Locator: 484434MSFT.
Thursday, January 30, 2025
Global Climate Change Economy Teeters -- January 30, 2025
Locator: 48443GREEN.
Global climate change economy teeters: Bloomberg link here.
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For The Archives
I flew with the 525 TFS, Bitburg Air Base, Germany, from 1984 - 1986, and again, from 1989 - 1993, also Bitburg AB, Germany. My primary a/c was the F-15.
In the photo below, the F-15 is the second a/c from the POV of the aircrew member pictured.
The 525 TFS mascot: an English bulldog, or "the bulldog."
RMDs -- New Rules Take Effect -- January 30, 2025
Locator: 48442RMDS.
This post is for my edification and to share with my extended family. It is not meant for others and should not be read by others.
Disclaimer: I often make typographical and content errors. I often misread and misunderstand news stories. News stories may be subject to error and may be confusing for some readers, including me. Do not make any financial decisions based on what you read here or think you may have read here.
I don't think there is anything new here.
I don't think the rules are confusing, necessarily, it's just "hard" so articulate them in language that can be "easily" understood.
Three questions (and their answers) might be confusing to some:
- what if I inherited an IRA before 2020: the new rules don't apply;
- what if I inherited a traditional IRA after 2019 from someone who had not yet started taking RMDs: annual withdrawals not required, but 10-year rule applies;
- what if I inherited a traditional IRA after 2019 from someone who had begun taking RMDs: annual RMDs are required using same rules as the original owner of the IRA, and the 10-year rule applies.
To help understand this, it makes sense to think about why Congress mandated these changes:
- with regard to a traditional IRA, Congress wanted these retirement accounts to be used as retirement accounts and not as never-ending vehicles for wealth accumulation.
These two paragraphs were NOT a bit confusing but I would be careful with two of the paragraphs --
As I understand it:
- for those who inherited a traditional IRA after 2019 from someone who had reached the age of requirement for taking RMDs --
- whether that individual had started taking RMDs or not -- beneficiaries are required to take annual RMDs per rules and are subject to the 10-year rule -- and again, that's how I interpret it and could be very wrong and/or could be misunderstood.
- RMDs for these folks is based on the age of the original owner of the traditional IRA
This is huge and I don't think folks are necessarily aware: inherited Roth IRAs are subject to the 10-year rule but not the annual RMD rule, years 1 - 9.
Regulations -- January 30, 2025
Locator: 48441EVS.
Background: here in Grapevine, TX, one of the larger shopping malls is "Grapevine Mills." I assume the number of parking spaces number in the 1,000's? So now this, the "top story" from our daily/local "business" newspaper:
I never imagined that on private property, as such, parking spaces were "regulated" by the city. With the interest in EVs for the past dozen years and with the huge penetration of Teslas in the local area, it's a "top story" when a huge mall plans to add three -- count 'em -- three new rapid-charge stations. Three.
I don't know how long the regulatory process for this project has been in the works, but "the action comes more than a year after the city established new regulations around electric vehicle chargers."
Finally, "a site plan filed with the city shows plans to convert 12 parking spaces into six charging stations. No other site plan changes are proposed for the project."
Thousands of parking spaces; three new EV charging stations now with three more to go. And that's it after all these years of talk about EVs. Maybe I'm missing something, but this simply seems mind-boggling.
It would be interesting to know the pros and cons raised by the Grapevine city council.
There are currently ten -- count 'em -- ten EV charging stations operating in Grapevine. As of January 21, 2025, nearly 1,000 EVs are registered in Grapevine.
Somber Morning -- January 30, 2025
Locator: 48440B.
WMB: increases dividend, from 47.5 cents to 50 cents / share.
VLO: beats. Previously announced: ups dividend from $1.07 to $1.13.
Secretary, US DOT: Sean Duffy, wiki:
Silence is deafening: Reagan crash: what hasn't been released by US Army yet.
US skating team: members on downed a/c. Sixty four souls on board; 28 bodies recovered; no survivors reported -- official as of early morning, Thursday, January 30, 2025, about twelve hours after incident.
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Back to the Bakken
WTI: $72.45
New wells:
- Friday, January 31, 2025: 46 for the month, 46 for the quarter, 46 for the year,
- None.
- Thursday, January 30, 2025: 46 for the month, 46 for the quarter, 46 for the year,
- 40488, conf, Grayson Mill, Wahus 12-1F XE 1H,
RBN Energy: bidders to soon get a second shot at CITGO's US refineries, other assets.
The bitter, eight-year legal battle over the fate of CITGO Petroleum’s three U.S. refineries, related pipelines and terminal assets appeared to be at an end last fall, when a federal court gave the green light to Elliott Investment Management’s Amber Energy to purchase the assets for $7.3 billion. But instead of putting an end to the drama, the court restarted the bidding from scratch on December 18. In today’s RBN blog, we’ll discuss what the court’s ruling means for CITGO and its refineries, which have a combined capacity of more than 800 Mb/d.
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