From twitter today, link here, pretty funny:
Is that not an incredible graphic? Did you all see the "plunge" in 2020 and yet atmospheric CO2 continued to rise throughout 2020.
A Musical Interlude
Thursday, July 8, 2021
Let's See: The US Is Not Yet Completely "Open." Many Pockets Still Locked Down -- July 8, 2021
No New Permits; Twelve Permits Renewed -- July 8, 2021
That didn't last long: after a head-fake and drop in oil prices, WTI was back up today, up 1.23%; up 89 cents; and trading at $73.09. See link over at ZeroHedge.
That didn't last long: inflation fears may be starting to pass. Link here.
White House: denies any responsibility for higher gas prices. Fails to mention killing the Keystone XL. Link to Charles Kennedy. The whole purpose of the Keystone XL was to bring western Canadian sands oil to the Texas/Louisiana refineries to "balance" the light oil coming from the US shale plays. The refineries are optimized for oil heavier than the light WTI oil and Canadian oil was perfect. Instead, the White House is now asking for that similar quality oil from Saudi Arabia.
*******************************
Back to the Bakken
Active rigs:
| $73.09 | 7/8/2021 | 07/08/2020 | 07/08/2019 | 07/08/2018 | 07/08/2017 |
|---|---|---|---|---|---|
| Active Rigs | 22 | 10 | 59 | 64 | 56 |
No new permits.
Twelve permits renewed:
- Petro-Hunt (7): four Noonan Federal permits, and three Clark Griswold Federal permits, all in McKenzie County.
- BR (4): four Ole permits in McKenzie County.
- EOG: one Burke permit in Mountrail County
The Great Gatsbys -- July 8, 2021
The great Gatsbys (plural). Wealth concentration at the very top now exceeds the peak of the Gilded Age. Link here. It's quite remarkable to say the least. Did we mention that Mike Bloomberg has sixteen houses?
And ... Drum Roll .. It's An All-Time Record -- US Gasoline Demand -- July 8, 2021
Days supply, link here: sixteen weeks of decreasing days of supply. Went below 30 days about a month ago, June 11, 2021, report. Last week, it had dropped to 28 days. Now, today's report, days of US crude oil drops to 27.5 days.
Gasoline demand, EIA, link here, ten million bpd:
Subscribe to:
Posts (Atom)