And So It Begins -- WTI Solidly Above $88 -- Three Wells Coming Off Confidential List -- Saudi Says It Will Raise OSP In March -- January 27, 2022

Tractor Supply: increased dividend by 77% and adds $2 billion to buybacks. 

OSP: official selling price. Link here.  

Spotify: top story on CNBC this morning. Wow. Wait until the rest of the "woke" artists take their music off Spotify. Spotify shares are plummeting. One year ago: $350. Yesterday, at close: $175.

Joe Rogan / Rush Limbaugh? I don't know. I've never listed to Joe Rogan but that's mostly because I've never listened to podcasts. 

Air tag stalking: mountain out of a mole hill. 

XLNX: surges. Up $2.22 (1.3%) at close yesterday; pre-market today, up $12.77 (7.31%). Something happened? AMD down.

Tesla: beats. 

Full-self-driving was the focus; explains why no new models. TSLA margins approaching 30%; in same ballpark as Apple's margins of 38%. Pulling away from competition: margins for GM and F 14%. TSLA now the benchmark for manufacturing. Much more than a car company now. 

Shakeout coming? TSLA pulling away from competition. Oh, I already said that. 

Ford is the second best. 

Rivian having problems; that's why Amazon "switched." To succeed, EV manufacturers need three things: 1) attractive product; 2) ability to produce; and, 3) quality -- it has to work. Tesla clicking on all three, as is Ford. Rivian is faltering in manufacturing and quality. GM: questions about attractiveness and quality. They had to recall all their Bolts last year; only delivered 26 EVs in 4Q21. Ford delivered 29,000 Mustang EVs; ramping up200,000  to and doubling their F-150 Lightning production; $40 billion cash on hand. 

See also today's article on Tesla over at SeekingAlpha.

NE ISO: hitting all-time highs?

• 8th decile; the only reason it's not in the 9th or 10th decile is because of the screwy "deciles"
• $335 / MW in Massachusetts
• demand: 18,225 MW
• fuel mix:
• oil: a whopping 25%
• nuclear: only 15%
• expensive hydro: 11%
• renewables: down to 5%, with wind at 17% = 0.85% contribution

Josh Young, exclusive: https://www.breitbart.com/economy/2022/01/21/exclusive-climate-change-backlash-hedge-fund-cashing-oil-gas-equities-fossil-fuel-sector-flourishes/. 

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Back to the Bakken

Active rigs:

$88.20	1/27/2022	01/27/2021	01/27/2020	01/27/2019	01/27/2018
Active Rigs	31	12	55	65	57

Thursday, January 27, 2022: 47 for the month, 47 for the quarter, 47 for the year
38391, conf, Petro-Hunt, Dahl 162-100-13A-24-2H,
38049, conf, Slawson, Muskrat Federal 8-28-33H,
37905, conf, CLR, Charolais South Federal 7-10H2,

RBN Energy: LNG's increasing commoditization driven by rising US production.

As recently as the mid-to-late 2000s, the U.S. was expected to become a major importer of LNG. Instead, the opposite occurred. Once forecast to need tens of millions of metric tons of LNG each year to meet its own power needs, the U.S. is now producing about the same amount and sending it out to Asia, Europe, and other overseas markets. That swing — from the expectation of being a major LNG importer to the reality of being a top-tier producer/exporter — has had a huge impact on the global market, and the influence of that reversal cannot be overemphasized. In today’s RBN blog, we look at how U.S. production has moved LNG closer to being a global commodity, the effect of growing U.S. production on the market, and prospects for future growth.