DAPL Builder Apologizes To Court -- Will Complete Sooner Than Expected -- The Market And Energy Page, T+35 -- February 24, 2016

Dickinson Press link:

Even as the $3.8 billion pipeline from North Dakota's Bakken oil fields to Illinois nears completion, the pipeline's future is in question in federal court. The tribes' attorney, Jan Hasselman, said he was surprised by the early oil-flow date, since the company told the court its best-case scenario was further out, into May.

My hunch: once complete -- in about ten days -- the court will shut it down. Things are simply moving too fast. The court needs more time to research the argument that the Native Americans control all waterways in North America.

At Reuters: Energy Transfer says DAPL 99% complete. But, as noted, the future is in the hands of a judge. And when this all started, we thought Iowa was going to be the challenge.

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Saudi Arabia's $2 Trillion Aramco Vision In Doubt

 From Bloomberg:

Saudi Arabia has said oil giant Saudi Aramco is worth more than $2 trillion, enough to consume Apple twice, and still have room for Google parent Alphabet Inc. The kingdom may have to settle for less. A lot less.

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Peak Oil? What Peak Oil?

From Rigzone: future giant discoveries could be lurking offshore South Africa.

• Outeniqua Basin
• previous finds: up to 314 million recoverable boe 

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Market

The close! Wow, 11 points up at the close. I am amazed. The eleventh consecutive record-setting day. 

Closing: this is going to be so close! Nine minutes before closing down only 3 points. 

Opening / Early Afternoon: the Dow was down about 50 - 60 points all morning. President Trump spoke at CPAC; didn't affect the market. Yesterday was the 10th consecutive day of record-setting Dow. I believe the record in modern history is 13 consecutive days of closing in the green.