Friday, June 17, 2022

Coal Is Back -- Although It Was Never Gone -- June 17, 2022

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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