Sunday, November 17, 2024

Unemployment And Inflation -- For The Archives -- October, 2024

Locator: 44349JOBS.

For the archives. I've lost interest in this metric, also. The official unemployment rate is U-3. The unemployment rate on which I focus, U-1. We've discussed it before. U-1 is the simplest, unadjusted, straightforward. One number: 15 weeks. .

Seriously, is there any significant difference between 1.4% and 1.6%? 

I'm sure it's neither significant nor reproducible. A statistician might have the equations to "prove" the change is significant, but it's not significant to you or me.

*******************
Inflation 

I haven't read the article yet, just the headline, but after posting this note, I'll read the article. 

The headline suggests that too many "smart" people are/were "over-thinking" things. With regard to inflation, they're still over-thinking it. It's all about supply / demand. 

The price of eggs had nothing to do with the $40-trillion US debt. It had to do with bird flu and the culling of chickens. 

So, now I'll read the article. LOL.

Link here

President Biden hadn’t even been inaugurated when he and his senior advisers made a monumental gamble in January 2021 that would reverberate through his presidency. Fresh on the heels of a $900 billion Covid-relief bill that Congress had approved weeks earlier, Biden proposed a $1.9 trillion stimulus bill.

Biden and many of those advisers had been part of the Obama administration. Barack Obama took office under similarly gloomy circumstances in January 2009, during the low point of the global financial crisis. Years of high unemployment followed, with much of the world mired in a trap of low growth and very low—even negative—interest rates.

One lesson Democrats took from that episode: Spend aggressively when interest rates are low. It is better to overfill the cup than underfill it. 

It's a long article. It's amazing how much the writer had to write to explain it. Nick Timiraos isn't over-thinking it. He has it right, but for all the writing he did, he failed to come out and say it simply: inflation was a result of the mismatch in supply and demand. 

If one accepts that, it's easy to come up with the solution that the Biden administration failed to see. Folks in the administration over-thought it and Biden / Harris were poor communicators.

Ford Boosts Year-End Discounts On It's Bestselling EVs -- November 17, 2024

Locator: 44348EVS.

Link here.

From the linked article:

We’re officially into the traditional year-end sales period for automakers. That means big discounts are on the way, as both manufacturers and dealerships want to get rid of unsold inventory to make room for next year’s models.

This season, Ford has decided to boost incentives on its bestselling electric vehicles, the 2024 F-150 Lightning and Mustang Mach-E models.

Google: ford ceo on the lightning the mach-3

Updating An Old Newfield Barracuda Well -- #25994 -- Sandrocks -- November 17, 2024

Locator: 44347B.

The well:

  • 25994, 1,016, Ovintiv/Newfield, Barracuda 150-100-11-2-3HR, Sandrocks, t10/13; cum 123K 7/16; cum 212K 3/23;

Last updated March, 2023.

Now look at this:

  •  25994, 1,016, Ovintiv/Newfield, Barracuda 150-100-11-2-3HR, Sandrocks, t10/13; cum 123K 7/16; cum 212K 3/23; cum 309K 9/24;
oolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN9-202430486549031387930189300672
BAKKEN8-202431674366411713433160314041632
BAKKEN7-202431887190081899036314349201270
BAKKEN6-20243097849609217982950529259127
BAKKEN5-2024311214412153267433769937318258
BAKKEN4-20243020384204443199531617295721936
BAKKEN3-2024311629516312437822150520588796
BAKKEN2-20242214188141011023391952619298140
BAKKEN1-20240000000
BAKKEN12-20230000000
BAKKEN11-20230000000
BAKKEN10-20230000000
BAKKEN9-2023121401681939809800
BAKKEN8-202314784708522113511350
BAKKEN7-20233112391345914279725180
BAKKEN6-20231654643438680424242

Sundry form received March 28, 2024:

And this, a sundry form dated November 6, 2023:

The wells on that pad:

