Tuesday -- October 14, 2014

Happy 20th Birthday

Pulp Fiction was released twenty years ago, October 14, 2014.

Pulp Fiction, Dance Scene

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Energy

Active rigs:

	10/14/2014	10/14/2013	10/14/2012	10/14/2011	10/14/2010
Active Rigs	188	183	192	195	153

RBN Energy: a continuation of the Panama Canal expansion series.

The Panama Canal expansion, set for a January 2016 debut, will slash the travel time for larger ships ferrying U.S.-sourced LNG and LPGs from the Gulf Coast (or East Coast) to Japanese and other Asian buyers. And—no surprise here--for ship charterers, time is money, and the ability to make three roundtrips instead of two every three months is a big deal. Being able to use ships with larger, “New Panamax” dimensions is welcome news to Asian utilities awaiting delivery of American LNG, and to Asian petrochemical manufacturers seeking to diversify their LPG sourcing and/or shift from naphtha to LPGs as their preferred feedstock. In today’s blog, we continue our look at what longer, wider and deeper canal locks mean for U.S. hydrocarbon exports.

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The Wall Street Journal

Ebola responses strain hospitals.

CDC Director calls for new approach on Ebola control.

In mid-term elections: Dems have lost edge on economic, foreign policy. What else is there? Oh, yes, entitlements, environment. 

A bit late? I use the same tag, "Lost Decade." Germany and France ask economists for advice to avoid "Lost Decade." Perhaps the headline writer forgot one word. Rewriting the headline -- "Germany and France ask economists for advice to avoid another Lost Decade."

Syrian class jolts Turkish peace talks. The siege by ISIS of the Syrian Kurdish city of Kobani has roiled Turkey's push to end its own three-decade Kurdish insurgency, as Ankara put forward a new peace plan on Monday.  [Wow, I just mentioned that in an e-mail yesterday, how ISIL has changed Turkey's Kurdish "problem."] [Elsewhere, in Foreign Policy, the problem with the coalition: it doesn't exist.]

A bridge too far: Canadian Pacific's proposed merger with CSX is still being pushed.

Battery fires on planes remain an issue. I thought this issue had pretty much burned itself out.

Targa to buy Atlas Pipeline. Previously reported.

US stocks (equities) continue to drop.

Global glut pressures oil prices.

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The Los Angeles Times

CDC: error in Dallas probably exposed others to Ebola.  Fortunately, Ebola transmission is difficult, at least according to the president. Previously reported. UN medical worker infected with Ebola has died according to a German hospital.

Love Field (Dallas) restrictions expire; Southwest Airlines launches new routes.

Oil price drop threatens to hit Russian, Iran harder than sanctions.

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What's Wrong With This Picture

In case you forgot, the New York Waldorf Hotel --

• serves as home to the American ambassador to the United Nations
• hosts the US president during the annual UN General Assembly
• hosts hundreds of US diplomats during the annual UN General Assembly
• makes a great salad

"China" bought the New York Waldorf Hotel and will spend hundreds of millions of dollars for a "major renovation" of the hotel. Oh, really?

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Keeping The Bakken In Perspective

Occasionally the New York Times or similar newspapers run stories about the "first profession" in the Bakken. I keep several written journals, and regularly transcribe them. I am currently transcribing one journal that I was writing back in 2008. No editing, here's what I wrote on March 11, 2008:

Governor Spitzer of NY – who so many hate for his ego, etc – was caught up in high-price, high-class prostitution ring. Has to be devastating for the family – but he hasn’t resigned yet – will he, like Clinton, try to ride it out? The difference between Clinton and Spitzer: a) he’s not Clinton; b) doesn’t have ground swell of support like Clinton had; c) only a governor and not a president, etc, etc. Hard to believe that he can survive politically. $1,000 to $5,000 for one hour – prostitution – just tells you how much money is out there – wow.

By March 13, 2008, he had resigned.