The Closer, T+20, February 9, 2017

California gasoline prices rising. From Platts:

• "refinery issues"
• production declines in California
• increasing demand for gasoline from Mexico

Refinery issues: a crude unit and an alkylation unit are down at Chevron's 269,000 b/d El Segundo refinery; company did not provide time for "re-start."

DAPL work to begin immediately. We'll see. Not holding my breath. I think the first of two court challenges is in DC federal court. Yeah, that court. Story over at PennEnergy.

OPEC production cut could be extended into 2H17 -- Iran oil minister. Story over at HellenicShippingNews. An earlier tweet suggested that every OPEC country exceeded "cut" target by small amount except for Saudi Arabia (taking the brunt of the production cut) and Iran (producing just below its target. The numbers were based on third-party sources, felt to be more reliable than data released by the country itself.

Disclaimer: this is not an investment site. Do not make any financial or investing decisions based on anything you read here or think you may have read here.

Fracking sand: a reader sent me this link -- anticipate a shortage of fracking sand. Mike Filloon has been predicting that for several years. Harold Hamm, recently asked that question directly, say "CLR has plenty of sand."

The market: after another record-setting day on Wall Street, futures (which mean "squat") suggest another "good" day tomorrow. Dow futures are up about 23 points. Climbing the wall of worry:

From 40 To 36 Active Rigs In Less Than Four Days -- In The Williston Basin -- February 9, 2017

Active rigs:

	2/9/2017	02/09/2016	02/09/2015	02/09/2014	02/09/2013
Active Rigs	36	40	137	192	185

No new permits.

One well coming off confidential list Friday:

• 30509, SI/NC, Hess, BB-Eide-LE-151-95-3328H-1, Blue Buttes, no production data, 

Thirteen (13) permits renewed:

• CLR (6): six Sorenson permits in Mountrail County
• BR (4): four CCU Mainstreeter permits in Dunn County
• BTA Oil (3): three Beaver Creek permits in Billings County

Venezuela -- Tick, Tick, Tick -- February 9, 2017

Venezuela falls behind on oil-for-loan deals with China -- Reuters, data points:
not just a few days, but months behind in crude and fuel under oil-for-load deals with China and Russia

• China and Russia have provided Venezuela at least $55 billion in credit
• total worth of late cargoes: at least $750 million
• wow -- $55 billion in credit, and not only are cargoes a pittance of that (less than a billion dollars), that cargo is not even getting to China, Russia
• nearly 10 million bbls in arrears; as much as 10 months late

Spreadsheet here. 

Upswing In Gasoline Demand Coincides WIth Plunge In First Time Claims For Unemployment Insurance -- February 9, 2017

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Time For A Song

This has nothing to do with anything. It brings back a lot of memories for me. It's been a long time since I've heard it. It happened to come up in rotation. Nothing more, nothing less.

Twist In My Sobriety, Tanita Tikaram

The Political Page -- February 9, 2017, T+20

Cabinet: The more I read about Betsy DeVos, the more I realize that the Progs were on the wrong side on this one. I knew nothing of her before the nomination; did not follow it closely; what I knew came from mainstream media. Now that I've read a bit of her background, I find a completely different story.

Yes, this is an op-ed from The Wall Street Journal, but it's a great place to start.

Data points:

• Flint, MI: 53% of students go to charter schools
• Detroit, MI: 53% of students go to charter schools
• DC: 45% of students go to charter schools

The Progs (morning business show narrative)

• street theater
• out-of-sync with American people
• clever sayings, demonstrations, protests; no substance 

Huge Congressional - IT story not being reported by mainstream media. This story will have legs once the public starts getting the details. One Congressional IT staffer was a convicted felon; all three arrested were brothers. Hired by Democratic congressman. Nancy Pelosi recently lauded these IT hires, one of whom is a convicted felon. Each earns in excess of $160,000 / year, said to be about three times average IT pay.

ICE is back: surfing the net suggests that, good, bad, or indifferent, ICE is back doing its job. Updates:

• fear spreads in LA after immigration "raid" advocates claim; officials say arrests are "routine"
• some claim ICE "sweeps of immigrants" are "spiking"
• Mexican citizen sentenced to 8 years in prison for voter fraud in Texas

ND Senator Heidi Heitkamp votes NOT to confirm Jim Sessions as US Attorney General, taking direction from Chuck Schumer.

At the head of the line: Great Britain, Japan, Canada, Israel. Foreign leaders meeting with President Trump.