  • 25457, 1,320, Grayson Mill, Barracuda 150-100-11-2-4H, Sandrocks, t9/13; cum 286K 9/24;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN9-20243041844275109762953229161251
BAKKEN8-2024316392634013630401413993483
BAKKEN7-202431942495091752057385550992162
BAKKEN6-202430890288212566341659404871053
BAKKEN5-20243114501144172773561380562664994
BAKKEN4-20243016976170332771751577502351232
BAKKEN3-2024261516615374261263250132261143
BAKKEN2-202427202802007810697137515325864824
BAKKEN1-20240000000
BAKKEN12-20230000000
BAKKEN11-20230000000
BAKKEN10-20230000000
BAKKEN9-202385265411311891890
BAKKEN8-202331597616465107210720
BAKKEN7-2023311114110373422351956
  •  25456, dry, Newfield, Barracuda 150-100-11-2-3H, Sandrocks,
  • 25455,1,061, Grayson Mill, Barracuda 150-100-11-2-2H, Sandrocks, t9/13; cum 351K 9/24;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN9-2024308665856312283321043195133
BAKKEN8-202431998299111238532639313181197
BAKKEN7-2024311492315176202733885538134597
BAKKEN6-2024301730717194221523337532733527
BAKKEN5-2024312985729514305814652745955449
BAKKEN4-2024232433824437348412704926574387
BAKKEN3-20243119443192266790430752295511080
BAKKEN2-20241488368895497331296412123785
BAKKEN1-20240000000
BAKKEN12-20230000000
BAKKEN11-20230000000
BAKKEN10-20230000000
BAKKEN9-2023155495673816016010
BAKKEN8-202331120212021187139613960
BAKKEN7-202331126212661408172814490
BAKKEN6-202330124612401776138311130

Now, wells to the north, wells of interest. These wells are sited to the north and their horizontals will run south parallel to the Barracuda wells sited to the south (see above):


The wells:

  • 39610, conf, Grayson Mill, Barracuda 150-100-2-11-5HLW, Sandrocks,
  • 39611, F/A, Grayson Mill, Barracuda 150-100-2-11-6H, Sandrocks,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN9-20243056975703147394447243655581
BAKKEN8-202431765276421644253839518041734
BAKKEN7-20243110813106381963955768524973060
BAKKEN6-202415513253321015912784115651133
BAKKEN5-20243018740186942645067908640453610
BAKKEN4-20243032663327424245771766647046824
BAKKEN3-20242535772357444989662713603522361
BAKKEN2-20241319636193073636426670219104760
  • 39612, F/A, Grayson Mill, Barracuda 150-100-2-11-7H, Sandrocks,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN9-20243052935311144124062039874530
BAKKEN8-202431744475121756544136424671422
BAKKEN7-20243113512132652324461714580943387
BAKKEN6-20241247034897987012618114861052
BAKKEN5-20242918203181692697456999537573030
BAKKEN4-20243032189322173754171975648926844
BAKKEN3-20242630385305564745851225492971928
BAKKEN2-20241928041275685607841070337407330
BAKKEN1-20240000000
  • 39572, F/A, Grayson Mill, Barracuda 150-100-2-11-8H, Sandrocks,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN9-2024301283812659202714117340453512
BAKKEN8-20242293759489180752380122895772
BAKKEN7-20243118068182092804262865591773450
BAKKEN6-20242824099239323575073551665366521
BAKKEN5-20242926133259553815458321550043100
BAKKEN4-20243029608296524522255002495895230
BAKKEN3-20242729171293586052651830498791951
BAKKEN2-20242528027275489736248636399568680
  • 39573 conf, Grayson Mill, Barracuda 150-100-2-11-9H, Sandrocks,
  • 39574 conf, Grayson Mill, Barracuda 150-100-1-12-1HLW, Sandrocks,

Updating The First Economically Successful Horizontal Well In The Bakken -- November 17, 2024

Locator: 44346B.

Link here.

******************************** 
First Economically Successful Fracked Horizontal Well In The Bakken
  • 8201, 87, CRL, Robert Heuer 1-17R, a re-entry in a Madison -- DRY -- hole; Sadler field, 319,444 lbs of 20/40 sand; short lateral; t3/04; cum 123K 7/16; cum 145K 3/23. Re-entered. An old Madison well, re-entered -- the Bakken formation.

Update:

  • 8201, 87, CRL, Robert Heuer 1-17R, a re-entry in a Madison -- DRY -- hole; Sadler field, 319,444 lbs of 20/40 sand; short lateral; t3/04; cum 123K 7/16; cum 145K 3/23; cum 149K 9/24

Back in 2010 / 2011:

BAKKEN9-201127266229981305000
BAKKEN8-201131320732861878296329630
BAKKEN7-201131131683716259619610
BAKKEN6-20112264411635333703700
BAKKEN5-20113112058135476396390
BAKKEN4-20112914071777503105410540
BAKKEN3-20113123022298910237223720
BAKKEN2-201126408946281514321832180
BAKKEN1-201129477842072739351435140
BAKKEN12-201031171911852691156115610
BAKKEN11-2010338196547470
BAKKEN10-2010315203751335275270
BAKKEN9-2010305375551455135130
BAKKEN8-2010315135601485205200
BAKKEN7-2010314775691405105100
BAKKEN6-2010305195552073493490

A Lana Del Rey Night; Movie Night -- November 17, 2024

Locator: 44345MOVIENIGHT.

