Locator: 45934AMZN.
With my Amazon Prime credit card I get cash back, which varies depending where the credit card is used.
I get all my books "free" using "cash back" from Amazon Prime.
I use "cash back" occasionally for other purchases.
I noticed tonight that cash in my "cash back" account is now twice the annual Amazon Prime membership fee.
The #1 streaming media I use: Amazon Prime Video.
Locator: 45933B.
Top story:
Top international non-energy story:
Top international energy story:
Top national non-energy story:
Top national energy story:
Top North Dakota non-energy story:
Top North Dakota energy story:
Geoff Simon's top North Dakota energy stories:
Bakken economy: North Dakota's 1Q23 GDP growth: #1 in the nation.
Commentary:
Locator: 45932ECON.
Market today, about an hour before the close:
WTI: trading at $73.86!
For those surprised
by this turn of events, I'll explain this later. Two things happened
early this morning. A reader predicted this earlier this week.
Disclaimer: this is not an investment
site. Do not make any investment, financial, job, career, travel, or
relationship decisions based on what you read here or think you may have
read here.
All my posts are done quickly:
there will be content and typographical errors. If anything on any of
my posts is important to you, go to the source. If/when I find
typographical / content errors, I will correct them.
Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.
And then we have this article, link here:
So, a Yahoo!Finance editor is buying $120-tennis shoes, and I'm buying $50-DVN, well off its highs. The kids will get a few more shares of Devon.
I doubt if the tennis shoes will mean much 3 years from now, much less 30 years from now.
Locator: 45931ECON.
1Q23 GDP growth and personal income growth by state.
Personal income: Nebraska, 11.1, beat North Dakota, 11.0, because Warren Buffett resides in Omaha, NE.
FRED: link here.
Back-of-the envelope:
GDP per capita, link here.
Construction spending per capita:
With numbers like these, I have no idea why North Dakota still has a state income tax. Texas has not state income tax, just saying.
Locator: 45930B.
WTI: just shy of $74. Range between $73.50 and $73.90.
Active rigs: 36.
Three new permits, #40024 - #40026, inclusive:
Two permits canceled:
Ten wells temporarily abandoned well plugged:
Locator: 45929GRID.
This will be the feature story today. This was. posted earlier. Background is down below, keep scrolling.
ISO NE: spot prices jump to $2,700 / MWh while cooking dinner. It appears "briefly" is defined as less than four hours in New England.
When you absolutely, positively need electricity --- go with diesel ... or Russian crude oil as they do in New England.
I can't make this stuff up.
Blame it on Canada.
***************************
Background
Pending.
Links here.
It's always interesting to see how faux environmentalists fail to show how expensive electricity becomes when the grid comes close to failing due to lack of wind or sun. LOL.
By the way, how's that solar energy going to work out when the Biden administration blocks the sun's rays from reaching the US?
LOL.
I can't make this stuff up.
Screenshots from the links:
And here's the problem:
Brutal heat combined with a sudden shortfall in imported electricity caused the operators of New England’s power grid to fire up extra generators for a half hour on Wednesday, July 5, 2023.
The shortfall in electricity production versus demand, known as a capacity deficiency, began shortly after 6 p.m. as a “transmission equipment failure significantly reduced imported electricity coming to New England.” The six-state region can import or export electricity from New York, Quebec and New Brunswick as needed; details of the failure were not available Thursday
Demand for electricity production by power plants often spikes at around 6 p.m. on a summer weekday because people turn on air conditioning as they get home from work and the region’s solar production – which on a sunny afternoon now generates three times as much electricity as Seabrook Station nuclear plant – begins to wind down.
Locator: 45928INV.
WTI: trading at $73.86!
For those surprised by this turn of events, I'll explain this later. Two things happened early this morning. A reader predicted this earlier this week.
Here goes.
Disclaimer: this is not an investment
site. Do not make any investment, financial, job, career, travel, or
relationship decisions based on what you read here or think you may have
read here.
All my posts are done quickly:
there will be content and typographical errors. If anything on any of
my posts is important to you, go to the source. If/when I find
typographical / content errors, I will correct them.
