Hurricane Hitting Landfall -- August 30, 2023

Locator: 45502B. 

Hurricane: eye of the storm just about to hit the coast. Link here. First video on CNBC this morning, out of Gainesville: absolutely quiet. No rain, slight wind. But videojournalist says to keep watching his reports and CNBC because it's going to get so much worse. So much worse. He was upset to see folks out and about driving their cars. Peter Zeihan comes close to calling this storm a "nothing burger."

Apple:

• Apple, Qualcom and Globalstar;
• Globalstar up 23% yesterday; 11% today; for a stock selling less than $2.00
  
• Apple's iPhone 15 looks like a bargain -- Barron's.
• newest iPhone only $70 more than original iPhone, adjusted for infation.

Lego: sales increase while other toy makers struggle. Link here.

NVDA: funds punished for owning too few shares NVDA. Link here.

• BRK was one of them.
• so many story lines here.

Energy: five energy stocks with great dividends. The usual suspects, including KMI.

Chips: stocks are surging; why they might just be getting started. Link here.

HP: down 8%. 

Say what? ND ANG, Hector Field, Fargo, soon to be home to a hypersonic missile data processing center for the US military. Another huge data processing center in North Dakota. Think Nvidia blades. More information needed. Link here. Direct to Bismarck Tribune story here.

Sky Range does not involve flights in local airspace. The U.S. Defense Department tests hypersonic vehicles in airspace over the open ocean. Unmanned aircraft operated from Grand Sky, adjacent to Grand Forks Air Force Base, will collect data from these tests, and the data will be processed in Fargo.

Hypersonic missiles travel from 1-5 miles per second, or between five and 25 times the speed of sound, and they’re a weapon that America’s adversaries, such as China and Russia, are also trying to develop, Hoeven said.

Bonds: readers know my stance on bonds. No way do I understand bonds better than the banks. Here's how the Bank of England is doing:

• Bank of England will face major losses on its bond purchases -- and it's set to get much worse.

TRICARE: cost-shares update. 

• copayment;
• cost-share;
• annual deductible.

*****************************
Back to the Bakken

WTI: $81.68.

Friday, September 1, 2023: 53 for the month; 255 for the quarter, 500 for the year
37935, conf, BR, Boxer 3B MBH,

Thursday, August 31, 202: 52 for the month; 254 for the quarter, 499 for the year
None.

Wednesday, August 30, 2023: 52 for the month; 254 for the quarter, 499 for the year
None.

RBN Energy: MVP optimism spurs Williams / Transco Gas midstream expansions, part 2. Archived.  

It took an “Act of Congress” and a decision from the highest court in the land — handed down by the Chief Justice no less — but it’s looking more and more like Mountain Valley Pipeline (MVP) will be completed as early as by the end of this year, opening up 2 Bcf/d of new takeaway capacity for the increasingly pipeline-constrained Appalachian gas supply basin. That’s shifted the industry’s gaze to bottlenecks downstream of where the bulk of the volumes flowing on the new pipeline will land — on the doorstep of Williams’s Transco Pipeline in southern Virginia. A number of midstream expansions have been announced to capture the influx of natural gas supply from MVP and shuttle it to downstream markets in the Mid-Atlantic and Southeast regions, and indications are that more will be announced and greenlighted in the coming months. These projects will be key to both enabling gas production growth in the Appalachia basin as well as meeting growing gas demand in the premium markets lying on the other side of the constraints. In today’s RBN blog, we delve into the details and timing of the announced expansion projects vying to increase market access to MVP supply.

In Part 1, we provided the latest developments on MVP, which, along with the growing demand for gas-fired generation in the Mid-Atlantic and Southeast, is the impetus for the other midstream projects we’ll dive into today. The biggest news, of course, is that the long-sought pipeline looks like it is finally happening. There are three main events that shifted the odds in favor of MVP in recent months just as it was looking like it would languish under the weight of endless legal battles. The first was the Fiscal Responsibility Act of 2023 (FRA), which was signed into law in early June and included a rare mandate from Congress to permit and complete MVP. As we detailed in Rescue Me, the provision stripped the U.S. Fourth Circuit Court of Appeals of jurisdiction, prohibited any further challenges to the state and federal permits, and, for those wanting to challenge the FRA provision itself, it restricted jurisdiction to the DC Circuit Court. The second was the Supreme Court decision to grant MVP’s emergency appeal and negate the Fourth Circuit’s ruling to stay construction even after the FRA was signed. And finally, the third was the lower court’s decision to dismiss pending petitions against MVP given the FRA took away its jurisdiction to hear them.