End-Of-Day Report -- July 23, 2026

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4IR: No one mentions that we are still in the opening stages of the Fourth Industrial Revolution but that's where we are. After Intel's (INTC) earnings, it's hard to wait for earnings from AMD, TSM, MU, others. 

I can't keep up with everything, so I may just post some bullets for now.

INTC: Gene Munster is absolutely not impressed with Intel. He didn't say but he certainly implied it, "Intel is all hat, and no cattle." Gene Munster would suggest folks look at / compare the P/E of NVDA and INTC and the market cap of these companies. 

Railroads: holy mackerel.

One of my favorite sectors: railroads. 

CSX, UNP, and Norfolk Southern (NSC) all hit new 52-week highs today on a very, very tough day in the market. BR was one of a handful of the first companies I invested in back in the 1980s and have continued to do so through today. Another "railroad company," BRKB, finally had a good day on the market. I guess with the tech sell-off, folks had to put their money in defensive stocks. 

Defensive stocks: speaking of defensive stocks, my favorite financial data point to follow is money market funds under management. Down for the second week in a row, link here.

Blackstone and BlackRock: the history of these two companies is absolutely fascinating. 

BlackRock, Inc. is an American multinational investment company. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is by far the world's largest asset manager, with $15.3 trillion in assets under management as of 2026. 

Headquartered in New York City, BlackRock has 70 offices in 30 countries and clients in 100 countries. BlackRock has a massive presence in Texas. The firm manages roughly $400 billion in assets across the state, including over $115 billion in the Texas oil and gas sector alone. It has a major corporate office in Dallas.

Apple and Ford have partnered (announced today, a big, big deal). GM will have nothing to do with Apple or Android, preferring to deveolp an in-house mapping and entertainment system. Consumers have found a work around.

Grocers: Albertson's -- the grocer -- reported today -- not good results. 

I enjoy following this sector but have not invested in it. We have Whole Foods (Amazon), Market Street, Target, Kroger's, HEB (a Texas icon much like Buc-ees), Albertsons /Tom Thumb, Target, and Walmart all within a two-or-three mile radius, four of which I can bike to in minutes. 

Market Street is owned and operated by The United Family, which is a wholly-owned subsidiary of Albertsons Companies. 

As much as I looked forward to the new HEB that just opened just down the street from where we live, Walmart is still clearly my favorite for everything. My wife's favorite is Market Street, somewhat more expensive but the best shopping experience, bar none.

Tech deals: it certainly appears that AMD and Micron are mentioned everywhere when deals are being made with hyperscalers.  

Oracle is surging after hours. Trump's best friend got a ten-year, $7 billion with the Pentagon. Hmmm. I sold all my Oracle (sold at a loss) but allowed me to use that cash to invest in three other companies. Whoo-hoo! By the way, the Oracle news seems exciting but it's $7 billion over ten years. The hyperscalers are doing deals that make the Oracle-Pentagon deal a rounding error. 

The Re-Scheduled White House Correspondents' Dinner. I pay a lot of attention to seating at these political dinners and the list those who are attending. One source provided a list which puts Doug Burgum and Christ Wright very near the top of the list. They were both higher than Hegseth, Bessent, Lutnick, and RFK, Jr. This was a very, very interesting "ranking." Of course, more interesting were the few in the Trump administration that were invited. I have no idea why the NASA administrator was invited. Oh, he's a billionaire entrepreneur. But still, there's a lot of those folks 

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

WTI: $92.19.

Active rigs:

new permits, # 

*********************************
Disclaimer

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've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom. Now, I've added Amazon. And QCOM.

 

Off Of Most Folks' Radar Scope -- Until Now: Oil -- July 23, 2026

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Correspondents' Association Dinner -- Tomorrow, July 24, 2026

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Correspondents' Association Dinner: 

The rescheduled White House Correspondents' Association dinner will take place on Friday, July 24, at the Waldorf Astoria Hotel in Washington, D.C. 

