EOG: earnings.
Wow, look at these numbers:
ISO-NY, link here:
EOG: earnings.
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Back to the Bakken
WTI: $88.54.
Natural gas: $8.122.
Active rigs: 47
Three new permits, #39133 - #39135, inclusive:
Three producing wells (DUCs) completed:
Name changes to four wells, all CLR wells:
I remember when I was in training we were taught to "treat the patient, and not the lab results."
It seems Americans are more fixated on treating the lab results now, and not the patient.
I see Peter Zeihan is preparing for a backpacking trip. It looks like Mr Zeihan and I are starting our August vacation about the same time.
I wonder if our paths will cross in Glacier National Park?
Wow, great news just as Sophia and I start our annual road trip: GasBuddy suggests we might see sub-$3-gasoline on our trip.
I don't know if this is new or just old news, but apparently "they" are still finding "polio" in wastewater in New York state, near NYC.
I never did get back to a "most perplexing energy story," but it keeps popping up. Link here. I lost interese in the story when remarks from readers suggesting they ... whatever ..
Could the Dow turn green at the finish today? After the huge rally yesterday?
As far as I'm concerned, I would like to see the Fed raise "the rate" another 75 basis points:
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. Full disclaimer at tabbed link.
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.
Streaming: link here. Streaming wars.
Updates
Later, 8:12 p.m. CT: post-Covid pivot? WBD wants to get big movies back on the big screen?
Later, 7:15 p.m. CT: for investors, this is getting good. The fog is starting to life. For streamers and streaming and investing, Q: what's the moat?
Later, 7:01 p.m. CT:
Original Post
Earlier this morning I noted that Warner Bros Discovery killed the $90-million "Batgirl" movie. My thinking was wrong (again, not unusual).
This is absolutely fascinating. The lede:
On Tuesday, Warner Bros. announced its plan to not move forward with the release of Batgirl, a movie that cost an estimated $90 million to produce, along with the less expensive film Scoob! Holiday Haunt, a property based on the cartoon about crime-solving dog Scooby-Doo.
The decision came as a surprise to many, as the movie had already finished production in March of this year and featured an all-star cast including actress Leslie Grace in the lead role, providing significant Latinx representation in a major motion picture.
Directed by Adil El Arbi and Bilall Fallah, the film was also meant to feature Michael Keaton as Bruce Wayne—a return of the Golden Globe–winning actor to a role he hadn’t played in 30 years.
Keaton was the first big-screen Batman in two Tim Burton–directed movies in 1989 and 1992 that ascended to cultural phenomenon status and set the stage for the coming decades’ superhero blockbuster boom.
So why throw away tens of millions in investment and the return of a legendary actor? According to Warner Bros., now under new leadership since a merger with Discovery was finalized, it cut Batgirl because the release no longer made sense within the company’s broader business strategy.
Prior to the Warner Bros. spinoff from ATT and merger with Discovery:
Now, with Warner Bros spinoff from ATT with merger with Discovery:
CPI next week? Calendar.
RBOB today; $2.92.
Retail gasoline, average, US, at the pump: 80 cents to one dollar spread.
Average US gasoline price at pump: $3.82 to $3.92?
Road trip:
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Days US Supply Crude Oil
Increases.
Now 26.3 days; previous week, 25.8 days.
Three most interesting data points in past 24 hours.
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Saudi Arabia OSP
Initial jobless claims: 265,000
Earlier in the week, an analyst suggested an initial jobless claims of 275,000 or greater would be a huge concern regarding the economy going forward.
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AMZN: An Open-Book Test
On May 24, 2022, just days before the 20 - 1 split, AMZN was trading for $104, on a split-adjusted basis.
Today, less than three months later, AMZN will be trading at $140.
Forecast for 104°F in NYC today.
ISO-NY. Prices already starting to move up.
I posted a screenshot of the ERCOT graph yesterday. It's probably one of of the most straightforward / easy-to-read graphs of all the graphs I post. A reader sent me a note asking if I could "explain" the graph. Truly amazing.
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Woke Goes Broke
Warner Bros shelves $90 million "Batgirl" film.
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The Book Page
Must read. "How one middle-aged novelist single-handedly invented the look of the classic sex scene."
Every cliché has its origin story. Many of the over-familiar visual signposts of the modern romance began with an eccentric middle-aged British sex novelist with flaming red hair and a fondness for cats. During the 1920s, while Prohibition roared, Elinor Glyn (1864-1943) created the mold for how the modern love scene looked. Glyn invented, and then literally staged, these and many other familiar scenes.
Her dozens of “trashy” bestsellers drove the romance novel in a more explicitly erotic direction, adding the special sauce that would make it the 20th century’s bestselling genre. Later, on movie sets, she taught the founders of the Hollywood movie colony that they could make the display of sex tasteful—just acceptable enough to the moralists—by making it glamorous. Madame Glyn (as she insisted on being called when she came to Los Angeles) personally styled Hollywood’s first sirens and Don Juans, teaching them how to walk, dress, talk, make love, and—most importantly—manage the attention that they courted and feared in equal measure.
Inventing the It Girl: How Elinor Glyn created the modern romance and conquered early Hollywood, Hilary A. Hallett, July 26, 2022.
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The Golf Page
LIV and PGA go to court.
Tiger Woods turned down $750 million to join LIV.
Days US Supply Crude Oil
US gasoline demand.
Jet fuel supplied as reported by the EIA, weekly petroleum report.
From the EIA report, released yesterday for previous week data:
To spin off Knife River: link here.
Earnings: press release.
Beats.
Link here. And, here. And, here.
Profit pops past $5 billion; hikes planned return of capital by $5 billion.
Beats:
From Michael Fitzsimmons at SeekingAlpha:
Germany car production. Link here --
iPhone pricing: holding the line:
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Back to the Bakken
Far Side: link here.
WTI: $91.54.
Natural gas: $8.397.
Active rigs: 46
Friday, August 5, 2022: 4 for the month, 35 for the quarter, 374 for the year
Thursday, August 4, 2022: 3 for the month, 34 for the quarter, 373 for the year
RBN Energy: Can the carbon-capture industry grow as quickly as it needs to? Part 10.
It’s one thing if you’re 25 or 30 years old and your 401(k) is just getting started — you’ve got time to build it up, so don’t sweat it — but it’s quite another if you’re 60 or 65 and you’ve still got to sock away a lot of money before calling it quits. It could be argued that the environmental community is facing a quandary very similar to that of an aging boomer short on retirement savings.
The fact is that the International Energy Agency’s (IEA’s) target of achieving net-zero man-made carbon emissions globally by 2050 in order to blunt the human impact on climate change will require massive new investment and a complete and well-coordinated transformation of the world’s energy complex. In the near-term, progress along that path must include an extraordinarily rapid ramp-up in the use of carbon capture and sequestration (CCS). And like an aging worker whose late discipline may be thwarted by an unforeseen health challenge, as we’ve seen with the recent energy crisis, there’s a lot that could derail progress toward those goals. Is the IEA's goal achievable? Maybe. But, as we discuss in today’s RBN blog, it won’t be easy.