Phil Mickelson: +9 for the tournament; already +1 today after only four holes
Tesla: "anonymous" continues to write me that Tesla margins have never been better. Barron's tends to differ. After huge loss yesterday, TSLA up marginally (pun intended) today, but still trading below $650.
Australia's new Labor government orders coal-fired plants back online. Link here.
France: just in -- natural gas from Russia via Germany has come to a complete halt.
Germany: the "greens" destroyed Europe's economic engine. Link here.
The Permian: misread by an expert / analyst. Link here.
**********************
Back to the Bakken
Far Side: link here.
WTI:
Active rigs: 39 or thereabouts.
Friday, June 17, 2022: 25 for the month, 163 for the quarter, 323 for the year
- 37329, conf, Petro-Hunt, Lovdahl 158-94-32C-29-2H,
RBN Energy: RINs as a tax and a subsidy, part 2.
For several years now, no single topic has caused more angst in refiners’ quarterly earnings calls than the seemingly arcane topic of renewable identification numbers, or RINs, which can have a big impact on a refiner’s financial performance. RINs are a feature of the federal Renewable Fuel Standard (RFS), which requires renewable fuels like ethanol and bio-based diesel to be blended into fuels sold in the U.S. And depending on your point of view — farmer, refiner, blender, consumer, politician — you may have a very different perspective regarding RINs’ role as a tax and a subsidy. In today’s RBN blog, we dig into the fundamental aspects of RINs at the root of this long-running controversy and examine the role of RINs as a mechanism for forcing renewables into fuels.
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