Here's the lineup: 

• White House press secretary Karoline Leavitt 
• Acting Attorney General Todd Blanche 
• FBI Director Kash Patel 
• Education Secretary Linda McMahon 
• Small Business Administration Administrator Kelly Loeffler     
• Interior Secretary Doug Burgum 
• Energy Secretary Chris Wright 
• Homeland Security Secretary Markwayne Mullin 
• War Secretary Pete Hegseth 
• Treasury Secretary Scott Bessent 
• Commerce Secretary Howard Lutnick 
• Health and Human Services Secretary Robert F. Kennedy Jr. 
• Acting Labor Secretary Keith Sonderling 
•  NASA Administrator Jared Isaacman 
• U.S. Trade Representative 
• Ambassador Jamieson Greer 
• Army Secretary Daniel Driscoll 
• Ambassador to the United Nations Mike Waltz

Anticipation -- AMD -- July 23, 202

Locator: 51233INVESTING.

Updates 

WTI: about 7:30 a.m. CT, trading at $90.95. 

Originall Post 

CNBC is reporting at that WTI has solidly crossed $90 / barrel, up almost 4% overnight. Highest level since June 11, 2026.

The "moon race" between China and the US has now become the "AI race." 

Whoo-hoo! Spectrum service has been restored. Spectrum suffered a 9-hour outage. If this were FIFA Soccer, we would be give +540 minutes stoppage time. 

Both TSLA and GOOG each had a rough earnings call -- huge CAPEX announced for CY2027. Both had negative cash flow this past quarter.

Futures.  

As it stands now, based on futures, four hours before the open, AMD is going to surge.

As is MU.

GLW will do well.

We will see some profit taking over at SCCO.

CSX will have a nice day.

UNP will have a nice day.

 

SRE is in a trading range oscillating around $93. 

 

TTE -- Total Energy -- July 23, 2026

Locator: 51232INVESTING.

WTI: futures -- 4:00 a.m. CT -- trading at $89.42. 

As things stand now, TTE is set to "pop" at the open. Just 4 1/2 hours from now. Still way off its highs.

So will CVX to some degree. Same with COP. 

PSX could have an incredible day.

MPC? Even better.

TTE earnings reported today, July 23, 2026, profits surge 68%:

On another note: the Strait of Homuz is completely closed.  

 

India's Solar Push Is A Drain On The Economy -- July 23, 2026

Locator: 51231INDIA.

Tag: India Solar Energy  

Anecdote: 

We live in a suburb of Dallas-Ft Worth, Texas. Our granddaughter has a very nice friend. Her mom is Indian, having immigrated to the US when she was 18 years old. She came alone and had no one in the US to help her when she arrived. She got a college degree in Michigan and found a job in tech. She works from home ever since Covid. She may or may not receive child support and alimony from her husband. 

About two years ago, she moved from an apartment to a McMansion in the same area as the apartment she moved out of. The McMansion has a swimming pool. A year later she bought a new car (ICE and previously owned). Right now she is spending a couple of weeks with her daughter at her lakeside home in Michigan.  

********************************
Indian Solar Energy 

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Spectrum Cable Update

Spectrum cable is "out" (down, not working) in our area and has been "out" several hours. 

The company has alerted us that they will update us every three hours! I'm working off my cellular data which is much slower than my computer. So, bear with me. 

ERCOT capacity is well above demand, so it's not that. Unless, it's a regional thing. 

Update: Spectrum has now gone nine hours with no solution. Spectrum is still down. Updates are given every three hours. The next update is scheduled for 4:00 a.m. CT. Was it a cooling problem that caused this or did some foreign country hack into Spectrum?

Update, 3:50 a.m. CT: Spectrum has now gone twelve hours with no solution. Spectrum is still down. Updates are given every three hours. The next update is scheduled for 6:00 a.m. CT.  Maybe things are getting better. The updates had been provided every three hours. The next update is only two hours from now. 

One wonders if Spectrum will reimburse us 1/30 of the lost connection? LOL.

Car Sales (Total, ICE, And EV) And The US Economy -- July 23, 2026

Locator: 51230EVS.

Social Security Solvancy Update-- July 23, 2026

Locator: 51229SOCIALSECURITY.

Before we get started on Social Security, an update at 3:09 CT.

Spectrum cable is "out" (down, not working) in our area and has been "out" several hours. The company has alerted us that they will update us every three hours! 

I'm working off my cellular data which is much slower than my computer. So, bear with me. ERCOT capacity is well above demand, so it's not that. Unless, it's a regional thing.  

Update: Spectrum has now gone nine hours with no solution. Spectrum is still down. Updates are given every three hours. The next update is scheduled for 4:00 a.m. CT. 

Was it a cooling problem that caused this or did some foreign country hack into Spectrum?

