Saturday, August 30, 2014

Labor Day Weekend, 2014; Return Trip To Grapevine; Not Much About The Bakken

On the road; won't be posting as often, consistently for next few days.

Mama's Broken Heart, Miranda Lambert

I just saw the closing price for Friday, August 29, 2014, for CLR.

Disclaimer: this is not an investment site. Do not make any investments decisions based on what you read here or what you think you may have read here..

What else?

North Dakota awash in oil royalties -- collecting way more than forecastThe Dickinson Press is reporting:
North Dakota is poised to collect nearly $9.8 billion in oil tax revenue during the next two years and $2.2 billion more than previously forecast for 2013-15, according to a new outlook released Friday that had elected leaders calling for additional tax relief, greater funding for western counties and more accurate forecasts.
The preliminary forecast from the state Office of Management and Budget assumes that oil production will grow to 1.3 million barrels per day by the end of the current biennium on June 30, 2015, and to 1.4 million barrels per day by the end of the 2015-2017 budget cycle, OMB Director Pam Sharp said.
Gov. Jack Dalrymple noted that the revised projection for 2013-15 shows general fund revenues of $4.88 billion, or about $285 million more than the legislative forecast prepared in February 2013.
The general fund, which covers the general operations of state government, is projected to end the biennium with a balance of $614 million – eight times higher than the $80 million projected in the legislative forecast and $157 million more than an update Sharp presented to state lawmakers in March.
North Platte, NE: I see the local newspaper has this headline: "Russia Outright Lied -- Obama." The story has to do with the Ukraine. "Outright lied." Sort of like ObamaCare -- "If you like your health plan, you can keep your health plan."

Global Warming

Speaking of outright lies (their words, not mine):
Can't make this stuff up. And there's more (must have been a slow news cycle this labor day weekend):

Europe at a tipping point: note the many interesting data points in this article, as reported by Bloomberg:
  • in Europe, it was the coolest August since 2006
  • inventories of heating oil in private homes in Germany at their highest since 2011
  • Germany's solar output is forecast to peak at 20 gigawatts on September 5, 2014 (the record was 24.2 gigawatts on June 6) [Germany and the EU count wood-fired plants as renewable energy; considered "carbon-neutral" -- really?]
So, how fast have global temperatures risen? From the "leaked" UN paper? 0.85 of a degree since 1880. Again, not even a full degree in 135 years. I'm impressed how accurate the "science" of global warming was in 1880. The rise in sea level since that time was measured in millimeters.

From the land of fruits and nuts. California's state Assembly passed a bill requiring railroads transporting Bakken and Canadian oil to inform the state of such movements; meanwhile the same state Assembly rejected a bill to require background check on ammunition buyers. So, apparently nine-year old girls can buy ammunition for their Uzis without a background check. Or at least their parents can.


Russia is one of Germany's major trading partners. I can't imagine Germany being eager to cooperate much with President Obama's call for more sanctions on Russia
... coincide with figures showing annual inflation slowed to 0.3 percent in the euro zone this month. That was the weakest rate of growth since October 2009 and marks 11 consecutive months of prices growing by less than 1 percent.
The deflationary danger policy makers have been denying for months may be upon them.
This adds to the gloomy outlook in Europe. One-, two- and three-year yields are negative in Germany, meaning investors are paying for the privilege of the perceived safety of German debt. A critical money-market rate, the Effective Overnight Index Average -- Eonia for short -- dropped below zero for the first time yesterday, reaching -0.004 percent.

I see the Islamist State has taken a US Embassy residential compound in Libya (news report August 31, 2014). Of course it's not THE "Islamist State of Iraq and Syria (ISIS)." But ISIL's self-proclaimed status as a caliphate it claims religious authority over all Muslims across the world. Whatever. Wasn't it just this past Thursday the president said he would protect US embassies and consulates? No more Bengahzis. Yes, I know, US citizens left the Libyan embassy a month ago or so. A hasty retreat.

Note to the Granddaughters

I stayed overnight with friends in Bowman. Departed about 10:30 a.m. Saturday morning; now in Sturgis. Looks like a mini-motorcycle rally; weather is perfect.

Short stop in Sturgis. 2:03 p.m. Saturday.


Chadron, NE: short stop at 4:45 p.m. Incredibly beautiful countryside; lots of water in the creeks, rivers. Lots of cattle.


North Platte, NE: short stop at 9:25 p.m. Again, a great drive, beautiful countryside, but now, we begin the drive at night. End of scenery.


Salina, KS: short stop at 7:25 a.m. Sunday. Slept west of Hays, KS, during the night. Good rest. Big electrical storm during the night; lots of rain.


Travel center south of Wichita, KS,  9:44 a.m. Sunday. I always stop here. McDonald's has one outlet, wi-fi.


Arrived home safely, about 4:00 p.m. I still enjoy driving through Oklahoma City; I don't know why. I've never stopped in Oklahoma City but there's something about the freeways and the flow of the traffic that make it quite enjoyable. It also means I'm almost home (when returning) and it's the first big city I see when I am heading north. Maybe that has something to do with it.