Locator: 44473LNG.
GDPNow: 3.1 -- updated today; next update, tomorrow. For 4Q24.
Honda - Nissan: merger in the works?
Report: only 16% of Americans surveyed said they planned to spend more this Christmas than last year. Now this, reported today by CNBC:
- the November retail sales came in much higher than expected;
- retail sales returning to pre-Covid era
- also note: inflation not "falsely" raising sales this year compared to last year
- Thanksgiving weekend set a record: I guess those 16% are making up for the other 84% who said they were going to spend less than last year;
- now, economists expect a expect a record Saturday before Christmas
- records will be set despite one full week less between Thanksgiving and Christmas this year compared to last year
- "the American consumer is powering through this and they've been saving all year for this" CNBC guest expert on retail sales.
India: why this country wants to increase its birth rate. This is an incredibly misleading headline. Two states in India want to bring their birth rate to "replacement level." Fertility rates are not keeping up with death rates.
The country of India may or may not want to increase their overall birth rate, but this article suggests only two states want to increase their birth rates, and they are in the south, far from the highest population areas in the north. The two states are Andhra Pradresh and Tamil Nadu.
The latter is India's "silicon valley." Andhra Padresh is in the southeast and borders the Bay of Bengal to the east; the bay is the northeastern part of the Indian Ocean. It shares its southern border with Tamil Nadu, the southernmost state in Indian. Telugu, one of India's classical languages, is the primary official language and most widely spoken. Likewise, Tamil, one of the longest surviving classical languages in the world, is the official language of Tamil Nadu.
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Back to the Bakken
WTI: $69.41.
Thursday, December 19, 2024: 27 for the month; 130 for the quarter, 657 for the year
- 35511, conf, Enerplus, FB Clinton 148-94-29B-32-9B,
Wednesday, December 18, 2024: 26 for the month; 129 for the quarter, 656 for the year
Tuesday, December 17, 2024: 26 for the month; 129 for the quarter, 656 for the year
RBN Energy: a new entrant to tackle the Permians' dire need for gas takeaway capacity. Archived here.
Negative natural gas prices have been breaking hearts in the Permian
Basin for many years, with pipeline development struggling to keep pace
with rapid increases in associated gas production, but 2024 has
shattered all previous records for the severity and length of negatively
priced periods. The Matterhorn Express Pipeline, which started partial
service at the beginning of October, is helping to stabilize the market
for now, but with more production gains on the way, additional takeaway
capacity will be needed. And after this year’s run of negative prices,
producers have been willing to commit to new capacity.
A whopping 4.57 Bcf/d of new pipeline capacity has secured final
investment decisions (FIDs) since this summer, including two new
greenfield pipelines — WhiteWater Midstream’s 2.5-Bcf/d Blackcomb
pipeline took FID in August 2024, and then last week, Energy Transfer
sanctioned the Hugh Brinson Pipeline, which will provide at least 1.5
Bcf/d of additional takeaway capacity.
The incremental capacity provided
by these projects will be needed soon, as our forecasts indicate a
strong likelihood that capacity constraints will return in the early
months of 2026. In today’s RBN blog, we discuss Energy Transfer’s newly
renamed Hugh Brinson Pipeline — formerly the Warrior Pipeline — and
other recent developments in the Permian and examine how they will
reshape flows and basis throughout the wider region.
Oilprice: link here.
- 2024: on track to ship a record 86.9 million metric tons of LNG
- these volumes would be 0.8% higher than 2023
- more than any other country
- averaged 11.9 billion cfpd last year
- up by 12% compared with 2022
- pace of growth will be slower this year, to 12 bcfpd in 2024
- but next year, 2025, pace picks up: expected to jump a whopping 15%, near 14 bcfpd
- contributing to this increase:
- Plaquemines: just reached LNG production this past month;
- commissioning period to last 18 months
- Corpus Christi LNG Stage 3
