Locator: 44432TRUMP.
Didn't get much coverage.
Tuesday, November 26, 2024
Tuesday -- November 26, 2024
Locator: 44430B.
US: I can't get my mind around this. On NBC Nightly News tonight, it was stated that city, county and state governments are threatening to shoot federal agents who try to enter those (city, county, state) jurisdictions to carry out federal orders. Okay.
Lebanon: not even president yet, and Trump is driving a "truce" between Israel and Hezbollah. President Biden seems to want to take credit. Came out of Thanksgiving vacation to make the announcement.
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Back to the Bakken
Back to the Bakken
WTI: $68.84.
Active rigs: 35.
No new permits announced today.
Five producing wells (DUCs) reported completed today:
- 40129, 1,194, MRO, Ashley USA 43-5H, Mountrail,
- 40410, 1,021, CLR, Dahle 5-35HSL, Billings,
- 40412, 798, CLR, Anheluk 5-26HSL, Billings,
- 40463, 421, Oasis, Lee N 5201 21-5 4B, McKenzie,
- 40493, 643, Oasis, Lee N 5201 21-5 5B, McKenzie,
Rivian Update -- November 26, 2024
Locator: 44428EVS.
The big news yesterday: the Biden administration negotiated a $6-billion+ ($6.6 billion loan to Rivian to build a factory in Georgia, US.
This comes on top of a multi-billion-dollar ($5.8 billion) infusion from Volkswagen as a partner announced two weeks ago.
Today's trading:
The past five years:
Extinctions -- Never Quit Reading -- The Book Page -- November 26, 2024
Locator: 44427ARCHIVES.
Never quit reading.
I'm in my "India phase."
I completed the first book some weeks ago and am now reading the second book:
Two books on India.
- India: A History, John Keay, c. 2000, 2010. Notes here.
- Vishnu's Crowded Temple: India Since The Great Rebellion, Maria Misra, c. 2007
And, now, wow, wow, wow! A seven-page essay on Indian languages in the current issue of The New Yorker. Had I not read the two books, "Hold Your Tongue: Can The World's Most Populous Country Protect Its Languages," Samanth Subramanian, The New Yorker, November 25, 2024, pp. 18 - 24.
The linguist being featured: Ganesh Devy.
In some Indian languages, the word for “language” is bhasha—the vowels long and warm, as in “car” or “tar.” It has a formal weight and a refined spirit. It comes to us from the classical heights of Sanskrit, and it evokes a language with a script and a literature, with newspapers and codified grammar and chauvinists and textbooks. But there is another word, boli. It, too, refers to language, but its more accurate meaning is “that which is spoken.” In its sense of the oral, it hints at colloquialisms, hybridity, and a demotic that belongs to the streets. The insinuation is that a bhasha is grander and more sophisticated than a boli. The language of language infects how we think about language.
For more than forty years, the distance between these two words has preoccupied the literary scholar Ganesh Devy. He knows precisely when it all began. In 1979, as he was completing his Ph.D. in English literature at Shivaji University, in the Indian city of Kolhapur, he found in the library a commentary on India’s censuses. The 1961 census had identified sixteen hundred and fifty-two “mother tongues”—many of them, like Betuli or Khawathlang, with speakers numbering in the single digits. But the 1971 census listed only a hundred and eight; the hundred-and-ninth entry was “all others.” That made Devy wonder: What had happened to the other fifteen-hundred-odd languages, the various boli deemed too unimportant to name? “The ‘all others’ intrigued me, then it bothered me, and then I got obsessed with it,” Devy said. “Literature is a product of language, so at some point I thought, When I know that so many other languages have been masked, do I not have any responsibility toward them?”
Too often, India’s riotous profusion of languages is conveyed through metaphor, adage, or anecdote. You may compare India to Babel, or quote the Hindi aphorism that roughly runs, “Every two miles, the taste of water changes / And every eight miles, the language.” (My own anecdotal offering: My grandmother, who never finished high school, spoke five languages fluently.) Five of the world’s major language families are present here—but beyond that quantification has proved elusive. After 1961, the Indian census did not count languages with any rigor; it mainly published the names of all the languages that people said they spoke. The last one, from 2011, registered around nineteen thousand “mother tongues”—a plain absurdity. In the world’s most populous country, no one knows how many languages are living, or how many have died.
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The Great Auk
And then in the current issue of The New York Review, December 5, 2024, p. 29, there's an article with regard to another extinction. But not around the extinction of a language, but rather the extinction of the Great Auk.
Standing around two feet tall and weighing around twelve pounds, the great auk was a large and stately bird, often described by those who encountered it alive as a “proud” animal.
