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Friday, January 5, 2024

Week 1: January 1, 2024 -- January 7, 2024

Locator46467TOPSTORIES. 

Top, top story

  • the earth hangs in the balance (John Kerry, Algore, Greta) but for Biden, geopolitics more important
    • Biden won't allow tax credits for EV autos with Chinese batteries
    • "For want of a rider, the battle was lost. For want of a battle, the kingdom was lost. And all for the want of a horseshoe nail."

Top story

  • regional "wars" everywhere: Gaza, Red Sea, Indian Ocean, Ukraine
  • all are in somewhat off a "steady state" situation

Top international non-energy story:

  • Gaza: Israel shows no sign of letting up
  • Ukraine: not looking good for the home team
Top international energy story:
  • OPEC+ no longer in control
  • US producing at record levels
  • Venezuela about to flood the global markets with oil
  • Germany: de-industrializing due to high-priced energy (natural gas and electricity)

Top national non-energy story:

  • US equity markets snap nine-week "winning" streak
  • US economy surprisingly strong; consumer surprisingly resilient
  • auto sector: best year for the industry since 2019;
  • November jobs: unexpected and higher
    • higher than forecast
    • unemployment remains unchanged

Top national energy story:

  • US LNG:
    • US: #1 global exports
    • Qatar falls to #2
  • US crude oil
    • field production at record levels
    • blowing Saudi away
  • three consecutive months > 13 million bopd
  • two different offshore wind projects in the news this past week
    • huge offshore wind project off east coast of US scrapped by developers (Equinor, BP)
    • first wind turbine of new offshore wind project off Martha's Vineyard up and running, providing 5MW of electricity; 

Focus on fracking: link here.

Top North Dakota non-energy story:

Top North Dakota energy story:

Geoff Simon's  quick connects: link here.

Bakken economy

  • plugging along;
  • the buzz? Risks of NG takeaway capacity in the New Year!
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