Incredible Hailstorm In Western North Dakota, Eastern Montana -- July 12, 2016

In addition to the photos and the video, some interesting comments about hailstorms at this Weather Channel link. Some of the worst damage was in/near Killdeer, North Dakota.

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Saudi Energy Minister Is Worried

Updates

Later, 8:40 p.m. Central Time: Saudi Arabia Minister of Energy has reason to be concerned: American operators apparently making money on $40-oil.
 

Original Post

 

I didn't watch the video. I only read the headline and the caption. The caption says the Saudi Arabian minister of energy thinks oil needs to be between $50 and $100. He says $50 oil is too low. Comments:

• that's a pretty wide range
• the tea leaves suggest we are stuck in a trading range of $45 to $49 in current US dollars
• Saudi will hemorrhage cash reserves at anything less than $90, and below $60 their losses are unsustainable
• there is no evidence that Saudi Arabia will/can significantly increase crude oil exports

I just saw the video -- don't waste your time.

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Active Rigs Back Down To 28

	7/12/2016	07/12/2015	07/12/2014	07/12/2013	07/12/2012
Active Rigs	28	73	190	186	212

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Market At Late Afternoon

NYSE, new highs: 277

• Cabela's
• Chevron (a big whoop)
• Cliffs Natural Resources
• XOM (a huge whoop)
• Medtronic
• Murphy USA
• Newfield Exploration (NFX) (who wudda thought?)
• ONEOK (OKE)
  ONEOK Partners (OKS)
• Winnebago Industries

NYSE, new lows: 2

• Humana

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GOP Hypocrite

Paul Ryan defends the wall around his own home, but won't put up a "wall" to protect America.  He says he put up the wall around his own home to protect his three children. The ranchers in Arizona and Texas along the Mexican border know exactly what we're talking about.