Locator: 50996B.
Later: Fed statement -- stunned the market -- went from 150 points up (very GREEN) to 50 points down (def RED). NASDAQ really dropped after "the Fed minutes" were read. Won't make Trump happy.
The Fed is now talking about three rate hikes this year. This was an incredibly bearish statement. This was as bad as anything Jay Powell did. By tomorrow all will be forgotten. During the "Q&A," I agree with the questioner who asked why the Fed did not raise the Fed rate based on what they wrote. My hunch: they raise rates AFTER mid-term elections. That would be the one rate raise this calendar year, but would occur in next fiscal year. During the "Q&A," the new Fed chairman sounds incredibly hawkish.
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Back to the Bakken
WTI: $76.78.
New wells reporting:
- Thursday, June 18, 2026: 24 for the month, 180 for the quarter, 337 for the year,
- 42418, conf, Kraken, Emerson 33-28-21 3H,
- Wednesday, June 17, 2026: 23 for the month, 179 for the quarter, 336 for the year,
- 42417, conf, Kraken, Emerson 33-28-21 4H,
RBN Energy: FERC starts a process to expand blanket gas pipeline authorizations. Link here. Archived.
The Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (NOPR) on May 21 proposing to apply its “blanket authorization” rules to a lot more natural gas pipeline projects than in the past. The goal is to make it easier for a broader set of projects to advance without having to go through full-blown regulatory certificate cases. In today’s RBN blog, we discuss the NOPR and what the planned rule change would mean for pipeline owners and developers.
Let’s start with the basics. A NOPR like the one just issued (see Figure 1 below) is a heads-up from FERC that it proposes to change its regulations and, as required by law, has asked for input from the public and the energy industry before those changes become official. We should note that a NOPR has a lot more oomph than other ways FERC can notify the public about regulatory changes in the works — it says the commission wants to make the change and it’s essentially a done deal unless there’s a compelling reason not to that it hasn’t already considered. The notice-and-comment process is required by the Administrative Procedure Act to build a record to support changes in the regulations. In contrast, an Advance Notice of Proposed Rulemaking (ANOPR) indicates that the language in a proposed rule change is still a work in progress. A Notice of Inquiry (NOI) is even less formal, suggesting FERC wants to open an examination into an industry issue and is looking for widespread input before ever getting to a proposal.
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Pageviews
Pageviews, 0707 hours, Wednesday, June 17, 2026 -- 60, 943,035
Pageviews: 60,854,609 at 1707 hrs, Tuesday, January 16, 2026.
88,426 / 14 = 6316
6316 * 24 = 151,587 extrapolated over 24 hours.
