Gasoline Demand -- May 18, 2022

Slowly, slowly, very slow.

Link here.

Biggest Political Story Of The Week -- May 18, 2022

Either one of these is the biggest political story of the week. 

First, US Dept of Homeland Security has paused its new disinformation board; the board's director will resign. Link here. The Bismarck Tribune editorial staff is going nuts. 

Second, Supreme Court of Kansas affirms "Republican congressional map." Link here. 

 
A third story could be added to the list: SCOTUS rules 5 - 4 against illegal immigrant seeking to avoid deportation; inexplicably Gorsuch writes dissent. Gorsuch joined the three liberal-leaning justices in dissent. Story everywhere.

Quibbling And The Price Of Gasoline In Gasoline -- May 18, 2022

 Killing the Keystone: Alberta, Canada, energy minister, "US energy security depends on Alberta." -- May 18, 2022.

The road to California: California has become the first state to ever record an average gasoline price of $6 / gallon. 

The above data point was reported by "GasBuddyGuy." Quibbling, "rb_john" asked:

I don't think a night out with "rb_john" would be any fun. My hunch: he would keep track of how many drinks everyone in the party had paid for.

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The Book Page

From "The Literary Hub." 

This is really pretty good. 

Every day a great series of essays, book reviews, excerpts of new books arrive in my electronic mail. 

I scan through the list and usually find one to three essays, reviews, or excerpts that might be worth reading. 

For the second time in about six months, a book popped up that intrigues (intrigued) me.

This time, at the link, "a Cape Cod book." Just in time for all the Boston Brahmins headed for Cape Cod for the summer. It's really quite clever how the publisher must have arrived at this "release" date.

With a couple of clicks, it's now on its way to my little hovel. It will be here this Friday. Wow.

 

What a great country.

Ovintiv With Three New Permits; Sixteen Permits Renewed -- Daily Activity Report -- Tuesday -- May 17, 2022

WTI: $112 or thereabouts

Active rigs: 39 or thereabouts.

Three new permits, #38954 - #38956, inclusive:

• Operator: Ovintiv
• Field: Westberg (McKenzie)
• Comments: 
• Ovintiv has permits for three Anderson Federal wells in NWNE 16-152-96, 
• to be sited 995 FNL and between 2120 FEL and 2160 FEL  -- only twenty feet between wells.

Two wells came off the confidential list:

• 38309, n/d, Hess, EN-Hegland-156-94-3229H-3,
• 35411, n/d, Crescent Point Energy, CPEUSC Narcisse 2-8-5-158N-99W,

Sixteen permits renewed:

• CLR (8): eight Gordon Federal permits in Dunn County
• Rimrock Oil & Gas (7): six Skunk Creek permits in Heart Butte (Dunn County); and one Charging Eagle permit in Twin Buttes (Dunn County)
• MRO: a Sophia USA permit in Dunn County.

Weekly EIA Petroleum Report -- Pending -- May 18, 2022

WTI: $112.90 just before report released.

Weekly EIA petroleum report, link here:

• US crude oil in storage decreased by a modest 3.4 million bbls from the previous week despite a release of one million bopd from the SPR.
  
• US crude oil in storage now stands at 420.8 million bbls; 14% below the five-year average.
  
• US imported 6.6 million bopd, up by 299,000 bopd from the previous week (yawn). 
• Over the past four weeks, crude oil imports average 6.3 million bpd, 4.7% more than the same period last year.
  
• US refineries are operating at 91.8% of their operable capacity, pretty much unchanged.
  
• distillate inventories increased by 1.2 million bbls last week; inventories are not 22% below their five-year average.
  
• jet fuel supplied was up 28.6% compared to same four-week period last year.
  
• gasoline demand: link here.

After the report released, WTI: $112.70.

Target: Missed -- May 18, 2022

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.

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Camus

Quick: why is Camus trending?

I'm fairly well read.

I tend to follow current events fairly closely. 

Did I simply forget about Camus? Or did I simply "miss" this Camus completely?

I'm not talking about Albert Camus of whom I am aware: wiki entry.

