The Energy And Market Page, T+157 -- June 26, 2017

Making America great again. BMW's largest factory in the world -- Spartanburg, SC. Capacity:

• 450,000 vehicles/year. Last year, about 411,000 vehicles. Just announced:
• $600 million new investment at Spartanburg between now and 2021
• 1,000 new hires
• will help BMW reach its target of 450,000 vehicles/year at this one factory
• CNBC was quick to point out that BWM planned this move even before Trump talked about BATs -- an unnecessary point in a business story, but an important point for a left-leaning network
• the Spartanburg facility is BMW's worldwide source for SUVs -- the Spartanburg facility is a big, big deal for everyone involved or interested in the story

Making America great again. German-based company will bring a $12 million aviation-related plant to Auburn, Alabama.

Winkelmann Group is a fourth-generation German company that has three divisions including automotive, building and industry, and flowforming, which is a metal-forming technique.

The Auburn site will use the company's flowform technology that primarily builds high-precision, high-strength, thin wall roto-symmetrical parts from various metals.

"With the North America operation, my team will be able to better serve the aerospace and defense industry, as well as the commercial automotive and oil and gas industry in the U.S.," CEO Heinrich Winkelmann said in the release.

Supply problem, or demand problem. The consensus seems to be that with regard to WTI / Brent, it's a "demand" problem, not a "supply" problem. I've bought into that consensus -- that it's a "demand" problem. On CNBC this morning, Kevin Caron of Washington Crossing clearly said it's a "demand" problem. Many moving parts.