Walmart -- Margins -- Vs Apple -- Margins -- August 15, 2024

Locator: 48430RETAIL.

Link here.

Speaks volumes. 

Walmart:

Compare with Apple, link here:

And Walmart has to defend itself against price-gouging. It gets tedious.

US Hitting On All Cylinders -- Shale Oil Production Hitting New Records Due To Technology -- August 15, 2024

Locator: 48429B.

Wow, I love this country.

Link here.

For the past ten years, it's been a recurrent theme on the blog, "rig counts don't matter (don't take that out of context)."

Bismarck Tribune headline -- North Dakota oil production falls month-over-month (May/June - 2024). OMG! Quick, how big was the delta month-over-month?

US Hitting On All Cylinders -- Now It's Global Warming Producing Record Crops In The US -- August 15, 2024

Locator: 48428AGRICULTURE.

Wow, I love this country. 

Link here.

Wind -- August 15, 2024

Locator: 48427WIND.

".... Orsted had to cancel two major projects in the US last year after delays and supply chain issues added unmanageable costs. The latest trouble shows developers still can't predict all the costs in this generation of major projects." 

• key words / phrases:
• unmanageable costs
• supply chain issues (still? how long will they use this excuse)
• still can't predict all the costs
• this generation? of major projects -- what generation is this?

Link here.

Google AI Making Huge Investment In Dallas Area -- August 15, 2024

Locator: 48426AI.

With regard to AI:

• some feel it is hyped;
• others say it is not hyped.

I'm in camp B.

Exhibit:

Big on the nightly news tonight:

 

Ticker:

Electric Rates -- An Update -- August 15, 2024

Locator: 48425ELECTRICITY.

Much of this was re-posted from earlier because the CNBC folks today were very excited about these new nuclear reactors coming on line, and suggesting this could be the turning point for nuclear energy in the US going forward.

Nuclear reactor: two new units come on line. Absurdly expensive and took "forever" to build. Unit 3 and unit 4 -- big fanfare on CNBC today about bringing these two units online, and "what it might mean for nuclear future in the US" LOL. 

A transformer fire in last 24 hours in Unit 1 was not mentioned, but here's the story.  

The Vogtle plant in Georgia, wiki. The huge cost increase will result in significantly higher utility bills for Georgia customers.

And then this, the absurdly high cost:

Units 1 and 2 were completed in 1987 and 1989. The cost of these two units jumped from an estimated $660 million to almost $9 billion. [28x $660 million = $19 billion.]

Primary construction for Unit 3 began in 2009; completed in July, 2023.

Unit 4 came on line on April 29, 2024.

For units 3 and 4 combined, 2018 price estimates, $25 billion. By 2021, price estimates were almost $30 billion. In 2023, costs had increased to $34 billion, with work still to be completed on Vogtle 4. At $35 billion, 84% more expensive than the units 1 and 2, combined (1.84 x 19 - 35).

Per kWh:
units 1 and 2, combined, $9 billion / 2,430 MW = $3,703,703 / MW
units 3 and 4, combined, $35 billion / 2,106 MW = $16,619,183 / MW

Cost per wiki:

All of this needs to be fact-checked. I often make simple arithmetic errors.

Electric rates tracked here by the EIA. 

Residential electric rates, cents per kWh, May, 2024, for selected states:

• Massachusetts: 28.70
• New York: 23.60
• Ohio: 16.65
• Minnesota: 15.69
• North Dakota: 13.04
• Florida: 13.63
• Tennessee: 12.46
• Texas: 14.74
• Montana: 13.26
• California: 34.31 (no typo) -- it was 29.80 a year ago -- a 15% increase in price!
  
• Washington State: 12.16 (think hydroelectricity)
• Alaska: 25.02
• Hawaii: 44.14 (and a question whether Hawaiian Electric might go bankrupt)
  

Coincidentally, this was posted yesterday:

Bull Market As Strong As Ever -- Most Analysts Today Expect That Lows Will Be Tested Before End Of Summer (Before End Of Septembe) -- August 15, 2024

Locator: 48424INV.

At the close, August 15, 2024. At the close, the Dow up 555 points (1.4%); the S&P up 88 points (1.6%) and the NASDAQ up 402 points (2.34%). Wow.

First bull market in memory that began at the same time as the Fed began raising rates -- CBNC.  

MDU raises dividend by 4% to 13 cents / share.

AMAT: earnings beat. Ticker: 

Nuclear reactor: comes on line. Absurdly expensive and took "forever" to build. Unit 3 and unit 4 -- big fanfare on CNBC today about bringing these two units online. A transformer fire in last 24 hours in Unit 1 was not mentioned, but here's the story. The Vogtle plant in Georgia, wiki. The huge cost increase will result in significantly higher utility bills for Georgia customers.

Units 1 and 2 were completed in 1987 and 1989. The cost of these two units jumped from an estimated $660 million to almost $9 billion. [28x $660 million = $19 billion.]

Primary construction for Unit 3 began in 2009; completed in July, 2023.

Unit 4 came on line on April 29, 2024.

For units 3 and 4 combined, 2018 price estimates, $25 billion. By 2021, price estimates were almost $30 billion. In 2023, costs had increased to $34 billion, with work still to be completed on Vogtle 4. At $35 billion, 84% more expensive than the units 1 and 2, combined (1.84 x 19 - 35).

Electric rates tracked here by the EIA. 

Residential electric rates, cents per kWh, May, 2024, for selected states:

• Massachusetts: 28.70
• New York: 23.60
• Ohio: 16.65
• Minnesota: 15.69
• North Dakota: 13.04
• Florida: 13.63
• Tennessee: 12.46
• Texas: 14.74
• Montana: 13.26
• California: 34.31 (no typo) -- it was 29.80 a year ago -- a 15% increase in price!
  