It was flightless, the North Atlantic’s ecological equivalent of the penguins of the southern hemisphere. Distributed from the Atlantic coast of North America to Europe, its past abundance is testified to by many early voyagers.
One striking example comes from the narrative of Sir Humphrey Gilbert’s 1583 expedition to Newfoundland:
We had sight of an island named Penguin, of a fowl there breeding in abundance almost incredible, which cannot fly, their wings not able to carry their body, being very large (not much less than a goose) and exceeding fat.
This doubtless refers to Funk Island, Newfoundland, which was the main nesting site of the great auk in the Americas.
Chips Getting A Bit Too Frothy -- Cramer -- November 26, 2024
Locator: 44426CRAMER.
Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.
Consumer confidence: 111.7 vs 111.0. Best number since July.
Added to the bingo card drinking game: "fentanyl," "tariffs," and "leverage."
AAPL: up $1.75 for some unknown reason today. Oh, that's right. Christmas sales.
Autos: GM, Stellanis, Ford -- seeing significant drops in stock prices. Due to tariffs -- vehicles from Mexico -- GM is the poster child for such exports.
Philanthropy: at this rate, Buffett will be 150 years old before he gives away his billions.
Yesterday, it was announced Buffett gave $1.5 billion in BRK stock to his family's charitable foundations. As of October, 2024, Buffett's estimated net worth was $149.7 billion. I guess, like "regular" Americans, it's emotionally difficult to give up one's legacy.
X vs BS: matters not one bit to me, I'm on both sites, but so far, Bluesky is a liberal echo chamber. For investors, twitter is a much better choice. Threads? I've never even looked it up. The big question is whether Carl goes back to X? But, wow, Carl has gotten very, very chippy lately -- I guess he's not taking it well that CNBC is being spun off with MSNBC (Rachel Maddow and Morning Joe).
SpaceX, conflict of interest? Is NASA launching, on average, one rocket a year, now? From Forbes today --
Over the years, as NASA developed the rockets that put Americans on the moon and then the space shuttle, it amassed a collection of 38 rocket engine test stands at six sites across the country.
Many of them are massive structures, as tall as a football field standing on its end, that cost hundreds of millions of dollars to build or refurbish. Now most sit silent. Only 10 of the test stands are expected to be in use by 2026, NASA’s inspector general reported in September, primarily due to the shift in rocket development to private space companies like SpaceX.
The test stands are a microcosm of the problems NASA has been struggling with for decades: a sprawling array of aging facilities and systems that it doesn’t have the money to properly maintain, but which Congress resists pruning to protect jobs.
NASA has built up an agglomeration of more than 5,000 buildings and structures worth $53 billion spread across 134,000 acres in all 50 states. The expense of maintaining it all has become an increasing burden as the agency has aged. Now Donald Trump is returning to the White House on an avowed mission to slash government spending, with the help of billionaire and SpaceX founder Elon Musk.
Semafor: don't forget Semafor. A substack is Semafor Technology.
Cramer: expects AI prices to fall next week; talking of the more-speculative tickers.
NVDA: link here.
RIVN: I may have misheard, but Cramer said that Rivian won't be building that factory in Georgia. In later discussion, Cramer stuck to his opinion: it doesn't make sense.
LNG: my hunch -- Trump is getting tired of this:
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Disclaimer
Brief
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 something appears wrong, it probably is. Feel free to fact check everything.
- 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.
- Longer version here.
Back To The Bakken -- November 26, 2024
Locator: 44425B.
WTI: $69.32.
Wednesday, November 27, 2024: 42 for the month; 92 for the quarter, 619 for the year
- 40551, conf, CLR, Sandhill 3-24H,
Tuesday, November 26, 2024: 41 for the month; 91 for the quarter, 618 for the year
- 40672, conf, CLR, Carpenter 4-13H,
- 37938, conf, BR, Parrish 4C TFH,
RBN Energy: PetroChina's decision to give up TMX commitment puts focus on demand, logistics.
PetroChina’s recent decision to offload its 20-year commitment to use the Trans Mountain Pipeline expansion (TMX) might seem like a bit of a head-scratcher on the surface, especially since Asian buyers have been expected to take advantage of the increased access to Western Canadian crude oil that TMX provides. But when you factor in the known challenges of utilizing the new pipeline and the reduced demand for crude oil in China, PetroChina’s decision to sell its commitment to Canadian Natural Resources Limited (CNRL) starts to make sense. In today’s RBN blog, we look at the challenges buyers face in using the TMX system despite its obvious perks.
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