Bakken 101 -- Minor Note -- Nothing New -- Just A Reminder -- September 1, 2024

Locator: 48517B.

A reader asked about Neptune's Dorothy permit in Rainbow oil field.

I was a bit confused at first when looking at the map, but it all made sense when I updated the information:

• 37817, Neptune Operating, a Dorothy permit, Rainbow, Williams County; permit renewed, August 28, 2024; this one is still confidential, no release date, it appears it will be running south to north into sections 18 / 19 - 158-98. Note: 
• when looking at the map, remember: Kraken Resources acquired Crescent Point Energy assets In North Dakota -- October 16, 2023 -- link here.  
• Neptune Operating is a subsidiary of Kraken. 

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Preparing To Prepare

We have a dozen or so doves to try today.

We'll divide them into three groups:

• stove-top grill, rosemary, thyme
  
• stove-top, light batter, grill
• oven, roast, seasoned, add a bit of brown sugar

Ports -- USB-A Vs USB-C -- An Update -- September 1, 2024

Locator: 48516APPLE.

Link here.

Link here.

Ford: Quality Was Job #1 -- Until 1998 -- Update -- September 1, 2024

Locator: 48515FORD.

I cannot recall a "legacy" manufacturer's recall that requires an entire engine replacement if inspection confirms defect. Wow. That would be a bummer. For all parties involved.

Link here. 

Apparently "Quality is Job #1" went out of favor in 1998.

Speaking of which: I don't think Boeing ever used that tag line, quality is job #1.

Carnac the Magnificent:

• Johnnie, holding sealed envelope to his head: name two car companies and a computer company where quality is Job #1.
• Ed, from the sealed envelope: Ford, Boeing, and Microsoft.
  

CALPERS -- Update -- September 1, 2024

Locator: 48514CASHBURN.

Link here.

From the linked article:

The largest U.S. public pension by assets recently made major changes in some of its biggest investments.

In the second quarter, California Public Employees’ Retirement System slashed stakes in artificial-intelligence chip maker Nvidia software firm International Business Machines, and retailer Walmart while buying more shares of electric-vehicle maker Lucid Group.

Calpers, as the pension is known, disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.

In response to a request for comment on the investment changes, the pension emailed the statement, “Calpers’ global public equities are largely managed using quantitative and systematic investment approaches and, as such, we do not comment on our individual holdings or trades or discuss investment strategy.”

The pension has assets of more than $520 billion , making it the largest public pension in the country.

There are more than 2 million members enrolled in CALPERS.  

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Burning Cash

These are all recent posts.

Link here.

Other recent screenshots:

US Field Production Of Crude Oil -- September 1, 2024

Locator: 48513EIA.

The EIA data was released August 30, 2024.

In 1000's bopd.

Link here. 

Note:

• above 12 million bopd every month since August 2022
• above 13 million bopd every month since August 2023 (with one exception, January, 2024)

Month/month:

• from 13,189,000 bopd to 13,214,000 bopd = an increase of:
• 25,000 bopd
• 0,190%

In storage:

• 425 million bbls
• 25,000 x 30 days x 6 months = 4.5 million bbls
• analysts tracking the SPR: using metrics developed prior to the Bakken revolution
• US field production --
• 2011: 6 million bopd (Bakken revolution in ND reaching its stride)
  
• 2024: 13 million bopd

US EIA: link here. Domestic consumption has flatlined.

Nominee -- Geico Rock Award -- 2024

Locator: 48512GEICOROCK.

Link here.

Nominee: Andrew J. Hawkins, transportation editor, The Verge, from the Phil LeBeau School of Transportation.

From the linked article:

Let’s get one thing out of the way: contrary to what you may have heard, electric vehicle sales are up.

I know, recent headlines suggest otherwise.

• Tesla sales are down.
• Ford is scaling back its EV rollout.
• General Motors is delaying an electric truck and holding back on investments in EV battery mining.
• And Hertz is off-loading EVs as its stock price struggles.
• Automakers across the board are losing millions — some are losing billions — as customer demand appears to have flatlined after an initial burst of excitement.

The vibe, as they say, is grim.

And yet, sales are still growing. JD Power is projecting that 1.2 million EVs will be sold in the US by the end of 2024, an increase over 1 million sold last year. That’s 9 percent of total vehicles sold, which has been revised down from a previous prediction of 12 percent.

Fake EVs will do just fine. Which are basically ICEs with a marginal kick.