Locator: 48244B.
WTI: $77.16.
Active rigs: 40 (recent high).
Four new permits, #40968 - #0971, inclusive:
Two producing wells (DUCs) reported as completed:
Locator: 48243EVS.
The EV narrative continues.
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Ford Continues To Build EVs
Today, the Dow surged 800 points.
Locator: 48242INV.
Wow. The first 300 points were due to reaction to economic data today. Everything else -- short covering!
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Amazon
This is not unusual in our apartment complex, just ten minutes from DFW and multiple Amazon fulfillment centers.
Order something this morning and one will have it by early afternoon. Order something late this evening and it will be at your door tomorrow morning.
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Grammy's Culinary School Graduate
Advanced Degree
Summa Cum Laude
Locator: 48240ECONOMY.
For those living under a rock, this is at the four-year mark of the Biden-Harris-JPow economy.
Updates
Later, 12:08 p.m. CDT, from The New York Times --
Later, 11:52 a.m. CDT: in response to economic data today -- certainly doesn't look like the market is pricing in a recession -- but we certainly hear a lot about a hard landing ... again, this is a Biden-Harris economy.
Reality: Most Recent GDP
According to the pundits, we should be in a deep recession by now -- but --
What We Were Thinking
As far back as 2022, link here: wow, was I wrong -- I must have been drinking the Kool-Aid --
One of my pet peeves is all the talk over the years about the risk of recession. We haven't heard that -- "risk of recession" in quite some time -- thank goodness -- but I'm sure it will pop up again, sooner or later.
But not today.
Wow, talk about a Goldilocks economy.
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Historic
Link here. Practically as good as it gets.
"Everyone" it seems "demands" that the Fed remain true to its word -- to follow the data.
And, yet, it appears, individual investors often don't follow the data
at all. Many "investors" seem to confuse politics with investing.
Is anyone paying attention? 51 months of expansion and a Goldilocks economy, exactly overlaps the Biden administration.
Locator: 48239WTI.
PCE: in line.
US markets: surge.
Most not-unexpected news: Mexico's new "mega" refinery delayed; way over budget; link here. Shocked! I’m shocked!
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Back to the Bakken
WTI: $77.29.
Sunday, July 28, 2024: 47 for the month; 47 for the quarter, 373 for the year
40301, conf, Whiting, Sanish Bay E Federal 5292 22-7 6B,
40174, conf, Slawson, Cyclone 3-21-16H,
Saturday, July 27, 2024: 45 for the month; 45 for the quarter, 371 for the year
40300, conf, Whiting, Sanish Bay E Federal 5292 22-7 7B,
RBN Energy: in catalyst recycling, refiners weigh environmental, profit incentives against risk of change.
In a refinery, crude oil is first distilled, which separates it into light, medium and heavy fractions. After that, refiners start performing chemical reactions to change the oil’s molecules from their natural form into those needed in modern fuels. But the catalysts used in that process aren’t only expensive, they essentially end up as hazardous waste at the end of their productive life. That helps to explain why there’s been a lot of interest in catalyst recycling, which advocates see as a way for refiners to improve both their profitability and their environmental performance. In today’s RBN blog, we continue our look into catalyst recycling — the technology, economics and trade-offs — and detail some of the pushback against it.
As we noted in Part 1, catalysts are materials that accelerate chemical reactions during the refining process. This includes catalytic cracking, which “cracks” heavier molecules into lighter gasoline molecules, thereby increasing the volume of gasoline produced from a barrel of crude, and catalytic hydrogenation, which removes sulfur atoms embedded in the molecules, reducing air pollution from vehicle exhaust.
