Forget Doha -- It's All Doo Wah Diddy Diddy To Me -- April 18, 2016

One thing I've learned from the blog: things that may seem coincidental are often not coincidental at all. In hindsight, one can see the connecting dots. These two stories appeared within days of each other. One of the stories seemed to have come out of the blue. The other story could simply be an attempt to keep investors / creditors at bay.

These are the two stories:

• Lynn Helms -- "fast and furious."
• Harold Hamm -- "forget Doha."

I'm sorry, I can't resist.

Doo Wah Diddy Diddy, Manfred Mann

Wow, I could add so many great songs -- just from Manfred Mann -- the granddaughters have so much to experience!

Back to Mr Helms and Mr Hamm. It's just hard for me to believe that Mr Helms would make his "fast and furious" speech without some basis. He has to be looking at the same data I'm looking at and saying, "wow, 29 active rigs, no fracking, wells being shut in, and North Dakota is still producing 1.1 million bopd -- the same amount produced two years ago with 200 rigs, and frack spreads spread so thin they couldn't keep up."

Speaking of which: we haven't heard much about the Red Queen lately, have we?

Bentek opined that the Bakken would be at 2.2 million bopd at some point -- looking back, I think they were too conservative. With the data points in the previous paragraph, it's hard to believe that, unfettered, North Dakota might not be at 3 million bopd.

For newbies: I am inappropriately exuberant.

Random note: we were told this would one of the worse earning seasons ever. We were told about a month ago that a recession was all but guaranteed. GDP Now forecasts no growth for 1Q16. So, how does "the market" respond? Flirting with new all-time highs. Dow goes over 18,000 for the first time since July, 2015.

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