Thursday, February 12, 2026

How Are NASA's Artemis And Apple's AI Alike? They Never Launch -- February 12, 2026

Locator: 49971APPLE.

Tag: AAPL. 


 

For those with a 30-year horizon, this is awesome

 ****************************************
Apple's AI

From February 11, 2026: how are NASA's Artemis and Apple's AI alike? Neither launch

Locator: 49966ARTEMIS. 

A couple of weeks ago my x feed was filled with non-stop tweets about NASA's Artemis getting ready to launch .... back to the moon --- disingenuous --- not "back to (on) the moon," but rather simply "back to (a loop around" around the moon. The US first did that back in December, 1968 -- almost 58 years ago. 

But for the past week or so, I haven't been able to find a note about the Artemis launch. I've checked frequently. Zip. Nada. Zilch. So I got serious and checked again today.

Link here. Pushed back. Delayed. Scrubbed.

From February 3, 2026:

NASA is now targeting March, 2026, for the earliest possible launch of its historic Artemis II lunar moon mission, which will send four astronauts into deep space (to the moon) for the first time since the Apollo program ended more than five decades ago.

The decision came in the early hours of Tuesday, February 3, 2026, after NASA said it had completed a wet dress rehearsal, a crucial test of the towering rocket system that will launch the astronauts on an unprecedented path around the moon. The mission had been expected to lift off as soon as February 8, 2026.

NASA said it encountered several problems during the test after cold weather caused a late start, including running into issues with hydrogen leaks while filling up Artemis II’s Space Launch System rocket with propellant. The delay would allow teams to review data and conduct a second launch rehearsal, the agency said in a blog post. 

AI -- Monday, February 9, 2026

Locator: 49941TECH.

AI: where we are today -- intersection of AI and investing. Link to Axios.  

******************************
ChatBlog
BotBlog

Blogging + chatbots will end journalism as we know it. 

The Washington Post was the first to fall; it simply lost relevance. In fact, I think it's turning into a culture and sports medium. 

I think this might be my last year with The New Yorker. Will likely not renew. I don't know. That's a hard one.  

But I digress. 

Link here to The Marginalian

Right now: the chatbot interface is boring. BORING.

This reminds me of the change from the smart phones before the iPhone and the iPhone introduced by Steve Jobs in 2007. 

Someone is going to figure out how to make chatbot replies exciting. Steve Jobs, if so inclined, would have already solved the problem.  

I don't particularly care for Joanna Stern but she's got it figured out. Whether she can put it all together is the big question.

If Jason Gay follows Joanna Stern and jumps ship -- that will be the tipping point. 

Their problem: jumping through all the clutter. 

Joanna Stern probably earns $200K at The WSJ

Scott Adams: the best I can do is find a source that suggests he was worth north of $20 million when he died.  

Could Joanna Stern / Jason Gay and maybe a "Chuck Klosterman" start their own on-line AI-assisted blog to be the next big thing? Tech - Sports - Culture (music)? 

It's amazing -- it's amazing how often Lana Del Rey and Amy Winehouse absolutely fit my mood at any given moment while blogging. 

Yeah, I would love to see Stern-JasonDay-Klosterman wrapped in McSweeney's

The big question: how do we pay folks like Alison Ritter what they are really worth. To whom do you turn when you want to get a Bakken update? Alison Ritter.

Federal Employees -- Random Update -- February 12, 2026

Locator: 49972FEDERALJOBS.

Question: has the government been performing worse or better this past year? I really don't know. 

Link here.

Amazon: The $50-Billion Kingmaker -- AppEconomy -- February 10, 2026

Locator: 49951AMAZON.   

If Palantir is the ring to rule them all, then Amazon is the kingmaker. Google will be the communicator -- the go-between -- between humans and technology -- search and agentic chat.

Link here to appeconomy

This article is incredible.

May Mean Nothing -- February 10, 2026

Locator: 49954ROBINHOOD.  

Tag: Robinhood.

Link here

Pipeline Company Shipping Largest Amount Of LNG To Europe -- February 11, 2026

Locator: 49956PERMIAN.
Locator: 49956LNG.  

