Record. Screenshot from The Drudge Report:
Trump rally extends. From Reuters: Dow sets record-high close; Fed signals gradual rate hikes.
Watergate? Hardly. All they got on Trump, JR: "I love it." And Donald himself released it. Time to move on.
Facebook's Mark Zuckerberg visits Williston. Even Reuters, via Rigzone reported the story.
Crude oil inventories drew down a whole lot more than anyone expected a few weeks ago. Time to re-balance dropping fast. Time to re-balance: 47 weeks. What's not to love. (Update: methodology was wrong in some parts of this table; it has been updated and corrected at this post):
Week
|
Date
|
Drawdown
|
Storage
|
Weeks to RB
|
Week 0
|
Apr 26, 2017
|
529.0
|
180
|
|
Week 1
|
May 3, 2017
|
0.9
|
528.0
|
178
|
Week 2
|
May 10, 2017
|
6
|
522.0
|
29
|
Week 3
|
May 17, 2017
|
1.8
|
520.2
|
95
|
Week 4
|
May 24, 2017
|
4.4
|
515.8
|
38
|
Week 5
|
May 31, 2017
|
6.4
|
509.9
|
41
|
Week 6
|
June 7, 2017
|
-3.3
|
513.2
|
60
|
Week 7
|
June 14, 2017
|
1.7
|
511.5
|
63
|
Week 8
|
June 21, 2017
|
2.5
|
509.0
|
62
|
Week 9
|
June 28, 2017
|
-0.2
|
509.2
|
71
|
Week 10
|
July 6, 2017
|
6.3
|
502.9
|
58
|
Week 11
|
July 12, 2017
|
7.6
|
495.3
|
47
|
The drawdown:
OPEC production cuts (wink, wink):
Too good not to show again (previously posted):
Perhaps the best chart of the month:
Second best chart of the day:
Re-posting: Turkey withdraws from Paris climate accords. Says it wants US financial aid.
Everybody is saying this. Halliburton says oil will spike in 2020 after $2 trillion in industry cuts. Okay. Saudi is hoping.
Expansion. Williams Partners begins first phase of Hillabee expansion. Data points:
- Alabama
- enhance the capacity of the partnership's Transco pipeline system
- will use the new Sabal Trail pipeline to supply gas to Florida as demand for cleaner energy is increasing rapidly in the growing power generation market
- FERC has approved the project
- will add more than 1.1 million dekatherms /day of pipeline capacity to the Transco system only four years from now (2021)
- three phases
- another huge story that will get little press; meanwhile, a report that a high school is installing a wind turbine gets national attention. LOL.
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US Refinery Inputs Hit Record
MAGA
Prediction: Tesla goes to the capital markets to raise more cash not later than August 31, 2017.
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Our Day At The Perot Museum in Dallas
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