Wednesday, July 31, 2019

Notes From All Over, Part 3 -- July 31, 2019

Updates

Later, 2:24 p.m. CT: this is pretty funny. After several posts about the grids in the northeast (ISO-NY and ISO-NE), zerohedge now takes the baton. See zerohedge at this link; a reader sent met he link; saw the headline; did not read the story.

Original Post

ISO NE, take a look at this and see if you can see what catches my attention today? Link here:



Time to run through twitter:
  • First Squawk: OPEC July oil output falls to lowest level since June, 2011 -- that would be almost ten years ago; wow [memo to First Squawk: need to quit with the ALL CAPS ALREADY]
  • OOTT: "almost no growth in US crude oil production since December, 2018"
  • OOTT: data for crude oil production in five plays including Colorado, and fails to mention the Bakken
  • OOTT: US oil product exports up 1.125 million b/d; compare with 5.827 million b/d last week;
  • OOTT: US crude inventories have declined by nearly 49 million bbls in the last seven weeks; doesn't mention when/whether EIA changed its method of calculating inventories
  • Williston Herald: after delays, construction begins again on Williston's new Pizza Hut; it's been a year since ground was broken; apparently now near completion;
  • Tom Steyer: still advertising; I didn't see his name on the list of those debating on stage; talk about tilting at windmills -- wants Nancy Pelosi to cancel Congressional 6-week summer break; yeah, like that will happen
US crude oil inventories? Let's fact-check:
Week 29
June 12, 2019
2.2
485.5
Week 30
June 19, 2019
-3.1
482.4
Week 31
June 26, 2019
-12.8
469.6
Week 32
July 3, 2019
-1.1
468.5
Week 33
July 10, 2019
-9.5
459.0
Week 34
July 17, 2019
-3.1
455.9
Week 35
July 24, 2019
-10.8
445.1
Week 36
July 31, 2019
-8.5
436.5







49.0

Nearly? I get 49.0 million bbls exactly.

Calendar, another non-sequitur. Impeachment is still on the table, but ...
  • six week Congressional recess
  • Democrat base mixed
  • autumn session: budget
  • Christmas / year-end holidays / recess
  • spring: smack dab in the middle of the US presidential campaign
  • interest wanes
  • Pelosi knows that if the US House moves to impeachment, nothing else gets done
  • was it mentioned in the debates last night
  • haven't heard anything from the junior senator from Utah in, like, months (I almost said, "years")
The ISO-NE graphic above:
  • throw out nuclear -- barely changes from day-to-day, and natural gas makes up about 99% of fuel; it's the marginal fuel, regardless; wind/solar non-dispatchable
  • coal, almost nonexistent, is still on the graph
  • but look at this: so is heating oil, still on the graph and heating oil is at 3%; renewables at 5%
  • natural gas can't keep up with demand
  • after decades of grants, tax breaks, government mandates, Tom Steyer ads, faux environmental protests, etc, etc., renewables account for 5% -- which equals oil & hydro combined
Okay, this page is done. Stick a fork in it.

2 comments:

  1. Last nites debate, by the numbers, didn't even out draw Fox and MSNBC regular program schedule. Did not watch it, went fishing instead.

    ReplyDelete
    Replies
    1. Good choice. I was barbecuing for Sophia and swimming.

      Delete

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