 **********************************
Social Security Solvency Update

Query: I read somewhere that increasing social security contributions from 6.2% to 6.7% (on each: employer and employee) would also solve the social security solvency issue just as raising the retirement age by one year if done by 2032.

Reply: 

Query: In Germany, what percent of their income pays for their "social security"?

 

Reply: 

Query: In what year did Germany last raise "social security" contributions and does Germany face the same problem as the US with regard to social security solvency issues?

Reply: 

Could We See $100-Oil By This Weekend? The Midnight Hour -- Wednesday / Thursday -- July 22 / 23, 2026

Locator: 51228B.

Social Security: Barron's has a story out today that suggests that the Social Security solvency issue is a minor inconvenience at worse. This is the sub-headline in an article on how to prepare for cuts in Social Security: "Social Security isn't going away. Even in a worst-case scenario, you're going to get some of your promised benefits." Wow. The article says Congress will have to act before 2032 to prevent Social Security cuts. 

If Congress fails to act, current and future Social Security recipients would see automatic benefit cuts. An average 54-year-old couple would lose up to $194,500 in lifetime benefits, while a high-earning couple would lose up to $509,000, according to the report from HealthView Services, a healthcare analytics firm for financial advisors. 

The article suggests -- which I believe completely --is this: it you are over the age of 45 on/before 2032, you will see absolutely no cut in benefits. Congress can do what they did the last time: raise retirement age by one year, from 67 to 68. I've read somewhere else that increasing the contributions from 6.2% each (employer + employee to 12.4% total) to 6.7% would also solve the problem. I'm surprised it would take so little to get us out of this problem.

Whatever. I'm also convinced that the folks who read Barron's are absolutely unconcerned about this problem. A year ago, when I read practically the same article, I was no longer concerned.

President Trump leaves office in January, 2029, which means that the next president will be smack-dab in the middle of all this. 

Let's do the math: a person earning $100,000 pays in 6.5% or $6,500 / year to social security. Raising that contribution from 6.5% to 7.0% would be a dollar increase to $7,000 / year or $500 more each year.

Investing: Repsol's 2Q26 adjusted profit more than triples on refining strength. RPPYY is up 86% in the past year; was up 2.45% for the day, at the close, July 22, 2026.

Mideast: twelfth (12th) consecutive night of bombing concluded at 10:30 p.m. ET, July 22, 2026. 

Spectrum cable is "out" (down, not working) in our area and has been "out" several hours. The company has alerted us that they will update us every three hours! 

I'm working off my cellular data which is much slower than my computer. So, bear with me. ERCOT capacity is well above demand, so it's not that. Unless, it's a regional thing.  

Update: Spectrum has now gone nine hours with no solution. Spectrum is still down. Updates are given every three hours. The next update is scheduled for 4:00 a.m. CT. 

Was it a cooling problem that caused this or did some foreign country hack into Spectrum?

AI -- the sixth industrial revolution (officially I guess it's the fourth industrial revolution). Corroborating this: Google's earnings release earlier today. Google's "Cloud" service revenue is growing faster than Search, YouTube, and other Google services. 

Tesla: free-cash flow turned negative -- and this is before Elon Musk told us that 2027 will be a very, very expensive year for Tesla.  

WTI: trading about a $1.50 earlier than this evening. This was after a tanker off the coast of Saudi Arabia was struck by a foreign object This particular tanker was in the Red Sea and the Houthis would most likely be responsible. This tanker was the one that made a u-turn earlier today; it is currently listing at 3 km/hour and apparently not under control. Much of this needs to be confirmed. It's amazing that Saudi Arabia let the Houthis get this far in active military warfare 

A tanker was struck off Saudi Arabia just after Trump escalated verbal threats. It's very clear that a foreign country with satellites is providing Iran with specific coordinates of targets as small as ships. Hitting tankers off the coast of Saudi Arabia is clearly an act of desperation. Iran is clearly working / hoping to get Saudi Arabia to tell the USA to stop the bombing. 

Everything suggests the Trump / Hegseth / CENTCOM plan is working. The question is whether the US Congress will permit it to go on. Apparently the US House has approved the Defense funding bill which will now go to the US Senate. If that's accurate, that's quite amazing how fast it seemed to get through the House. Clearly it is time for Trump / Hegseth / CENTCOM to quit (give in to Iranian demands) or "take the gloves off," as they say.

