Net worth: does anyone really believe this? Link here. For US households with age of head of family, 65 to 74 years of age:
- median net worth: $266,400
- average net worth: $1.2 million
- next time you shop at Walmart, just imagine that half of all those seniors walking (or riding) down those aisles have a net worth greater than a quarter of a million of dollars;
- this is why we needed the $1.9 trillion stimulus program;
Fast and furious:
- Saudi Arabia's PIF signs $15 billion loan, Reuters;
- Another weekly petroleum report we can ignore, twitter;
- BP exits Kazakh oil projects to focus on renewables strategy, Bloomberg;
- Most misleading headline ever: US natural gas consumption was lower in 2020 in all sectors except electric power, EIA;
- Disney: new streaming milestone: 100 million Disney+ subscribers (+ means they pay), IBD;
- Geico: most ridiculous claim ever, Reuters;
- Best buy ever? How Berkshire Hathaway makes money, Investopedia;
- When adult children get cut off by their parents, time to go on Oprah, twitter;
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Back to the Bakken
Active rigs:
| $64.65 | 3/10/2021 | 03/10/2020 | 03/10/2019 | 03/10/2018 | 03/10/2017 |
|---|---|---|---|---|---|
| Active Rigs | 15 | 55 | 67 | 59 | 44 |
No wells coming off confidential list today.
RBN Energy: ample supply, outflow constraint kept lid one northeast gas prices in February, part 3.
Last year served as something of a bellwether for what’s to come for the Northeast gas market in the long term: increasing takeaway pipeline constraints and weakening gas price differentials by mid-decade. The region’s outflows surged to record highs in the fall of 2020 as production also reached fresh highs. Just a couple weeks ago, the region notched another milestone on the pipeline constraint yardstick: record outflows on some pipes and near-full utilization of southbound routes on the coldest days of winter — something we don’t normally see, as gas supply requirements in the Northeast peak with heating demand and less gas is available to flow out of the region. This time, the surge in outflows and the resulting constraints were driven more by spiking demand and gas prices downstream than by oversupply conditions at home, but the result was the same: the Northeast had by far the lowest prices in the country. This happened even as other regions recorded triple-digit, all-time high prices. Today, we examine how Appalachia outflows and takeaway capacity utilization shaped up during Winter Storm Uri.