Clickbait: but lots of information regarding US LNG. Link here. It's the usual suspects; the big story here is the dominance of US energy -- 

  • ChatGPT: says it is Cheniere (LNG); and,
  • Gemini: says this -- 

 So, which company is it?


Without question, The Merchant was referring to Cheniere (LNG).

Amazon LEO -- February 11, 2026

Locator: 49958AWS.

Tag: Amazon LEO SpaceX 

Link here

AI prompt: Amazon LEO vs SpaceX. Can both succeed?

**************************
Spanish Harlem

The brilliance of Phil Spector.

Link here

The Washington Post Supports Trump's / EPA's Decision -- February 11, 2026

 Locator: 49959GLOBALWARMING.

The Washington Post laid off 14 of their 19 climate change / global warning reporters / staff -- why did The Washington Post have 19  climate change / global warning reporters / staff in the first place?

Climate change / global warmingThe Washington Post supports Trump's / EPA's decision. My hunch: Obama's fanaticism was going to significantly impact the fourth industrial revolution -- satellites and terrestrial large data centers. 

**************************
More

Link here

I'm Done -- February 11, 2026

Locator: 49960.

I'm done.

The tipping point came on the day that a US Winter Olympian skier said he was embarrassed to be representing the United States at the Winter Olympics in Italy. He said that while in Italy. He's getting paid by the US Olympics Committee to represent the US. This payment started in 2026 with the Milan Winter Olympics. 

I spent 30 years + a day in the USAF and loved every minute. But it was a calling.

Most of my acquaintances suffer from TDS. 

I did what what I could to make this world a better place, especially for the grandchildren. 

I'm done.  

Bidenomics And Inflation -- February 11, 2026

Locator: 49963BIDENOMICS.

AI prompt: the US personal savings rate dropped to one of its lowest points in June, 2022. What was going on in the US economy then?

Bidenomics


The real reason for inflation
: it's still hard to believe that the smartest economists and the smartest CNBC analysts still can't figure out why we had such high inflation in 2022 and 2023. At the end of the day, prices (and, subsequently inflation) are determined by supply and demand. Too many dollars chasing too few of what people want --> higher inflation. 

In 2022 - 2024: the perfect storm --> literally overnight,

  • the Covid-19 lockdown ended and pent-up demand from US consumers, exploded;
  • those US consumer had a gazillion dollars to spend (see above); and, again, literally overnight,
  • the US had three million uninvited guests that needed three things:
    • housing: that's why rents shot up;
    • food: that's why grocery prices shot up;
    • used cars: that's why the price of used cars shot up;
  • combined with fact that there was a supply shortage of parts that auto manufacturers needed, couldn't get, and cars become a real shortage 
  • eggs? Oh, give me a break. Bird flu decimated the flocks. This is not rocket science, but the media had to sell the news during the Biden administration, and then under Trump it became political. Quick: what's the price of eggs now and when did The New York Times last run a story on the price of eggs? 

********************************
US Personal Savings Rate

I don't recall when I last post the US Savings Rate. But after this morning's job report and the recent booming MMF figures, I was curious. 

Link here. If you look at the one-year or the three-year, the US savings rate might be concerning, but the five-year chart show nothing out of the ordinary.

Three-year:

Five-year

Influenza Update: Week 4, 2026 -- Posted February 11, 2026

Locator: 49964FLU.

Because of AI (chatbots), I have never felt so comfortable with my understanding of seasonal flu as I do now -- influenza A and B.

So, generally speaking there are two waves of influenza every season between October and May.

Today, a reply from Google Gemini said there were many reasons for those two waves, the lead reason being the "drift" of the antigenic strain over the season.

Google Gemini then said, as an example, the strain would drift from H3N1 to H1N2. 

In fact, that is so wrong. First of all, H3N1 and H1N2 are not strains, but rather sub-types.

Influenza:

  • A, B, C, D: the four types of influenza
    • type D, only recently discovered, affects cattle, never affects humans (not yet, and probably never)
    • type A: multiple sub-types, not strains; determined by surface antigens; HxNx; only two surface antigens: H and N;
    • type B: has no subtypes, only two lineages, which further branch into specific strains; the two lineages: B/Yamagata and B/Victoria; B/Yamagata has not been seen since 2000 (interesting, the year of Covid-19)
  • influenza B changes much more slowly and primarily affects humans

So, now, with that information we can follow "antigenic drift" for the rest of the 2025 - 2026 seasonal flu season.