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

WTI: $88.40 (11:26 p.m. ET), Wednesday, late evening, July 22, 2026. Brent breaks $96.

New wells reporting:

• Friday, July 24, 2026: 37 for the month, 37 for the quarter, 390 for the year, 
• None.
• Thursday, July 23, 2026: 37 for the month, 37 for the quarter, 390 for the year,  
• 41545, conf, Oasis, Phoenix 5602 13-17 4B, 

RBN Energy: which upstream E&Ps won investor favor in 1H26? Link here. Archived.

The first half of 2026 was a tale of two commodity markets as crude oil prices surged during the spring while natural gas prices retreated sharply after an exceptionally strong winter rally. Those diverging commodity trends led to higher profits and cash flows for those with the greatest exposure to strengthening oil prices while penalizing those most vulnerable to weakening natural gas markets. Yet commodity prices alone do not fully explain how investors allocated capital during the period. In today’s RBN blog, we examine H1 2026 shareholder returns across three upstream peer groups — Oil-Weighted, Diversified and Gas-Weighted E&Ps — to identify not only which companies outperformed during the first half of 2026, but also why investors rewarded certain business models over others.

Figure 1 below compares the relative performance of the XOP Index (blue line), WTI crude oil price (orange line) and the S&P 500 (gray line) during the first half of 2026. The XOP Index, the State Street version of the S&P Oil & Gas Exploration & Production Index, closely tracked the dramatic swings in crude oil prices, although with considerably less volatility. WTI briefly climbed to nearly $113/bbl in early April, almost doubling from the start of the year, as escalating tensions involving Iran heightened concerns over global supply disruptions. As those fears eased during the second quarter, oil prices retreated but still finished the first six months of the year up just over 21%.

Google's Backlog -- July 22, 2026

Locator: 51227GOOG.

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Chattanooga

 
Link here.

From the linked article: 

Last spring, Chattanooga became North America’s first National Park City, joining an international movement that includes destinations such as London and Adelaide, Australia. The designation recognizes cities that demonstrate long-term commitment to protecting nature, expanding access to green spaces, restoring vital ecosystems, and community-led efforts to reconnect residents with the surrounding landscapes. Framed by the Appalachian foothills and the Cumberland Plateau, Chattanooga has been known as a premier adventure destination for decades. The National Park City designation simply acknowledges what locals have known all along.

Chattanooga set the stage for American National Park Cities. Today, at least six other cities are actively working to attain the coveted designation although their campaigns have yet to become public.

Tesla's Earnings -- July 22, 2026

Locator: 51226TESLA.

It's hard to see the green. LOL. It's going to take a week of Sundays for CNBC to process all of this. 

 Compare with GOOG where the green dominates the entire graphic. 

Update On GE Vernova -- It's All About Wind? July 22, 2026

Locator: 51225WIND.

Posted earlier today:

Cramer: seems to have gone "nuts" on GE Vernova's earnings miss and a 9% stock price decline. Talking about it at length all day long and I'm sure he will talk about it tomorrow morning also.  

There's more to the story. It sounds like Cramer hasn't gotten the full story yet. This is not due to energy demand. It's due to GE Vernova's ability to meet demand and make a profit on its supply. 

From Charles Kennedy so you know it's accurate and important. Link here. 

From the linked article:  

GE Vernova raised its full-year revenue forecast on Wednesday after another quarter of booming demand for gas turbines, grid equipment and AI-driven electricity infrastructure. 

Wind was the clear exception. The company’s wind business posted deeper losses as turbine manufacturers continue to struggle with weak project economics, rising costs and politics. 

The company reported second-quarter revenue of $11.1 billion, up 22% year-over-year and ahead of analyst expectations, while orders surged 88% to a record $24.2 billion, lifting its backlog to $176 billion. Power orders more than doubled, driven by utilities and hyperscale data center developers racing to secure electricity supplies. GE Vernova said data center orders have already exceeded $5 billion this year, more than twice the total booked during all of 2025. The company also raised its 2026 revenue guidance to $45.5 billion-$46.5 billion. 

The picture was significantly different for wind. Revenue from GE Vernova’s wind segment fell 10% to $2.03 billion, while adjusted EBITDA losses widened to roughly $275 million as lower onshore turbine deliveries, tariffs and persistent project headwinds weighed on profitability. 

