Locator: 48716B.
EU-US trade deal: this is the most weird story yet regarding trade deals. With regard to the EU-US trade deal on oil and natural gas:
- after the deal was "signed, sealed, and delivered," the European Commission president Ursula von der Leyen, said or was said to have said she had no authority to make such a deal;
- the European Commission cannot direct European nations to buy any certain amount of oil and/or natural gas from America, or any other country, even if that country is run by President Trump
- then it's being reported that there's no way "Europe" could even begin to pay for as much oil and/or natural gas that UVDL apparently negotiated;
- then it's being reported that the US couldn't produce that much oil and/or natural gas even if Europe said they would buy that much natural gas ...
- "Europe wants more US gas than exists" -- headline over at oilprice, link here.
- which also turns out not to be true; the US has that much natural gas, but not yet the export facilities to export that much natural gas; but, and we should put this in bold red:
- despite record LNG exports and several projects under construction, the US lacks the short-term infrastructure to meet the massive increase in demand.
- note the hyphenated word "short-term"
- to which President Trump said, "well, you never know, but the US can build a lot more export facilities." Paraphrased.
- everyone agreed that a "bad" deal was better than no deal at all
- then they all went for tea; except President Trump who went to play a round of golf, while a lone gunman with a long gun (an assault rifle) -- apparently with a permit for open carry -- or not -- walked down a Manhattan avenue (or maybe a street), calmly walked into a highly secure NYC skyscraper and shot four people dead before killing himself.
- saving New Yorkers a lot of money with no need for a murder trial
- NYC officials, and NYC journalists appeared to agree, that security could not have been any tighter.
From oil price:
Tsunami alert: still watching and waiting.
Headline over at oilprice, link here:
- but not because of any reindustrialization or anything like that, but because Germany experienced a colder winter than usual; and,
- renewable energy couldn't meet the need;
- so Germans had to use increased amounts of natural gas and coal to meet heating needs
- the whole article deserves a stand-alone post
- in fact, any article by Charles Kennedy deserves a stand-alone post. Maybe later.
- this summer, by the way, Germans are using more portable air conditioners (bought from China because Germany apparently can't make their own) than ever before due to excessive heat -- probably because it's summer, and most Germans have visited the United States (mostly Florida) and now know that something called "air conditioning" has been invented.
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Back to the Bakken
WTI: $69.31
Active rigs: 31.
Two new permits, #42164 - #42165:
- Operator: Devon Energy
- Field: Alger, Moutrail
- Comments:
- Devon Energy has permits for two Clifford Bakke wells, ENW 26-155-92,
- to be sited 356 / 446 FNL and 1849 FWL.
Marathon resurveyed locations for five locations in Dunn County.
Hunt Oil resurveyed locations for two locations in Mountrail County.