First, week four of 2026:

  • where are we?
    • end of the first wave
    • beginning of the second wave, just beginning; off to a slow start
    • overall, all influenza (A and B) has decreased significantly since the start of the season, last autumn, 2025, but is now picking up slowly;
  • since last week:
    • percent of influenza A decreased week/week and influenza B increased slightly (again, as percentages but also as raw numbers);
  • now this is the interesting part:
    • earlier Google Gemini said the antigenic drift was due to subtype drift (H, N) so let's check that drift.
      • subtyping (remember, the type is A or B) has remained relatively unchanged for Type A
    • H1N1 (pdm09) [see below]:
      • September 28, 2025 (week 40): 11.6%
      • Week 4, 2026: 14.5%
    • H3N2:
      • September 28, 2025 (week 40): 88.4%
      • Week 4, 2026: 85.7%
    • H3N2v: 0% at week 40 (2025) and week (2026) [v = variant; usually swine]
    • H5: 0% at week 40 (2025) and week (2026) [A(H5) = avian]. See link.

So, gradual drift to H1N1 from H3N2.

This year's trivalent flu vaccine:

  • H1N1, H3N2, and B/Victoria.

I finally get it. 

****************************
H1N1(pdm09)
H1N1 pandemic 2009

This virus caused the first influenza pandemic of the 21st century and has continued to circulate seasonally since 2009 


Covid-19: after months of reading about influenza A and Covid-19, I am convinced that Covid-19 was an anomaly, and clearly due to "unusual" human-non-human interaction in the late summer of 2020 in China. 

Whether it was "an escape" from a lab or naturally occurring in a Chinese market, or somehow a combination of the two, is still debated. To say that researchers were not involved strains credibility, the fact that is first broke out where China's main bio-threats lab is located and researchers in China had so much of this sorted out so quickly.

My hunch: Chinese researchers (like American researchers) were aggressively monitoring avian/swine viruses in those Chinese markets, and either discovered a "new" virus or "developed" a new virus. 

My hunch: like Spanish flu (1918), Covid-19 was simply a previously-unseen flu virus.

Interestingly, Spanish flu was caused by an H1N1 subtype. It evolved and circulated for decades. 

Descendants of the 1918 virus continued to cause seasonal influenza, with the human H1N1 lineage circulating until around 1957 before reappearing in 1977.

The surface antigens of Covid-19 and influenza A are completely different and there is no antigenic cross reactivity.

  • Influenza A: two membrane surface antigens, H and N.
    • a segmented genome of eight separate negative-sense RNA strands
  • Covid-19: surface covered with Spike (S) glycoproteins (crown or corona); binds to ACE2 receptor
    • a single-stranded non-segmented positive-sense RNA; it encodes 11 - 12 functional proteiin-coding genes.

This is just one of many blogs on influenza this season.   

Ford Reports -- 4Q25 -- Huge Miss But Guidance Reassures Investors -- February 10, 2-26

Locator: 49953FORD.  

Link here


 

Shares rise after hours, after earnings reported:

On an unadjusted basis, the company’s net loss of $8.2 billion last year was its largest since the Great Recession in 2008, according to FactSet. That included $15.5 billion in special charges during the fourth quarter largely related to a pre-announced pullback in its all-electric vehicle plans. 

Automakers commonly exclude “special items” or one-time charges from their adjusted financial results to provide investors with a clearer picture of their core, ongoing business operations. 

 Ford reported a fourth-quarter net loss of $11.1 billion, or a loss of $2.77 per share, compared with net income of $1.8 billion, or 45 cents per share, in the same period in 2024. Adjusted for the one-time charges, the company reported earnings of 13 cents per share.

Chatbot Data Points -- February 11, 2026

Locator: 49965CHATBOTS.

Google Gemini, first party models

  • 10 million tokens / minute; Beth;
  • the app: 750 million active users / month 

How Are NASA's Artemis And Apple's AI Alike? They Never Launch -- February 11, 2026

Locator: 49972APPLE.

Tag: AAPL 


 

For those with a 30-year horizon, this is awesome

 ****************************************
Apple's AI

From February 11, 2026: how are NASA's Artemis and Apple's AI alike? Neither launch

Locator: 49966ARTEMIS. 