The company now expects its wind business to lose roughly $400 million this year, even as its Power and Electrification divisions continue to expand rapidly. 

The wind industry continues to struggle with weak project economics after years of inflation, supply chain disruptions, higher financing costs and rising construction expenses chipped away at returns. 

Blame it on Trump: 

Offshore wind has been hit particularly hard by project cancellations and permitting delays, while the Trump administration has halted new offshore leasing, cancelled several federally backed projects, frozen Defense Department reviews affecting more than 100 proposed wind farms and redirected billions of dollars toward oil and gas development. Although several federal courts have overturned parts of those policies, regulatory uncertainty continues to delay new projects and weigh on the sector.

My hunch: we're going to be hearing a lot more from Jim Cramer on this although he probably won't get into the weeds on this one. It's just too difficult for his average viewer to understand. 

If GE Vernova can turn the wind situation around -- use gas turbines from CAT?  -- GE Vernova could see some good times ahead. 

I still don't have plans to invest in GE Vernova. 

*********************************
Disclaimer

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've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom. Now, I've added Amazon. And QCOM.

Seven New Permits, Six Permits Renewed, One DUC Reported As Completed -- July 22, 2026

Locator: 51224B.

Cramer: seems to have gone "nuts" on GE Vernova's earnings miss and a 9% stock price decline. Talking about it at length all day long and I'm sure he will talk about it tomorrow morning also. 

Cramer is still highly recommending GE Vernova. I thought I had missed buying this one; apparently not. 

On a "down day" for the main market indices, my portfolio saw a gain (due to its overweight in energy). News coming out of Brazil seems to suggest that Brazil is gaining oil sales at expense of Saudi Arabia. 

Meanwhile, the 11th consecutive day of US striking Iran since the ceasefire broke down has just begun. 

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

Bakken production:

WTI: $87.76. Later: $88.40. Close to midnight on 11th consecutive night of US attacks on Iran.

Active rigs: 24.

Seven new permits, #43138 - #43144, inclusive -- 

• Operators: Devon Energy, Berenergy Corp, Spotted Hawk Development, Enerplus
• Fields: Siverston (McKenzie), Glenburn (Renville), Deep Water Creek Bay (McLean), Baker (McKenzie)
• Comments:
• Spotted Hawk Development has permits for four Mufasa wells, SESW 30-150-90,
•  to be sited 716 / 794 FSL and 2165 / 2210 FWL. 
• Berenergy Corporation has a permit for a Kunkel well, NENW 1-158-82, 
• to be sited 585 FNL and 2075 FWL.
• Enerplus has a permit for Magnum well, lot 7, 4-152-101, 
• to be sited 1320 FNL and 2284 FEL.
• Devon Energy has a permit for a Bluefin well, SWSW 13-149-98, 
• to be sited 435 FSL and 424 FWL. 

Six permits renewed:

• Lime Rock (3): three Mariner permits, Dimond, Burke County;
• KODA Resources (3): three Bock permits, Daneville, Divide County.

One producing well (a DUC) reported as completed:

• 41876, 249, Petro-Hunt, State 159-92-36C-24-1H, Mountrail County. 

Overnight, WTI Jumps -- July 22, 2026

Locator: 51223BULGARIA.

Great news: Bulgaria -- borders Iran to the northeast -- has joined the fight. They get it. They will allow USAF to maintain presence in their country. 

Tit-for-Tat: one bridge or one power plant for each ship attacked by Iran/ Houthis -- Trump. Because the specter of Iran hanging over the strait, this one-for-one is not enough for shippers to take the risk. Trump needs to go for three bridges and one power plant for each ship attacked by Iran and their proxies. 

OpenAI: the chatbot going rogue in the last 48 hours is absolutely, the most incredible story ever. Say "hi" to HAL. 

CNBC: will ring the bell to open the NYSE today. Cramer at the center, Sarah Eisner on his right, Carl Q. at Cramer's left on the big stage. There it is -- 8:30 a.m. and the bell is ringing. Jim Cramer is 71 years old; has the energy of Alex Karp. Lots of green on the Big Board.

WTI: up amost $3.00, up 3.5%. Trading at $87.31. Finally, oil investors are seeing some action. WTI opens at $86.22. NASDAQ, S&P 500, and the Dow all look great. Dell up 7% at the open. 

