Locator: 48563B.
GDPNow, link here. This is interesting.
Politics: Drudge banner as good as it gets.
Debate: I was really looking forward to the debate. It might have been the first debate -- ever -- that I actually wanted to see.
I watched one minute of Kamala's introductory statement -- about her family history -- and turned off the iPad. Barron's says that the first four minutes determined the outcome of the debate. I checked back in at about the one-hour mark; Trump was speaking -- talking about a 20% sales tax or something to that effect. After less than a minute I turned off the iPad again. It will be interesting to see the "Nielsen" numbers today.
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Back to the Bakken
WTI: $67.23.
Thursday, September 12, 2024: 32 for the month; 160 for the quarter, 484 for the year
39932, conf, Hess, RS-Feldman-156-92-1423H-3,
39931, conf, Hess, RS-Juma-156-92-1131H-4,
40515, conf, CLR, Hartman 12-28H,
40325, conf, Petro-Hunt, Zabolotny 144-98-9C-4-3H,
40148, conf, KODA Resources, Amber 1402-3BH,
RBN Energy: navigating the surplus in US LPG and ethane production.
Since 2011, U.S. natural gas liquids (NGL) production has more than tripled, while domestic demand has grown only modestly. Consequently, the only way NGL markets could balance was a dramatic increase in exports. Today, over 70% of U.S. propane production is exported, with the majority going to overseas markets, while other NGLs see varying export levels: 40% for butanes, 25% for natural gasoline, and 18% for ethane. Although U.S. NGL production growth is slowing, we still project an increase of 1.5 MMb/d over the next decade and a half, with 85% of that growth coming from the Permian Basin. As U.S. ethane and LPG production continues to rise, nearly all the export growth is expected to head to the Asia/Pacific region, with a significant portion going to one country: China. But is this outlook for U.S. NGLs realistic? And do we have adequate infrastructure — ranging from gathering systems to processing plants and fractionators, and from export terminals to the right kind of ships — to handle all of these volumes? In one of his hit tunes, Toby Keith clearly identified the problem for us: “Where You Gonna Go? And What Ya Gonna Do When You Get There?” These are key NGL market themes that we'll be exploring at our upcoming NACON conference on October 24 at the Royal Sonesta Hotel in Houston and that we’ll introduce in today’s RBN blog.
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