A couple of weeks ago my x feed was filled with non-stop tweets about NASA's Artemis getting ready to launch .... back to the moon --- disingenuous --- not "back to (on) the moon," but rather simply "back to (a loop around" around the moon. The US first did that back in December, 1968 -- almost 58 years ago. 

But for the past week or so, I haven't been able to find a note about the Artemis launch. I've checked frequently. Zip. Nada. Zilch. So I got serious and checked again today.

Link here. Pushed back. Delayed. Scrubbed.

From February 3, 2026:

NASA is now targeting March, 2026, for the earliest possible launch of its historic Artemis II lunar moon mission, which will send four astronauts into deep space (to the moon) for the first time since the Apollo program ended more than five decades ago.

The decision came in the early hours of Tuesday, February 3, 2026, after NASA said it had completed a wet dress rehearsal, a crucial test of the towering rocket system that will launch the astronauts on an unprecedented path around the moon. The mission had been expected to lift off as soon as February 8, 2026.

NASA said it encountered several problems during the test after cold weather caused a late start, including running into issues with hydrogen leaks while filling up Artemis II’s Space Launch System rocket with propellant. The delay would allow teams to review data and conduct a second launch rehearsal, the agency said in a blog post. 

Micron -- Update -- February 11, 2026

Locator: 49969MICRON.  

I think it was less than a week ago Micron dropped on concerns it would not have its new memory chips available until 2H26.  

Today, link here

Ticker, 5 days: 


Ticker, one year:

************************
A Musical Interlude 

Link here.  

Book Page -- Spanish Flu -- Covid-19 -- February 11, 2026

Locator: 49971COVID.

I really have no interest in discussing Covid-19 with anyone who has not read one or two books on the disease -- "my Covid library" at this post

And now I've added another book to that library: Pale rider: The Spanish Flu of 1918 and How It Changed the World, Laura Spinney, c. 2017. 

Wow, talk about a great author -- she can really tell a story -- I would have enjoyed a bit more science but it was incredible -- how much stuff she covered. Her narrative, again, reminds me what Dr Fauci and his counterparts around the world were facing. Anyone disparaging Dr Fauci has no clue.  

Ideologues. Who? Me? February 11, 20

Locator: 49967COAL. 

US military coal: President Trump orders US military to buy power from coal plants, for security. Link here

Link here

We're the ideologues! LOL. 

The Sierra Club headline:

The correct headline

Winter Storm Fern, January, 2026, reminded us:

US Savings Rate -- Update -- November, 2025, Data -- Posted February 11, 2026

Locator: 49962SAVINGS.

I don't recall when I last post the US Savings Rate. But after this morning's job report and the recent booming MMF figures, I was curious. 

Link here. If you look at the one-year or the three-year, the US savings rate might be concerning, but the five-year chart show nothing out of the ordinary.

Three-year:

Five-year

********************************
Flashback


From May 6, 2025
 

Locator: 48599ARCHIVES.

Noteworthy: even among war-time presidents, I can't think of any administration that has been more "amazing" than the current administration. Executive orders and judicial over-reach: SCOTUS has effectively put a stop to the craziness. 

US personal savings rates, link here:

Measles: number of measles in Texas now goes over 700 cases -- 702 cases 

  • 91 with history of hospitalization
  • two fatalities in children; neither had known underlying conditions

SCOTUS: with ruling on trans / military today, the US Supreme Court telegraphs how it plans to thread the needle. I don't follow the US judicial system to know the backstory, but I assume SCOTUS is taking a page from the playbook of bygone eras. Perhaps from the FDR era? 

NBA tonight -- it's going to be tough to "beat" last night's games. Tonight:

  • Pacers vs Cavaliers, early game;
  • Warriors vs Timberwolves, late game
    • Steph Curry vs Minnesota

AMD delivered: nice report. Link here. Certainly doesn't feel like a recession.
data center revenue has grown at a 56% CAGR over the past four years; link here

PLTR: down 11% -- as low as 13% down --  today after absolutely crushing earnings ...

Super Micro: lowers guidance.

CHORD out with results

DEVON out with results.

