Thursday, March 17, 2016

Thursday, March 17, 2016

Busy, busy day, but I'm here and we will soon get started.

I got my 5.0 mile ride to Starbucks in before the tornado hit. The tornado siren went off in the football field / high school complex behind our back door. My wife saw me getting ready to ride, asking if I was going to ride in the tornado. I told her I never ride in a tornado, but if I see one, I will take some photos.

Look up the adage "crying wolf" in a DFW phrase book and you will see a picture of a tornado siren.

And so it goes.

Active rigs:

Active Rigs31110191185205

No wells came off the confidential list today.

RBN Energy: over-delivering gasoline, diesel, and jet fuel to the northeast markets.
Every day, refineries along the U.S. Gulf Coast produce far more gasoline, diesel and jet fuel than the region could possibly use, and demand for these fuels along the East Coast for transportation and heating is far higher than local refinery production. To help bring the two regions into balance, a complicated network of pipelines, ports, Jones Act vessels and storage facilities has been developed over the past 70 years—and continues to be updated and expanded. Today, we begin a new series on how millions of barrels of these fuels are moved between and within the nation’s largest refining region and the region where more is used than any other part of the U.S.
As we’ve said many times in the RBN blogosphere, the U.S. energy sector has undergone a nearly top-to-bottom transformation over the past few years, mostly due to the Shale Revolution. New production areas for crude oil, natural gas and natural gas liquids (NGLs) have opened up; new oil, gas and NGL pipelines have been constructed (and the flow-direction of many old—and not-so-old--pipelines reversed).  Two things that have not changed, though, are 1) more than 50% of the nation’s refinery capacity is along the Gulf Coast, and 2) the biggest market for the transportation fuels (and heating oil) that refineries primarily produce is the East Coast.
Top Yahoo!Finance Story Today

I posted this yesterday, and now it's the first story in the list of Yahoo!Finance stories today, said to have been posted six hours ago: Shell and Saudi Aramco split their assets including the three refineries along the US Gulf Coast.

I think the bigger story is how fast the price of oil is moving up, something we've talked about before. 

Job Watch

From Economics Analytics Research:
  • up 7,000 to 265,000 
  • previous week revised down 1,000, to 258,000
  • four-week moving average increased 750 to 268,000

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