Tuesday, May 2, 2023

Locator: 44518E.

Summer travel: link here. Ground-baased radar vs GPS.

Summer travel: American Airlines pilots authorize strike action.

Covid: finally.

• Biden will end Covid vaccine mandates for federal workers and international travelers
• well, that's a relief for professional tennis players

Credibility: human nature, it is what it is. 

People pick and choose what they want to believe. The Daily Beast readers "find the Daily Beast credible" until something is posted beyond the pale, as they say. So, we have this: Putin grooms Russians for defeat in Ukraine. Link here.

Putin's War: even by Ukrainian standards, this seems quite incredible -- Russia has sustained, reportedly, 100,000 casualties in five months;

• 100,000 includes 20,000 dead
• perspective
• US Vietnam dead (1955 - 1975): 58,220
• US Afghanistan (2001 - 2021): 2,402
• US Iraq (2004 - 2007: about 900 / year, each of those four years
• Russia Afghanistan (1979 - 1989): 15,000 Soviet troops

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Back to the Bakken

Active rigs: 42.

Peter Zeihan newsletter.

WTI: $75.28.

Natural gas: $2.339.

Wednesday, May 3, 2023: 6 for the month; 58 for the quarter, 313 for the year
39261, conf, Hunt, Cook 146-93-24-13H6,
39260, conf, Hunt, Cook 146-93-24-13H5,
36404, conf, WPX, Skunk Creek 4-244-25-13H3,
31211 (no typo), conf, BR, Gladstone 6-1-13MBH,

Tuesday, May 2, 2023: 2 for the month; 54 for the quarter, 309 for the year
37176, conf, Hess, EN-Davenport-156-94-1003H-5,

RBN Energy: trading carbon across the Atlantic, part 2. 

As environmental protection and decarbonization efforts have ramped up in the past few decades, policymakers around the world have come up with a variety of schemes to lower industrial emissions.

The Kyoto Protocol in 1997 committed developed nations to reduce their greenhouse gas (GHG) emissions by a defined amount from 1990 levels by 2012. The treaty was never brought up for ratification in the U.S. Senate, which unanimously opposed it because developing nations — such as China — weren’t included. Across the Atlantic, the Kyoto Protocol was received much more favorably, with all 15 members (at the time) of the European Union (EU) ratifying the treaty in 2002. In 2005, the EU launched the Emissions Trading System (ETS) as a mechanism to help reduce emissions from power plants, industrial facilities and commercial aviation, covering nearly half of total EU emissions.

In today’s RBN blog, we explain the European cap-and-trade system, examine how the ETS is affecting the EU’s refining industry as a whole, and drill down to the refinery level to discuss disparities in carbon-cost exposure from one refinery to the next.