Locator: 48039B.
The EOG Austin wells are tracked here, but they haven't been updated for years.
There are 139 EOG Austin permits. Some of them are PNC.
Now, note this well in today's daily activity report:
The maps:
Locator: 48038B.
Apple store: I had the opportunity to stop by the Apple Store in Southlake, Texas, this afternoon. All I can say is "wow." Their lineup looks really, really good. And people were buying. Most surprising, the iPhone 15:
By the way, did you all see this, link here? What's up with this?
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Back to the Bakken
Active rigs: 39.
WTI: $80.83.
Eight new permits, #40873 - #40874, inclusive;
Three permits renewed:
Two producing wells (DUCs) reported as completed:
Locator: 48037EVS.
Tag: tipping point.
Updates
Later, 4:38 p.m. CDT: Solaredge plummets today -- drops 21% today; almost 90% over past year --
Later, 3:24 p.m. CDT: and then we have this, noted after the VW-Rivian story below -- link here.
This story was posted mid-day today -- didn't do a thing for F's stock price. The losses must have been huge for Ford to do this abruptly. Or so it seems. I imagine the boardroom becomes a bit animated when the subject / agenda moves on to EVs. Even the Biden administration is no longer talking about EVs -- in the final months of the presidential campaign. Link here to the Argus Media story.
Later, 3:18 p.m. CDT: Volkswagen thinks different. Just announced. VW takes a $1 billion stake in Rivian. For the moment, the cash infusion likely saves Rivian from an alternative outcome. I have no idea what VW gains from this deal. It's not as if Rivian is doing something VW can't do, and it's not as if Rivian has a global dealer network selling EVs. My hunch: VW needs Rivian to meet California EV standards due to go into effect in 2035 or thereabouts. Sort of like buying forest land to pay for carbon credits. Rivian is nowhere near making a profit, according to Phil Lebeau, June 25, 2024.
Original Post
The natural progression of "things" -- the "S-shaped curve."
Early adopters --> tipping point --> exponential growth --> general acceptance and sustainability.
Tesla Model S was in mass production in 2012. By then end of the decade, 2022, EVs should have taken hold and been in their "exponential growth stage."
That did not happen, but even more concerning: the all-important "tipping point" was never reached.
It's hard to define a "tipping point" but in the case of EVs, I would argue that the tipping point is when consumers are clamoring for better infrastructure to meet their needs, and either the private sector responds, or the Federal government goes "Manhattan Project" for EV infrastructure.
I've seen no headlines in the past year or so about EV infrastructure, i.e., charging stations, which suggests there are more than enough charging stations for EV consumers. Which means that that tipping point for EV acceptance in the US has not materialized. And without reaching a tipping point, one will never see exponential growth.
By the way, has anyone seen any mega-EV-charging stations -- the kind that Pilot Flying J or Buc-ee's might build? Nope. None. Zilch. Nada.
Investors put their money where they will see a return, and it's not EVs. Or charging stations. Right now, it's Nvidia blades and humongous data centers.
But there's more to the story. Could the classic "S-shaped curve" be replaced by a hockey stick, and not in a good way?
Tesla seems to be on a treadmill -- on that part of "S-shaped curve" that is flat, really flat. The hockey stick: nah, folks argue, it couldn't happen that fast.
Hold that thought.
First, does the Cybertruck have a future? Will it simply fade away? Seriously, who is buying a Cybertruck? Certainly not contractors, unless they have a need to get from zero to sixty in just 2.6 seconds. Acceleration when red goes to green at the intersection doesn't seem to be the focus home builders these days. Certainly not in Texas.
I've thought about this for the past six months, wondering whether the curve could become a reverse hockey stick, and then today, this story.
The writer clearly does not "get it." He does not get the fact that Americans don't want EVs, something we've discussed for quite some time. How do we know (that he doesn't "get it")?
Because of the questions he asked:
As we face the death of Fisker, it seems worth asking: Was its sole product ever really worth a damn? Did it have the potential to be a contender? Was this a fundamentally decent car plagued by bad decisions/management/quality? Or was it fundamentally flawed? Might Fisker have succeeded if they sold the cars with the latest software update and promised features from the start?
LOL. Latest software update; promised features?
This writer didn't even talk about cost / price. $50,000. And Fisker was considered "moderate" in price.
But the real problem: Americans don't want to be tethered and they don't like batteries.