In your face: US agrees to let Saudi Arabi have nuclear energy. This will get Iran's attention. The Mideast is changing. But I think the Bulgaria deal is really a game changer.  

Pickaxe Mountain: an old, old name. 

Investing: this is going to be a good day for adding some shares in e-retail, really big box store, and energy. Starting to see new and frequent BNY ads at CNBC. 

Apple Air Tags: on sale. May not last long. 

Apple M5: bought a new Apple computer for college granddaughter. This is quite a story. Maybe for another day.  

*********************************
Disclaimer

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've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom. Now, I've added Amazon. And QCOM.

Wednesday -- July 22, 2026

Locator: 51222B.

WTI: $85.46.

New wells reporting:

• Thursday, July 23, 2026: 37 for the month, 37 for the quarter, 390 for the year,  
• 41545, conf, Oasis, Phoenix 5602 13-17 4B, 
• Wednesday, July 22, 2026: 36 for the month, 36 for the quarter, 389 for the year, 
• 41544, conf, Oasis, Phoenix 5602 13-17 3B, 
• 41383, conf, Oasis, Cyclone 5502 11-17 4B,
• 40702, conf, Devon Energy, Skaar 15-22 XW 1H, 

RBN Energy: hyperscalers add carbon capture, renewables and nuclear to offset expanded gas use. Link here. Archived.

Natural gas-fired generation is the undisputed king in the realm of data center development, at least for the near term. Still, hyperscalers like Amazon, Google, Meta and Microsoft are taking a variety of steps to mitigate the climate impact of their rapidly expanding gas use. These include capturing and sequestering most of the carbon dioxide (CO2) from their gas plants, developing new renewable energy capacity to offset their gas-fired generation, and ramping up their use of nuclear power. In today’s RBN blog, we conclude our series on this topic with a look at several key examples of these efforts. 

This is the third and final blog in a series on how many of the nation’s largest hyperscalers acknowledge that the need to rapidly ramp up the availability of around-the-clock electricity to power their new data centers gives them little choice but to rely heavily on gas-fired generation. As we said in Part 1, the catch is that these gas-dependent plans conflict head-on with the companies’ long-stated “net zero” goals for greenhouse gas (GHG) emissions, so many of these same AI giants are taking aggressive steps to mitigate the environmental impact of their fast-rising gas use. We also summarized the major hyperscalers’ stated goals for reducing GHGs, the new challenges they face in meeting those goals, and identified the primary approaches that hyperscalers are leaning into.

In Part 2 we focused on a popular tactic, namely the purchase and retirement of low-methane intensity (low-MI) gas certificates — aka MiQ certificates — tied to natural gas that has been independently certified as having very low MI. Today, we will shift to a discussion of three other mitigatory approaches hyperscalers have been taking.

Carbon capture and sequestration

We’ll start with plans by some to employ carbon capture and sequestration (CCS). We noted in Part 1 that Nscale, the developer of the 8-GW Monarch Compute Campus in West Virginia (purple dot in Figure 1 below), is working on a plan to capture CO2 generated by gas-fired power units at the site and utilize 800 million metric tons of already-secured CO2 pore space. (Permit applications for the first Class VI CO2 injection and storage well were filed in 2024; approvals are expected in Q2 2027.)

What Continental Resources Is Doing In The Barnett Shale In The Permian's Central Basin -- July 22, 2026

Locator: 51221CLR.

What Continental Resources is doing in the Barnett:

Previously posted:

Continental Resources in the Barnett: See also this link; The box below came from Hart Energy.

Also, over at Linked In, Hart Energy --

US oil production, full story at this link.  

The Midnight Hour -- Tuesday/Wednesday -- July 21 / 22, 2026

Locator: 51220MISC.

WTI -- Midnight ET: $85.23. 

Highly recommend: Jesse Watters news on YouTube to get the daily news. 

Continental Resources in the Barnett: See also this link; The box below came from Hart Energy.

Also, over at Linked In, Hart Energy --

US oil production, full story at this link.  

*********************************
My Birthday Present 

************************************
The Movie Tonight

MASH.

Link here. 

SK Hynix -- BMOC -- Now Interested In Intel's Massive Semiconductor campus In Ohio? July 21, 2026

Locator: 51219TECH.

Tag: Intel INTC SK HYNIX 

Link here. 

