The Million Dollar Way (The Bakken Oil Blog): December 2024

Tuesday, December 3, 2024

Amazon's Home-Grown Chips -- Additionally, AWS Unveiled Apple As One Of Its Newest Chip Customers -- December 3, 2024

Locator: 44496AWS.

Could this be the most interesting investing ....

Tag: Apple, AAPL Supercomputer

Link here.

From the linked article:

Amazon’s cloud computing arm Amazon Web Services Tuesday announced plans for an “Ultracluster,” a massive AI supercomputer made up of hundreds of thousands of its homegrown Trainium chips, as well as a new server, the latest efforts by its AI chip design lab based in Austin, Texas.
The chip cluster will be used by the AI startup Anthropic, in which the retail and cloud-computing giant recently invested an additional $4 billion. The cluster, called Project Rainier, will be located in the U.S. When ready in 2025, it will be one of the largest in the world for training AI models, according to Dave Brown, Amazon Web Services’ vice president of compute and networking services.

Amazon Web Services also announced a new server called Ultraserver, made up of 64 of its own interconnected chips, at its annual re:Invent conference in Las Vegas Tuesday.

Additionally, AWS on Tuesday unveiled Apple as one of its newest chip customers.

Combined, Tuesday’s announcements underscore AWS’s commitment to Trainium, the in-house-designed silicon the company is positioning as a viable alternative to the graphics processing units, or GPUs, sold by chip giant Nvidia.

Is this why AAPL "surged" today -- well, at least "surged" a little today.

**********************************
Disclaimer
Brief Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
Longer version here.

Intel -- The Verge -- December 3, 2024

Locator: 44495INTEL.

What happened? Link to The Verge, December 3, 2024.

Tag: amazing story Paul Otellini Moore Gelsinger Andy Grove

On Monday, Intel CEO Pat Gelsinger abruptly decided to retire after less than four years on the job. That was the official story, anyhow. Within hours, Reuters, Bloomberg, and The New York Times had a different one: the board of directors pushed him out.

Three and a half years ago, Gelsinger announced an ambitious plan to turn around the troubled chipmaker within four years — now, he’s reportedly been kicked out of the company before he could see it through. It happened so abruptly that Intel doesn’t have a planned successor in mind, and so completely that Gelsinger won’t even stick around as an adviser. He’s gone.

Intel has been in a tailspin for years. It missed the smartphone revolution, has been plagued by quality control issues with its chips, lost customers like Apple to alternative processors, and now is at risk of missing out on AI, too.

The summer Intel fell behind, link here.

And going down that rabbit hole eventually takes one to a most interesting story at The Guardian, link here, from 2013!!!

Which then takes one to the interview at The Atlantic! Link here.

Fascinating, fascinating, fascinating.

WTI Jumps On Iranian Sanctions; OPEC Delay -- December 3, 2024

Locator: 44494B.

Tricare regional changes, link here.

Global warming:

Iran's energy shortage, link here:

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Back to the Bakken

WTI: jumps 2.7% today; up $1.84; trading at $69.94. On news that sanctions are hurting Iran, perhaps more than previously reported?

From Rigzone:

WTI: $69.96.

Active rigs: 36.

Five new permits, #41387 - #41391, inclusive:

Operators: Hess (3); Grayson Mill, Petro-Hunt
Fields: Ellsworth (McKenzie); Alger (Mountrail); East Tioga (Mountrail)
Comments:

Petro-Hunt has a permit for Jensen well SWSE 28-158-94,

to be sited 216 FSL and 1321 FEL;

Grayson Mill (Devon) has a permit for a Clifford Bakke well, NENW 26-155-92;

to be sited 386 FNL and 1849 FWL;

Hess has permits for two BW Barbar Ann wells and one BW Sharen Lynor well, NWNE 20-149-100;

to be sited 470 FNL and at the following distances FEL: 2636, 2603, and 2537.

Two permits renewed:

Formentera Operations, two FLX4 wells, Burke County.

Five producing wells (DUCs) reported as completed:

40489, 669, Oasis, Lee S 5201 21-8 3B, McKenzie County;
40494, 820, Oasis, Lee S 5201 21-5 6B, McKenzie County;
40499, 667, Oasis, Lee S 5201 21-8 2B, McKenzie County;
40500, 690, Oasis, Lee S 5201 21-8 4B, McKenzie County;
40501, 762, Oasis, Lee S 5201 21-8 5B, McKenzie County;

Change of operator: about 30 wells from Kaiser-Francis Company to Morningstar Operating; all in Stark County.

