Flocking To Texas -- July 24, 2024

Locator: 48226ARCHIVES. 

Rambling while watching the NY Mets beating the NY Yankees (again, twice in two consecutive evenings). Holy mackerel! If you are a Mets fan, you're loving this. Top of the eighth, one out, and three-run homer making it 11 - 2. Still in the eighth inning, a sacrificial fly makes it 12 -2. The inning, mercilessly for the Yankees, finally comes to an end.

Apple: several times during the game, the announcer mentioned that the players and coaches go back to their iPads to review replays -- Apple iPads specifically mentioned. 

Now this, from MacRumors:

Flocking to Texas, link here. 

A reader sent me this without comment: something suggests to me that Jonathan Haidt has a dysfunctional family and he wants to blame it on the iPhone. I don't buy it.

Not sure why this was "breaking news." It's been scheduled for several days. I don't understand why Biden only spoke from the Oval Office on four occasions.

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Duped

Link here. 

More and more it's looking like Vance was absolutely the wrong choice. Link here.

Top of the list on Kamala Harris' short list: a US Senator from Arizona. And that guy can take on both Trump and Vance. 

New York Times, link here. How does one say Vance was the wrong choice without saying Vance was the wrong choice. Meanwhile, all of a sudden Trump's candidacy is looking old (haven't we seen this twice before?) and all of a sudden Trump looks like he may have Bidenitis.

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Indian Territory

Indian Territory --> Oklahoma.

It's amazing North Dakota, South Dakota, or major pieces of each state didn't become "another" Oklahoma. See chapter three, Prairie Man: The Struggle Between Sitting Bull and Indian Agent James McLaughlin, Norman E. Matteoni, c. 2015.

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Word of the Day: Hierophant

Link here.

Greek priesthood.

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Duolingo -- Spanish

I'm thinking of reading Man of La Mancha in Spanish.

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"Combined Age"

148 years of age.

Photo undated. Taken this year or last year. I forget. But that was a "new" shirt in 2023.

Bruce's haircut by Sophia, age 10. I've not had a haircut in a barbershop since February, 2020. All haircuts since the Covid lockdown by Sophia.

Crude Oil In Storage Dropping; Gasoline Demand Up; And, Price Of Oil Dropping -- Biden Makes Formal Announcement From Oval Office -- Won't Run For President -- July 24, 2024

Locator: 48225B. 

EIA weekly petroleum report, link here:

• crude oil in storage: 5% below five-year average
• refiners: 91.6%.
• jet fuel supplied: up 3.8% compared with same four-week period last year;

Gasoline demand, link here:

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Back to the Bakken

WTI: $77.38.

Active rigs: 39.

Five new permits, #40955 - #40959, inclusive;

• Operators: Grayson Mill (4); CLR
• Fields: Sixmile (Williams); Cabernet (Dunn)
• Comments:
• CLR has a permit for a Rutledge well, SESE 11-144-97; 
• to be sited 325 FSL and 1189FEL;
• Grayson Mill has permits for four Grand National wells, NWSE 34-153-103, 
• to be sited 388 FWL and at 1554 FSL, 1524 FSL, 1464 FSL, and 1434 FSL.

Six permits renewed:

• BR: three Kirklandfill permits and three Morganfill permits; Pershing oil field;

Three producing wells (DUCs) reported as completed:

• 30263, 551, Slawson, Bazooka 1 SLH,
• 38161, 0, Lone Beaver 6-1-17MBH,
• 39299, 987, Minx Federal 1 SLH,

Electricity -- AI -- July 24, 2024

Locator: 48224ELECTRICITY.

Demand, Economic Times, clickbait as determined by number of ads, but some nice data points. For the archives. Not a recommended article.

American electricity, search today:

SRE, today:

Dividend history:

This is not an investment recommendation. This is for the archives.

Re-Posting: Link To IEEFA Regarding The LNG Pause -- July 24, 2024

Locator: 48223NG.

Link here. NG-LNG is now tracked here, periodically.

This reads like an op-ed which I assume it is, but there's a lot of interesting data points for the archives.

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Headlines 

Grinnell -- July 24, 2024

Locator: 48222B.

After Sophia's family returned from a trip to Montana, specifically Glacier National Park, the name "Grinnell" popped up often. 

So, in the order in which I searched (ChatGPT would have been faster, but not as much fun). 

A generic google search resulted in this:

And, then, of course, the rest was easy. Next:

And, then, wiki:

But this was most entertaining. Look at the search and then looked what popped up as the first hit! Whoo-hoo!

From 2014! Wow! What a hoot!

I don't know if Grinnell ever made it to North Dakota but with his close friendship with Teddy Roosevelt my hunch is, that if he didn't, he still knew a lot about North Dakota. But to have a geographic location in North Dakota named after him, certainly suggests he was there.

The Pawnee people: Central Plains Indian tribe historically associated with Nebraska and northern Kansas. Language: Caddoan family.  

In Memoriam, from The Auk: A Quarterly Journal of Ornithology.

This does not say Grinnell actually returned to North Dakota, but it's hard to believe that he did not:

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One Of My Large-Leave Plants

Update: a new leaf has just unfurled. 

