Thursday, February 25, 2021

No Wells Coming Off Confidential List; WTI Continues To Move Up; Update On SD AG -- February 25, 2021

See PLUG below. Most important financial news story all day?

Williston, ND: Northeast Truck Reliever Route update; hearings set;

  • route; from 1804 east of Williston, north and then west to US 2 &85 (nine-mile corner, I believe);
  • where it meets up with the Northwest Truck Reliever Route

South Dakota AG, hit deer/man -- victim's eyeglasses found in AG's car;

Tiger Woods: doesn't remember the crash.

SRE earnings: mixed. We'll have to see what investors think, later today.

Tesla:

Gasoline demand:

Texas Freeze:

  • previously posted two weeks this would be forgotten; two months back to normal (not to be taken out of context):
  • Deep Freeze: February 15, 2021 - December 18, 2021
    • "next week": March 1, 2021

Global warming panic? Not so much.


BP: already starting to walk it back; maybe renewables not so hot;

EVs: I think we're going to see the same thing;

  • Legacy companies that are pivoting to all-EVs by 2035 (or sooner) will re-think this strategy;

Robots: now picking fruit;

The market:

First group:

  • 10-Year Treasury: link here. Six more basis points; now at 1.451%.
  • DXY: link here. Down. $89.74.
  • Silver: link  here. Surging. Trading at $28.095.
  • CBOE volatility index: link here. Up strong. Up 7.12%. Now at 22.86.

Second group:

  • 30-Year Treasury: link here. Up 6 basis points; now at 2.306%.

Major indices:

  • Dow down slightly after hitting new highs yesterday
  • NASDAQ still falling

Jobs forecast:

  • 825,000 new claims

Apple: iPhone 13 lineup expected to use Qualcomm's Snapdragon X60 modem with several 5G improvements. Link here.  Apple's announced move from Qualcomm will take a year or so.

Plug Power:

  • stock falls
  • much wider than expected loss
  • surprise negative revenue
  • oh-oh
  • link here;

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Back to the Bakken

Active rigs:

$63.54
2/25/202102/25/202002/25/201902/25/201802/25/2017
Active Rigs1549665740

No wells coming off confidential list. No new wells being reported until Sunday. Then we will see seven.

RBN Energy: natural gas price spike curtails ammonia plants, linking hydrogen and gas markets.

In many ways, the natural gas shortages and price spikes that came with last week’s Deep Freeze had nothing at all to do with hydrogen. There were no “green” hydrogen plants that froze up in the cold, no withdrawals of stored hydrogen into distributed local fuel cells backing the power grid, no shortages of fuel for hydrogen vehicles. 
None of that occurred because hardly any of that infrastructure exists just yet. But that doesn’t mean there was no link between last week’s natural gas market and existing forms of hydrogen production, namely “gray” hydrogen used to produce ammonia, most of which is used in the manufacture of fertilizers, and which makes up about a quarter of the hydrogen market. In fact, there was a strong connection, one that highlights the flexibility of industrial natural gas use during price spikes and possibly exposes a vulnerability in gray hydrogen production. Today, we continue our series on hydrogen with a look at how the ammonia industry responded to the recent spike in natural gas prices.
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The Market


In my in-box this morning from Yahoo!Finance: VIX -- bullish! Much more upside going forward.

Unfortunately I don't have a link and due to copyright, I can't post it. 

Archived here.

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