Tuesday, September 14, 2021

Apple Presentation Today -- Tuesday, Septermber 14, 2021

European energy story: unrestrained. And winter is yet to come. Groningen is closing. Russia unlikely to meet German demand. Where does the UK get its natural gas? At the link:

I don't want to alarm anyone, but European gas prices are up this morning >7% to a new all-time high, bringing their increase since August 1, 2021, to about 60%. The rally does not show any sign of slowing. Gas inventories are seasonally very, very low. And winter is coming.

Apple, Inc.: presentation today.

Covid-19: vaccinations for the record, have trended down for the past three weeks; the goal post cross-bar is one million vaccinations on average per day. Did the mandate set back the vaccine rollout? Average:

  • Monday, September 13, 2021, average number of immunizations given over past seven days: 772,190
  • Biden announces vaccine mandate
  • Monday, September 6, 2021, average number of immunizations given over previous seven days: 838,498
  • Monday, August 30, 2021, average number of immunizations given over previous seven days: 898,446

Stadiums as super-spreader events:

  • the last pre-season NFL football game was two weeks ago or so, and two weeks being the usual period of quarantine, I have not read one story yet of any evidence of those filled stadiums as being super-spreader events.
    • the opener: September 9, 2021, last Thursday, Dallas traveled to Tampa, FL, where the stadium was jam-packed;
  • meanwhile, the college football stadiums have been jam-packed for the past two weekends; still no stories of "super-spreader events" and, except for one non-story, an outlier, there have been no reports of colleges going into mass lock down
    • if I recall correctly, the outlier was a small private college in Connecticut, but I could be wrong;
  • remember, the original fifteen-day lock down was to flatten the curve and allow the healthcare sector to get prepared;
  • it appears, cynical me, the colleges and professional sports have decided that the health care sector has had a year to prepare; it's their (hospitals) problem, not colleges or professional sport;
  • cynical me; trolling; ignore, rinse, repeat;
  • the best news: I haven't seen Fauci on any of the networks I watch; in fact, I haven't even seen Dr Gottlieb. 

Market spikes:

  • CPI comes in lower than anticipated
  • excluding food and energy, CPI up only 0.1%
  • used car prices actually dropped
  • it will be interesting to see if Jim Cramer changes his narrative based on these new numbers;

The numbers:

  • CPI: released today; up 0.3% vs expectations of 0.4% (and whisper numbers probably much worse
  • in response, market futures spiked
  • DXY: 92.46, down slightly;
  • WTI: $71.00, up 0.78%;
  • natural gas, Henry Hub: $5.341; up 2.10%;
  • TYT: 1.341%; up slightly;
  • Market, futures
  • Dow: up 120 points
  • S&P 500: up 15 points
  • NASDAQ: up 59 points

ARKK, Cathie Wood: had interesting comments on CPI the day before these numbers came out; she's not worried. Reminder: jobs commentary, September 8, 2021. I could be wrong, the job shortages seem to be in industries where it's almost least important, as a macro-economic issue. The lead story on joblessness today was the shortage of school bus drivers. Okay. Self-driving, autonomous buses would take care of that problem. LOL. Parents would act as chaperones/monitors if they want their child to ride the bus.

Back to the Bakken

Active rigs*: update every afternoon, COB, non-holiday weekdays -- 

Active Rigs25*12646555

No wells coming off confidential list according to NDIC.

RBN Energy: the gathering pipes that will supply the Coastal GasLink pipeline.

It will still be a few years until Canada joins the ranks of nations exporting natural gas in the form of LNG
Until then, a great deal of work has to be completed on both the LNG Canada liquefaction and export facility in Kitimat, BC, and the primary gas pipeline linked to it: the Coastal GasLink. 
Unlike most LNG export sites in the U.S., which can receive feedgas from multiple production basins via an array of major trunklines, the LNG Canada plant will be relying on gas supplies from primarily one basin: the Montney in Western Canada. And all that feedgas will be transported across British Columbia through one mammoth pipeline. In today’s blog, we take a closer look at the small number of pipelines that will supply gas from the Montney to Coastal GasLink for eventual delivery to LNG Canada.

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