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Saturday, April 7, 2018

Making America Great Again -- Saudi Aramco Looking At Chemical Plant Addition At Port Arthur -- April 7, 2018

From Reuters:
  • a multi-billion dollar plan
  • subsidiary Motiva Enterprises LLC
  • parties involved: 
    • Honeywell - an aromatics unit; would convert benzene and paraxylene into feedstocks for chemicals and plastics; would produce 2 million tons of feedstock
    • Technip FMC - to produce polymers from ethane; would produce 2 million tons of ethylene from ethane, then used for plastics
  • benzene, paraxylene: byproducts of gasoline production
Related news at this link.

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SolarCity: An Albatross
The albatross:
  • Tesla owns SolarCity
  • the $2 billion purchase came with almost $3 billion in debt
  • "huge chunk" of interest coming due soon
    • [again, typical article: "huge chunk" not defined; and date coming due was not provided] 
  • Tesla doesn't guarantee repayment; SolarCity does (this is called non-recourse debt for Tesla)
  • but, the SolarCity debt affects Tesla's overall credit rating and impacts borrowing costs
  • Tesla has $10 billion of total debt outstanding; $3 billion is non-recourse, mostly Solar City debt
  • without SolarCity, Tesla's borrowing ratings might be closer to 5.9% (single B rating)
  • with SolarCity rating, a B- rating/Caa1 rating, closer to 7.2%
  • story at Fortune through YahooFinance
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EIA: US Crude Oil Production Grew By 5% Last Year
That Wasn't Supposed To Happen -- Hubbert


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How To Load A Bobcat On To A Dump Truck

For newbies: the Bobcat is a North Dakota product, and still manufactured in North Dakota.

VID-20140903-WA0002

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