Thursday -- July 16, 2026

Locator: 51182B.

Apple: 

Apple:

This explains "Lulu's" recent rants about Trump and the Mideast:

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Back to the Bakken

WTI: $80.08.

New wells reporting:

• Friday, July 17, 2026: 28 for the month, 28 for the quarter, 381 for the year, 
• 42446, conf, Petro-Hunt, Hoiby 158-94-4C-3-4H, 
• 22057, conf, Devon Energy, Wagenman 29-32 1H, 
• 22056, conf, Devon Energy, Wagenman 29-32 2H, 
• Thursday, July 16, 2026: 25 for the month, 25 for the quarter, 378 for the year, 
• 41697, conf, Hess, SC-Bingeman-154-98-0904H-9,

RBN Energy: will increased natural gas demand and new pipelines spur higher northeast output? Link here. Archived.

Demand for natural gas in the Northeast regional market and pipeline capacity out of Appalachia are expected to grow in the coming years as more coal plants retire and more data centers come online, but will production necessarily follow suit? Even if market conditions improve, it’s not a done deal. Operators in the region remain largely focused on capital discipline rather than chasing incremental volumes. In today’s RBN blog, we’ll look at which producers are best positioned to grow if conditions warrant.

Today’s blog is part of our broader Northeast natural gas series and marks a shift from pipelines and other infrastructure to producers and where growth might — or might not — show up. We’ve already taken an in‑depth look at new pipeline capacity and the potential impact of new data centers on the Northeast gas market, but we can’t promise a “Field of Dreams” outcome. Just because pipeline capacity is being added doesn’t mean significant new production will automatically follow. On paper, added pipeline capacity and rising demand could support more output, but there’s still plenty of market skepticism about whether producers will deviate from the current strategy to focus on growth. Appalachia has had several years of flat production growth averaging around 33 to 36 Bcf/d since 2020 for a number of reasons, with almost all their drilled wells in either northeastern Pennsylvania or the southwestern Pennsylvania/northern West Virginia/eastern Ohio area (see Figure 1 below). Capital discipline has been the dominant theme, as most producers have prioritized investor demands for free cash flow over growth for its own sake.

US SPR -- July 15, 2026

Locator: 51181SPR.

Link here.

This is either going to be really, really important ... or not. 

It seems to be one of those "things" that doesn't matter ... until it does. 

The statutory operational minimum, Congressionally-mandated: 150 million bbls but there are discussions regarding the "physical" operational limits ... which could be as high as 300 million bbls. 

I keep coming back to this: it seems to be one of those "things" that doesn't matter ... until it does. 

So, for the record / archives, WTI: $79.99.  Brent is slipping despite more Allied attacks on Iran.  Later: WTI is now $80.08.

South Korean stock exchange (or something to that effect) fell 7% after the South Korean central bank (or something to that effect) raised rates for the first time in three years. That's not happenin' in this country -- at least for now.

The US SPR could be Warsh's first test.  

Kalshi traders see gasoline considerably higher by the end of July.  

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Movie Night

Humphrey Bogart's Sabrina and Harrison Ford's Sabrina. 

Personal Mileage -- 2012 Civic Honda -- Short Trips, Expensive Gasoline = Poor Mileage, High Cost Per Mile -- July 15, 2026

Locator: 51180MILEAGE.

 

Two New Permits; Twelve Neptune Operating Permits Canceled -- July 15, 2026

Locator: 51179ND.

Roosevelt Library in the Badlands. This is a reflection of the Badlands on the grand piano. 

Global warming: this tells me all I need to know. The EU is more concerned about European AI than saving the earth. Whatever. And "taxing" Apple and Microsoft.

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Back to the Bakken

WTI: $79.60

Active rigs: 26.

Two new permits:

• 42781, loc, KODA Resources, Amber 3421-3BH, SWSW 34-160-103, to be sited 45 FSL and 397 FWL; Fertile Valley, Divide County;
• 42782, conf, CLR, Langved 5-2H, SWSE 2-155-95, to be sited 420 FSL and 2624 FEL, Beaver Lodge, Williams Country.

Twelve permits canceled, all in Williams County: 

• Neptune: CPEUSC Holmes (5); CPEUSC Chase Douglas (4); CPEUSC Manchuk (2); and, CPEUSC Campbell (1). 

AAPL Hits An All-Time High -- Up Over $12 / Share -- Market Open -- July 15, 2026

Locator: 51178AAPL.

Tag: BRKB AAPL 

Updates

Argentina, 2 - England, 1. Is that correct? Does anyone care?

Later, market close: AAPL closes at an all-time high -- on the very day one of the analysts downgraded AAPL as a sell. What a doofus. 

I liked Mr Larry Fink on CNBC today with Jim Cramer. Mr Fink said he was not concerned about today or even this week. He was looking much farther into the future. I am, too. That's why I bought a software company -- one of the Mag 7 -- that sold off today. No, not Apple. I already forgot which one I bought. Bought it for the twins. They're six years old now. My emotions are affected by the market on a daily basis; my rational self is affected by what I think will be in 30 years. I'm happy some days; upset other days. But if I'm upset with my 30-year plan, I shouldn't be investing on my own. 

Later, 12:52 p.m.: today's market suggests either the Mideast a) has become irrelevant to most investors; and/or, b) investors are quite "okay" with how the administration is "managing" a difficult situation. It is obvious that this "adventure" is incredibly important. We will never know how important this "adventure" is/was. For past presidents who say otherwise, they are either disingenuous (political) and/or incredibly naive. 

Later, 12:44 p.m.:  buying opportunity. So far, AAPL is not yet on the list below.

Original Post  

The NY loophole with regard to new LDCs:

Mideast: despite more US strikes on Iran just as the market opens, the market surged. I'm sure President Trump is watching. 

Up again:

Down again: this was at the open; since then, BRKB has turned up, to the green. Whoo-hoo!

 Holy mackerel: as usual, Dan Nathan, CNBC was negative on AAPL again yesterday.

OpenAI's First Hardware? July 15, 2026

Locator: 51177APPLE.

Gemini query: OpenAI says its first hardware will be a household smart speaker. It sounds like a household hub and takes us back to our earlier discussion regarding Fox buying Roku. Do others see it that way? Link here.

Reply (note the mistake): 

For me, this is a huge acknowledgement that OpenAI did not want to take on the iPhone. That speaks volumes.

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Tucker Carlson

I read a lot but not enough.

I remember listening to Tucker Carlson some years ago. I haven't listened to him since. I occasionally see a reference to him in the mainstream media. But I haven't seen him or heard him in years. I "know" he and President Trump have parted ways. 

I assume President Trump is the "winner" in this breakup. 

By the way, speaking of President Trump, I understand he is pulling US troops out of Iraq. By September 30, 2026. Links everywhere. Destination for these troops? Kharg Island?  

Is it my imagination or do others outside his cult see him fading away?  

From Axios -- Apple -- This Was The Talking Paper For Josh Brown And Jim Cramer Today -- July 15, 2026

Locator: 51176APPLE.

Link here.