Apple (AAPL) Today -- December 3, 2024

Locator: 44493AAPL.

See disclaimer.

From October 18, 2024, link here:

Apple: "the Judge" has it exactly right. A lot of folks have been burned fighting the Apple story. Most notable: Carter Worth and Dan Nathan on "Fast Money," CNBC.

Today: second day in a row, 52-week high --

And, on "Fast Money" today, Nathan is bashing Apple again. LOL.

Amazon Update -- Anthropic -- December 3, 2024

Locator: 44492AMAZON.

Tag: Anthropic AI compute cluster

Link to The Verge.

**********************************
Disclaimer
Brief Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
Longer version here.

Markets Heading For Record Highs At The Close -- Ticker Update: AAPL, BRK-B, SNOW -- December 3, 2024

Locator: 44491INVESTING.

NASDAQ, S&P 500: trending for new record highs at the close.

Apple (AAPL): hitting a new 52-week high -- two days in a row -- just crossed over $242.

See this note.

Currently, one of the biggest drags on Sophia's portfolio:

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Inflation Watch: Rent

We live north of Ft Worth, to the west of the airport (DFW), and in a upper-middle class neighborhood in one of the nice apartment complexes in the area, just a couple of miles away from downtown Grapevine, the Texas destination for all things Christmas.

We've lived here for many, many years. The growth is amazing and yet I've never seen an offer like this in all these years:

**********************************
Disclaimer
Brief Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
Longer version here.

The Day The Music Died -- This Can't Be Good News For Summit -- December 3, 2024

Locator: 44490CCS.

Link here.

Wolf Carbon Solutions is withdrawing its petition to build a 95-mile carbon capture pipeline through eastern Iowa, according to a filing Monday with the Iowa Utilities Commission.

Wolf planned to capture carbon dioxide emissions at Archer Daniel Midland Co. ethanol plants in Cedar Rapids and Clinton, liquefy it under pressure and transport it to Illinois to be sequestered deep underground.

It’s unclear whether the Colorado-based company will reapply, saying in the filing it would “make a determination” once “more certainty exists concerning its plans to proceed.” The company, working in partnership with ADM on the project, didn't immediately respond to a request for comment Monday.
It’s the second company to withdraw its petition to build a carbon capture pipeline. Last year, Navigator CO2 Ventures permanently withdrew its plans to build a $3.5 billion carbon capture pipeline after running into regulatory and legislative challenges in Iowa, South Dakota and elsewhere.

Update on Summit -- link here, December 3, 2024:

In contrast, Summit Carbon Solutions is progressing with its $8 billion carbon capture pipeline project across Iowa and four other states. The company, now collaborating with ethanol producers who had previously partnered with Navigator CO2 Ventures, secured regulatory approval for its Iowa pipeline in June and received the green light from North Dakota regulators last month.

Photo Op -- December 3, 2024

Locator: 44489TRUMP.

Love him or hate him. There are going to be a lot of photo ops these next four years.

Think of something else more exciting than visiting Notre Dame on the day of its grand opening, just at the start of the Christmas season.

President-elect Trump will be at the grand opening this weekend.

My hunch: huge coverage.

Speaking of which: has anyone seen any coverage of Biden's trip to Angola? Apparently he arrived yesterday.

Cramer's First Hour, Part 4 -- December 3, 2024

Locator: 44488CRAMER.

See disclaimer. Especially the part about typographical and content errors. My most common typographical error: "now" for "not" or vice versa. Example:

I am now investing.
I am not investing.

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.

ATT: surges. Up 3.5%. Later, up 4.5%.

Trump: against the "steel deal." US Steel Corp drops 7%. But the deal will close before January 20th -- up to Biden. David Faber on CNBC. Needs to be fact-checked. Everyone will sue everyone if the deal is blocked.

IRA conversion: I've covered this numerous times -- maybe not on this blog, but elsewhere -- regardless.

A lot of folks are missing the big story. Traditional IRAs were first offered in 1974. My first "real" paycheck was 1977 and I began investing that year (or shortly thereafter) -- I forget the specifics -- and opened the first of several IRAs that year (or shortly thereafter). So, let's say 1980. Those IRAs have been growing tax-free for forty-four years. I haven't paid any tax on those investments for forty-year years. Now I'm required to withdraw about 4% from those accounts on which I will pay federal tax (no state tax) on the withdrawals.