Camus, 1913 - 1960, was born in French Algeria to Pieds Noirs parents. 

He spent his childhood in a poor neighbourhood and later studied philosophy at the University of Algiers. 

He was in Paris when the Germans invaded France during World War II in 1940. Camus tried to flee but finally joined the French Resistance where he served as editor-in-chief at Combat, an outlawed newspaper. After the war, he was a celebrity figure and gave many lectures around the world. He married twice but had many extramarital affairs. 

Camus was politically active; he was part of the left that opposed the Soviet Union because of its totalitarianism. 

Camus was a moralist and leaned towards anarcho-syndicalism. He was part of many organisations seeking European integration. During the Algerian War (1954–1962), he kept a neutral stance, advocating for a multicultural and pluralistic Algeria, a position that caused controversy and was rejected by most parties. 

Philosophically, Camus's views contributed to the rise of the philosophy known as absurdism. He is also considered to be an existentialist, even though he firmly rejected the term throughout his lifetime. 

But Renaud Camus? Wiki entry. 

Apparently in the woke world, Albert Camus is well respected. Renaud Camus, not. At least not in the past week.

But at one time, apparently celebrated by the literati, movers, shakers, and the LBGQT community. 

Known exclusively as a novelist and poet until the late 1990s, Camus received the Prix Fénéon in 1977 for his novel Échange, and in 1996 the Prix Amic from the Académie Française for his previous novels and elegies.

But w hat surprised me is how quickly a new meme was created. Literally overnight for me. Was it The Washington Post or The New York Times that changed the narrative "overnight"? I don't know. Maybe I was the only one that missed all this.

Bakken DUCs Spreadsheet -- May 18, 2022

A reader sent me the monthly DUC update. Thank you very much. I post only the Bakken data. Data for all major US plays is available.

	Bakken
	Drilled	Completed	DUC
Dec-13	--	--	570
Jan-14	178	143	605
Feb-14	210	158	657
Mar-14	224	218	663
Apr-14	217	207	673
May-14	226	208	691
Jun-14	236	225	702
Jul-14	250	243	709
Aug-14	226	207	728
Sep-14	256	232	752
Oct-14	186	243	695
Nov-14	209	202	702
Dec-14	224	194	732
Jan-17	62	52	781
Feb-17	51	58	774
Mar-17	78	71	781
Apr-17	78	104	755
May-17	94	82	767
Jun-17	76	105	738
Jul-17	95	103	730
Aug-17	99	110	719
Sep-17	98	97	720
Oct-17	104	110	714
Nov-17	93	86	721
Dec-17	77	65	733
Jan-18	107	72	768
Feb-18	74	74	768
Mar-18	95	90	773
Apr-18	109	110	772
May-18	124	131	765
Jun-18	108	118	755
Jul-18	134	155	734
Aug-18	108	138	704
Sep-18	108	122	690
Oct-18	120	118	692
Nov-18	110	99	703
Dec-18	108	70	741
Jan-19	120	71	790
Feb-19	108	56	842
Mar-19	111	110	843
Apr-19	118	112	849
May-19	127	127	849
Jun-19	118	149	818
Jul-19	122	122	818
Aug-19	122	144	796
Sep-19	110	88	818
Oct-19	116	108	826
Nov-19	96	88	834
Dec-19	94	86	842
Jan-20	99	98	843
Feb-20	94	100	837
Mar-20	94	108	823
Apr-20	69	33	859
May-20	33	14	878
Jun-20	18	11	885
Jul-20	18	22	881
Aug-20	19	27	873
Sep-20	18	51	840
Oct-20	19	41	818
Nov-20	20	31	807
Dec-20	20	50	777
Jan-21	20	41	756
Feb-21	19	24	751
Mar-21	25	45	731
Apr-21	27	46	712
May-21	29	68	673
Jun-21	31	42	662
Jul-21	32	62	632
Aug-21	39	70	601
Sep-21	41	80	562
Oct-21	43	82	523
Nov-21	47	78	492
Dec-21	52	75	469
Jan-22	53	75	447
Feb-22	64	75	436
Mar-22	66	76	426
Apr-22	69	76	419