Locator: 48489B.
What to watch for today? A burning bush. JPow scheduled to talk. Steve Liesman will carve the statements into a stone tablet and bring it down from the Wyoming mountains.
"Laid-Back" in North Dakota! Wow, I love that state. If I have time, I'll expand on this, but I think folks in North Dakota know what I'm talking about. LOL.
Seasonal flu: seasonal flu numbers continue to drop; link here. Flu season is still not here. Whoo-hoo. Speaking of which, hurricane season?
Hurricane season: link here. From earlier this year:
Top story, locally: Chicken N Pickle opened in our neighborhood about two years ago; probably the biggest "rec center" that ever opened in north Texas (other than theme parks, of course). Often, on weekends, despite the huge parking lot and huge footprint, it's very difficult to find parking.
Today, we learned that the "rec center" will expand significantly, adding eight more indoor pickleball courts. Truly amazing.
Texans take their sports seriously.
I do know to what extent this is accurate / true, but through the grapevine (pun intended), it's been said that this particular Chicken N Pickle is one of more successful CNP franchises. Corroborating that "rumor," CNP will be sending several members of it team -- servers and hostesses -- out to Las Vegas for a week or so to train servers and hostesses out there, in the new CNP that is soon to open (or maybe it's already opened).
CNP has a reputation for team-building, working to keep their staff, minimizing turnover and expenses associated with training.
Pre-market: looking good. Whoo-hoo!
Corporate giving:
- 2024 election spending -- corporate contributions
- crypto accounts for 48% of all corporate contributions
- crypto easily exceeds that of Big Oil and banking sector
- Koch Industries? A distant -- distant -- second
Investing: with the current volatility, one must remember that historically, the months of August and September tend to be the "worst" months of the year for the market.
WTI: historical price --
ERCOT: this is absolutely amazing.
A state where renewable energy has worked! If one doesn't mind paying the increased cost, though even that's not as bad as some folks make it out to be be. Whether it's good, bad, or indifferent is in the eye of the beholder. I no longer have any opinion on that. I'm just amazed things are working as wells as they are considering.
Texas electricity demand has hit new records due to typical August heat. Per capita, folks aren't using more electricity, demand is rising simply because the state is growing incredibly fast -- but despite that surge in demand, there have been no reports of ERCOT failing to meet demand.
Look at all the conventional fuel that was phased out and replaced by wind and solar, link here:
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Back to the Bakken Daily Morning Report
WTI: $73.82.
Sunday, August 25, 2024: 60 for the month; 116 for the quarter, 442 for the year
40349, conf, Stephens Williston, Greenbrier 15591-0211-4H,
39853, conf, Enerplus, Jade 148-95-4A-9H-LL,
39255, conf, Hess, SC-4WX-153-98-3130H-7
Saturday, August 24, 2024: 57 for the month; 113 for the quarter, 439 for the year
40394, conf, WPX, Missouri River 25-26HUL,
RBN Energy: Texas turns to performance credit mechanism to boost ERCOT reliability. Archived.
In Texas, rising power demand, increasing dependence on variable-output renewables, and declining availability of dispatchable fossil-fired plants to back up wind and solar have left the Electric Reliability Council of Texas (ERCOT) power grid in a pickle. As part of its response, the Public Utility Commission of Texas (PUCT) adopted a tool called the Performance Credit Mechanism (PCM) to help ensure the grid will be able to meet a yet-to-be-defined reliability standard. But while key metrics for the PCM have been identified, the details will determine which dispatchable resources will be supported with additional revenue, how much the whole approach will cost, and how effective it might be. In today’s RBN blog, we explore the debate ahead of the PUCT’s August 29 meeting — where it is expected to finalize rules around the PCM — and explore the difficulty of compensating generators annually so that they are also there for those once-in-10-year events.
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