Hot Spots -- Literally -- In The Williston Basin -- January 9, 2019

The link was sent to me by Don.

From Geo News, this will probably load as a PDF on your desk top.

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Posting and Pending

EIA's weekly petroleum report. Link here. Will the EIA confirm API's report of a huge weekly draw?

• US crude oil weekly inventories: decreased by 1.7 million bbls
• US crude oil weekly inventories: 439.7 million bbls; now 8% (last week 7%) above the five-year average (and note: the five year average has been increasing over the past couple of years)
• gasoline inventories increased by 8 million bbls and are about 5% above the 5-year average
• refiners operating at 96.1% capacity, down slightly
• look how much jet fuel supplied has dropped: down 10% compared with same four-week period last year; it had been higher compared to last year for much of the past year, if I recall correctly
• how did WTI respond after the report? WTI traded above $51. Trading at $51.11 now.

Gasoline demand, link here:

Apple slashes iPhone production for second time in two months; demand woes worse than anticipated. Production to be slashed 10% over next three months. Over at ZeroHedge.

France to ban all protests; will stop "yellow vest" movement. Over at ZeroHedge.

Wow! S&P downgrades PG&E to junk, launching countdown to $800 million collateral call. Over at ZeroHedge.

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Global Warming Around The World

From iceagenow:

• Moscow: -15F
• Hokkaido, Japan: heavy snow strands 2,000 at airport
• Alps: massive snowfall kills severn
• central Europe: heavy snow traps hundreds
• Iran: heavy snowfall strands 4,100
• Kashmir: heavy snowfall blankets the region
• Turkey: reports heavy snowfall
• Mexico: thousands of crops damaged by snow in Sonora; experiences fifth and six winter storms of the season
• Iceagenoe also reports that both the Arctic and the Antarctic sea ice now at historic high levels

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For The Record

Arctic and Antarctic sea ice now at historic high levels, but for Algore and his singeries, facts don't matter. Link here. In addition, in the Southern Ocean surrounding Antarctica, the sea surface temperatures have been cooling since 1979. But again, facts don't matter.