For me, it's going to be a Lana Del Rey night. LaDeRe fans will know what I'm saying.

My wife hates LaDeRe. She doesn't get it. 

And then I stumbled across this: link here.

The insurance companies killed hitchhiking.

From the linked article:

The guest room might be gone, but my memories of it are not that distant.

In grandparents’ homes or family friends’, a room ready to host people overnight can still be found. It’s a reminder that the concept was en vogue not too long ago.

According to design writer and author Sarah Archer, the guest room as we once knew it is a product of the 20th century.

“Before the post-World War II housing boom, the idea of having enough extra space to keep a bedroom ready for visitors at a moment’s notice was pretty rare, and for the most part, only the wealthy could afford [it],” she explains. “Postwar suburban houses offered more room to spread out—for the white middle and lower-middle classes, specifically—which meant that guest rooms became more common, along with dens or family rooms. The guest room was essentially a sign of modest but serious wealth: What’s not there—storage, an actual person’s bedroom, a real workshop—says as much as what is there.”

The reasons for the guest room’s popularity are the same behind its demise. You know the facts: Homeownership has been replaced by rental agreements, flatshares are more common than family units, and suburban homes have given way to (very) small city apartments.

“Today, square footage is at such a premium, the idea of having a guest room feels like a luxury from the Gilded Age,” Sarah adds.

When you get less space for your money, prioritization becomes key. It’s something design advisor and WeIncontro founder Helena Agustí knows all too well. Her unique eye for decoration has made the homes she’s lived in real Instagram candy. When she searched for a new rental last year, a space to host guests was at the top of her want list.

Decades ago, while hitchhiking across the country (the US) I stayed overnight in any number of homes of those giving me a ride offered me. Is that not amazing? Total strangers picking up a hitchhiker and offering me a place to stay overnight.

One might want to look at the "origin" of "AirBNB." 

I remember keeping a sleeping back at a girlfriend's apartment when going to graduate school in Los Angeles. 

And then, Glen Campbell wrote a song about that. LOL. 

**************************
Movie Night

Play Misty For Me.

Clint Eastwood's directorial debut. Wow. A Malpaso Company production. 1971. My second year in college. I had seen southern California once -- the year before. Then I went back, four years, 1973 - 1977, University of Southern California.  Followed by three more years in northern California.

Apple's Number 1 Problem -- Doesn't Own This Space -- November 17, 2024

Locator: 44344APPLETV+.

NFL Streaming: it's a mess. Link to Reddit.

Too Little Too Late -- The Ukraine -- An Update -- November 17, 2024

Locator: 44343UKRAINE. 

During the campaign, Kamala Harris never said anything about doing this, or even considering this. 

The big question: who made this decision? 

As a reminder:

  • Commander-in-chief: President Joe Biden
  • Secretary of Defense: Lloyd J. Austin III
  • US European Command (USEUCOM) / Supreme Allied Commander Europe (SACEUR: General Christopher G. Cavoli
    • USAEUR-AF: US Army Europe and Africa
    • USAFE-AFAFRICA: US Air Force
    • USNF Europe-Africa: US Navy
  • NATO, Chiefs of Defense, US: General Charles Q Brown, Jr.
  • Chairman, Joint Chiefs of Staff: General Charles Q Brown, Jr.
    • nation's highest-ranking military officer; principal military advisor to the president.
  • US Permanent Representative to NATO: Ambassador Julianne Smith.

From wiki:

The United States Secretary of Defense is the head of the United States Department of Defense, the executive department of the U.S. Armed Forces, and is a high-ranking member of the federal cabinet.
The SecDef's position of command and authority over the military is second only to that of the president of the United States, who is  the Commander-in-Chief.
This position corresponds to what is generally known as a defense minister in many other countries.

To ensure civilian control of the military, U.S. law provides that the SecDef cannot have served as an active-duty commissioned officer in the military in the preceding seven years except for generals and admirals, who cannot have served on active duty within the previous ten years. Congress can legislatively waive this restriction and has done so three times, for George C. Marshall (Truman), James N. Mattis (Trump), and Lloyd J. Austin, III (Biden).

