The MRO Bailey Oil Field -- September 30, 2023

Locator: 45606B.  

The Bailey oil field is tracked here.

I'll never quit blogging about the Bakken but if I did quit, I would replace the blog with a blog on MRO activity in the Bailey oil field, North Dakota. Just saying. But I guess that’s still sort of like the Bakken. But different.

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On Another Note

For the record, I have more posts than GasBuddyGuy has tweets.

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On Another Note

Nothing to do with the Bakken, but for the archives, I've just about had enough with EU regulators. Now, the EU is upset with Nvidia.

 

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On Another Note

My wife seems to be able to drive to any location in the local area in a third of the time it would take me.

 

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On Another Note

I have to laugh. Some folks think the government shutdown was due to Feinstein. LOL. 100% due to GOP. The WSJ. [Later: GOP does their job.]

 

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On Another Note

Reality sucks.

Softer inflation.

Underlying inflation cooled notably this summer, with price pressures moderating for a third consecutive month in August. 

If that continues this fall, it would strengthen the case for the Federal Reserve to stop raising interest rates. 

The Fed’s preferred inflation gauge, the personal-consumption expenditures price index, rose a seasonally adjusted 0.4% last month, largely reflecting energy costs. 

Core prices, which exclude food and energy, rose just 0.1% in August, the weakest monthly increase since 2020, the Commerce Department said Friday. 

Over the three months through August, core prices rose at a 2.2% annualized rate. If that trend continues in the coming months, inflation would be running very close to the Fed’s 2% target.  

But higher energy prices pushed up overall inflation last month, highlighting why officials aren’t ready to declare victory.