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Thursday, November 7, 2019

Notes From All Over, Part 1 -- November 7, 2019

Wow, wow, wow -- Saudi Aramco delays payment on Sabic deal by four years ....  huge story ... buried, but a huge story ... Bloomberg --- November 4, 2019 ... 
Saudi Aramco will delay fully paying for the acquisition of a 70 percent stake in petrochemicals company Sabic by four years until September 2025 under terms of a new deal agreed on last month.
Aramco will also only pay the kingdom’s sovereign wealth fund about a third of the $69.1 billion price tag in cash, down from half previously, the oil firm said in its intention-to-float announcement
Disclaimer: this is not an investment site.  Do not make any investment, financial, job, travel, career, or relationship decisions based on what you read here or think you may have read here.

From twitter:
  • high-sulphur marine fuel prices are falling in Rotterdam, IMO 2020
  • Russia to "hold out" on IMO 2020 on its "inland waterways"
  • Brazil and Chinese state-owned firms only ones bidding on Brazil's off-shore oil in latest round
  • Iran nuclear crisis escalating; Americans seem unmoved; same old, same old
  • China said to be studying lifting the curb on US poultry imports
  • one hour ago: China says US agrees to phased tariff rollback if deal reached
  • US-led naval forces formally begin operations to protect Mideast sea lanes
Futures:
  • all major indices up significantly; all -- maybe not the NASDAQ -- would open at new highs (?)
  • Dow: up about 135 points 
  • NASDAQ: up about 40 points
  • S&P 500: up about 10 points
Startling:
  • Bill Gates says if it comes down to Trump vs Pocahontas, he will vote pragmatically
Pocahontas:
may have had her "Beto O"Rourke" moment when she said, "Hell, yes, we'll take your private health insurance."

Cleaning out the in-box:
  • shale wells are on the edge of profitability at current prices, November 10, 2019, WorldOil
    • new term for me: half-cycle drilling costs; we'll come back to this later
    • the historical floor price for U.S. oil of $45, which in the past has been based on so-called half-cycle drilling costs, is likely to rise to $50 as investors use different metrics
  • US productivity plunges for the first time since 2015 as labor costs surge -- zerohedge -- November 6, 2019 -- consider the source when reading the headline and then check out the graphic at the link
  • global warming: several blasts of Arctic air will bring early winter to northeast -- zerohedge-- November 6, 2019 -- remember, the 2019 - 2020 Farmers' Almanac said it would be a milder winter -- at least the one I read, but I think you can find anything you want when it comes to weather predictions in the Almanac
  • global warming: cold October (and now November) in perspective -- The Next Grand Minimum -- November 3, 2019
  • global warming -- Bjorn Lomborg -- Paris climate promises will reduce temperatures by just 0.05°C in 2100 -- November, 2015, peer-reviewd paper
  • US holiday to soar -- UPS -- forecasts "peak day" to be 26% higher than 2018 -- recession? what recession? -- Benzinga via Yahoo!Finance -- November 5, 2019
  • Texas scores again: national clothing retailer Ross Dress for Less will build massive distribution facility outside of Houston, TX; bizjournals -- November 6, 2019; the Ross facility will be nearly twice the size of the Amazon Fulfillment Center that opened in 2018 in the same area as the new proposed Ross facility
Holidays: I don't know if others have noticed, but here in the southwest, folks are switching out Halloween decorations for Christmas. Thanksgiving will be a speed bump on the way to holiday spending.
  • next big thing: year 'round holiday lights; computer-LED color changes based on the season
  • we have a huge McMansion in our area that has bright blue-yellow lights on almost year 'round
  • from my perspective three variations in holiday lights
    • green and red (and or multi-colored across the entire spectrum)
    • green and white
    • blue and yellow

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