Locator: 48353NATGAS.
I remember when I first started the blog, more than ten yeas ago, Nancy Pelosi recommended that natural gas be considered a) a renewable energy source and not a fossil fuel; and, b) the bridge to future green energy. Absolutely amazing; brilliant woman. If I recall correctly, T. Boone Pickens had the same idea.
Locator: 48352B.
WTI: $73.02.
Active rigs: 36.
Five new permits, #41000 - #41004, inclusive:
Nine permits renewed:
Three DUCs reported as completed:
Locator: 48351INV.
Of note, Intel, too important to fail:
From Reddit, link here:
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Tickers
NVDA:
INTC:
CHRD:
Locator: 48350TESLA.
The EV narrative continues.
It certainly appears 2023 - 2024 will be the watershed years when we look back on the EV industry in 2035.
Locator: 48348B.
Most exciting Bakken operator: Chord Energy
Most exciting Bakken non-operator: NOG
Most aggressive Bakken operator (in a good way): Phoenix Operating
Locator: 48347B.
We will sort out this activity later.
The wells:
Wells of interest:
Locator: 48346AI.
Forbes: excellent newsletter updated the "AI bubble." Great, great newsletter. I would link it but I can't find it on the browser. Pushed out as a newsletter for subscribers.
From oilprice.com today:
Two camps:
I'm in the second camp.
Earlier today I posted this two-liner:
Locator: 48345SOLAR.
The sun didn't come up for a lot of these companies this morning. My hunch: most of these failed CEOs are now lobbyists for the industry.
We're seeing it in both solar and EVs: when the "subsidies" go away, EVs and solar energy fail.
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Put Another Log On The Fire
Does anyone remember this list?
This is the new list. I assume there are further updates or companies I missed. The bankruptcy updates are incomplete; I ran out of time updating all the companies that went bankrupt. I'll probably come back to complete the list later.
Here we go: the complete list. I believe this is for one the past 18 months -- calendar year 2023 and through 2024 so far.
The solar industry experienced exponential growth over the last decade as costs fell and favorable policies helped drive mass adoption.
However, 2023 has brought immense challenges, with higher interest rates, tighter financing, and adverse policy shifts in key states contributing to over 100 solar bankruptcies based on our industry data, a number unseen before in our almost 20 years in the solar sector.
California was particularly hard hit due to new net metering rules under NEM 3.0 that radically reduced system economics. These adverse state policy impacts exacerbated financing shifts, triggering plummeting demand and an 80% decrease in rooftop solar installation volume.
The California Solar & Storage Association reports that the fallout includes thousands of stalled projects, over 17,000 industry layoffs, and a wave of high-profile bankruptcies. While stronger players demonstrate some resilience, impacted homeowners and solar employees face prolonged uncertainty. The outright collapse of many once fast-growing solar firms provides a sobering case study on the potential unintended consequences of incentive transitions.
Solar Trust of America, LLC: link here.
Locator: 48344B.
Personal investing: added to an energy position for Sophia.
Tim Walz: Minnesota governor selected as Kamala Harris' VP. Follows a long line of highly notable and successful Democrats from Minnesota, beginning with our all-time favorites, Walter Mondale and Hubert Humphrey.
Biggest question: where will INTC open today? It may open up 27 cents, at $20.38. NVDA will open up $1.75.
LEGO: has 187 "new" sets -- link here. Some are announced, but not yet available; can pre-order. Many on back-order. The 2024 Advent calendar available for pre-order. Amazingly, this one is almost always on back-order:
Mideast: let's start the countdown --
Mideast: the only thing I'm tracking today -- "Mideast" over at twitter.
WMB, link here:
SRE misses. Ticker had trended toward $84, now trading at $78. Pre-split adjusted, this was a $140 stock (at best); now split adjusted it's just under $150.
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Back to the Bakken
WTI: $72.90. Held above $70. That's all we can ask for right now.
Thursday, August 8, 2024: 19 for the month; 75 for the quarter, 401 for the year
40236, conf, Iron Oil Operating, Stocke 5-4-9H,
39602, conf, Hess, BL-iverson B-155-95-0807H-7,
RBN Energy: the "city" of Crane, TX, emerges as pivotal hub in Permian's evolving oil connectivity. Archived.
Crane, TX, entered the 20th century with a population of only 51 people but a staggering 21,400 cattle and sheep, reflecting its ranching roots. Established as a railway station along the Kansas City, Mexico & Orient Railway (KCM&O) in 1911, Crane initially relied on ranching and the railroad industry. However, the discovery of oil in the Permian Basin in 1926 drastically shifted its economic landscape, turning Crane into a bustling oil boomtown. And that was just the beginning. In today’s RBN blog, we look at the central role Crane plays in bringing crude from the prolific Permian to the U.S. Gulf Coast.