  • "stunning" drop of 5,000 bopd oil volumes quarter / quarter in their Delaware Basin as per today's earnings release;

BRK, 1Q25, link here. Has anyone really looked at this graphic?

Lucid: shares rise; "earnings were good enough."

Senator John Fetterman, trending. And not in a good way.

India and Pakistan: war breaking out? This never would have happened under a Biden presidency.
Canada / US: to see Indian-Pakistani conflict across the continent; many westerners will be shocked; the cost of mass immigration with zero assimilation.

China is in deep financial trouble and Trump knows it.So do "thinking" Democrats.

RFK, Jr.: I may be whistling past the graveyard, but my hunch is RFK, Jr, will cause no long-lasting damage to health care in the United States. I can imagine some good coming from his craziness. But again, I may be whistling past the graveyard.

Zuckerberg: Latest Californian Billionaire To Move To Florida To Avoid The Wealth Tax -- February 11, 2026

Locator: 49968CALIFORNIA. 
Locator: 49968TAXES. 

Link here

Really? How much time do these billionaires spend at their primary homes anyway? And how many homes do they have? Six months / year needed to establish residency.

Cramer's First Ten Minutes -- February 12, 2026

Locator: 49970CRAMER.

Miscellaneous

Jobs: prime-age labor force participation rate rose to 84% in January -- highest since March 2001 -- no typo -- since 2001 -- that's 24 years ago. A lot of those folks can now afford iPhones and MacBook Air laptops.  


I wonder if the chart aabove will help Steve Liesman sort out the data. From yesterday: 

Jobs reports was a stunner -- in a good way!  Blockbuster! Huge revision on the upside. 130K vs 55K. Way better than expected.

Unemployment rate drops from 4.4% to 4.3%. Average hourly earnings actually drops a bit. No wage inflation. Steve Liesman is confused. Probably greatly upset. Steve Liesman says "take the numbers with a grain of salt." Global GDP will take off; led by the US. CNBC is having trouble saying these are good numbers. Steve Liesman says we need to wait for another sample. It gets tedious. LOL. NYTimes jobs report here. Incredible amount of good news, surprising news.

*****************************
Cramer's First Ten Minutes 

Comments later.

Cramer is off today and wow, what a boring show when he's not on. Mike Santoli is really, really good but doesn't add much with the other two -- three clones. Cramer really plays off the other two nicely. So, done with that show at 8:21 and off the net and the business shows until late this afternoon. Good luck to everyone.

AAPL dividend paid today. 

Crawler today:

  • all major indices green
  • AMD: up $2
  • MU: up $14
  • CMI: up $10
  • CSCO: down $6
  • QCOM: up $1
  • ORCL: up $1
  • INTC: flat to slightly negative
  • CAT: down $1
  • TSM: up $6 

Last week at monthly Schwab luncheon: discussing bonds and difference between 3.4% and 3.3%. And that topic is held in rotation every four months. And how bonds should be a part of one's portfolio. 

META -- Indiana -- February 12, 2026

Locator: 49969LDC.
Locator: 49969META.  

Large data centers are tracked here

Beth

Evan

Yahoo!Finance

Lebanon, Indiana. On I-65 northwest of Indianapolis; direct shot to Chicago. 

$10 billion.

1 GW. That's the standard now. 

META will pay for all energy needs for 20 years.

Why META choose Lebanon, Indiana:

  • available land in the LEAP (Limitless Exploration/Advanced Pace) District;
  • robust utility capacity;
  • significant state/local tax incentives;
  • location supports rapid construction;
  • near major infrastructure routes;

Thursday, February 12, 2026

Locator: 49968B. 

AI: making investing so much more interesting. Today, the META/Indiana headline. I can go directly to AI, ask the questions that I need answered. Much more efficient than reading AP stories. Reuters stories always have a paywall. Paywalls no longer matter. 

Apple: unexpected surge in iPhone 17 sales in China. Nice. Link here. AAPL paid its dividend today. 

META: Indiana. 

 ****************************
Back to the Bakken

WTI: $64.33. Not doing anything until at least after the second a/c carrier gets there. Meeting between Netanyahu and Trump should be pretty much over; sort of like FDR and Churchill, I suppose. 

