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Thursday, October 14, 2021

Closing Notes From Social Media Today -- October 14, 2021

EU green pass rules: vaccine mandates. Gonna get interesting. Google Italy's mandate to take effect tomorrow, Friday, October 15, 2021. Vaccines or test every two days, individuals paying for tests themselves. Huge fines if they show up to work without their green passes. 

Elections have consequences: remember, Resident Biden is "the boss" and all those federal departments work for him. Not lost on the military. Announced today:

US Navy will expel personnel who refuse Covid-19 vaccine by 11/28/21.

Global warming: China's president Xi will not attend COP26 Conference / Glasgow, Scotland. Something on which I can agree. Xi not going to be part of group think when it comes to global warming.

Oil & Gas Journal: the ongoing energy crisis has prompted a switch to oil that could boost demand by 500,000 bopd compared with normal conditions -- IEA. I think this is old news. This was posted about the time it was announced that OPEC would raise production by 400,000 bopd. I noted that the math was easy to do. WTI trading at $81.57.

Definition of spare capacity: the 30 / 90 rule. Able to increase production within thirty days to meet increased demand for ninety days (or something like that -- need to confirm).

Top video of the day: https://twitter.com/buitengebieden_/status/1448690344711819266.

Discipline? Shale producers likely to "forget" discipline at $85-WTI -- TotalEnergies CEO.

$746: per month. Average cost to heat US home this winter. The Guardian. That's average, so if you suggest you will be paying much less, someone else is paying much more. This is 30% more than a year ago. That's for natural gas. It will be even worse for heating oil. 

Reminder: Resident Biden canceled the Keystone XL; banned fracking / then slow-rolled leasing on federal land. 

Cushing: oil jumped Thursday as a US inventory report revealed the largest stockpile reduction at Cushing since June. 

Fracking: Halliburton will deploy an advanced, all-electric fracking solution in the Haynesville. 

Copper: inventories dropping fast. This is an interesting one. It was a throw-away line by some CNBC talking head the other day. Copper shortage being driven by .... telcos building out their streaming services to compete with ... outfits like Hulu over cable ... or something to that effect ... and then we have all those EVs ... which is all about copper. SCCO surged 6% today, and is up another 1% in after-hour trading.

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

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