One Liners -- Notes From All Over -- February 7, 2022

One-lines, most without links:

• Frontier - Spirit to merge. $6.6 billion deal. 55 - 45 split, or about that. 
  

• Alibaba: one year, from $250 to $117.

• Tesla: stops scheduling new rooftop solar installation. For now. Electrek.

• Rigs don't matter (don't take that out of context): comparing rig count to historical is a waste of time. We're drilling twice the length in half the time. -- Patch.

• Texas pipeline: Targa to sell Gulf Coast Express Pipeline stake for almost $1 billion. Hart Energy.
•  carries natural gas from Permian to Corpus Christi on the Texas Gulf Coast
• began operating in late 2019

• Jobs: payrolls gain almost 500,000 jobs in January. Surprises everyone. Manipulation of data suggested. Social medial. Government admits they have changed methods of counting. Previously posted.

• Gold: got whacked last week after that huge jobs report
• wiped out all gains it had made last week
• mostly because of real yields rising
• the economy is strong; the Fed hike is on
• source: Eddie Spence
  

• Brent: backwardation is currently "unusually strong" and seldom seen in Brent.
• since 2008, only eleven trading days with equal or strong second month to third month sprea
• source: Javier Blas

• WTI: prompt time-spread has jumped more than $2.20 per barrel, signaling extreme tightness in Cushing. 
• WTI Posting-Plus differential up over $6 / bblr -- that's only the twelfth day ever it trades above that level in more than 7,500 trading days since 1992
• source: Javier Blas

• WTI-Brent spread: puny WTI/Brent spread -- but, no, Cushing won't run out of storage. Source: Abhi Rajendran.

• Gazprom, Europe and China: all that talk about Russia sending more natural gas to China, will it limit natural gas being sent to Europe
• answer: impossible if you look at the map
• in addition, China does not have the pipe from western China to eastern China and that western China topography (think: mountains) is horrendous for pipeline construction
• source: Dinaa Khrennikova and OIES

• OPEC's spare capacity: some readers not paying attention. Link here. 

• FSRU: floating storage and regasification units -- cheaper and faster to build than onshore. A reader told me this last year. Now being reported by Rigzone. 

• Meta: it's one-day crash now ranks as the worst in stock-market history. Source: Stuart Wallace and Bloomberg Calculations.

• Apple: will cost FB $10 billion in 2022. Cry me a river. Apple wants users to decide whether they want to be tracked by FB or not. This is a no-brainer.

• Anti-vaxxers: US Army has begun discharging those those disobey orders. Previously posted. 

• Anti-vaxxers: Apple in process of letting employees "go" / leave company if not vaccinated.