New wells reporting

  • Friday, February 13, 2026: 20 for the month, 73 for the quarter, 73 for the year,
    • 41353, conf, Hess, GO-Beck Living TR-156-98-2017H-2, 
  • Thursday, February 12, 2026: 19 for the month, 72 for the quarter, 72 for the year, 
    • None.

RBN Energy: efforts to plug orphaned oil and gas wells can help cut methane emissions too. Absolutely no interest.

 

Wednesday, February 11, 2026

Murex With Two New Permits -- Thursday -- February 11, 2026

Locator: 49970B.

Global economy: Trump has been predicting this for quite some time -- global economy on fire! Japan stocks extend post-election rally with Nikkei 225 breaching 58,000 for the first time.

Tariffs: revenue soars more than 300% as US awaits Supreme Court decision.

Jobs: surprisingly strong January growth -- but nattering nabobs of negativity continue to question the data -- want to see another month's worth of data -- it gets tedious. 

Bill Ackman: Meta, Amazon, Hertz.  

**************************
Back to the Bakken 

WTI: $64.96.

Active rigs: 26.

Two new permits, #42707 - #42708:

  • Operator: Murex Petroleum Corp
  • Field: Tioga (Burke County)
  • Comments:
    • Murex has permits for two MS wells -- MS-Opdal and MS-Karen Sue, lot 4, section 31-159-94, spacing unit, sections 31 - 32:
      • to be sited 400/430 FSL and 360 FWL.
      • a pad is already located there, with #41408 and #41409;
      • no producing wells of interest in the immediate area; a couple of miles away, some mediocre wells; many operators in this area.

*********************************
Random Look At Area Of Activity

Several miles away from area noted above. South of Beaver Lodge, north of the river. 

Cramer's First Ten Minutes -- El Paso FAA Ban Lifted -- Wednesday, February 11, 2026

Locator: 49961CRAMER.

WTI: up $1.59; trading at $65.55.  

Before the open: holy mackerel! 

  • AAPL: up 57 cents 
  • CAT: up $13.63
  • GEV: up $30
  • Micron: up $22 -- top gainer in the S&P 500 this morning
  • NOG: up 36 cents
  • SCCO: up $7
  • AMD: up $2.51
  • GLW: up $2.91
  • NVDA: up $2.90
  • ORCL: up $3.64

TSMC: hit an all-time high today; $50 billion away from "the $2-trillion club." Evan.

Mattel: worse day in its history (market, share drop) 

Cramer is off for the week.

At the open: it's going to be huge. Profit-taking by the close. 

US stock futures jump. Jobs reports was a stunner -- in a good way!  Blockbuster! Huge revision on the upside. 130K vs 55K. Way better than expected.

Unemployment rate drops from 4.4% to 4.3%. Average hourly earnings actually drops a bit. No wage inflation. Steve Liesman is confused. Probably greatly upset. Steve Liesman says "take the numbers with a grain of salt." Global GDP will take off; led by the US. CNBC is having trouble saying these are good numbers. Steve Liesman says we need to wait for another sample. It gets tedious. LOL. NYTimes jobs report here. Incredible amount of good news, surprising news.

LYFT: oh-oh. LYFT drops 16%. Earnings report: every number great except rides which dropped significantly. 

Robinhood: continues to fall. But all brokers fell yesterday. 

Vertiv Holdings: a $7-stock four years ago; today -- $235. Cooling services for large data centers. Last company mentioned on this page: link here. Alphabet's cooler. 

El Paso: all flights to El Paso stopped for ten days due to security reasons. FAA. No explanation. No rumors. Crickets. One of three top stories on Cramer's first hour. Do we get more information? Fallout from Venezuela / Maduro story? Breaking! FAA lifts the ban -- it was in effect for less than 24 hours. Later: due to Mexican drug cartel drones; neutralized by US DOD/DOW.  Something tells me this could be pretext for President Trump to take more decisive action with regard to Mexican drug cartels. At a minimum, the Mexican ambassador to the United States will be visiting with select members of the Trump administration. Party balloons? My hunch: more to the story.

*********************************
Nebraska? 

No wonder Warren Buffett liked Nebraska. 

Link here

GPUs Vs TPUs -- Broadcom Vs Nvidia -- February 11, 2026

Locator: 49957TPUS.

