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Fudging numbers: the EIA reported 1.4 million more bbls of oil production per day in May than was actually produced -- Focus on Fracking -- weekly edition posted; link here.
Riots: in Chicago; over victim wounded by police; police response unprepared;
Standing Rock: stops bikers from using highways to get to Sturgis; a non-story until the bikers in Sturgis get bored
The perfect equity portfolio:
- grossly overweighted in AAPL
- portfolio "goes up" even on days AAPL "falls"
- note: today, AAPL is up $5/share in pre-market trading
Rig counts, from Westwood unconventionals:
- Permian Basin -1.6% to 122 rigs compared to last week's 124 rigs
- Eagle Ford -8.3% to 11 rigs compared to last week's 12 rigs
- Williston stayed flat at 11 rigs
- Haynesville stayed flat at 32 rigs
- Marcellus stayed flat at 25 rigs
- Cana Woodford stayed flat at 6 rigs
- DJ-Niobrara stayed flat at 4 rigs
- Powder River stayed flat at 0 rigs
- Utica stayed stayed flat at 6 rigs
Permits
Fast and furious:
- ICYMI: EIA reports that crude oil production in May has a record monthly decrease; link here; see Focus on Fracking link above, or click here to go direclty to FOF;
- Meng's mysterious exit;
- Dow Jones futures: surge; Trump extends unemployment benefits; Investor's Business Daily;
- Tracking the wrong metric -- Bloomberg;
- Exxon tears up debt-fueled plan -- Rigzone;
- Warren Buffett signals big shift in investing stance, Berkshire reports, paywall; Investor's Business Daily; record buybacks of his own stock;
Apple:
- AAPL rallies after one analyst raises target to "street-high" $515; supply chain info suggests higher iPHone 12 forecast --MarcketWatch;
- Apple goes to war with gaming industry, TechCrunch via Yahoo!Finance;
- Smelling blood in the water, Facebook and Microsoft clash with Apple amid antitrust probes -- Yahoo!Finance;
- The largest fund in New Jersey's embattled pension sold Apple, Microsoft, and GE stock in the second quarter; paywall; Barron's;
- Even as AAPL nears $2 trillion market cap, the stock may still be a buy; paywall, Barron's;
Saudi Arabia:
- in deep trouble; sticks to dividend pledge despite plunge in earnings; paywall, Financial Times,
- Saudi Aramco's earning show why Apple is now the world's most valuable company; paywall, Barron's;
- Saudi Aramco's first-half profits plummet 50%; CEO calls results "solid"; MarketWatch,
- Saudi Arabia turns off America's oil taps again; Bloomberg;
- quick: what US state depends most on Saudi Arabian oil?
- US oil imports from Saudi Arabia, tracked here, EIA;
One is drill all you want, the other is pay to play.
ReplyDeleteThat is absolutely correct. When I get caught up, I'll come back to this. I think it's fascinating.
DeleteUpdate on Saudi Arabia:
Deletehttp://themilliondollarway.blogspot.com/2020/08/random-update-saudi-arabia-saudi-aramco.html.