Later:

End_Of_Day Report -- July 21, 2026

Locator: 51218B.

Okay: from the US Air Force, five hour ago -- link here: at the link this is a video -- 

US Oil Supply, link here: wow -- look at that -- overall crude oil expected to decrease by 1.5 million bbls w/w, and yet it increased by 2.603 million bbls. SPR did continue to increase, albeit not by much.

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Back to the  Bakken

WTI: $84.34.

Active rigs: 23.

Three new permits, #43135 - #43137, inclusive:

• Operator: Phoenix Operating,
• Field: Alkabo, Divide County;
• Comments: Phoenix Operating has permits for three Iceman wells, SESW 28-162-102, 
• to be sited 356 FSL and 2364 / 2424 FWL.

Three producing wells (DUCs) reported as completed:

• 42204, 330, Silver Hill, Texas E 158-92-8-20-3MBHX..
• 42206, 237, Silver Hill, Minnesota W 158-92-4-28-1MBHX.
• 43379, 276, Silver Hill, Nebraska E 158-92-5-29-20MBHX. 

Permian Gas -- A Nice Problem To Have? An Update -- July 21, 2026

Locator: 51217PERMIAN.

Link here. 

Even in Texas, the companies can't build pipelines fast enough. 

US natural gas exports: US LNG exports. 

On A Day That It Took Real Work To Lose Money, BRK-B Did It — Resting On Laurels -- July 21, 2026

Locator: 51216BRKB.

The market:

BRK-B today:

What makes this even worse is the fact that AAPL remains the largest holding in this portfolio and AAPL had a very good day.

EVs -- The Day The Music Stopped -- Seniors Don't Like EVs? July 21, 2026

Locator: 51215EVS.

Apparently rich seniors haven't  been enamored with EVs. 

Yesterday something caught my attention and I posted headlines regarding EVs that were making the news back in 2024. See below. How times have changed. Today, this headline (link here): 

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Posted Yesterday 

2024: Remember when the current CEO Mary Barra said that EVs would be profitable by 2030 and that the company would phase, by 2035, the ICEs for the vehicles most of us buy. This target was first established in 2021 and reaffirmed in late 2024.

Micron (MU) -- Up 13% Today; Up $111/Share Today -- And Yet It Is Still Well Below Its All-Time High -- July 21, 2026

Locator: 51214MICRON.

"You can howl at the wind, but AI is here to stay." A great example for buying on the dip.  

AMD -- July 21, 2026

Locator: 51213AMD.

AMD: Was there news that AMD might have a new major customer?

Reply: 

 

Taco Tuesday -- $85-WTI And The Market Barely Reflects It -- July 21, 2026

Locator: 51212B. 

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Back to the Bakken

WTI: $84.25. Up over 2% and $1.77 overnight. Later in the morning: $85.26. 

New wells reporting:

• Wednesday, July 22, 2026: 36 for the month, 36 for the quarter, 389 for the year, 
• 41544, conf, Oasis, Phoenix 5602 13-17 3B, 
• 41383, conf, Oasis, Cyclone 5502 11-17 4B,
• 40702, conf, Devon Energy, Skaar 15-22 XW 1H, 
• Tuesday, July 21, 2026: 33 for the month, 33 for the quarter, 386 for the year, 
• 41543, conf, Oasis, Phoenix 5602 13-17 2B, 

RBN Energy: will crude oil pipeline capacity keep up with western Canadian production growth? Link here. Archived.

Several projects in the works would expand crude oil pipeline takeaway capacity out of the Western Canadian Sedimentary Basin (WCSB) to the U.S. and Canada’s west coast. But, given the pace of production growth in Alberta, will enough takeaway space come online in time to prevent pipeline capacity shortages and the price dislocations that come with them? That’s what we’ll be looking at in today’s RBN blog, the final episode in our seven-part series on WCSB crude oil supply, which also serves as a preview of our latest Drill Down Report.

Over the course of our series (and detailed in our new report), we've explored the forces reshaping Western Canada's crude oil market, from the rapid growth in WCSB production and its seasonal swings to the pipeline expansions that have enabled rising exports. We also examined how transportation constraints influence crude price discounts, traced the evolution of crude flows and end markets, reviewed proposed pipeline expansion projects, and assessed producers’ plans to increase oil sands output in the years ahead. Together, these trends highlight a market in which production growth, takeaway capacity and changing demand patterns will determine whether Western Canadian crude can continue expanding its reach into North American and global markets.

