Friday, January 22, 2016

Active rigs:

	1/22/2016	01/22/2015	01/22/2014	01/22/2013	01/22/2012
Active Rigs	47	159	187	188	203

RBN Energy: Kero-Jet Prices Plummet Toward Earth.

Crude oil prices staged a recovery of sorts yesterday (January 21, 2016) after a crushing first two weeks of the year. But even if this proves to be the turning point, a lot of damage has been done to crude and refined product prices along the way.

Jet fuel is a case in point. The U.S. Gulf Coast spot price for kerosene-type jet fuel closed on Wednesday (January 20, 2016) at $0.78/Gal - the lowest it’s been since September 2003, and barring a dramatic recovery in crude oil prices, the refined petroleum product, that is mostly used for aviation and by the military, will remain cheap this year.

That’s good news for the airlines and, one would hope, for air travelers too. But it’s bad news for refiners because of narrowing jet margins over crude oil.  Today, we examine the global market for jet fuel, and how it’s affecting U.S. refiners.

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Notes for the Granddaughters

My parents visited England in 1963. They brought home a vinyl record/album of the Beatles for me. I do not recall what songs were on it; I assume this song was on it.

All My Loving, Paul McCartney
It's a great song, a great video, but the reason I'm posting it is because of two comments:

• Just think of all the people not yet born who someday will wish they lived in our time. Paul McCartney is one reason why.
• Man! That's gotta be an awesome feeling to see children singing the lyrics to your songs that were written like 50 yrs ago.