For me, the most important post of the past week may have been this one.
Internationally, Saudi cash reserves continue to dwindle. For the archives: despite OPEC / non-OPEC cuts (wink, wink) US crude oil inventories unexpectedly increase.
Nationally, this was the most important story -- at least for American drivers: the average nationwide gasoline price is now at the lowest for this point of the year since 2005. For a nation of non-EV drivers, I just can't imagine a more incredible turnaround -- since 2005. That was before Barack Obama was President Obama. Wow.
The most interesting story in the Bakken might have been posted today. Kraken Operating reported three incredible DUCs -- leases/permits the company bought from CLR, and I think these are better wells than what CLR was getting. This is a good area in the Bakken but not seen as one of the best areas and yet the IPs were incredible.
XTO reports an incredible well after being shut in for a few months
Random update of an MRO re-frack
Huge jump in production after neighboring well fracked
Five high-intensity fracks announced over weekend
Ten new permits; sixteen permits renewed; twenty-one wells approved for "tight hole" status
North Dakota oil industry shows signs of a rebound
Williston's new airport keeps moving along
But whatever lies behind the dividend at the pump, drivers are happy to have it."Whatever lies behind" low prices? Wow. Shallow reporting at the NY Times.
And we can't forget Jimmy Carter, who was ready to mandate mandatory gasoline rationing. This is simply pathetic: