Links later. Google it. Easily fact-checked. The good news: Washington State folks are very, very well off — they all have 6-figure jobs with Microsoft. Ten-dollar gasoline will be just fine.
https://nationworldnews.com/washington-state-gas-stations-run-out-of-fuel-preparing-for-10-a-gallon/
Time for President Biden to freeze gasoline prices, nationalize XOM.
******************************
Largest Pure-Play E&P In The Delaware Basin
In other news, https://oilprice.com/Latest-Energy-News/World-News/US-Shale-Merger-Creates-A-New-7-Billion-Giant.html.
Centennial Resource Development and Colgate Energy Partners III, LLC have agreed to combine in a $7.0-billion merger of equals, creating the largest pure-play exploration and production (E&P) firm in the Delaware Basin in the Permian.
The combined firm will be the largest pure-play E&P company in the Delaware Basin, with around 180,000 net leasehold acres, 40,000 net royalty acres, and total current production of approximately 135,000 barrels of oil equivalent per day (Boe/d).
The $7.0 billion merger of equals values Colgate at approximately $3.9 billion and is comprised of 269.3 million shares of Centennial stock, $525 million of cash, and the assumption of approximately $1.4 billion of Colgate’s outstanding net debt.
I live in Washington state and read that national story. The station with $10.00 fuel is in Auburn, WA and close to a racetrack. The $10.00 fuel is actually racing gas no great for regular cars. With our taxes, I'm guessing it's not too far away.
ReplyDeleteThank you. Much appreciated. The big concern is that retailers are upgrading their gasoline pumps to show $10+ / gallon.
Delete