Broadcom vs Nvidia, at Barron's: link here


Wednesday -- February 11, 2026

Locator: 49955B.  

Climate change / global warmingThe Washington Post supports Trump's / EPA's decision. My hunch: Obama's fanaticism was going to significantly impact the fourth industrial revolution -- satellites and terrestrial large data centers. 

North Dakota: doesn't often get mentioned by Liz Ann Sonders , link here --  

Clickbait: but lots of information regarding US LNG. Link here. It's the usual suspects; the big story here is the dominance of US energy -- 

  • ChatGPT: says it is Cheniere (LNG); and,
  • Gemini: says this -- 

Without question, The Merchant was referring to Cheniere (LNG).

******************************
Back to the Bakken

WTI: $65.34. Iran:

  • once the Olympics are over;
  • once the second a/c is in the region

New wells reporting:

  • Friday, February 13, 2026: 20 for the month, 73 for the quarter, 73 for the year,
    • 41353, conf, Hess, GO-Beck Living TR-156-98-2017H-2, 
  • Thursday, February 12, 2026: 19 for the month, 72 for the quarter, 72 for the year, 
    • None.
  • Wednesday, February 11, 2026: 19 for the month, 72 for the quarter, 72 for the year,
    • 41240, conf, Hunt, Clearwater 157-90-13-12H-2, 
    • 41239, conf, Hunt, Clearwater 157-90-13-12H-1, 
    • 41005, conf, Hunt, Palermo 156-90-2-31H-2, 

RBN Energy:  mom-and-pop shops remain the heart of the retail propane industry. Link here. Archived.

The retail propane market delivers about 9 billion gallons to U.S. consumers each year, with its heart anchored in the “mom-and-pop” retailers serving rural and small-town communities. These small, owner-operated businesses — the backbone of the market — know their customers, regions and their challenges, which is a key reason the propane industry is thriving and has avoided the sweeping consolidation seen in so many other sectors of the small-business economy. In today’s RBN blog, we’ll examine why the small-business model has been so durable and effective in retail propane, and why the industry has seen relatively little large-scale consolidation.

In the past few weeks, the retail propane market has navigated a challenging stretch and emerged remarkably well. Winter Storm Fern hit parts of the country with some of the toughest conditions in recent memory, as bitter cold drove high demand and snow and ice made transportation very difficult. Plus, there were freeze-offs and refinery issues cutting into supply. We can’t publish a propane blog so soon after the storm without acknowledging the industry’s strong performance under pressure. The industry deserves kudos for a job well done, but it’s not quite spring yet. There is still some winter left.

We’ve written a lot about the propane industry and its structure in recent months. In Part 1 of our propane series, we outlined the journey of propane from wellhead to burner tip and discussed the various segments of the domestic market, including industrial, petrochemical, commercial, residential and agricultural demand. The wholesale-to-retail value chain starts at processing plants and refineries (left column of Figure 1 below), where propane is extracted and often placed into underground storage. In Part 2, we detailed the role of wholesalers (middle column), the companies that sell propane to retailers by aggregating supplies, operating logistics networks, trading physical volumes, and other supply functions. Wholesalers help move propane through pipelines and railcars to retailers (right column), which range in size from small, owner-run operations serving a local market to companies with fleets of railcars and dozens of supply points. In Part 3, we outlined retailers’ roles and functions in the market. 

Today, we take a deeper look at propane retailers and why even smaller and midsized operations have been able to thrive without the large-scale consolidation seen in many other markets. (All these topics and more are discussed in detail in our Propane Master Class Encore, which is now available online. Much more on what’s included in the class below.)

Tuesday, February 10, 2026

Three New Permits -- February 10, 2026

Locator: 49952B.  

Dividends: companies that pay dividends in February -- link here. Some:

  • AAPL
  • ASML
  • ABBV
  • CAT
  • SCCO
  • BK
  • EPD
  • BKR
  • OKE

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Back to the Bakken 

WTI: $64.28.

Active rigs: 26. 

Three new permits, #42704 - #42706, inclusive:

  • Operator: Formentera Operations
  • Field: Frazier (Divide County)
  • Comments: 
    • Formentera Operations has permits for three Palomino Ridge permits, SESW 16-161-97, 
      • to be sited 546 FSL and 1670 / 1740 FWL.

