Looks Like A Quiet, Boring Day -- Oh, That's Right -- Tesla Reports At Close -- October 20, 2021

China:

• oil: building inventories during the year of the plague, while rest of world was drawing down; now China is drawing down; since May, China drew down by 550,000 bpd, roughly have the world pace; last week it drew by 2 million b/d, twice the word pace; link here.
• coal: aims to raise coal output to 12 million tons per day; back in May had said it would cap coal to 11.2 million tons/day, link here;
• never in history has a ton of coal cost more -- Bloomberg

That climate warming conference in Glasgow? "No one" is going. World leaders not attending: Biden, Putin, Xi, Queen Elizabeth. It looks like John Kerry will be the headliner. 

Facebook: website stays, but "holding company" re-brands itself. 

Tesla earnings at close today. Link here. 

On tap today: CP, CSX,  KMI, IBM.

Bitcoin: up a bit. Up about $400, trading solidly above $64,000.

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Let's Go, Bakken

Active rigs:

$81.98	10/20/2021	10/20/2020	10/20/2019	10/20/2018	10/20/2017
Active Rigs	28	15	61	71	54

No wells coming off confidential list.

RBN Energy: Mexico's Pacific Coast LNG export projects gain traction, part 3. Archived.

After years of waiting on the so-called “second wave” of North American LNG, 2022 could finally be the year that sees multiple LNG export projects reach a final investment decision (FID). Global gas fundamentals have been bullish for about a year, and prices hit record highs throughout the summer and fall. Offtakers around the world are clamoring and competing for LNG cargoes, anticipating a volatile and undersupplied winter. But with Russian piped exports to Europe expected to increase dramatically as the controversial Nord Stream 2 pipeline finally comes online, likely early next year, North American LNG is looking for ways to be more attractive to Asian offtakers. One option on the table for North America is to go west and export from the Pacific Coast, which cuts the voyage time to Asia in half. Exporting from the Pacific Coast is not without its challenges, however, including where and how to source the feedgas required for liquefaction. In today’s RBN blog, we continue our series looking at Pacific Coast LNG export developments, this time focusing on feedgas and infrastructure for the LNG projects in Mexico.