Tea leaves: Trump -- if we can't have all of Canada, we'll take Alberta. Link here.
- next up: build the Keystone XL.
Solar stocks: getting crushed today. Link here. Government incentives will be all gone by 2028 -- a presidential election year. These politicos are very, very clever.
Chips: I remember all the folks who said it couldn't be done. Link here.
- TSM just completed its first Arizona chip ru for AAPL, AMD, and NVDA -- over 20,000 wafers including Blackwell, A16, and EPYC.
- see the stable of Apple chips at this link;
- AMD's EPYC here.
2 nm (2-nm, 2nm), here it comes: link here.
************************************
Back to the Bakken
WTI: $71.77.
- Iraq's May oil exports to US surge past 5 million bbls; see US crude oil imports here;
- we've been here before
- a non-story
- AI: in May 2025, the United States imported 5.54 million barrels of crude oil from Iraq.
- this represents a significant increase compared to April 2025, when imports were 4.59 million barrels.
- the surge in imports reflects a sustained demand for heavier Middle Eastern crude grades in the U.S
- had the Keystone Xl been built, the US would have gotten this heavier oil from Canada;
- again, this "breathless" story from oilprice is a non-story except it shows how incredibly the US economy is
- this is not a good sign for EVs
- traders expect Iran-Israel hostilities to remain "contained";
- there are reports that Iran is interested in "talks" as long as they don't include the US
Active rigs: 32.
Seven new permits, #42014 - #42020, inclusive:
- Operators: Phoenix Operating (5); Murfin Drilling (2)
- Fields: Skabo (Divide); St Anthony (Dunn County)
- Comments:
- Murfin Drilling has permits for two LC Rambousek wells, SESE 9-141-97,
- to be sited 370 FSL and 275 / 305 FEL;
- Phoenix Operating has permits for five Gail Arnold wells, SESW 33-160-98,
- to be sited 440 FSL and 2153 / 2273 FWL.
