Locator: 46406B.
Dow closes at record high.
Personal investing: as a rule, I no longer put new money into energy, but today CVX was just too good to pass up, paying over 4%.
Tag: Cramer Santa Claus rally Fed JPow exuberance inappropriate. Or: “I was right.”
Today, December 28, 2023, close:
Busy, busy day:
- FOMO on CNBC.
- interesting to listen to talking heads who have been bearish all year, now bullish
- southern surge: the surge is tracked here.
- all of a sudden: going into a presidential election year, Biden, Blinken, and Nod getting religion?
- pet peeve
- 10,000 new undocumented visitors entered Texas yesterday (and every day)
- NYC unable to handle 180 new undocumented visitors
- oh, give me a break
- S&P 500
- looking for a record; probably won't set it today
- 529
- contango: back in contango
- tracked at the blog;
- search here;
- crude oil: the next five years, posted May 20, 2018;
- alma mater USC
- walloped Louisville; Louisville was 10-1 for the season; playoff contender? Not.
- Miller Moss: first college start; has his own wiki page; set record with 6-TD passes;
- oil peak demand
- peak demand: Dan
- peak demand: Javier
- peak demand: Staunovo
- huge inventory increase today; oil tickers down;
- BioNTech:
- XOM shale
- hydrogen
- green hydrogen fans see red over Biden's tax-credit proposal;
- hydrogen op-ed, The WSJ;
- California
- retired cops taking their huge pensions with them to Idaho;
- thank you, Governor Newsom;
*************************
Back to the Bakken
WTI: $73.32.
Friday, December 29, 2023: 44 for the month; 193 for the quarter, 763 for the year
None.
39231, conf, Grayson Mill, Reidle 6-3F 3H,
RBN Energy: the top ten blogs of 2023.
#10 –2/26/23 – Natural Gas: Gotta Get Over - The Race to Debottleneck U.S. LNG Feedgas Routes
#9 – 10/25/23 – NGLs: OMG - The Build-Out of Permian Gas Processing Capacity Isn’t Over, Not by a Long Shot
#8 – 9/26/23 – Natural Gas: It's a Gas Gas Gas - High-Nitrogen Permian Natural Gas Mucks Up Texas Gulf Coast LNG Feedgas
#7 – 1/9/2023 – NGLs: When the Levee Breaks - Why U.S. Natural Gas Liquids Production is Surging
#6 – 3/23/23 – Crude Oil: Trading in the USA - Pulling Back the Curtain on North America's Crude Oil Trading Market
#5 – 9/6/23 – Renewables: The Contenders – Unveiling the Full List of Survivors of the DOE's Hydrogen Hub Cutdown
#4 – 3/6/23 – Natural Gas: The Heat Is On - Is New England Headed for an Electricity Supply Crisis?
#3 – 4/9/23 – Crude Oil: Shake It Up - Why SPOT Will Change Everything in the U.S. Crude Oil Export Market
#2 – 2/12/23 – Natural Gas: The Final Countdown, RBN’s Five-Year Natural Gas Market Outlook
#1 – 8/13/23 – Crude Oil: The Payback - Canadians 'Avenge' Keystone XL Loss With Takeover of Top U.S. Crude Export Terminals
We got a kick out of this one.
The most hits of any blog this year came from a posting that highlighted a bit of irony in North American crude oil markets. It had been a couple of years since TC Energy finally threw in the towel on its long-planned, long-delayed Keystone XL pipeline project, which would have substantially increased the flow of Western Canadian heavy crude to Gulf Coast refineries and export docks.
It was a bitter loss.
But then came the ironic part. Since then, two other companies headquartered north of the 49th parallel assumed leading roles in the U.S. crude oil market or, more specifically, crude exports. First, Enbridge acquired the U.S.’s #1 oil export terminal — now called the Enbridge Ingleside Energy Center (EIEC) — and related assets for US$3 billion and then, on August 1, Gibson Energy announced that it had closed on the US$1.1 billion purchase of the nearby South Texas Gateway (STG), which is #2 in crude export volumes.
In this blog, we discussed the increasing role of Canada-based midstream companies along the Gulf Coast. Was it our brilliant analysis that pulled in all the hits? Or perhaps a bit of schadenfreude?
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