The Energy And Market Page, T+122 -- May 22, 2017

US gasoline demand: I've written about this many, many times, but unable to explain it -- falling US gasoline demand despite a great economy. Now, in Barron's, May 22, 2017, page M1: is Amazon behind the recent drop in miles driven by Americans? US miles driven averaged 1.5% growth in the three months ended February, down from almost 3% in 2016. If consumers shop more on-line, there's less need to drive to the store or mall. I find that a stretch, but I have to admit that on Sunday, yesterday, the US Postal Service delivered two products to my door, each of which would have normally necessitated trips to opposite sites of town. Barron's may be on to something.

Saudi Arabia: Without question, the top energy and market story over the weekend had to do with all the deals being announced in/with Saudi Arabia as a result of President Trump's visit there.

Norway: reports production decline, Norwegian Continental Shelf, month-over month (April vs March).

BRK: Barron's has a great article on Warren Buffett / Berkshire Hathaway in the May 22, 2017, issue. This is what caught my eye (business, 2016 net billion revenue, 2016 net income, % of latter):

• Berkshire Hathaway Energy: $17.9  --  $2.3 -- 12.85%
• BNSF: $19.8 -- $3.6 -- 18.18%
• Geico: $25.5 -- 0.5 -- 1.96%
• Manufacturing, service, and retailing: $120.1 -- 5.6 -- 4.66%

Many, many story lines, I assume.

Highs: new 52-week highs -- BAX, XLNX.

Cash flow. My understanding is that once Tesla begins ramping up automobile production, it will take much more money to ramp up than what it has taken to get to where they are today. Here's someone's synopsis of Tesla's cash flow over the past three years:

It's not just the numbers, or perhaps even the SIZE of the numbers, but look at the trend on the net income line vs revenue.