Saturday, August 3, 2024

Week 31: July 29, 2024 -- August 4, 2024

Locator: 48306TOPSTORIES.

Top story

  • huge hostage swap
  • Presidential politics: tt's Kamala Harris' race to lose; polls show she is far ahead nationally
    • she needs both Michigan and Pennsylvania to win
    • likely to pick PA governor for VP
  • Israel: has taken out several high-profile Hezbollah, Hamas leaders
    • Mideast on edge
    • WTI plummets
    • US Navy moving into Mideast

Biden:
  • looking stronger than ever; too late
    • huge hostage swap -- media suggests Biden was the godfather on this one

Top international non-energy story:

  • Olympics women's boxing has become a joke, Shakespearian tragedy
    • the end of women's boxing as we know it; will soon change venue to "transgender boxing)

Top international energy story:

Top national non-energy story:

  • US equity markets plummet
    • jobs report worse than expected
    • consensus: JPow and Fed waiting too long to make first cut
    • will now make larger cut than planned in September; but too little too late
  • Buffett sells half of his AAPL holdings
    • holds record amount of cash; of course, no explanation
      • by law, Buffett is required to hold large cash positions to "cover" insurance risks
      • hurricane season now in full force
      • preparing for recession?
      • building large cash position to take advantage of sell-off?
    • OXY, BNSF holdings look dismal
    • appears not to like tech

Top national energy story:

  • XOM-CVX-Hess drama to last at least two more years
  • WTI plummets
    • JPow, the Fed put US recession back on the table
    • most recent jobs report suggests US economy in deeper trouble than earlier data suggested
  • ISO-NE: declared Level 1 energy; grid not keeping up with demand
    • renewables providing very little support; overall -
      • renewables: 6%
      • wind: 24%

Focus on fracking: current link here. Generally updated late Sunday night.

Top North Dakota non-energy story:

Top North Dakota energy story:


Geoff Simon's quick connectslink here.

The market in a nutshell:

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