WTI Clawed Its Way Back To $70 -- Look At Trafigura -- December 8, 2023

Locator: 46255B. 

Big story of the day: California budget. Not being widely reported yet, but California in deep doo-doo.

• WSJ: record $68 billion budget deficit;
• discussed on the blog back in May, 2023;
• PBS: Newson, who orchestrated this budget deficit, says the deficit is only$32 billion and manageable;
• Politico: back in November, 2022 -- we saw it coming; only $25 billion deficit; after years off record cash;
• AP: California budget deficit balloons; $68 billion; let's see what Moody says.

Oil profits:

Nashville, Amazon: some suggest Amazon wwill have its largest footprint in Nashville.

• Nashville: mid-Tennessee
• UPS, FedEX: cargo hubs in general area, between eastern Kentucky, western Tennessee; very, very close to North Carolina;
• US economic center gradually moving southwest from Boston-NY corridor to North Carolina-Kentucky-Tennessee

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

WTI: $70.49.

Sunday, December10, 2023: 163 for the month; 163 for the quarter, 733 for the year
39713, conf, Petro-Hunt, Dudley Dawson 148-103-2B-11-2H, 
38255, conf, Hess, EN-State B-155-93-0916H-8,

Saturday, December 9, 2023: 161 for the month; 161 for the quarter, 731 for the year
38256, conf, Hess, EN-State B-155-93-0916H-9,

Friday, December 8, 2023: 160 for the month; 160 for the quarter, 730 for the year
31770, conf, BR, Ivan 5-1-29UTFH,

RBN Energy: targeted approach could be key to success for carbon-capture pipeline projects.

It’s been a tough couple of months for developers of large-scale, multi-state carbon capture and sequestration (CCS) projects, which have been stung by widespread public opposition and often hamstrung by state and local regulations. But while those factors helped lead one developer to pull the plug on its project and another to push back its schedule by a couple of years, that’s not to say there isn’t a path forward for some projects. In today’s RBN blog, we examine why Wolf Carbon Solutions’ targeted approach and a pipeline conversion by Tallgrass Energy could be the most likely CCS projects to reach operational status.