Today, we present our monthly forecasts through 2029 for WCSB crude oil production and exports. Then we’ll compare these export forecasts against expected pipeline takeaway capacity to see if Western Canada’s crude oil market might be at risk of pipeline capacity shortages in the next few years. In addition to the information we’ve gone over in this series, the forecasts we present here include predictions about the impact of future turnaround activity for each oil sands facility and refinery. These forecasts lean on our database of turnaround histories for each facility, and company guidance where available. 

Starting with our crude oil production forecasts, Figure 1 below shows monthly WCSB historical production by type from 2022 through this spring (solid lines) and our projections through 2029 (dashed lines). We expect continued production growth in non-upgraded oil sands (gray lines), other heavy oil (purple lines), and condensate and pentanes plus (orange lines), while we are forecasting fairly flat production for upgraded oil sands (green lines) and conventional light and medium oil (blue lines), albeit with month-to-month volatility and some year-to-year variability, primarily due to oil sands turnaround schedules.

Is It Time To Pivot? July 20, 2026

Locator: 51211INVESTING. 

Arab Spring: see wiki. The obvious question: compared to 2010 - 2015 (Arab Spring) except for the war in and around Iran, things are much quieter in the Arab world now than they were during Arab Spring. 

Why is the Arab world so quiet now? The chatbot response must be correct, or at least have an element of accuracy but yet I'm not satisfied with the answer. I'm not going to post that response; it's too long. If interested, readers can do their own query. But wow, right now, things appear quiet in the Arab World except for what's going in and around the Strait of Hormuz. Fascinating to read about it now, but I certainly don't understand why that is so. 

My hunch, just out of thin air, a rambling thought -- with the Fed focused on US inflation and the very possibility of the US Fed raising rates; the price of oil remaining higher longer, mostly due to the Iranian War; and the Chinese economy significantly faltering, the likelihood of a recession by next summer, is very much a possibility. I think it will be interesting to see whether central banks can thread the needle: not contribute to a recession while at the same time, tackling inflation.  

On another note, as an investor, I never, never, never thought I would be looking at the oil sector again, but maybe it's time. It's amazing the number of pundits who think the price of oil is likely to fall back to $60. I just don't see it. 

It seems it all goes back to the Chinese economy. And right now, the Chinese economy is not looking so great  

Link here. 

We'll Set This As A Marker For The Archives -- July 20, 2026

Locator: 51210ARCHIVES. 

Tag: Cramer look beyond tech

Update On TSMC's Fabs In Arizona -- July 20, 206

Locator: 51209TSMC. 

I just posted a link to a WSJ article about Meta -- BlackRock -- El Paso and a $12-billion LDC. I didn't like the post because I didn't think I explained what I was thinking well enough. I was trying to articulate the amount of money being spent on all this tech. I just can't get my head around it. 

Just after posting that article, I got this article from a reader -- thank you -- and the link -- again, the amount of money is incomprehensible. I'll leave it there. Look at how this project in Phoenix has grown in just a few years.  I think this has been posted previously from a different source. But it's nice to see it again.

 

Again, in case you missed the link from above, here's the link so you can see the rest of the article: https://www.orionprop.com/topfive/phoenix-mayor-says-tsmcs-265-billion-investment-is-historic-on-multiple-levels/. 

Update On Investment Costs For 1GW LDC, Massive LDCs, Meta, El Paso -- July 20, 2026

Locator: 51208LDCS. 

TAG: LDC Meta Blackrock 2GW 5GW $10 Billion Hyperion $50 Billion  

I've never gotten the feeling that BlackRock CEO Larry Fink misunderstands investing opportunities. 

Before you read the WSJ article today about META's 1GW LDC in El Paso, Texas -- highlights posted below -- read a previously-posted blog --> link here. 

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Now, Today's Article 

Link here. 

An incredibly interesting article. Look at that:

The world's largest investment firm, BlackRock,along with its infrastructure and private-credit arms, owns an 80% stake in this Texas LDC. Meta Platforms, which will use the data centers (plural?) owns the other 20%. The complex is expected to have around 1 gigawatt of capacity.  

This is a huge change just from a year ago, it seems. At that time, it seemed an LDC represented a $2 billion investment for 1GW capacity. So, what's going on? According to a chatbot: