Commentary:
- the Biden visit to Saudi Arabia: nothing suggests this will be a successful visit of any importance on any issue
- an incredibly expensive trip, time-wise; physically; and politically
- obvious question: why is Biden doing it?
- tea leaves suggest Saudi has no more to give
- most important question:
- every action has a reaction
- immediately upon return from a highly visible and politically expensive trip with no results, the administration needs to make a huge announcement;
- what will that announcement be? This is the big question.
- options for Biden if trip fails
- tea leaves:
- US to ban crude oil exports at least at some level
- another release from the SPR (in addition to previously announced one million bopd through November)
- windfall profits tax
- gasoline vouchers
- nationalize two or more mothballed, recently shut-down refineries (would take way too long to make any difference, but might "scare" current refiners)
- federal gasoline tax holiday — quick! What’s that tax per gallon?
OPEC: keeps missing production goals
- jeoparidizes Biden's visit to Saudi Arabia to request more oil imports
- only Gabon and South Sudan are meeting producing goals:
Permian: Targa expands footprint.
- to acquire Lucid Energy Delaware LLC from Riverstone Holdings LLC and Goldman Sachs
- $3.55 billion in cash
- current rig activity supports over 20 years of drilling inventory on Lucid's 600,000 dedicated acres
- in addition, Targa provided more details on the Midway plant
- a new 275 MMcfd cryogenic natural gas processing plant
- to begin operations 3Q23 (a year from now)
France: nuclear crisis.
- France typically exports electricity
- but now risks blackouts and a need for imported power because of problems at the state nuclear operator
EVs:
- ELMS has filed; also, here, at insideevs.
Apple:
- employees at Maryland Apple store have voted to unionize; link here.
NHL
- Stanley Cup; second game: blow-out -- 7 - 0; link here.
Politics:
- when you lose The Bismarck Tribune, it's over; link here;
- Joe: I did that; classic video;
- biking collapse;
- deplatformed;
- George Martin discusses all of the Beatles albums
- posted February 25, 2022; interview conducted back in 1993;
Catch me if you can:
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