Wow! Gasoline Demand Is Surging Despite Price Increase -- Leading Indicator For US Economy -- March 22, 2024

Locator: 46827B.

RBN Energy: excellent, excellent article today. Cheniere, et al, were frantically building LNG export terminals based on future expectations of $10-LNG. Looks like they're going to be facing $2-LNG for many years. Perhaps "the Biden pause" was exactly what Cheniere, et al, needed, to save themselves from ... themselves.

WTI: $81.00. One step forward; two steps back. Never quits. Speaking of which, what was gasoline demand last week? Wow!

Sunday, March 24, 2024: 127 for the month; 186 for the quarter, 186 for the year

• 40171, conf, Morgan E&P, Obrigewitch 1-33H,
• 40110, conf, CLR, Lundberg Federal 4-8H,
• 39644, conf, Oasis, Maridoe 5502 11-17 2B, Squires, nice-looking well for the Squires oil field:

Date	Oil Runs	MCF Sold
1-2024	23979	18458
12-2023	29425	20296
11-2023	22588	14704
10-2023	30545	19907
9-2023	4068	2863

Saturday, March 23, 2024: 124 for the month; 183 for the quarter, 183 for the year

• 40109, conf, CLR, Lundberg Federal 3-8H1, Rattlesnake Point,
  

Friday, March 22, 2024: 123 for the month; 182 for the quarter, 182 for the year

• 39645, conf, Oasis, Maridoe 5502 11-17 3B, Squires, no data yet;

RBN Energy: is the global LNG market headed for oversupply and lower prices? Archived.

Listen to Paul Simon’s “The Sound of Silence” and you hear the words of a teenager coming to terms with the disconnect between the world his parents promised and the real world yet to come. In the LNG market, there’s a similar generational divide. A business built on long-term contracts, rigid trade patterns, and the promise of substantial growth potential is being met with a more skeptical outlook, one in which a large amount of incremental LNG supply has been locked up but serious questions remain about LNG demand. As we discuss in today’s RBN blog, an entire generation of LNG supply is being built on the presumption of selling it for $10/MMBtu or more, but a shortfall in demand growth could leave it selling for considerably less. And if that happens … sunk-cost economics, here we come.