• Washington State: 12.16 (think hydroelectricity)
• Alaska: 25.02
• Hawaii: 44.14 (and a question whether Hawaiian Electric might go bankrupt)
  

Coincidentally, this was posted yesterday:

Director's Cut -- June, 2024 Data -- Four New Permits; Five Permits Renewed -- August 16, 2024

Locator: 48423DIRECTORSCUT.

Link here.

MDU raises dividend by 4% to 13 cents / share. 

**************************
The Daily Activity Report

WTI: 478.16.

Active rigs: 37.

Four new permits, #41026 - #41029, inclusive:

• Operators: MRO (2), Wesco Operating, Grayson Mill)
• Fields: Bailey (Dunn County); Lake Ilo (Dunn County); Bicentennial (McKenzie); and, Tobacco Garden (McKenzie)
• Comments:
• Westgo has a permit for a Federal well, NESE 20-145-103, 
• to be sited 1650 FSL and 1173 FEL;
• Grayson Mill has a permit for an Eide well, SESW 31-151-99, 
• to be sited 1003 FSL and 1775 FWL;
• MRO has a permit for two wells, a Batson well and an Eslinger well, NENE 18-145-93, 
• the Batson to be sited 420 FNL and 901 FEL; and the Eslinger to be sited 460 FNL and 901 FEL;

Five permits renewed:

• BR: five Lincoln Hill permits, Killdeer oil field, Dunn County;

Three producing wells (DUCs) reported as completed:

• 39608, 55, Oasis, Jammer 5792 43-32 3B,
• 39609, 1,506, Oasis, Jammer 5792 43-32 2B,
• 40199, 3,442, Grayson Mill, Hopes 30-27F,

Factors Affecting One's Potential Growth In Net Worth -- August 15, 2024

Locator: 48422NETWORTH.

I'll talk about this at greater length later. 

The one factor that most affects one's potential growth in net worth: the state in which one chooses to live:

• state income taxes
• cost of electricity
• cost of transportation (gasoline)

Cramer -- First Hour -- Tell Me Again, Recession Is Back On The Table -- August 15, 2024

Locator: 48421CRAMER.

At the open:

Link here.

Recession? What recession?

Struggling consumer? What struggling consumer? 

Cramer: "we're seeing some growth with declining inflation" -- "nirvana."

Walmart soaring after earnings report.

• CEO: "we're not seeing any sign of a weakening consumer."
• WMT: trending toward $600 billion market cap
• Walton "family" controls 46% of the outstanding shares
  

CNBC headline: stock futures jump after economic data.

• jobless claims come in light, retail sales smash estimates.
• pre-market after the economic data came out:
  

 The chartist:

Ones to watch today: INTC, F, CSCO, OXY, BRKB, SRE, ENB. And AAPL, of course.

Personal investing: Sophia has the cash to invest, but will wait for the inevitable pullback tomorrow or next week. Biggest problem? What to buy? Simply too many opportunities. I don't know if folks are paying attention, but the gains this past year have been incredible. 

***********************************
Disclaimer Briefly 

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 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. 

*********************************
Best Birthday Ever
Coming Up On Ten Years Of Social Security Eligibility
(I Don't Take It)

Happy Birthday To Me -- August, 2024

Locator: 48420ARCHIVES.

First draft.

I turned 73 years old this month.

I couldn't possibly be happier.

*********************
Technology

Technology today absolutely blows me away. The iPhone has completely changed my life. At my fingertips, 24/7, I have:

• a camera
• an alarm clock / timer
• a personal messaging service
• a map
• a wallet with all my credit cards on the iPhone
• my driver's license on the iPhone
  
• access to the web 24/7 
• text, chat, blog
  

One monthly charge pays for all telephone calls, video calls, video-conferencing. No long-distance charges, fees, tolls.

I can invest in the stock market / trade (buy/sell) stocks while sitting at a red light in traffic.

I've even opened a brand new trust account at Schwab while driving. 

I get breaking news when it happens 24/7.

*********************
YouTube

Has come a long time.

I can watch complete movies on YouTube, at no charge.

I watched events from the Paris 2024 Olympics almost in real time. Google owns YouTube. NBC/Peacock owns the rights to the original Olympics footage.

Playlists (music) keep getting better.

******************
Amazon Prime Movies

Almost every movie I’ve ever wanted to watch is accessible.

Most movies are free.

The few movies that are not free, are less then $5.00 to rent, or less than $20 to own.

Without Amazon Prime, it would cost a family of four upwards of $48 to see a movie.

With Amazon Prime, I can rent the movie for $3.99 for the entire family and watch it at the time of our choosing in the comfort of our own home.

*********************
Schwab

Commission-free trading.

Trades close in 24 hours.

One financial institution:

• full service checking accounts
• cash sweeps into money market funds
• transfer cash seamlessly between accounts
• ETFs
• 529s
• IRAs, traditional and Roth
• pay all bills on line
• almost no need for US postage stamps any more
  

Again, this and more, all in one financial institution .... and all for free (minor exceptions). 

No need for a traditional bank.

**********************
Shut-Ins / Convenience

Food delivery, 24/7.

I can order almost anything I want on Amazon before midnight, and get my order by noon the next day.

More and more pharmaceuticals available on line.

Uber / Lyft.

Book airline tickets on line, 24/7. Paper tickets a thing of the past.

*************************
Streaming

Absolutely amazing.

Live sports: practically available 24/7.

Business news: available 24/7.