Locator: 45927ARCH.
Wow, what a surprise.
This is going to be a great book.
To the grandchildren: never stop reading.
************************
Book Club
Again: The Story of the Jews, Volume 1, Finding the Words, 1000BC -- 1492 AD, Simon Schama, c. 2013. 909SCH.
Locator: 45926AUTOS.
Three from Reuters today:
************************
Movie Club
The movies that demand attention:
The movies:
************************
Book Club
Again: The Story of the Jews, Volume 1, Finding the Words, 1000BC -- 1492 AD, Simon Schama, c. 2013. 909SCH.
************************
Monthly Raffle
Rules:
Locator: 45924WTI.
We mentioned this on the blog yesterday. Here's the graphic:
WTI, today: $72.58.
Wall Street darling:
Locator: 45921WTI.
WTI; continues to struggle. Got through $70, but can't get past $72.
Word on the street, link here:
Locator: 45920GRID.
ISO NE: spot prices jump to $2,700 / MWh while cooking dinner. It appears "briefly" is defined as less than four hours in New England.
When you absolutely, positively need electricity --- go with diesel ... or Russian crude oil as they do in New England.
I can't make this stuff up.
Blame it on Canada.
***********************
Trippy Snow White
Max Fleischer's trippy version of "Snow White" from 1933 remains a fascinating and bizarre piece of animation history. In this short Betty Boop cartoon, Fleischer and his team condensed and twisted the classic Snow White tale, taking viewers on a surreal journey that defies expectations.
One of the standout moments in the cartoon is the inclusion of Cab Calloway, a renowned jazz singer of the time. In the middle of the animated film, Calloway appears and performs the hauntingly beautiful "St. James Infirmary Blues." The scene is a rare live-action segment, originally from another cartoon of the era titled "Minnie the Moocher," which was another iconic song associated with Calloway.
Interestingly, the footage and music used in the beginning of "Minnie the Moocher" are clearly the same recording as the song "St. James Infirmary Blues" featured in the Betty Boop cartoon. In a clever editing move, the two pieces of audio are seamlessly joined together, creating a seamless transition between the two cartoons.
Calloway's appearance in the cartoon is truly mesmerizing. He begins by singing the tune as Koko the Clown, a character created by Fleischer, and then undergoes a transformation into a ghostly figure. The animation beautifully captures Calloway's distinctive enunciation and signature dance moves, accompanied by a barrage of wild and imaginative visuals.
More at the link, including the video.
Locator: 45919CA.
Now, today, headline and feature story from The LA Times:
The NBC News article does not mention the bullet train, an inconvenient truth, and the writer seems to suggest this is a "once-in-a century" phenomenon. In fact, it happens on a regular basis.
Locator: 45918TECH.
Samsung: 2Q23 profits plunge 96% -- estimate.
China ban on metals: Peter Zeihan not concerned. Nor am I but EV manufacturers will blame China for their problems.
WTI; continues to struggle. Got through $70, but can't get past $72.
Rigs don't matter: EQT sets record. "18K in 48 hours."
************************
Back to the Bakken
WTI: $71.76.
Sunday, July 9, 2023: 56 for the month; 164 for the quarter, 419 for the year
39442, conf, Kraken, Orbit 24-13-12 5H,
39176, conf, CLR, Clyde Hauge 5-13H,
Saturday, July 8, 2023: 54 for the month; 162 for the quarter, 417 for the year
39441, conf, Kraken, Orbit 24-13-12 4H,
39178, conf, CLR, Clyde Hauge 6-13H,
RBN Energy: a decade after the "big bang," are RIN prices headed for a crash?
The Renewable Identification Number (RIN) has long served as the tool used to force renewable fuels like ethanol and soybean oil into the U.S. gasoline and diesel supply. A creation of the Renewable Fuel Standard (RFS), RINs act as a subsidy that enables the production of renewable fuels that would not otherwise be economically justified. RIN prices are set by the usual workings of supply and demand, but chatter has bubbled up recently in the renewable fuels ecosystem that prices for a particular variety of RIN could be headed for a crash. In today’s RBN blog, we explain what’s behind the talk about RIN prices.
