IEA: net zero, no new oil exploration. Links everywhere. No time to expand due to family commitments today. Maybe later. Most of us "blew off" that story. Now that I've had 24 hours to think about it, see what others have said, this will turn out to have a more interesting backstory than most realize. Memo to self: the global response to Covid-19 provided a great teaching opportunity.
Asia: dismisses the IEA report cited above.
Got corn? Link here.
- US corn export shipments up 45% on week;
- outstanding sales 62% above previous year; 53% above 5-year average;
- total commitments jump 73% on year, 46% above 5-year average;
- main destinations: China, Mexico, Japan, Colombia, and Israel
Jobless, weekly report, link here:
- initial claims: 444,000; better than the 452,000 Dow Jones estimate;
- delta, estimate vs actual: 8,000 (1.8% miss); hardly noteworthy:
- continuing claims rose by 111,000 to 3.75 million (that number runs a week behind)
- I doubt this had any impact on the market.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.
Hurricane season: begins in eleven days a reader tells me. I did not fact check. With another full year of the oceans getting ever warmer, this, again, should be the worst year on record for hurricanes. Later: right on cue -- link here.
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Back to the Bakken
Active rigs:
| $62.89 | 5/20/2021 | 05/20/2020 | 05/20/2019 | 05/20/2018 | 05/20/2017 |
|---|---|---|---|---|---|
| Active Rigs | 19 | 14 | 66 | 61 | 51 |
One well coming off the confidential list -- Thursday, May 20, 2021:
- 36125, drl/NC, Slawson, Stallion 3-1-12H, Big Bend, no production data; the Slawson Stallion / Zephyr wells are tracked here; that site needs to be updated;
RBN Energy: hydrogen markets looking for regulatory attention.
When it comes to hydrogen regulation, there are two buckets. The first includes safety and environmental regulations related to building and operating facilities that produce, transport, store, and consume hydrogen. There’s not much mystery here, just a multitude of rules from various organizations in place to cover the physical side of the hydrogen industry. That said, as hydrogen use is expected to grow over time, this bucket of regulation is likely to expand and maybe morph. The second bucket includes rules that are designed to provide market structure and incentives for hydrogen. This bucket is mostly empty, though, and for hydrogen markets to succeed, it will need to be filled up. Put another way, hydrogen needs rules and incentives that make it clear the powers-that-be want hydrogen to be around and thriving. In today’s blog, we look at existing hydrogen regulations and highlights the gas’s need for further regulatory incentives and clarity.
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