WTI Drops Below $100 During Congressional Hearings; The Breakfast Page -- April 6, 2022

WTI: falls below $100, again; down 2.45%; down, $2.50; trading at $99.46.

• apparently traders are taking the Congressional hearings seriously.

Again, "we" should not be concerned with oil dropping in price. $5-gasoline is not good for the US economy. And I would love to see gasoline at the pump in the US half the price what they pay in France. LOL.

• California certainly needs to be less than $6 / gallon.

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. 

Meanwhile, Pioneer Resources, Mike Fitzsimmons over at SeekingAlpha:

• Back in 2020, Pioneer Resources was one of the first shale oil producers to announce a variable rate dividend policy based on a percentage of FCF. 
• That policy has massively rewarded PXD shareholders, with the most recent Q1 variable dividend being declared at $3 (with the base dividend, the total Q1 payout was $3.78/share). 
• Given the current strip, Pioneers says its variable rate dividend policy (75% of FCF after the base dividend payment) could lead to a total dividend payout of $20+/share this year. 
• At the current price of $244, that equates to an estimated yield of 8.2%.

Later: Pioneer's CEO Sheffield said he expects Permian oil production to rise to 8 million bopd by 2030. That implies an increase of roughly 375,000 bpd a year, or an annual increase of 7% in the first year,of the period, edging down each year to a 4.7% bump in the final year. Link here. 

To put that in perspective, the entire Bakken produces about a million bopd. Unfettered, the Bakken might produce two million bopd. Continental Resources? 330,000 boepd, or 160,000 bopd. 

By the way, what's PXD doing?

• trading at about $240; range, over 52-weeks: $134 - $260.
• P/E: 28
• yield: 1.3%

DVN:

• trading at $58; range, over 52-weeks: $20 - $63
• P/E: 14
• yield: 6.86%

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. 

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The Breakfast Page
For The Archives

I've talked about this before. 

Breakfast runs me about $2.00 at home.

• coffee: depending on the brand, 25 cents to 50 cents per cup, so 50 cents to one dollar; Keurig K-cups: Starbucks, Amazon Solimo, Community, Cafe du Monde (the latter, most expensive; the Solimo, least expensive)
  
• eggs: about 25 cents apiece right now;
• chorizo: 30 cents
• one slice of toast and butter: inconsequential
• white bread: $1.19 / loaf, 40 slices? Three cents a slice.
• home made hash browns (once in a while); one-fourth potato; 75 cents / 4 = 20 cents;
• orange juice: 52-ounce for $3.99; 4 / 52 x $3.99 = 35 cents 
• okay, so with everything, at higher price: $2.50 

Some days, just a slice of toast and coffee: $1.00

Other notes from today's shopping:

• Tom Thumb: I don't shop at our local Tom Thumb; farther to bike; not a pleasant experience; most expensive of my four options;
• Albertson's: a little farther to ride than Target but has some items I can't get at Target, like much sushi at Albertson's; we've always considered prices at Albertson's better than Target
• Target: right around the corner; preferred place to shop;
  
• Walmart: probably best prices but too far to ride for just one or two items.

Target: 

• eggs have gone from $1.19 / dozen to $1.89 / dozen (best price; most were $2.89 - $3.99 / dozen). I was surprised. Did not buy; wanted to see Albertson's prices.

Albertson's eggs across the board more expensive than any at Target.  I could not find the $1.89 / dozen eggs at Albertson's. Best I could find: $2.89.

Chorizo:

• Target: $1.49
• Albertson's: $.189

A single potato:

• Target: 75 cents / pound;
• Albertson's: 89 cents / pound

Very, very surprised. The few items I checked, Target's prices were better than Albertson's especially with eggs and chorizo.

Eggs at Albertson's: a sign was posted that said eggs have increased significantly in price over the past few months, and that Albertson's was working with suppliers to get price of eggs down. 

The receipts below cannot be used to compare prices. I didn't buy same things at the two stores. 

Ice cream has gotten quite expensive. I don't eat ice cream but I bought a small container for Sophia. Likewise, the chocolate croissants are for Sophia. Voortman sugar cookies are incredible and best bang for the buck: $2.99 / package. I believe we get twelve services from one package, or 25 cents for single dessert.

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The Kitchen Gadget Page

One of the cleverest things I've seen for the kitchen. I ordered it from Amazon about a year ago and love it: it's called a dish drying rack but I use it for slicing fruits and vegetables, but for large pots and pans, it does work great as a drying rack.

When done with it, simply roll it up and let it drip dry.