Another Slow Summer Day? June 8, 2022

Monkeypox; huge flip-flop by the CDC. Link here. In the US, monkeypox is an STD, particularly in the male non-heterosexual community. Wiki entry. Read closely. The CDC has lost all credibility. Along with the FDA (baby formula debacle). IRS? Shredding documents 'cause they can't keep up. DOT?  FBI? The list goes on and on.

Long Island: early morning, already over $110 / MWh.

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Back to the Bakken

Far Side: link here. 

WTI: $119.70; $120 overnight.

Active rigs: 40 or thereabouts. 

Wednesday, June 15, 2022: 23 for the month, 161 for the quarter, 321 for the year

• 38434, conf, WPX, Wounded Face 14-15HB, McGregory Buttes, no production data.
  

Tuesday, June 14, 2022: 22 for the month, 160 for the quarter, 320 for the year

• 38433, conf, WPX, Wounded Face 14-15HX, McGregory Buttes, no production data.

RBN Energy: a look at both sides of the debate over renewable identification numbers. 

Last month, in the U.S. Environmental Protection Agency’s (EPA) latest ruling in a long-running dispute with refiners over the Renewable Fuel Standard (RFS), EPA denied 36 petitions from refiners seeking exemptions to their obligation to blend renewables like ethanol into gasoline for the 2018 compliance year. At the core of this dispute are two contradictory premises about Renewable Identification Numbers, or RINs. One premise says the RINs system adds cost that hurts refiners’ profitability, while the other says refiners’ profitability is not affected. Can two seemingly contradictory premises be true? In today’s RBN blog, we begin an examination of the issues surrounding RINs and the degree to which the cost affects refiners’ and blenders’ bottom lines.