CLR With Four More Costanza Permits; Active Rigs At A Recent High -- July 26, 2024

WTI: $77.16.

Active rigs: 40 (recent high).

Four new permits, #40968 - #0971, inclusive:

• Operator: Grayson Mill
• Field: Siverston (McKenzie)
• Comments:
• Grayson Mill has four more Costanza permits, NENE 26-150-98, 
• to be sited between 944 FNL and 1047 FNL, and between 997 FEL and 936 FEL

Two producing wells (DUCs) reported as completed:

• 40112, 2,154, CLR, Lundberg Federal 6-8H, Dunn County,
• 40113, 1,639, CLR, Lundberg Federal 7-8H, Dunn County,

The EV Narrative Continues -- Ford Continues Plans To Build EVs -- What's Einstein's Definition Of Insanity? July 26, 2024

Locator: 48243EVS.

The EV narrative continues.

Link here. 

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Ford Continues To Build EVs

Link here.

Today, the Dow surged 800 points. 

Short Squeeze -- July 26, 2024

Locator: 48242INV.

Wow. The first 300 points were due to reaction to economic data today. Everything else -- short covering!

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Amazon

This is not unusual in our apartment complex, just ten minutes from DFW and multiple Amazon fulfillment centers. 

Order something this morning and one will have it by early afternoon. Order something late this evening and it will be at your door tomorrow morning.

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Grammy's Culinary School Graduate
Advanced Degree
Summa Cum Laude

It's All About Natural Gas -- Again -- Taiwan To Shut Down Last Nuclear Reactor -- Will Rely On (More) Natural Gas -- July 26, 2024

Locator: 48241NG.

Link here.

Re-Posting -- Risk Of Recession -- For Those Living Under A Rock, This Is A Biden-Harris-JPow Economy -- July 26, 2024

Locator: 48240ECONOMY.

For those living under a rock, this is at the four-year mark of the Biden-Harris-JPow economy. 

Updates

Later, 12:08 p.m. CDT, from The New York Times --

Later, 11:52 a.m. CDT: in response to economic data today -- certainly doesn't look like the market is pricing in a recession -- but we certainly hear a lot about a hard landing ... again, this is a Biden-Harris economy.

Reality: Most Recent GDP

According to the pundits, we should be in a deep recession by now -- but --

What We Were Thinking

As far back as 2022, link here: wow, was I wrong -- I must have been drinking the Kool-Aid --

Re-posting from 2019.

One of my pet peeves is all the talk over the years about the risk of recession. We haven't heard that -- "risk of recession" in quite some time -- thank goodness -- but I'm sure it will pop up again, sooner or later.

But not today.

Growth in GDP? MUCH MORE THAN EXPECTED!!

Wow, talk about a Goldilocks economy.

From The WSJ:

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Historic 

Link here. Practically as good as it gets.

"Everyone" it seems "demands" that the Fed remain true to its word -- to follow the data. And,  yet, it appears, individual investors often don't follow the data at all. Many "investors" seem to confuse politics with investing.

Is anyone paying attention? 51 months of expansion and a Goldilocks economy, exactly overlaps the Biden administration.