Locator: 51622ARCHIVES.
EVs -- the Range Rover: $210,000 -- will start at ... And it only takes a half-hour to refuel ---
An old Texas saying:
Beth gets it; CNBC anchors do not:
This is the last one (time for some music):
Tuesday, September 1, 2026
For The Archives -- Nothing Else -- If You Came Here For The Bakken, Keep Scrolling -- September 1, 2026
An old Texas saying:
Beth gets it; CNBC anchors do not:
This is the last one (time for some music):
Daily Activity Report -- Seven New Permits; Five DUCs Reported As Completed -- September 1, 2026
Locator: 51621B.
Texas: Tropical Storm Edouard has made landfall -- about 9:30 p.m. CT (local time). Johnson Bayou, Louisiana, just miles from Texas.
Iran: CENTCOM completed its wave of attack following Iranian attacks on two very large oil tanker, and on US military in Jordan. Now it will be interesting if Iran "holds back," or if Iran wants to re-attack. Iran has never run up against an adversary like Trump / Hegseth. Later: it appears Iran has launched missiles on Bahrain.
Economic stresses are showing:
Dell: had an incredible quarter. If Dell had these results one would think Apple will do similarly well this next quarter.
Inference token volumes expected to grow 87x by 2030.
Palantir:
You can howl at the wind, but AI is here to stay.
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Back to the Bakken
WTI: after renewed kinetic action --
- 3:23 p.m. CT: WTI trading at $90.89; up $5.13; up 5.98%. Pulled back slightly at the close.
- CVX: at the close --
Active rigs: 36.
Seven new permits, #43273 - #43279, inclusive:
- Operator: XTO
- Field: Lost Bridge, Dunn County;
- Comments:
- XTO has permits for seven Hurt Federal permits, SWNE 25-148-97,
- to be sited 2296 / 2377 FNL and 1615 / 1798 FEL.
Five producing wells (DUCs) were reported as completed:
- BR (5): two Carlsbad and three Mazama permits, McKenzie County.
The Dow -- CENTCOM Attacks IRGC Today -- September 1, 2026
Locator: 51620THEDOW.
Note: Berkshire Hathaway CEO Greg Abel is scheduled to appear for a TV interview on Wednesday, tomorrow, September 2, 2026, 5:30 a.m. ET, CNBC. With Becky Quick?
Updates
3:23 p.m. CT: WTI trading at $90.89; up $5.13; up 5.98%.
11:42 p.m. CT: CENTCOM reporting striking IRGC along the coast of Iran, maybe elsewhere, following attacks on two ships in the strait (yesterday) and strikes US military forces in Jordan.
The attack is not a surprise; the timing might be a surprise -- the US reacted soon after the Iranian attacks and acted relatively early in the day, about 7:00 p.m. local time (time in Iran). Prior to the IRGC attacks on the two ships, the Iranian government had actually "blinked," saying Iran would honor the ceasefire / memorandum some weeks ago if US did the same.
Dow drops further. Now down about 500 points, but appears to stabilize about 430 points down, follows the rise of WTI, now close to $90. It appears $90 is a short-term ceiling.
WTI; $89.79. Up $4.03; up 4.70%.
CVX: unchanged.
Original Post
The Dow has been higher in 15 of the last 16 months. Through August, 2026.
This has happened only once before: 1935 - 1936.
WTI: $88.26.
Chevron And The Venezuela Deal -- September 1, 2026
Locator: 51619CVX.
The deal as reported by The New York Times, September 1, 2026. Link here.
From the linked article:
Venezuela has possibly the largest oil reserves in the world — though it hasn’t produced much in recent years. The Trump administration hopes to change that.
President Trump announced on Friday that the United States had entered an agreement with Venezuela and a private oil company to “secure majority control” of 65 billion barrels of the country’s oil, or about a fifth of its reserves.
The deal is highly unusual because the U.S. government generally leaves oil exploration to private companies and does not take stakes in those businesses. It is also an ambitious project that is likely to take years to bear fruit given Venezuela’s dilapidated infrastructure, widespread corruption and unstable politics.
Here’s what you need to know about Venezuelan oil. Link here.
Why do I get the feeling this will not go without a hitch.
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Waymo
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Fashion Debacle At The NYC Met
From the link:
For more than three decades, the editor and star maker Anna Wintour has presided over the Costume Institute’s annual exhibition at the Metropolitan Museum of Art in New York — and its accompanying Met Gala, a glittery, billionaire- and celebrity-studded fund-raising dinner that has become the fashion world’s equivalent of the Super Bowl. In fashion, few have had more power.
How durable is it? Her role in the decision to honor an established antisemite, the designer John Galliano, at the 2027 Met Gala brought that into doubt. Yesterday, Galliano pulled out of the exhibition planned to showcase his work. “I do not want the debate surrounding me to place the Met in a difficult position or distract from the remarkable work of the Costume Institute,” Galliano wrote in a statement. “I also recognize and respect that an exhibition honoring my work would be painful for some.”
Why was he selected? Galliano was convicted of an antisemitic hate crime by a French court in 2011. He was said to have screamed “Merry Christmas” at a woman in an Italian spa in 2019 who was speaking Hebrew with her daughter. (Galliano’s spokesman denied that the incident happened.) The Times has quoted politicians, art-world heavies and Jewish leaders who were appalled by the pick.
“This is not a freedom of expression issue,” one New York assemblyman told my colleagues Vanessa Friedman and Jacob Bernstein. “This is a judgment issue, and I am baffled that anyone saw this as anything other than a terrible idea.”
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