One permit renewed

  • 41563, Silver Hill Energy, Rice E....East Tioga (Mountrail County)

Four permits canceled

  • Kraken (3): three Leslie 42X.... permits; McKenzie County;
  • Five States: one RH 1-15H permit, Stark County.

Trillion-Dollar Club Investing -- Number 3 In A Series -- February 10, 2026

Locator: 49953INVESTING. 

AI prompt: although the fourth industrial revolution (AI) became "a thing" in 2016, it seems the tipping point for mom-and-pop retail investors was 2021 (maybe 2022) after the end of Covid. Thoughts?

Google Gemini

"Trillion-Dollar Club" Investing -- Number 2 -- February 10, 2026

Locator: 49952INVESTING.   

Investing, not trading.

Buy and hold, literally forever. Taken to extremes, poor outcomes.

Concentrate on sectors.

1980s - 1990s, beginning to invest, age 30 - 45 -- 

  • mutual funds (three)
  • individual stock picking -- two sectors:
  • energy (Big Oil); and,
  • communications (ATT)

1990s - 2010s, great anxiety about my investing strengths; raising a family, age 46 - 60 --

  • mutual funds
  • IRAs
  • Roth IRAs
  • TSP
  • I was maxing out my investing; I literally thought about the market 24/7 (along with work, and family)

2010s - 2020s, glide slope, but up and to the right, rolling horizon, each day: 30-year + one day --

  • at crossroads: individual stock-picking vs ETFs 
  • foundation in place:
    • insurance
    • pension
    • retirement accounts
    • established portfolio
      • heavily weighted in AAPL and energy (CVX, COP, ENB, EPD, etc)

2022: then things changed -- 

  • although the fourth industrial revolution was a "thing" as of 2016, for the mom-and-pop retail investor, the tipping point came in 202- 2022 -- 
  • go to this link, to be continued. 

 

Trillion-Dollar-Club Investing -- Number 1 In A Series -- February 8, 2026

Locator: 49937INVESTING.

Investing: this is meant for the extended family; this is not for the general audience. It's the fastest way I can reach my entire extended family. This is not an investment site. See the blog's disclaimer. 

A publicly-traded company with a market cap of $1 trillion looks intriguing:

  • obviously the company is doing something right;
  • dollars buy talent; access; leverage; 
  • winners attract big money investors;
  • the money moat

February 6, 2026:

  • Walmart: newest member, as of February 6, 2026; link here.
  • the Magnificent Seven: AAPL, MSFT, GOOG, AMZN, META, TSLA, NVDA
  • others: BRK, Broadcom (AVGO), TSM, Eli Lilly 

Racking and stacking:

  • WMT
  • GOOG
  • AAPL
  • AVGO
  • .
  • .
  • AMZ 
  • .
  • .
  • BRK

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First Among Equals

WMT

  • the pivotal moment: decision to move from NYSE to NASDAQ, December 9, 2025;
  • no small achievement for a traditional retail company to join the club;
  • silently took the lead in drone delivery in the US

Broadcom (AVGO)

  • critical for Google's Gemini success: Broadcom makes the chips

AAPL:

  • slowly but surely; consistent; 
  • not chasing cash; chasing fabs but has best supply chain among the group 
  • seldom makes a misstep; if they do make a misstep, able to recover
  • "an n of 1": Apple ecosystem; from wristwatch to desktops to studio monitors
  • supercycle begins and this is before the foldable phone, AI, and iPhone battery dominance

GOOG:

  • hitting on all cyliners, 
  • even among the other trillion-dollar club members, GOOG is now the standout; 

AMZN:

  • looks like it's ready to widen the moat 

******************************
Other End Of The Spectrum

Bottom of the barrel: 

  • MSFT: all of a sudden, cracks showing?
  • BRK: a mediocre mutual fund; no dividends; what's the appeal?

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The Rest

The other half dozen or so:

  • your call;
  • not interested.

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Disclaimer
Briefly

Briefly

  • I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken.
  • 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 Bakken, 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. Nvidia is a metonym for AI and/or the sixth industrial revolution.
  • I am also inappropriately exuberant about all things Broadcom.
  • Longer version here.   
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