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.
BRK-B: why it's hitting all-time highs. The Motley Fool.
Buybacks: US companies setting records. Link to Financial Times.
Apple sales? Not so good. Link here. Shares fall in pre-market trading. Still above $170-support.
Apple TV+: wins "Best Picture" Oscar, 2022, 94th Academy Awards; overshadowed by "the slap"
Treasuries: five to 30-year yield curve inverts for first time since 2006. This will be the headline story today on CNBC. By 10:00 a.m. we will have moved on.
Energy transition: "The US and Europe are just now starting to acknowledge that the energy transition will take time [and lots and lots of money] -- ADNOC. Link here.
- Who will get stuck with the bill? Auto manufacturers.
- EU: currently installing <2,000 public EV charging units each week;
- demand? 14,000 public EV charging units each week;
- link here or go direct to spglobal
- estimated cost: Eur8 billion / year
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.
Oil:
- US oil exports surge, drawing crude away from Cushing; Midland oil headed to coast;
- so, what was supposed to "replenish" Cushing? Not mentioned.
- see below
- WTI: Shanghaied. Simply another buying opportunity.
- once-in-a-lifetime opportunity: Murphy Oil sees it as opportunity to cut debt.
- plans to ramp production 11% per quarter this year
- let's see: 100,000 bopd x 1.11 = 111,000; 123,210; 136,763; 151,807; = 52% for the year?
- 4Q21: 158,000 boepd; 87,000 bopd; at a 52% increase, y/y, should we see 132,240 bopd next year (2023)?
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.
From the blog, almost seven years ago to the day, link here:
So, if that's true, what is driving oil over $100? It's not the weakness of the dollar. The dollar rose slightly or remained flat, during the rise in the price of oil, so it's not the weakness of the dollar driving the price of oil.
I can go through a laundry list of likely reasons (which I recently did) but I'll cut to the chase. I think it has to do with the drawdown at Cushing. The Keystone XL 2.0 South is draining Cushing; Keystone XL 2.0 North which was meant to replenish Cushing is not on-line, and probably never will be. Bakken oil should be replenishing Cushing via railroad and existing pipelines, but operators are getting better returns shipping Bakken oil to the east coast and the west coast.
Got coal?
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