Updates
June 26, 2022: an update:
You heard it here first: connecting the dots. EV manufacturers looking for partnerships. We know all about Amazon, Ford, Rivian, others. Apple was talking about a partnership last year. Was it Kia? I forget. But you heard it hear first, today: connecting the dots -- the time line of announcements suggest a Ford - Apple tie-up is very, very possible. Stay tuned. One inconvenient data point: think South Korea and Bobcat. I talked about this one years ago. Cryptic? Yes. On purpose? Yes. I don't need the pushback and have no intention of starting a discussion. But the writing is on the wall. Although it may simply be nonsensical graffiti. If I'm right on this, Katy, bar the doors. Speaking of which, time to watch TCM.
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.
Reminder: third day those "extra" Covid-19 unemployment benefits are not being mailed to those not interested in working.
Market: FOMO. Link here.
Top energy story: again, the high prices in Europe and the UK. This is the "Texas freeze" write large:
- day ahead UK electricity prices surge; more than $300 per MWH; very little wind;
- in context: the average 2020 - 2021 day-ahead UK electricity price was $50/MWh. tomorrow, the UK will see a wholesale electricity price that's 500% -- 500% -- higher than the average; winter heating season has not yet started;
- two small energy suppliers in the UK collapsed yesterday; a lot more are likely to go bust; facing exactly the same problem caused by the "Texas freeze (2021)";
Covid-19: in-school-testing. On CNBC this a.m., Dr Gottlieb singled out North Dakota and Massachusetts as setting the national example of testing in school.
Our local school here in north Texas is doing the same thing. So far, it seems to be working. Cost: tests bought in bulk cost $5/test, and US government provides "unlimited" funds for in-school-testing. Money is not the issue for in-school testing.
Covid-19, it's over: Denmark to join Sweden in lifting all remaining restrictions; link here.
Paris: Covid-19? What Covid-19? Monday morning traffic in Paris was the busiest all year.
Moving? United Van Lines 2020 national movers study. North Dakota in top ten for states where folks are moving out. Link here.
Most irrelevant story yesterday: why El Salvador said "yes" to Bitcoin.
- Bitcoin drops below $43,000 after Bitcoin went "live" in El Salvador; it had been as high as $50,000 earlier in the day;
- El Salvador plans to use geothermal heat to mine Bitcoin -- NPR;
- El Salvador: Bitcoin ATM machines -- essentially non-existent; and, here; and, here; and, here;
Graphic of the day: gun rights watch. Link here.
WTI: price action suggesting it's finally starting to sink in -- oil losses from Hurricane Ida rank among worst in sixteen years.
Keystone XL: "miss me yet?" EPA issued an emergency waiver of the ultra-low sulfur diesel fuel requirements at Port Fourchon, Louisiana, to help improve supply constraints caused by Hurricane Ida. No storm has hit US energy like Hurricane Ida has. Link here.
EVs: yes, they get hacked. Link to Irina Slav.
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.
Chips: PC shipments will be delayed by months maybe years. Link to The WSJ.
Venezuela: selling gold to stay afloat.
For investors only:
- GDP Now: latest estimate -- 3.7% -- September 2, 2021
- DXY: 92.649, up 0.125 -- right in the sweet spot;
- WTI: trending toward $70; breaks through $69 overnight; up 1.51%; up $1.30;
- TYT: 1.353%, down 0.018
- NASDAQ: yesterday, registers record closing high for fourth consecutive session;
- AAPL: surges on iPhone on announcement of iPhone 13 launch event date.
- ENB: more on the announced acquisition;
Fitzsimmons: SCHB is a good choice for diversification.
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.
Streaming: most interesting free streaming television -- Pluto TV.
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Back to the Bakken
Active rigs*: daily count updated at COB --
| $69.27↑ | 9/8/2021 | 09/08/2020 | 09/08/2019 | 09/08/2018 | 09/08/2017 |
|---|---|---|---|---|---|
| Active Rigs | 26* | 11 | 61 | 66 | 55 |
No wells coming off confidential list according to NDIC website.
RBN Energy: Moda Ingleside deal propels Enbridge to leading role in crude exports. Article archived.
In the three years since Moda Midstream acquired Occidental Petroleum’s marine terminal in Ingleside, TX, the company has developed millions of barrels of additional storage capacity, connected the facility to a slew of Permian-to-Corpus Christi pipelines, and increased the terminal’s ability to quickly and efficiently load crude onto the super-size Suezmaxes and VLCCs that many international shippers favor.
Moda’s fast-paced efforts have paid off big-time, first by making its Ingleside facility by far the #1 exporter of U.S. crude oil and now with a $3 billion agreement to sell the terminal and related pipeline and storage assets to Enbridge.
The transaction, which is scheduled to close by the end of this year, will make Enbridge — already the co-owner of the Seaway Freeport and Seaway Texas City terminals up the coast — the top dog in Gulf Coast crude exports. Today, we discuss the Moda agreement and how it advances Enbridge’s broader Gulf Coast export strategy.
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