Anyway, enough for now.
By the way, EVs came up very, very, very briefly on CNBC's "Half-Time Report" when Tesla was very, very briefly mentioned. The analyst soundbite: ".... sure, maybe someday ... but no time soon .. look up 'dead money’ in Funk and Wagnalls and you will see a photo of a Fisker parked in front of the NYSE."
Not exact comment; paraphrased.
Locator: 48035NBA.
Sports: now that the NHL season is over, Florida having won the Stanley Cup in the 7th game, let's get back to the NBA championship.
Has the NBA championship series begun? After all, it's June and by June we should be reading and/or talking about the NBA championship. Oh, I just checked. The Boston Celtics won the series in five games -- their 18th championship -- about a week ago. Completely missed it. A player on the Boston team won the MVP award. By the way, who did Boston play?
One city isn't even mentioned in the headlines above, and the #2 team is mentioned only twice, easy to miss.
"Boston" is mentioned three out of four times in the headlines above. That's the difference between the Dallas Cowboys and the NBA. On Sports Talk TV and Radio, the Dallas Cowboys? 24/7. All Dallas all the time. Jerry Jones talks a good game. He says he's focused on winning a championship. In fact, he's focused on making money.
Quick: who won the 1998 Super Bowl? Quick: who's the wealthiest NFL owner?
I assume the three largest NBA markets are: Boston, the Los Angeles, and Dallas.
What did we learn from this year's playoff? Link here.
By the way, why do I have so little interest in the NBA?
Oh, the 1998 Super Bowl winner: The Denver Broncos.
Wealthiest NFL owner: Jerry Jones. Quick: name #3.
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The Book Page
I spent a lot of time updating notes from The Greek Myths, by Robert Graves. It is simply amazing the "images" from the myths that show up in the Old Testament.
The Judgement of Paris and the loss of Eden (paradise): both involved a woman and an apple. The part of the Biblical snake was played by Eris, goddess of strife, best known for starting the Trojan War.
The Greek trinities -- particularly Athene, Aphrodite, and Hera. Robert Graves has an interesting take on that. Absolutely brilliant. Graves would have been a most interesting professor of Greek myths.
Today, I will spend a bit of time on Caroline Alexander's The War That Killed Achilles.
Locator: 48034B.
Astronauts' return delayed, again: now, not until early July. Meanwhile, hydrogen keeps leaking. Boeing referring calls to NASA and NASA not taking phone calls. Who's in charge? And, of course, Musk is in the mix, also.
Pro-life. The Atlantic.
Always bring something. The [London] Guardian.
Investing story of the day (yesterday): Stephen Weiss' comments on CNBC's "Half-Time Report" with regard to Apple. AAPL today at the opening: up $2.36; up 1.13%.
NVDA: the pullback -- huge? Some says it's in "correction territory." A buying opportunity? I have no idea. By the way, now that I've started my "intergenerational wealth transfer" program, I'm pretty much out of the market (in terms of "active investing/active participation"). I've never added so much money to the market on a monthly basis, but it's now predominantly passive and being managed by professionals. My "input" is now minimal. My plan is on auto-pilot and I'm starting to move "grandparent" assets to "grandchildren" 30-year accounts. The "plan" is laid out here. The specifics will change but the general plan is on auto-pilot.
Netflix: flirts with all-time highs; ad momentum; live sports. Link here.
McDonald's debuts the $5 meal (IYKYK -- this is a gimmick that will fail big time):
McDonald's:
TSA: sets all-time screening record. And they say the US consumer is struggling. Wow.
Japan - dollar exchange rate; link here.
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Back to the Bakken
WTI: $81.43.
Wednesday, June 26, 2024: 73 for the month; 137 for the quarter, 336 for the year
39228, conf, Hess, BL-Domy-156-95-2932H-2,
RBN Energy: Energy Transfer's acquisition of WTG Midstream no longer includes BANGL stake.
Energy Transfer’s plan to buy WTG Midstream, a West Texas-based and private equity-backed natural gas gatherer and processor, just got a bit less expensive — and not quite so comprehensive. Energy Transfer will still acquire WTG’s network of more than 6,000 miles of gas pipelines, eight processing plants and more, but WTG’s 20% stake in the joint-venture (JV) BANGL pipeline system is no longer part of the deal. In today’s RBN blog, we’ll take a look at the detour from the original transaction.
