The Market, Energy, And Politcal Page, T+2 -- June 6, 2018

Updates

Later, 11:53 a.m. CDT: this remains an open-book test --

• TSLA: I've often said TSLA was a great trading stock; today TSLA is up $20
• VLO: with Venezuela unable to fulfill latest contract, I said Valero would be scrambling to buy oil at spot price; and, here we go, VLO is down significantly today

Disclaimer: this is not an investment site.

Original Post

Atmospheric CO2: it appears that after a hiatus of some sort, CO2.earth is now back to posting atmospheric CO2 on a monthly basis. I could be wrong; maybe there was not hiatus and I was just not able to find it. Whatever. During the hiatus (?) I was using Scripps. The May, 2018, data has been posted. Many, many reports that because of slightly increasing atmospheric CO2, the earth is getting much greener. 

Posted: weekly EIA petroleum report.

GDP Now: the June 6th estimate will be out today. The previous estimate -

Latest forecast: 4.8 percent — June 1, 2018: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.8 percent on June 1, up from 4.7 percent on May 31.

The nowcasts for second-quarter real consumer spending growth and second-quarter real private fixed investment growth increased from 3.4 percent and 4.6 percent, respectively, to 3.5 percent and 5.4 percent, respectively, after the employment report from the U.S. Bureau of Labor Statistics, the construction spending report from the U.S. Census Bureau, and the Manufacturing ISM Report On Business from the Institute for Supply Management were released this morning.

Finally, someone does the math:

That looks about right. A wiki source suggests a typical US 18-wheeler tanker holds 9,000 gallons or slightly more than 200 bbls.

Not idle chatter: the note above, about trucks, is not idle chatter. It might also apply to --

• the Permian for the next year or so
• Alberta if the Trans Mountain Pipeline Expansion project does not go through