Poll: I put up the poll at the sidebar at the right asking readers whether they thought we had seen the high for WTI this year -- at $81 (on the generous side) on October 12, 2021 -- for a specific reason.
That was the day that Jim Cramer called it -- saying that the high for WTI was in for calendar year. He had some historical data to back up his claim. If WTI does not trade higher than $85 for at least two consecutive weeks before the end of the year, I will give Jim the "win."
Gut check: by the way, speaking of Jim Cramer. One Monday night earlier this week on "Mad Money," a caller asked Jim about AirBNB. Jim paused; he was unsure; mumbled and then answered: "Hold. I would not sell now." What happened the next day and the next two days?
- Monday night, when asked about AirBNB, it closed at $167
- he told the caller not to sell
- Tuesday morning, AirBNB surged to $174. Wow.
- Wednesday, peaked at $175
- today, Thursday, some profit taking, trading at $172
- I assume the caller was happy with Jim's answer.
New England, "Peter, I will take "Yes" to block." New England will need more "clean power" even if the CMP corridor is built. Link here. A reader sent me this link. First question: "clean power"? Even if the CMP corridor is built, will New England need more power -- regardless of source -- or only more "clean power"? Does that make sense? Let's see what the writer says:
The upcoming referendum over a transmission line through western Maine will have broad implications for New England and Quebec’s energy future, as the demand for massive quantities of clean energy will persist regardless of the outcome.
Mainers will vote November 2, 2021, on a question that aims to block the $1 billion corridor being built by Central Maine Power affiliates and Hydro-Quebec through western Maine while requiring legislative approval for infrastructure projects on public lands. A yes vote in the referendum would block the project, while a no vote would allow work to continue.
It has been an all-consuming political fight in Maine, where more than $60 million in political spending has come from the energy companies on both sides of the project. The tension over the project has overshadowed New England’s persistent demand for new power. It was a response to a massive clean-power request from Massachusetts in 2017 that only took center stage after a similar proposal in New Hampshire was nixed by regulators.
Is anyone paying attention?
- ten-year treasury: down a bit or at least not going higher, 1.53%;
- if inflation was that big of a concern would the ten-year treasury be going up? I don't know; I don't understand macro-economics
- WTI: $81.18
- Bitcoin surging
- US announces lease sales for massive offshore wind expansion -- that will solve the problem (LOL);
- not sure how accurate or meaningful but it is being reported that Resident Biden has consulted with the US oil industry about soaring gasoline prices;
- some say he also consulted recently with OPEC but that is being disputed, I believe (fact-check me on that)
- market surging today
- inflation numbers not coming in as scary as folks thought they would (arguable)
- the gap between investors and non-investors continues to widen
- worse, the gap between the haves and the have-nots will really continue to widen (I'm thinking of those folks going on strike, and the folks not returning to work due to Covid fears)
- the daycare issue: malarkey. Daycare centers fully opened where we live; I assume that's true elsewhere;
- schools not opening? pain mostly self-inflected
- CNBC talking head: we're seeing the beginning of the end of supply shortages
- were you aware that the ports of Los Angeles and Long Beach pretty much shut down on weekends? again, a lot of the supply chain shortages were self-inflicted
- four million "would-be" workers are staying home each month to care for a family member with "Covid"
- faux environmentalists: created a manufactured natural gas shortage for folks in the northeast; no one seems to care -- yet.
- the supply chain shortage: CNBC tracked the Care Bear problem
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