RBN Energy: Ethane's price descent.
The price of ethane on Friday was only slightly above the price of natural gas on a BTU basis – a ratio of 1.03. But if you adjust the ethane price for the cost of transportation and fractionation (T&F) to get the value back to the plant level it gets a lot worse. Assume 10 cnts/gal for T&F and the ethane price is more like 60% of the BTU equivalent price of natural gas at the plant tailgate. These are serious ethane rejection economics for plants feeding Mont Belvieu. And of course, Conway is worse with pricing at 19.9 cnts/gal. Way above the prices this summer, but still in ethane rejection territory.Grid problems unable to support India's electric vehicle industry, the New York Times.
Oil refiners using falcons to scare of starling infestations, the WSJ.
For investors: KOG and CLR are recommended -- SeekingAlpha.com.