A couple of days ago:

Today:

Done For The Day -- Overwhelmed -- Wednesday, July 24, 2024

Locator: 48221B.

Tag: "EV narrative." 

Must-read: the randoseru. Link here. Is it available on Amazon? Let's check. Holy mackerel, it is. Look at the price!

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Back to the Real World

New home sales: plunge.

CNBC's expert on currency trades: Sara Eisen. Fairly long segment on weaker dollar vis a vis the Japanese yen today. 

Fed rate: more and more talking heads getting nervous about delay in Fed rate cuts. Former NY Fed president: the Fed needs "to cut next week." Next on JPow's agenda: Jackson Hole, late August. By which time the DNC convention will be history and the presidential campaign will be in full swing. Generally, historically, when one of two presidential contenders seeks "multiple" debates, the one seeking "multiple" debates knows that he/she is now the underdog. Just saying. But note: Trump is a very, very different animal. But ... 

VP: my money is on one of the young white guys. Governor of Kentucky (age 46) would be a brilliant choice, but my money (if I were a betting man, pronouns "he/him") is on the governor of Pennsylvania (age 51, Jewish). All electoral roads lead to and through Pennsylvania. The "real" VP (Kamala Harris' spouse) is also Jewish. If Shapiro is not selected, then it goes to Governor of North Carolina, though at age 67, relatively older, but still a generation younger than Joe Biden and Donald Trump.

Light oil: Kuwait announces huge new oil field. Link here. Peak oil? LOL. 

IEEFA and the "LNG pause." Link here.

Under-reported: it's mentioned, but it's buried in the story. See if you can spot it. Link here. So many story lines in this article, but the biggest story is buried this article and not even reported elsewhere. We might come back to this, but I often forget -- or simply run out of time. EV narrative continues.

Under-reported: with regard to Tesla, this is the other under-reported story -- margins --

Henry Schein, Inc. See wiki for background. Moving operations from Grapevine, TX (think DFW) to Alliance area of Ft Worth. This is a huge story. Several years ago I posted a story about Alliance, TX -- this is truly a huge story. Combine this story with the next story on Texas growth.

Flocking to Texas, link here.

Overwhelmed! Anyway, I'm so overwhelmed with news and personal events, I have to take a break. I'm not sure if I will be back to the blog before this evening. Good luck to all.

ATT up over 4% today simply blows me away. Speaks volumes. And it's amazing all the pundits / correspondents who “told me" to stay away from T. LOL. T is not a long-term investment for me, but it's where I park money until opportunity presents itself. 

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First Things First

The "EV Narrative" Is A Thing! WTI Having Trouble Getting Back To $78 Even As Kuwait Announces Huge Oil Find -- July 24, 2024

Locator: 48220B.

The "EV Narrative" is a thing! Word search "EV narrative" -- almost daily the EV narrative continues -- today it's Tesla. Down $22 this morning at the opening; down almost 10%. Wow. More later. 

ATT! Up 4% on a "down" day for the market. This is where the real story is, not TSLA. Even GOOG is not the story today.

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Back to the Bakken

WTI: $77.56.

Thursday, July 25, 2024: 42 for the month; 42 for the quarter, 368 for the year
40271, conf, CLR, Sloan 3-18HSL,
40173, conf, Slawson, Cyclone 2-21-16H,

Wednesday, July 24, 2024: 40 for the month; 40 for the quarter, 366 for the year
39968, conf, Petroshale, Primus 2TFH,
39636, conf, Hess, TI-State-158-95-3635H-2,

RBN Energy: production and export gains drive Agua Dulce gas Hub's expanding role. Archived.

Every day, more than 7.5 Bcf of natural gas flows through the Agua Dulce Hub region in South Texas — 1.7 times the volume five years ago. And the hub’s growth is just beginning. By 2030, flows may well top 11.5 Bcf/d as gas production ramps up in the Permian and the Eagle Ford, pipeline exports to Mexico increase, and new LNG export capacity comes online along the South Texas coast. In today’s RBN blog, we begin a detailed look at the Agua Dulce Hub — its origins, its development during the Shale Era, its major players and its potential to become a major gas trading hub.

The transformation of natural gas markets in Texas, Mexico and, in many ways, the world at large over the past several years has been made possible by the Shale Revolution, which unlocked extraordinary amounts of previously trapped crude oil, gas and NGLs in the Permian, the Eagle Ford and other U.S. shale plays. The revolution’s technological breakthroughs spurred the development of a slew of new infrastructure — for the gas sector alone, we’ve seen (among other things) new gas gathering systems, gas processing plants, pipelines, power generation facilities, and LNG export terminals.

A substantial portion of the incremental gas flows out of the Permian and the Eagle Ford have been directed to and through the Agua Dulce Hub, an increasingly complex and busy gas pipeline crossroads in Nueces County, TX, about 30 miles west of Corpus Christi. The expansion of the hub (more pipelines and higher flows) is tied largely to growing gas demand from industrials, power generators and LNG exporters in South Texas and south of the border in Mexico.