Speaking Of Gouging -- Who Is The Worst Offender Among The Red Licorce Providers? August 26, 2024

Locator: 48459GOUGING.

 Red licorice prices / ounce:

• worse offender: $1.55 / ounce
• bad: $1.29 / ounce
• fair: 52 cents / ounce
• a real deal / steal: 15 cents / ounce

$1.55 / 15 cents = 10x.

Wiley Wallaby is charging 10 times what Twizzlers is selling for!

*************************
Federal Income Tax

When it comes to tips, all income needs to be reported and taxed. 

If not, it's only a matter of time before lawyers charge "billable hours" (taxed) and an 18% gratuity fee (untaxed) for "large parties." CEOs could be paid a salary of $1 million / year (taxed) plus tips (hundreds of thousands of dollars) for doing a "good job" (untaxed). Bonuses will be re-categorized as "tips." Both bonuses and tips reward a "good job."

My hunch: waiters at swanky restaurants in San Francisco earn well above $100,000 in tips every year. 

As far as taxing tips, like everything else it can be done progressively, like all income. For those earning less than, say $50,000 in tips, the there would be no taxes on tips. As tip income trends toward $100,000, tips would be taxed progressively and appropriately.

All BR Today: BR With Four New Permits: BR Reports A Completed DUC -- August 26, 2026

Locator: 48457B.

WTI: $77.42. A 3.5% jump in price even though it appears things have quieted down in the Mideast, at least for the moment. 

Active rigs: 39. About as many active rigs as we're seeing now. Anything over "40" is noteworthy.

Four new permits, #41064 - #41067, inclusive:

• Operator: BR
• Field: Lone Butte (Dunn County)
• Comments:
• BR has permits for four Tilton wells, SENW 18-147-97, all with the same spacing unit:
• standup 1920 acres: 31-148-97; 6 / 7 - 147-97, so running south to north

One producing well (a DUC) reported as completed:

• 31205, 1,435,  BR, Abercrombie 6-8-12 UTFH, 

Wells of interest:

• 19883, 1,603, BR, Abercrombie 44-12H, Elidah, t7/11; cum 261K 6/24; recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	6-2024	11	537	244	988	1011	967	32
BAKKEN	5-2024	29	1475	1651	2718	3466	3239	188
BAKKEN	4-2024	22	260	180	1925	935	685	219
BAKKEN	3-2024	4	127	0	0	82	75	0
BAKKEN	2-2024	0	0	0	0	0	0	0
BAKKEN	1-2024	8	284	490	131	1083	1055	14
BAKKEN	12-2023	26	933	696	505	3299	3198	57
BAKKEN	11-2023	30	1097	1479	664	3636	3456	129
BAKKEN	10-2023	31	1120	1226	911	4247	4140	59
BAKKEN	9-2023	14	763	250	521	1917	1855	40
BAKKEN	8-2023	0	0	54	0	0	0	0
BAKKEN	7-2023	26	545	725	263	2387	2315	32
BAKKEN	6-2023	30	1040	1232	547	4247	4141	59
BAKKEN	5-2023	31	1382	1154	609	4110	3989	73
BAKKEN	4-2023	30	848	955	344	2103	2010	46
BAKKEN	3-2023	27	784	719	300	1888	1802	40
BAKKEN	2-2023	9	308	248	68	871	842	14
BAKKEN	1-2023	29	790	734	353	2426	2338	39
BAKKEN	12-2022	21	716	721	261	2486	2418	32

• 34221, loc/A, BR, Abercrombie 3-8-12 MBH, Elidah, t 5/24; cum 6/24 71K; full production profile:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	6-2024	18	31541	31671	20818	99232	98218	984
BAKKEN	5-2024	31	39382	38905	27716	111289	111232	0
BAKKEN	4-2024	30	0	0	0	0	0	0
BAKKEN	3-2024	11	0	0	16794	96	2	77

The maps:

Presidential Politics -- The September 10 Debate At Risk? Multiple Sources Reporting -- August 26, 2024

Locator: 48456PP.

From Vanity Fair:

**************************
The Book Page

Top shelf books on evolution.

• When Life Nearly Died: The Greatest Mass Extinction of All Time, Michael J. Benton, c. 2003. 
• Dinosaurs Rediscovered: The Scientific Revolution in Paleontology, Michael J. Benton, c. 2019.
• Gorgon: Paleontology, Obsession, and the Greatest Catastrophe in Earth's History, Peter D. Ward, c. 2004.
  

The book that probably started it all -- for me -- was The Mistaken Extinction: Dinosaur Evolution and the Origin of Birds, Lowell Dingus and Timothy Rowe, c. 1997, perhaps one of the best books I've ever read on this subject, and, it introduced me to the whole subject of "clades." 

Others:

• The Rise and Reign of the Mammals: A New History, From the Shadow of the Dinosaurs to US, Steve Brusatte, c. 2022.

• The Princeton Field Guide to Dinosaurs, Third Edition, Gregory S. Paul, c. April 16, 2024. [I have the second edition, 2016.]
  

Manic Monday -- August 26, 2024

Locator: 48455INV.

Big story of the day. Ya gotta love the administration's explanation -- "follow Canada's lead." LOL. 

This is one of Trump's big planks in his platform -- huge tariffs on Chinese goods. Now, all of a sudden, Biden's administration agrees that's a great idea -- 75 days from the election. LOL. Whatever, it's all good.

In the big scheme of things, this is a lose-lose for everyone bullish on EVs -- including faux-environmentalists! Except maybe Musk / Tesla, but the folks that would be looking at a Chinese import are not the folks that are buying Teslas, so I guess I was correct -- in the big scheme of things, this is a lose-lose for everyone. I suppose it makes American-made fake EVs (hybrids) look more attractive.

Three Nvidia links this morning. I assume there will be more throughout the day.

• SK Telecom: will open a new AI data center in Seoul, South Korea, featuring thousands -- let's repeat that, thousands -- of Nvidiia's H100 and H200 GPUs. Just saying.
• Talking their book: BofA says stocks "like" Nvidia are table-pounding buys.
• Ives weighs in: over at Fortune, says 2Q24 results will be "the most important ...."

Solar on edge: I've blogged about SEDG several times -- today SEDG is down 9% in early trading -- SolarEdge, for a full year:

***********************************
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. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.

Five Wells Coming Off Confidential List Over Weekend Including Another Huge Enerplus Well -- August 26, 2024

Locator: 48454B.

WTI: $76.71. Up 2.5% overnight.

Monday, August 26, 2024: 62 for the month; 118 for the quarter, 444 for the year
40348, conf, Stephens Williston, Greenbrier 15591-0211-3HSL,
36268, conf, BR, George 4A MBH,

Sunday, August 25, 2024: 60 for the month; 116 for the quarter, 442 for the year
40349, conf, Stephens Williston, Greenbrier 15591-0211-4H,
39853, conf, Enerplus, Jade 148-95-4A-9H-LL,
39255, conf, Hess, SC-4WX-153-98-3130H-7

Saturday, August 24, 2024: 57 for the month; 113 for the quarter, 439 for the year
None.

RBN Energy: hurricane season brings unpredictable risks to Gulf of Mexico oil production.

Every year, the biggest wild card regarding Gulf of Mexico (GOM) crude oil production is the severity of the Atlantic hurricane season. A season generally free of major storms in offshore production areas will likely have only a minimal impact, but a summer and early fall with even just one or two powerful hurricanes along certain paths can cause output to plummet, sometimes for extended periods. In today’s RBN blog, we’ll look at GOM production gains over the years, the degree to which hurricanes and other issues have reduced output in the past, and the new production expected to come online later this decade.