Subject only to the orders of the president, the SecDef is in the chain of command and exercises command and control, for both operational and administrative purposes, over all DoD-administered service branches – the Army, Marine Corps, Navy, Air Force, and Space Force – as well as the Coast Guard when its command and control is transferred to the Department of Defense.
Only the secretary of defense (or the president or Congress) can authorize the transfer of operational control of forces between the three military departments (Department of the Army, the Navy, and the Air Force) and the eleven Unified Combatant Commands.
Because the secretary of defense is vested with legal powers that exceed those of any commissioned officer, and is second only to the president in the military hierarchy, its incumbent has sometimes unofficially been referred to as "deputy commander-in-chief."
The chairman of the Joint Chiefs of Staff is the principal military adviser to the secretary of defense and the president; while the chairman may assist the secretary and president in their command functions, the chairman is not in the chain of command.
The secretary of state, the secretary of the treasury, the secretary of defense, and the attorney general are generally regarded as the four most important (and are officially the four most senior and oldest) cabinet officials because of the size and importance of their respective departments.
The current secretary of defense is retired general Lloyd Austin, who is the first African American to serve in the position.

Has Austin, III, been over-ruled by Biden for the past two years?

Williams County -- Along The Montana State Line -- The Grayson Mill Sponheim Wells -- November 17, 2024

Locator: 44342B.


 


 

 The wells:

  • 40335, conf, Grayson Mill, Sponheim 31-34F 2H, Briar Creek, t7/24; cum 30K 9/24;
  • 40334, conf, Grayson Mill, Sponheim 31-34F 1H, Briar Creek, t7/24; cum 50K 9/24;
  • 40352, conf, Grayson Mill, Sponheim 31-34F 5H, Briar Creek, t7/24; cum 90K 9/24;
  • 40029, conf, Grayson Mill, Sponheim 31-34F 4H, Briar Creek, t6/24; cum 90K 9/24;
  • 40028, conf, Grayson Mill, Sponheim 31-45 3H, Briar Creek, t7/24; cum 90K 9/24;

The Incredible Duo -- Burgum-Wright -- Batman-Robin -- Don Quixote-Sancho Panza -- Zorro-Tonto -- November 17, 2024

Locator: 44341ENERGY.

Both will sit on the National Security Council. Historic. 

Finally, we're getting secretaries back in their correct lanes. And, not only that, they can drive.

Biden's DOE secretary was out of her lane and couldn't drive. And she had no guardrails.

Oklo. 

Link here.


From wiki:

Christopher Allen Wright is an American energy executive who is the chief executive of Liberty Energy. He is the presumptive nominee for United States Secretary of Energy under Donald Trump's second presidency, and will serve on the National Energy Council if confirmed by the Senate. He is a board member of Oklo Inc., a nuclear technology company, and EMX Royalty.

Digital Trends -- New Link -- November 17, 2024

Locator: 44340DIGITAL.

Blog inks are linked here

New link added today: DigitalTrends.

Apple -- Update -- November 17, 2024

Locator: 44339AAPL. 

Tag: Apple.

I might come back to these three links later.

MacBook Pro 16 vs MacBook Pro 14. Link here. The only Apple laptop with the new M4 chip?

Windows Bluetooth. Link here. Apple aficionados will know why I posted this.

India: link here. India's Tamil Nadu plant. 

India's "Silicon Valley": Tamil Nadu.

It's funny. A reader asked me what book I might want to recommend. I mentioned the book on the history of India. The reader, a huge investor in tech, said he did not have time for that -- rather, he was reading Zen and the Art of Motorcycle Maintenance. My two books on India:

  • India: A History, John Keay, c. 2000, 2010. 
  • Vishnu's Crowded Temple: India Since The Great Rebellion, Maria Misra, c. 2007

EVs -- November 17, 2024

Locator: 44338EVS.

DigitalTrends: link here

Northvolt EU EV declaring bankruptcy: link here and here, The NYT.

Jeep: prices have gone through the roof; buyers are bailing; dealers are furious; how not to run a auto manufacturing business. Link here.

Auto worker wipeout, MSN: link here. Why car companies are cutting thousands of jobs.

Cheap EVs: google hertz's tesla fire sales continue -- full article here --


EVs: by now, we should be further along. Link here.

“Issues like charging infrastructure, high upfront costs, and potential lifestyle disruptions continue to deter many from making the transition,” Accenture says.
Meanwhile, charging infrastucture has continued to expand this year in the U.S., led by networks such as ChargePoint, Tesla’s SuperCharger, and Electrify America.
Wholesalers such as Costco and Walmart are adding EV-charging capacity. But the race to make EVs more affordable is facing hurdles now that Chinese-made electric vehicles face stiff tariffs in both Europe and America. [And the article doesn't even mention EV credits are likely to go away under Trump.]

Trump to end EV credits?