Propane stocks rise another 1.8 million bbls to a record 102 million bbls, almost off the charts.
US distillate stocks continued usual seasonal drawdown, a -1.5 million bbls, but still well above the ten-year average; and still +23 million bbls over 2014 level.
US gasoline stocks near their 10-year high; fell to 24.4 days of current consumption, from 24.8 the prior week; close to 2014 level of 24.1.
US gasoline stocks fell -2.7 million bbls, as refiners began to correct post-summer oversupply.
Ready for next recession? Current "US expansion" already 76 months old, longer than all but four previous expansions (only ones longer: 1991 - 2001; 1961 - 1970; 1938 - 1945; 1982 - 1991). The longest last about 120 months; thus we have long way to go to beat that record. It looks the average expansion lasts about 24 months.
Platts: OPEC crude oil exports to rise 60,000 bopd to average 24 million bopd in four weeks over October 31.
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Notes For The Granddaughters
Perhaps others remember "Mazda lamps." I did not. I first came across "Mazda lamps" in a letter written by Martha Gellhorn. From wiki:
Mazda was a trademarked name registered by General Electric in 1909 for incandescent light bulbs. The name was used from 1909 through 1945 in the United States by GE and Westinghouse. Mazda brand light bulbs were made for decades after 1945 outside the USA. The company chose the name due to its association with Ahura Mazda, the transcendental and universal God of Zoroastrianism whose name means light of wisdom (Ahura = light, Mazda = wisdom) in the Avestan language.
In 1909 the Mazda name was created for the tungsten filament light bulb. GE sold bulbs under this trademark starting in 1909. GE promoted the mark as identifying tungsten filament bulbs with predictable performance and life expectancy. GE also licensed the Mazda name, socket sizes, and tungsten filament technology to other manufacturers to establish a standard for lighting. Bulbs were soon sold by many manufacturers with the Mazda name licensed from GE, including British Thomson-Houston in the United Kingdom, Toshiba in Japan, and GE's chief competitor Westinghouse.
Tungsten-filament bulbs of the Mazda type were initially more costly than carbon filament bulbs, but used less electricity. Often electrical utilities would trade new lamps for consumers' burned-out bulbs. In at least one case the authority regulating energy rates required the utility to use only tungsten bulbs so as not to inflate customer's energy use.
The company dropped the campaign in 1945. GE's patents on the tungsten filament lamp expired in the late 1930s and other forms of lighting were becoming more important than incandescent bulbs. GE stopped licensing the trademark to other manufacturers, although it continued to renew the trademark registration up to 1990. The registration on trademark no. 77,779 expired in 2000.
Today, the Mazda name is mostly associated with the Mazda automobile manufacturer of Japan (which coexisted with Toshiba's Mazda bulbs in its early years). The Mazda trademark is now split between the Japanese manufacturer where it applies to automobiles (including automobile lights and batteries) and GE for non-automotive uses.
GE's Mazda bulbs were manufactured in northeast Minneapolis. The building is now headquarters for Minneapolis Public Schools.
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