End-Of-Day Odds And Ends -- July 14, 2022

Italy: Mario Draghi is resigning as Italy's prime minister. Let's see if Draghi simply forms a new coalition government. This may be a non-story. Let me correct that. This is a non-story.

Equinor: has acquired East Point Energy, a US-based battery storage developer. 

Subsidies: wind and solar will continue to need subsidies until 2040. Let me correct that. Wind and solar will continue to need subsidies until at least 2040. Link here. From ScienceDirect.com. Link here for reply and basis of concern:

SPR refill. LOL. It's not gonna happen.

• the reality is, by the time SPR releases are done, the U.S. will be producing ~ 12.6m bbls/d, refinery runs will slow down, and there will be no replenishing of SPR so unless demand is really strong, not sure we stay around $100. Link here.

Cooling: five housing markets cooling. Four in California:

• San Jose, CA
• Sacramento, CA
• Oakland, CA
• Stockton, CA
• Seattle, WA

US crude oil build: crude oil shipments across the US Gulf Coast fell by almost a million bopd to 2.5 million bopd for the week ended July 8, 2022. This would explain part of the weekly crude oil build. Lin here.

EVs:

Disruptive:

• EVs: link here. Scorecard.
  

ERCOT: 

• "Tesla sent over-the-air (OTA) notifications to drivers in Texas asking owners to avoid charging their EVs during peak hours of energy use." Link here. 
• is anyone paying attention? A handful of Teslas in Texas and the vehicles are putting "a strain" on the grid
• has anyone thought any of this through? 
• and remember, most folks charge their EVs in the "off" hours. 

Snarky comment: several weeks ago a reader was less than pleased that this inconvenient truth is already being reported -- that EVs are putting an incredible strain on the grid even though EVs are "generally" recharge at night when overall demand is less.