| 4/15/2014 | 04/15/2013 | 04/15/2012 | 04/15/2011 | 04/15/2010 | |
|---|---|---|---|---|---|
| Active Rigs | 188 | 186 | 206 | 174 | 108 |
RBN Energy: an update on the LPG export industry in Washington State.
On March 4th, Petrogas announced the purchase of the Ferndale, WA LPG terminal, the only functioning butane and propane export facility on the U.S. west coast. Then last Thursday (April 10th) Sage Midstream announced a project to build another world scale LPG (liquefied petroleum gas) export terminal a couple of hundred miles south at the Port of Longview, WA. These are big developments for the west coast LPG markets. Today we begin a blog series that examines the history of Ferndale, how it has been used in the past, and what these two announcements mean for the future of west coast propane and butane markets.
Rusty and I both have a warm spot in our heart for Ferndale, having managed the commercial activities out of that terminal more than two decades ago when we were with Texaco. Ferndale is a 750MBbl storage, tank car, truck and waterborne import/export facility that sits near several Northwest area refineries, and is just a tank car ride away from some of the richest natural gas liquids (NGL) producing areas in North America. For most of its existence, Ferndale has been the backwater of NGL markets, almost exclusively used for butane exports to Latin America and the Asia/Pacific markets. But now NGL markets are changing dramatically due to the onslaught of new production from the shale revolution. And exports have become the market of choice for NGL surpluses. Up to now most of the action in exports has been along the Gulf Coast, and to a lesser extent in the Northeast out of the Marcus Hook terminal.
But now attention is shifting to the West Coast.And I think that's the big story: the US energy story shifting from the east to the west.
The other reason to read it: a bit of personal history of the blog's author is there.
The Wall Street Journal
Obama, Putin talk as unrest roils Ukraine. To me, listening to NPR this morning, this sounds just like Syria all over again. With much more at stake.
I reported this yesterday; I think it's a bigger story than most Jaywalkers realize (even if they knew): US retail sales surged 1.1%. Best monthly growth since September, 2012. Pent-up demand after a long winter. Or more likely, as the winter wore on and on, folks ran out of winter "stuff," and had to re-stock.
CBO sees US deficit shrinking more than expected in 2014.
The CBO, a nonpartisan agency that advises Congress on budget policy, on Monday said the adjustments will lower its forecast for the 2014 deficit to $492 billion, or $23 billion less than it estimated two months ago. That's equivalent to 2.8% of gross domestic product, marking the smallest deficit since 2007. Since 1980, the deficit has averaged roughly 3.2% of GDP.The Malaysian plane is in water too deep for a robotic sub to reach. Search are is 81,000 square miles; pace of search: 15 square miles daily. OK. CNN has a story for the next 1,000 days.
GE already tired of Immelt?
US DOE snookered. Hong Kong billionaire Richard Li is expected to make a killing on the Fisker Automotive loan he bought from the Department of Energy.
Data of about 900 Canadians taken in Heartbleed breach.
This makes me feel good. I mentioned at Starbucks the "mini-crash" on Friday was not a typical stock-market-wide correction. I noted that it only affected biotech and tech, perhaps, in general, suggesting that energy firms actually did fine (and the price of oil actually rose). Now today, top story, third section: "Now that markets are no longer moving in lock step, corporate fundamentals, and the ability to pick stocks, are becoming more important." Think HK and GDP (Goodrich Petroleum).
CSX hit hard by the war on coal. Warren might have been on the same track when he bought BNI had the Bakken not come along.
Wheat rises 3% as Ukraine tensions threaten exports, production. Good news for NoDak farmers.
The Los Angeles Times
The Dickinson Press
Dickinson Public Schools mulls $67 million in building projects.