The Market And Energy Page, T+54 -- March 15, 2017

Mid-Day Trading

Later, 1:39 p.m. Central Time: Yellen/Fed chairwoman -- television crawler -- inflation driven by energy prices -- who's kidding whom: natural gas dirt cheap and crude oil below $50; the only expensive energy out there is wind and solar and it makes up a trivial amount of total energy used; inflation is currently not an issue; the issue is jobs. The Fed has a dual mandate: inflation and jobs. 

Later, 1:22 p.m. Central Time: the Fed raises rates and the market soars, up 90 points. What gives? The Fed raised rates in line, 25 basis points. Could have raised rated 50 basis points.

CLR's Burr Federal wells being drilled. Graphic update here.

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Opening

Crude oil numbers: another huge analyst-miss. Forecast for a build of 3.5 million bbls. The actual number: down about 300,000 bbls.  WTI remains unchanged, $48 and change.

Iso Express: about $75/MWH at the moment (11:07 a.m. Central Time).

The day the Fed begins raising. Later: Feds raise rates 25 basis points. Poll-takers got it right:

• 74% said the Fed would raise rates 25 basis points
• 16% said the Fed would raise rates 50 basis points
• 9% said the Fed would not raise rates

American Pie, Don McLean