WTI: the narrative has changed.
The tea leaves suggest oil is going to go much higher, if $90-WTI is considered "much higher." That seems to be the consensus, that WTI is more likely to trade near $90 than $60 in the near term, the near term being this cycle. More interestingly, "everyone" it seems is saying that $90-WTI is nothing to be concerned about: the market and the average American will be able to handle it just fine. $90-WTI will be okay for Wall Street and Main Street.
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Back to the Bakken
Active rigs, updated daily at COB by the NDIC:
| $79.03 | 10/8/2021 | 10/08/2020 | 10/08/2019 | 10/08/2018 | 10/08/2017 |
|---|---|---|---|---|---|
| Active Rigs | 27 | 13 | 56 | 64 | 59 |
No wells are coming off the confidential list until next week.
RBN Energy: how big a role will hydrogen play in transportation?
When most people think about alternative fuels in the transportation sector, they think electric vehicles (EVs): Teslas, Mustang Mach-E’s, F-150 Lightnings, and other zero-to-60 stunners. EVs have certainly jumped to the fore among low-carbon options, but other possibilities may prove to be even better. One is hydrogen-fueled vehicles, which while posing a number of economic and logistical challenges, could eliminate the range anxiety associated with EVs — assuming that a robust, nationwide network of hydrogen fueling stations can be developed. In today’s RBN blog, we discuss hydrogen’s potential as a transportation fuel, including its infrastructure-related challenges and how it qualifies for credits under California’s Low Carbon Fuel Standard.
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