Only three presidents have donated their presidential salary to charity: Herbert Hoover, JFK, and Donald Trump.
This is pretty funny: the "narrative" has changed. The anti-Trump folks, surprised by three consecutive days of all-time records on the stock market, have changed their narrative. These were the guys who said a Trump presidency would destroy the US and yet the market has set three all-time records over three consecutive days, and it looks like it will happen again today. Now the anti-Trump folks tell us that, "hey, maybe a Trump presidency will actually be good for the US in the short term, but in the long term a Trump presidency won't be good for the US." I saw the "new narrative" over at Bloomberg.com and it was also on MSNBC Morning Joe this morning. So that's the "new narrative." [Update, 9:27 a.m. Central Time -- Reuters is reporting that Dow hits a record high. This is now the fourth record high in as many days.]
Gasoline: even this surprised me. Gasoline at neighborhood service station was $1.74/gallon. And this is not the least expensive station in the area.
Oil: as OPEC continues to increase production, the price of oil continues to drop. Monday morning futures show oil dropping below $43, now about $42.87.
NDIC's monthly Director's Cut is scheduled to be released Wednesday, November 16, 2016.
Active rigs:
| 11/14/2016 | 11/14/2015 | 11/14/2014 | 11/14/2013 | 11/14/2012 | |
|---|---|---|---|---|---|
| Active Rigs | 38 | 64 | 186 | 185 | 189 |
RBN Energy: Enterprise's plan to help move gas to Texas export markets.
GE + BHI: From Emergent Group:
A combined GE+BHI brings technology and scale to rival Schumberger and Halliburton in North America and the global markets. Many analysts believe that the new GE+BHI puts the company in a position to lead the industry in several drilling, completion, and production market segments.
Although each of these segments varies across the conventional and unconventional markets, GE+BHI would immediately be positioned as a go-to company alongside Schlumberger, Halliburton, and Weatherford.The Permian land, looks a lot like the Bakken boom, as oil companies rush in to lock in leases.
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Right Out Of Hollywood
We've Seen This Movie Before
From Seattle Times:
HOLLYWOOD, Ala. (AP) — After spending more than 40 years and $5 billion on an unfinished nuclear power plant in northeastern Alabama, the nation’s largest federal utility is preparing to sell the property at a fraction of its cost.
Data points (some numbers rounded):
- Bellefonte Nuclear Plant; planned 1,200 MW facility
- to be sold by TVA
- work began back in the mid-70s; work halted in 1988; demand for electricity never materialized
- sale includes 1,600 surrounding acres of waterfront property on the Tennessee River
- two unfinished nuclear reactors; transmission lines; buildings galore; eight miles of road; a 1,000-space park lot and more
- minimum bid: $36 million
- has never been stocked with radioactive fuel; not one single watt of electricity generated
I see a mall and museum coming, along with a 1,600-acre solar farm. Or sugar beets.
Now today, from CNBC:
The nation's largest federal utility is selling an unfinished nuclear power plant in northeast Alabama.
The Tennessee Valley Authority utility says it will hold an auction Monday for the Bellefonte Nuclear Plant. Minimum bids are set at $36.4 million, and one company has already said it's offering more than that.
****************************************The utility says it wants the property used in a way that will benefit the surrounding economy of the Tennessee Valley.
The Political Page
This tells me that things are not as bad in the United States or California as the pundits or mainstream media would lead us to believe. From The Wall Street Journal: California, as Clinton Territory, Finds Itself a Political Outlier. Many residents feeling detached from nation; even rock-solid-red Orange County went blue.
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