Off The Net For About An Hour -- Going Biking -- Wednesday, September 28, 2022

In addition, family commitments later today could impact blogging.

Hurricane Ian:

• the hurricane:
• one degree of longitude: 54.6 miles.
• diameter of the eye: about 35 miles (needs to be fact-checked).
  
• Florida:
• St Petersburg, FL: 27.7676° N, 82.6403°W.
  
• Tampa, FL: 27.9506° N, 82.4572°W.
• 9:41 a.m. CT: eye of the hurricane, per google winds -- 26.50° N, 82.55°.
• just slightly south and just off-shore from St Petersburg, FL
• St Petersburg, FL, now feeling the brunt of the storm
• 11:01 a.m. CT: eye of the hurricane, per google winds -- 26.62° N, 82.59°.
• 2:53 p.m. CT: eye of the hurricane, per google winds -- 26.71° N, 82.15°. East of St Petersburg/Tampa; slightly south "by definition" but obviously right on top of the cities. 
• 4:25 p.m. CT: eye of the hurricane, per google winds -- 26.77° N, 82.10°.

International:

• amazingly quiet with regard to explosions off coast of Denmark, taking out Nord Stream pipelines
• only two countries have that capability 
• neither country is likely to comment on the explosions unless necessary
  
• US presidents are change agents
• Biden, living in the shadow of Obama, feels the power
• Biden, probably not a fan of Putin's 
  

Something to think about:

• the explosions that rocked Nord Stream were not small;
• reading the Wise Gals certainly suggests the (long?) process leading up to this, and the necessary approval process at the highest level

One of four lines might still be operational, but needs "certification," link to Charles Kennedy:

• Russian analysts suggest the Nord Stream pipelines could still deliver (some) natural gas to Europe;

Russia shut down Nord Stream 1 indefinitely early this month, claiming an inability to repair gas turbines because of the Western sanctions. The twin pipeline of Nord Stream 1, Nord Stream 2 was never put into operation after Germany suspended the certification process after Russia invaded Ukraine.

Flashback. From February 7, 2022.

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Weekly EIA Petroleum Report

The report is linked here (dynamic link):

• US crude oil inventories: increased by a paltry 0.2 million bbls despite continued record non-emergency releases from the SPR.
• US crude oil inventories are about 2% below their five-year average.
• More concerning, distillate fuel inventories decreased by 2.9 million bbls; now 20% below their five-year average.
• Total commercial petroleum inventories decreased by 8.9 million bbls last week.
• Jet fuel supplied was up slightly; up 2.6% compared with same four-week period last year.

WTI: up3.3% up $2.60; trading at $81.08. Tailwinds:

• Biden administration talking about refilling the SPR (they won't );
• OPEC talking about cutting production in light of falling prices;
• overall inventories drop despite huge SPR releases, which, by the way, have been extended through November
• President Biden must be aware of continuing challenges after November: he specifically mentioned oil companies need to bring down gasoline prices; gasoline prices, after falling for months, are now increasing again;
• Ukraine war drags on
• it is interesting that petroleum inventories are dropping at this time of the year and in light of the huge SPR releases
• SecEnergy says US not considering limiting US energy exports to Europe