Notes From The Man-Cave

An incredibly beautiful Texas evening. Cool, no breeze, feels like 74 degrees. Wow, pretty good: weather channel says it's 72 degrees.

On the patio -- man-cave -- listening to ABBA in the background, surfing the net, and occasionally reading the current issue of The New York Review of Books. Perhaps the best is the essay on Wilkie Collins. I only know of him because a female friend in another life-time told me about Wilkie Collins and The Woman In White. It was because of her -- the female friend in another life-time, not the woman in white -- that led me to reading the Wilkie Collins novel. I've completely forgotten the story line; I may have to re-read it. LOL.

Interestingly enough, The Woman In White was also referenced in the recent biography of Bram Stoke, the author of Dracula. Yes, that Dracula. 

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