The Colonel's Secret Recipe Revealed; The Economics Of A Crude Oil Pipeline -- RBN Energy -- August 23, 2016

The Colonel's secret recipe; a link posted at The Washington Times which will take you to a photograph of the recipe at the Chicago Tribune.  For every two cups of flour:

• 2/3 tsp salt
• 1/2 tsp thyme
• 1/2 tsp basil
• 1/3 tsp oregano
• 1 tsp celery salt
• 1 tsp black pepper
• 1 tsp dried mustard
• 4 tsps paprika
• 2 tsps garlic salt
• 1 tsp ground ginger
• 3 tsps white pepper

My hunch: we will see this as a "new mix" on the grocery shelves by the end of the year. If not, maybe something for a young entrepreneur to consider.

Note: I often make typographical and factual errors. Do not use the above recipe. If this is important to you, go to the source.

 

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Back to the Bakken

Active rigs:

	8/23/2016	08/23/2015	08/23/2014	08/23/2013	08/23/2012
Active Rigs	32	76	192	182	190

RBN Energy: the economics of a crude oil pipeline.

Drones: Israelis are testing a 20-foot drone that can cover 40,000 acres in an hour and fly up to 17 hours before refueling. Byline for story: Hillsboro, ND, which is located 40 miles south of Grand Forks, ND, on I-29.

Pricing: well-timed OPEC meeting forces oil bears into record reversal.

OPEC is on course to agree to a production freeze because its biggest members are pumping flat-out, said Chakib Khelil, the group’s former president. Saudi Energy Minister  Khalid Al-Falih said that the talks may lead to action to stabilize the market.

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The Road To Minnesota

North Dakota, 1 - Minnesota, 0

This story goes back to April, 2011. The Minnesota state house and senate voted to allow electricity from North Dakota coal plants be sold in Minnesota, but the governor vetoes the bill. So, some five years later, the courts rule differently, and the Minnesota governor won't pursue. This truly sounds like something out of Charles Dickens' Bleak House. 

Minnesota calls it quits. Won't appeal this further. Agrees to take coal-generated electricity from North Dakota. 

Minnesota will not appeal a federal court ruling that called unconstitutional a law restricting importing electricity from coal-fired electric generating plants.

North Dakota filed the suit against the Minnesota Next Generation Energy Act and won in a federal district court. A federal appeals court panel in June agreed with the district court, leaving the U.S. Supreme Court the only opportunity for Minnesota to win.
But on Monday, the Minnesota Commerce Department and Public Utilities Commission announced the state will not appeal.

The decision means that Minnesota utilities may buy electricity produced in North Dakota plants, where they generate power with locally mined coal known as lignite.
Minnesota's law, designed to reduce carbon dioxide emissions, also bans new coal-fired power plants in the state. That part of the law remains on the books.

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The Market

Best Buy shares jump as online sales climb. Best Buy reported an unexpected increase in profit for 2Q16 as it benefited from a jump in online growth.

VW and suppliers settle their dispute after "marathon" talks.

Goldman Sachs trying to talk the price of oil down; says recovery in oil prices is "fragile." I think we all know that; we don't need GS to tell us the obvious. Unless GS has an agenda. LOL. The WSJ reports that hopes fade on oil agreement: there is already reports of disagreement among OPEC producers. That's fine. Apparently Saudi Arabia likes giving its oil away at $40/bbl. In the big scheme of things, it's better that the market manage this, and not have the price of oil affected by artificial agreements in the Mideast.

MRO shares "take a hit" as CFO resigns. Company says CFO stepped down for personal reasons. Two executives have now left MRO in recent days.

ObamaCare. BusinessInsider confirms -- or at least appears to confirm -- that "for the first time, a county in America has lost all of its ObamaCare insurers (previously posted): Pinal County, Arizona. 400,000 people. South and southeast of Phoenix, Scottsdale.

New home sales jump to highest level since 2007.

Bill Gates' net worth crosses the $90 billion threshold.

Late afternoon trading: up about 22 points; oil back up over $48; NYSE

• new highs: 219; CLR (a big whoop); Encana;
• new lows: 6

Opening: surges almost 100 points. XLNX hits $54.00.

• new highs: 180, Deere; Domino's Pizza;
• new lows: 4

Futures: Dow up 46; oil down a bit, around $47.