Regardless of whether a Roth conversion makes sense or not, I'm simply blown away that my IRAs have been growing tax-free for 44 years, and now I owe federal taxes on 4% of their value (EOY, 2023). I just can't get too excited over these discussions about conversion. Know what will make a bigger difference than a conversion? Continued investing going forward.

Investing: active duty military and other federal employees (including US postal workers) can maximize IRAs (traditional and Roth), 401(k)s, TSPs, 529s, and a pension. Not tax-free, but if one has any money left over, then EFTs.

**********************************
Disclaimer
Brief Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
Longer version here.

Cramer's First Hour, Part 3 -- December 3, 2024

Locator: 44487CRAMER.

See disclaimer. Especially the part about typographical and content errors.

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.

The Trump revolution: will die as soon as soon as Mike Johnson and John Thune gavel the first sessions to order. But we can dream, can't we?

My favorite things: maybe it's time to emulate Whoopi Goldberg and Oprah Winfrey with "my favorite things" for this holiday buying season .... LOL. If so, let's start with a camera.

W. B. Yeats: re-posting. The other day -- I guess it was yesterday -- a reader said he/she had difficulty putting a comment on my site -- yes, I pretty much quit with the comments -- too much negativity -- comments seldom moved the conversation constructively along -- I post at least 50 "line items" daily; at least three major blogs each day; and folks will comment on one data point that I posted. Along that line, I've even quit reading letters to The New Yorker editor; they so seldom add anything to the discussion but I digress.

There are exceptions -- like a great note from a reader yesterday -- so don't take this out of context. And I can't thank a reader enough for mentioning AVGO to Sophia and to me two years ago.
The blog is now my life; I live and breathe the blog. To know me is to know my blog; to know my blog is to know me. W. B. Yeats said it better:

Depression: I can't put my finger on it, but I sense I'm about ready to experience a pretty significant depression. Memo to myself. This, too, shall pass.

**********************************
Disclaimer
Brief Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
Longer version here.

Cramer's First Hour, Part 2 -- December 3, 2024

Locator: 44486CRAMER.

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.

Trump: best suggestion so far this week -- Canada, not Puerto Rico -- should become the 51st state. Maybe just western Canada -- annex it to Alaska, excluding a bit of British Columbia.

Market: I think I heard "the market" was up 20% two years ago; will be up 29% this year -- all that talk about a recession? And now, GDP with a 3-handle, an incredible jobs story (in the US) and the Fed is still thinking about another cut. Even Jim Cramer says "no" to that.

Sophia's investing: hit some major milestones this year.

Next big thing: no, not really. This is not the "next big thing." It's been around for quite some time. Subscriptions. Mark Rober. YouTube. Years ago, I suggested Apple needs to get into the subscription model with regard its hardware. Haven't seen it yet. Still hoping. Would be I put $100 / month into Apple for an Apple subscription for an iPhone upgrade every year and a laptop upgrade every two years. I think so.

Art Cashin: finally, CNBC is getting around to "remembering" this icon. Eighty-three years old. Wow, I never noticed this before. The Squawk Box folks now have two -- count 'em -- two laptops in front of each of the taking heads. Amazing. Too bad they're not using the best, but again, CNBC is part of the Microsoft universe.

Intel: I've never seen such a negative review / interview as this one on CNBC this morning on Intel. Absolutely amazing. Again, I will try to find the link later today, but will probably forget.

No Green No More: GM pulling out of EV initiative in Michigan. Huge, huge story. This story is just part of a much bigger story. Even Kernan was amazed. GM getting out of the battery business completely. No matter how Mary Barra spins it, this is a huge story.

Tech: just one of many examples. There are two camps --

the AI revolution is all hype (pretty much the line "Fast Money" has taken)
the AI revolution is real.
I'm in the second camp.
I just cringe when I think of all the "things" I missed the past two years. But then again, slow and steady and I have no real concerns. Buffett's first law: don't lose money. Buffett's second law should have been: don't leave money on the table. AAPL. SNOW.

Exhibit A: CRDO -- up 230% this year, and will surge at the open today --

today:

year-to-date:

**********************************
Disclaimer
Brief Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
Longer version here.

Cramer's First Hour, Part 1 -- December 3, 2024

Locator: 44485CRAMER.

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.

Thanksgiving travel:

United Airlines, incredible. I will try to find the CNBC interview later. This is simply amazing. The numbers being reported for Sunday after Thanksgiving are simply staggering.

Airbus.

Pre-market: both AAPL and NVDA hold gains from yesterday.

Peter Zeihan today: no shale oil for Europe -- we've known this for two decades --

ATT.

ISONE: now $215. Link here. Again, $215. And using more coal than wind.

The election: it was not "turnout" that doomed Kamala. It was the message. The New York Times. Link here. From the essay:

During the campaign, The New York Times and Siena College polled many of these voters. After the election, we analyzed election records to see who did and didn’t vote. The results suggest that higher turnout wouldn’t have been an enormous help to Harris.

That may be surprising. It’s not usually how people think about turnout. Typically, turnout and party-switching are imagined as independent. After all, millions of voters are all but sure to vote for one party, and the only question is whether they’ll vote. In lower-turnout midterms and special elections, turnout can be the whole ballgame.

But in a presidential election, turnout and persuasion often go hand in hand. The voters who may or may not show up are different from the rest of the electorate. They’re less ideological. They’re less likely to be partisans, even if they’re registered with a party. They’re less likely to have deep views on the issues. They don’t get their news from traditional media.

Throughout the race, polls found that Trump’s strength was concentrated among these voters. Many were registered Democrats or Biden voters four years ago. But they weren’t acting like Democrats in 2024. They were more concerned by pocketbook issues than democracy or abortion rights. If they decided to vote, many said they would back Trump.

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Recipes: Meatloaf

Once Thanksgiving leftovers are gone, homemade meatloaf?

**********************************
Disclaimer
Brief Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
Longer version here.

Taco Tuesday -- December 3, 2024

Locator: 44484B.

Morning Joe: biggest political story of the year, and Morning Joe still refuses to cover it. Wow. Cold open today with list of stories they will be covering in the first hour, and the pardon is not even mentioned in passing.

Meanwhile, the pardon is the story. Exhibit A: the front page of The New York Times.

So, we move over to CNBC, another streaming network (along with MSNBC) that Comcast will spin off.

Posting: I will try to post political stuff to another blog today; avoid posting on themilliondollarway. Including The New York Times newsletter today. Unlike Morning Joe, The New Yorks (and everyone else) is covering The Pardon:

From "The View":

Bottom line: this will not age well. Hunter will fade into the background, never to be heard from again, a mere footnote in a Biden biography. But this is Biden's legacy, sandwiched between two Trump presidencies who got out of the race too late when he said he would be a transition president and then, in one of his last official acts as president, pardoned his son after denying for four years he would do that (pardon his son). And worse, it opens the door for Trump pardons. And unlike Biden, Trump won't wait for the end of his term to start issuing his pardons. Again, I'm not saying this was not the fatherly thing to do; I'm just saying that it won't age well. It again raises an interesting question: does "doing a moral thing," make it right. Wow.

SpaceX: considering tender offer of roughly $350 billion.

ISO-NE: $180 this morning. Link here. Let that sink in for awhile. $180. Wind, 1.16%; coal, 2%; solar, 0%. nuclear, 23%, net imports, 20%. Texas (ERCOT): no imports as far as I know. Could be wrong. Wind? Huge component.

Bluesky not reporting but X is, link here. Syria update, with map, link here.

Bluesky not reporting but X is, link here. 51st state: Trump, 1; Trudeau, 0 --

Linked earlier, mentioned earlier, not sure if I ever posted this:

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Back to the Bakken

WTI: $68.69.

Wednesday, December 4, 2024: 9 for the month; 113 for the quarter, 644 for the year

40759, conf, Slawson Explortation, Fish Finder 5-21-9H,
39747, conf, Hess, RS-F Nelson-156-92-2413H-2
39590, conf, Grayson Mill, Niles 19-22F 4H,
39589, conf, Grayson Mill, Niles 19-22F 3H,
39588, conf, Grayson Mill, Niles 19-22F 2H,
33973, conf, Enerplus, Titanium 147-93-16A-21H,

Tuesday, December 3, 2024: 3 for the month; 107 for the quarter, 638 for the year

39750, conf, Hess, RS-F Nelson-156-91-2413H-5,

RBN Energy: with power deman on the rise, could new nuclear units be added to old coal sites?

Soaring demand for around-the-clock electricity, tied to the development of large-scale data centers, has sparked a renewed interest in carbon-free nuclear power. Given that conventional nuclear plants can be very challenging to site and permit, there’s been a lot of talk about installing small modular reactors (SMRs) at the sites of coal-fired power plants that have been taken offline for environmental and economic reasons but still have critical connections to the power grid and other infrastructure.

Monday, December 2, 2024

First Day Of The Last Month Of The Fourth Quarter Of The Year -- December 2, 2024

Locator: 44483B.

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Back to the Bakken

WTI: $68.14.

Active rigs: 37.

Three new permits, #41384 - #41386, inclusive:

Operator: Hess
Field: New Home (Williams)
Comments:

Hess has permits for three GN-Stundal wells, SWSE 7-158-97,

to be sited 2069 / 2070 FEL and at the following distances FSL: 633; 600; and, 567.

Nine wells approved for confidential status.

Eighteen wells released from confidential status.

Four producing wells (DUCs) reported as completed:

40319, 338, Kraken, Maddie 10-15-22 3H, Williams County;
40382, 320, Kraken, Maddie 10-15-22 4H, Williams County;
40383, 525, Kraken, Maddie 10-15-22 5H, Williams County;
40384, 514, Kraken, Wayne 11-14-23 23H, Williams County;

Compare And Contrast --- Operation Breakout -- Apple -- December 2, 2024

Locator: 44482AAPL.

Market cap at close:

AAPL: $3.59 trillion.
NVDA: $3.36 trillion.

From earlier today, link here. See disclaimer.

Tag: Apple, Berkshire, Buffett, Tim Cook, Steve Jobs.

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AAPL vs BRK-B

Three months:

Six months:

Year-to-date:

Five years:

Max:

One is widely held and universally loved.

The other is widely held and generally universally hated.

I find the three-month chart the most interesting and perhaps the most instructive.

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Operation Breakout

Link here. I know nothing about Operation Breakout. This is first I've heard of this Apple initiative. It shows the value of "never quit reading."

TLMWR (too long, most won't read): hopefully this is not behind a paywall and folks can access it. It was written in 2022 and so much of it may have changed, but it provides an insight (or insights) into how "Apple" thinks. Link here. I don't know if it's an easy read. I know I am having to read it several times to catch the nuances. I will eventually download the entire article for personal use but will quote liberally from the article. But that is awhile from now.

What makes this all so important: Apple doesn't want to be the next Intel.

**********************************
Disclaimer
Brief Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
Longer version here.

Cramer's First Hour, Part 1 -- December 2, 2024

Locator: 44481CRAMER.

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.

Gelsinger: is out. Intel (INTC) is up. Can't remember what I blogged about Gelsinger but all I can say now is this: "about time."

perhaps the worse "over-promiser / under-deliverer" of any CEO Cramer has seen;
over five years: INTC dropped 60% in value
a "balance sheet" issue --

Cramer says Intel needs someone who knows the difference between a stock and a bond -- apparently the "balance sheet" is a mess; prior to Gelsinger, the balance sheet was said to be "pristine."

doesn't solve Intel's problem
under Gelsinger, INTC was dropped from the Dow and replaced by NVDA (very recently)

From last year: link here to The WSJ:

Lesson learned: never quit reading. Beware talking heads on CNBC.

Does government deficit spending cause inflation? No. Exhibit A -- Bitcoin (supply and demand; mojo; greed).

other exhibits

used cars,
eggs,
housing

Populism: Trump is a populist.

It's interesting to hear all the talking heads pushing back ideas that would benefit the consumer -- generally populist ideas. Trump is trying to improve things for the average American, and the elitist media is pushing back on this. Now that Trump is advocating for them -- like lower gasoline prices; no taxes on social security; cap on credit card rates.

AAPL: this is quite a surprise. AAPL just turned green in pre-market trading.

US equity markets: slightly negative all night are now turning green, but still not much change since Friday's record close.

Over the past year, RIVN actually doing better than STLA. Past six months, Stellantis:

**********************************
Disclaimer
Brief Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
Longer version here.

WTI Holds Above $68 -- December 2, 2024

Locator: 44481B.

Tag: MMF, Germany, EVS, Stellantis (STLA)

Pardon: Reddit readers absolutely shocked / aghast / angry about this new development. Reddit stopped all new comments.

Talk television: since "Morning Joe" wanted to void the pardon issue correctly, it will be interesting to see what Whoopi has to say on "The View."

Without comment for now, but in the news today:

Stellantis: CEO steps down; what sealed his fate.
Germany

Germany: deindustrialization; getting worse.
Germany: Volkswagen workers stage "warning" strikes.
Germany - France: energy. Fading wind prompts Germany to fire up dirty oil and gas plants; buy electricity from France.

Kamala disappears: where she spent Thanksgiving vacation.
LNG: the next four years will be all about natural gas. Alex Kimani.
JK Rowling: might have just won the culture war.
EVs:

EVs: in The New York Times -- best headline ever -- "Automakers to Trump: please require us to sell electric vehicles."

auto manufacturers have spent so much money on EV infrastructure, they can't afford to write it off;
and, 1.1 million auto workers (AKA voters) directly involved in EV production and marketing

EVs: cost of recharging in Britain!

Assad: crumbling?

Tech:

Windows-based AI PCs took 53% share in the quarter. Beth.

Money:

MMF: assets increase by $26.77 billion to $6.68 trillion for the six-day period ended Tuesday, November 26, 2024

***********************************
Back to the Bakken

WTI: $68.76.

Tuesday, December 3, 2024: 3 for the month; 107 for the quarter, 638 for the year

39750, conf, Hess, RS-F Nelson-156-91-2413H-5,

Monday, December 2, 2024: 2 for the month; 106 for the quarter, 637 for the year

40106, conf, Enerplus, Devils Canyon 147-97--17-20-7H,

Sunday, December 1, 2024: 1 for the month; 105 for the quarter, 636 for the year

39749, conf, Hess, RS-F Nelson-156-91-2413H-4,

Saturday, November 30, 2024: 58 for the month;104 for the quarter, 635 for the year

40670, conf, CLR Carpenter 2-13H,
40665, conf, CLR, Sandhill 7-24HSL,
40661, conf, CLR, Sandhill 2-24H,
40107, conf, Enerplus, Devils Canyon 147-97-17-20-8H,
39858, conf, Hess, EN-Charles-Wood-157-94-1720H-5,

RBN Energy: more M&A, divestitures and swaps as E&Ps and midstreamers fine-tune portfolios.

Even with all the headline-making deals we’ve seen in the North American oil and gas industry over the past two or three years, producers and midstream companies are still at it.

And the M&A, the post-acquisition divestitures and the acreage swaps aren’t confined to the Permian, which has seen more than its share of big-dollar transactions lately. In fact, as we discuss in today’s RBN blog, some of the biggest deals the past few months have involved production assets in the booming Montney in Western Canada, the generally sleepy Piceance in western Colorado, the quirky-as-heck Uinta in Utah, and — on the midstream side of things — a trio of natural gas pipelines in the Midwest.

Sunday, December 1, 2024

Economic Times -- The Decision Marks A Reversal For Biden -- This Could Be Biden's Legacy -- First President To Pardon His Son -- Gun Charges, Tax Evasion -- Shocking Reversal -- December 1, 2024

Locator: 44480PARDON.

Updates

From The Atlantic, link here.

The lede:

President Joe Biden’s pardon of his son Hunter is a done deal. The president has not only obviated the existing cases against Hunter; the sweep of the pardon effectively immunizes his son against prosecution for all federal crimes he may have committed over the course of more than a decade. This pardon is a terrible idea—“both dishonorable and unwise,” in the words of the Bulwark editor Jonathan Last—and, as my colleague Jonathan Chait wrote yesterday, it reflected Biden’s choice “to prioritize his own feelings over the defense of his country.

”But it was also a tremendous strategic blunder, one that will haunt Democrats as they head into the first years of another Trump administration.

The Constitution vests American presidents with the power to pardon anyone for crimes against the United States. (They cannot pardon people for offenses at the state level.) Usually, such pardons involve clemency for ordinary criminals; occasionally, they include distasteful personal or political favors to friends, allies, and in rarer cases, family. Donald Trump, however, has promised to start the process of issuing deeply controversial pardons the minute he gets into office.

Perhaps most disturbing, he has said he’s going to start reviewing cases of the January 6 insurrectionists—whom he has called “warriors” and “hostages”—and to let many of them out of prison. Nothing will stop Trump from doing such things, nor will he pay any political price for such future pardons: All he ever cared about was winning the White House to stay out of jail, and he’s accomplished that mission.

But the Republican Party is now a wholly owned subsidiary of Trump World, and had Biden not pardoned his son, elected Republicans at every level would have had to answer for Trump’s actions without reference to the Bidens. They would have had to say, on the record, whether they agreed with Trump letting people who stormed the Capitol and assaulted law-enforcement officers out of jail. Although Trump would have remained beyond the reach of the voters, the vulnerable Republicans running for reelection might have pleaded with him to avoid some of the more potentially disgusting pardons.

Original Post

So, this is how it ends?

Link here.