Friday, October 4, 2019

Notes From All Over, Part 2 -- October 4, 2019

AMLO cleans house: from Bloomberg -- that's about all you have to know -- "Aim-Low" replaced ten executives at the Pemex division that sets and monitors prices.

Oklahoma pipeline: another JV in the oil sector--
  • Holly Energy Partners LP
  • Plains All American Pipeline 
  • 50/50
  • 160,000 bopd, crude oil
  • Cushing crude oil hub to the Tulsa refining complex (HollyFrontier Corp)
  • about 60 miles?
  • $130 million; includes the existing JV Terminal contributed by Plains (valued at $40 million)
The next grand minimum: will the Thames freeze again? The reason I'm posting this -- it does a nice job of reminding us of the various solar cycles, the chronology, brief history. Link here.
  • Dalton Minimum (1790 - 1830) -- solar cycles 5 and 6
  • coincided with the Little Ice Age that disrupted the entire northern hemisphere
  • it was during this time that the Thames froze and agriculture in Britain and elsewhere came to a standstill
  • Cycles 25 and 26 will display much lower solar activity than the solar cycles of the Little Ice Age
  • NASA suggests: expect a potential period of cooling
  • solar cycle 25: 
  • will start in the year 2021 (January)
  • will last until 2031 (February)
  • solar cycle 26:
  • March, 2031, to February, 2041 
  • I was never taught "solar cycles" in school. I wonder if they teach it in Sweden? If so, Greta must have missed that day.
Nobel Peace Prize: speaking of Greta -- 100% sure she gets the Nobel Peace Prize. Well-played. Will be beatified by the Pope in 2119.
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4 comments:

  1. AnonymousOctober 4, 2019 at 8:51 AM

    I haven't been able to get the story on that pipe. Not the JV, but the pipe. How was refinery getting crude before and why does new pipe create value?

    ReplyDelete
    Replies
    1. Bruce OksolOctober 4, 2019 at 9:11 AM

      1. HollyFrontier webpage says the refinery can process 125,000 bopd.
      2. The HollyFrontier Corp Form 10-K for fiscal year ended December 31, 2018, says the Tulsa Refineries are supplied mostly by pipelines owned by Magellan.

      3. From there, one can start to conjecture.

      Delete
  2. AnonymousOctober 4, 2019 at 10:34 PM

    "Happiness is two pipelines." I guess that's interesting if it is just being done because of getting gouged.

    I was wondering if there was some tie in with some general "replumbing" story like with that Memphis refinery, like with the Capstone reversal, etc.

    ReplyDelete
    Replies
    1. Bruce OksolOctober 5, 2019 at 11:51 AM

      I really don't know. I would be watching to see if additional storage tanks are going to be placed near the refinery complex. There's a lot of money to be made "trading" oil. I wouldn't be a bit surprised if some of these guys that actually work with oil get a bit upset with Wall Street traders making money on trades. The guys out in Oklahoma/Texas may want part of that. I don't know; just thinking out loud.

      Delete

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