Holy mackerel: I just looked at my twitter account. I haven't looked at it in ages. I remember when I had less than 50 followers. I was amazed when I got to 146 followers where it plateaued for months (years?). Today I see I have 199 followers. Wow. Thank you. By the way, I quit posting over at twitter when I went back to an ad-free format / blog. But now I'm back to posting tweets. It was just something that was not a priority but now I see I need to get back to tweeting. I never post any mean tweets.
Stocks? Both Schwab and Barron's are saying this -- worried about a recession?
- Schwab says buy dividend-paying stocks;
- Barron's says "consider" buying dividend-paying stocks.
- maybe Schwab said "consider" also, I don't really know the exact wording, just the sentiment.
************************
Back to the Bakken
Far Side: link here.
Active rigs: from the NDIC, June 9, 2022, update --
What do "US inflation" and "NDIC GIS map being down" both have in common? Both transitory and/or temporary.
Active rigs: but for the record, about 42 oil and gas rigs according to the daily activity report.
WTI: I don't even want to look, so we won't.
Thursday, June 23, 2022: 34 for the month, 172 for the quarter, 331 for the year
- 38599, conf, Mureex, Borstad 34-10H-A 2MB,
- 38180, conf, Hess, AN-Norby-152-94-0409H-7,
- 37142, conf, Hess, BL-Olson-LW-155-96-0310H-1,
RBN Energy: energy executives consider Biden's calls for increased supplies and lower prices.
In film and television, the “boxed crook” trope is where a condemned person is sought as a last-ditch effort to pull off some impossible mission or overcome a formidable opponent. In return, the convict is typically offered amnesty or other consideration by the operatives in charge. Millennials will probably think of the recent Suicide Squad movies. For Generation X, The Rock starring Sean Connery was a great example. And for the boomers, it was The Dirty Dozen. Our current situation in the U.S. energy sector may not be quite as thrilling as those movies but the same plot elements exist. In today’s RBN blog, we discuss the predicament faced by industry and political leaders and begin to sort out the various proposals to put a lid on prices and restore energy security.
Then-presidential candidate Joe Biden pronounced judgement on the oil and gas industry on September 6, 2019, when he said, “I guarantee you, we’re going to end fossil fuel.”
After Inauguration Day in January 2021, the Biden administration, in the name of decarbonization, continued to press its advantage against an industry that, with COVID and its resulting demand destruction and low commodity prices, was on the ropes. Policies that would limit supplies were implemented, thereby propelling a transition to alternative forms of energy. And by focusing on supply, rather than demand, a basic understanding of economics told us what was going to eventually happen to prices. Capital fled the sector with big-picture analysts calling the oil patch “un-investable.” The U.S. wasn’t alone in this effort, of course. Around the world, and particularly in Europe, governments enacted plans to reduce fossil fuel development and invest heavily in renewable energy. Major capital funds and investment firms followed suit.
Again, Joe Biden pronounced judgement on the oil and gas industry on September 6, 2019, when he said, “I guarantee you, we’re going to end fossil fuel.”
I have a reader who predicted "we" would be back to coal sometime in the future but I bet he's as surprised as anyone it happened this fast. Maybe. Maybe not. A pretty smart reader. And he said this years ago.
No comments:
Post a Comment