The Market And Energy Page, T+75 -- April 6, 2017

Yahoo!Finance banner: 7-Eleven buys Sunoco stores; Costco sales jump. 

WTI: solidly above $51, again.

Staggering: I've always liked this graph; I've seen it before but have never posted it. Via twitter:

Chevron pivots to Permian. Mega-project era fades -- Reuters. Data points:

• Chevron is "hitting the accelerator on developing the company's vast Permian Basin holdings
• plans to make the Permian one of Chevron's biggest ventures
• some of the best things in Chevron's portfolio: shale -- the CEO
• their Permian has been owned a long time; free of royalties to landowners
• owning this land outright gives Chevron a cost advantage over rival Permian producers
• within the next decade, plans to grow the Permian eightfold to more than 700,000 bopd
• by the end of 2018, will add 9 more rigs to the already 11 rigs it has in the Permian 
• total recoverable reserves: more than 9 billion bbls; almost all of it owned outright by the company
• market value estimated to be $43 billion (CEO's estimate): makes it more valuable than other Texas producers
• Chevron does not hedge oil production
• will boost spending in the Permian by 67% to $2.5 billion
• no concern about peak oil demand for at least the next 20 years -- CEO