Afternoon Headlines -- T+20; BP Says Global Energy Consumption Set New Records In 2017 -- June 20, 2018

I don't know about you, the reader, but I think it's incredible. News is coming fast and furious. I'm concentrated on the Bakken specifically and the oil and gas sector in general, but enjoy following current events in any field. And in any field, news is coming fast and furious.

First, I hear that President Trump has signed a executive order to prevent parental felons from being separated from their children. Yes, that's a bit of hyperbole. First time you cross the US border illegally, it's a misdemeanor; second time, it's a felony. I'm not sure what the executive order actually says -- ABC will tell us later -- but Trump does not want illegal immigrant families separated. Good for him. One thing about Trump: he doesn't draw a lot of red lines in the California sand, and he doesn't take a long time to make a decision.

Second, I hear the US-led Foreign Legion has assassinated the Chief of Oil Smuggling for Isis.

Third, I saw a crawler on the web that suggested the NASDAQ hit an all-time high. I haven't looked; I haven't confirmed. I'm staying away from business news until the silliness ends. I am continuing to invest in the market. I log on to my on-line broker, avoid looking at anything else, and simply place my order. Seems to work fine.

Fourth, and this would be huge except it's a headline over at oilprice.com which immediately suggests caution.

The headline: global energy consumption soars to new heights. The link: oh, it's the 2018 BP statistical review of world energy. New metrics (13, 12 and 11):

First, the report shows that the world achieved a new oil production record of 92.6 million barrels per day (BPD), which is the 8th straight year global oil production has increased. The United States was the world’s top oil producer in 2017, exceeding 13 million BPD* for the first time ever. Saudi Arabia was second at 12.0 million BPD, while Russia came in at 11.3 million BPD.

And this is why caution is needed. See that little asterisk? This is what the asterisk links:

*Note that BP’s definition of “oil” includes natural gas liquids (NGLs), which have surged in the U.S. along with natural gas production. This is the primary reason BP’s oil production number is higher than numbers reported by the Energy Information Administration.

So, maybe the metrics haven't changed all that much. If not, then still 10, 10, 10.

And for what it's worth (not much, in my mind):

The growth of renewables wasn’t enough to prevent a new record for total fossil fuel consumption. Consequently, carbon dioxide emissions rose in 2017. Global carbon dioxide emissions rose 1.6% to a new record of 33.4 billion metric tons.

Carbon dioxide emissions actually declined by 0.5% in the U.S. as more coal-fired power was phased out, but strong growth was registered in the Asia Pacific region, Europe and in Africa. Of the 18 Asia Pacific countries reported, only Japan showed a decline in carbon dioxide emissions.

Isn't it the Asia Pacific countries that are most affected by rising seas?
 
Fifth, I almost forgot. With regard to the NASDAQ hitting an all-time high, apparently Netflix also soared to a new all-time high. Netflix, the next big thing.

Sixth, as long as I'm at it, Caterpillar, last week, announced it would increase its quarterly dividend from 78 cents to 86 cents. And wow, so did FedEx, from 65 cents to 98 cents.