E15 -- Impact? RBN Energy -- April 20, 2022

PG: Procter  & Gamble posts its biggest gain in decades. Link to The WSJ.   

I just put a load of wash in and what did I use? PG's Tide. And I used cold water -- as PG markets the fact that Tide works just fine in cold-wash cycles. I'm lovin' it.

The Cincinnati consumer-products company said organic sales rose 10% for the quarter ended March 31, 2022, the biggest jump since P&G started tracking the metric 20 years ago. 

Organic sales is a closely watched figure that strips out deals and currency moves. 

P&G’s priciest offerings were in highest demand, the company said, continuing a trend that has persisted throughout the pandemic. 

Rather than switching to discount alternatives, consumers on average switched to even-pricier products, from fragrance-free diapers to high-end razors, P&G finance chief Andre Schulten said in an interview. 

“So far, the consumer is holding up and they clearly see the value in the superiority of our brands,” he said.

BKR, Baker Hughes:

• better than last year, but misses by wide margin
• five cents short of estimates; 15 cents per share -- holy mackerel, that's a wide miss
• shares fall 2% in pre-market trading
• last increased its dividend in 2017
• 2017: 17 cents
• 2018: 18 cents
• 2022: 18 cents
  

FCF, link here: 

FANG --> FAG? If so, everywhere but Florida. Link here:

DUCs, link here:

Oil: in a trading range?

• WTI: $102 - $106? 

*************************************
Back to the Bakken

Active rigs:

$104.20	4/20/2022	04/20/2021	04/20/2020	04/20/2019	04/20/2018
Active Rigs	36	15	32	63	5

No wells coming off confidential list.

RBN Energy: Biden turns to E15 as next tool to keep gasoline prices under control. LOL. 

It’s no secret that higher gasoline prices are a problem for a lot of folks, including everyday drivers, businesses and — maybe especially — the politicians who hear the complaints from the first two. Although prices at the pump have been trending higher for some time, they’ve really come to the forefront in the past several weeks following Russia’s invasion of Ukraine, which has stressed global energy markets and sent U.S. officials looking for any and all options to keep a lid on prices. In today’s RBN blog, we look at President Biden’s decision to allow the sale of E15 gasoline during the summer months, whether it’s likely to provide U.S. drivers significant relief from high prices this summer, and how global pressures are moving ethanol prices higher too.

The bottom line, as expected:

Altogether, the impact of the Biden administration’s move to allow E15 sales this summer will likely be negligible due to E15’s limited availability around the U.S., increasing costs for corn, and the much larger issue of global crude supply availability. Also, increasing costs for corn and ethanol could erode E15’s narrow price advantage over conventional gasoline.

It's very possible E15 could be more expensive than "regular" gasoline.