Some Parting Shots -- January 19, 2023

Global oil demand: hit a nine-month high in November, 2022. Charles Kennedy.

• we get a lot of bits and pieces but not overall total;
• there could be many reasons for that "nine-month high."

US gasoline demand: link here.

Wow, wow, wow: US crude oil days of supply is now over 30 days. At 30.1, just barely, but it's over 30 days. 

The last time the US had more than 30 days of oil in storage was the first week in June, 2021 -- that's almost twenty months ago. Why isn't gasoline selling for less than $1.99 / gallon here in north Texas? Oh, that's right. Inflation. 

Wow, wow, wow: US crude oil exports -- this appears to be an all-time record. 

The US exported an average of 4.1 million bbls of oil per day in October, 2022. That’s a 49% increase y/y (2.779 million bopd one year ago) and an 18% increase month-over-month. 

Cost of electricity in selected states, October, 2022, residential, cents per kwh:

• New Hampshire: 30.44 (up from 21 cents one year earlier)
• California: 25.49 (up from 22.02 cents one year earlier)
• North Dakota: 11.73 (11.63 cents one year earlier)
• Idaho: 11.24 (10.58)
• Utah: 10.99 (10.46)

Atmospheric CO2, link here. No updates; volcanic activity on Hawaii interfered with CO2 measurements. Last update: November, 2022. 

"Flu season": shortest, earliest "flu season" in recent history. Link here.

Enquiring Minds Want To Know -- January 19, 2023

Sophia is our youngest granddaughter, eight years old, third grade. She and I are joined at the hip, as they say. She knows I'm "ancient," but that seems not to bother her. In fact, she probably thinks of me as something she might find in a museum, and, as such, I'm interesting as well as strange at the same time.

I know she thinks about that a lot.

Sophia loves school and loves her teachers. I assume she can't imagine how empty life would be without school. 

Tonight, from her mom, an exact quote from Sophia, "Way back in 90s, were there schools?"

Break, break.

 It's interesting. After hearing that quote, the dots connect. 

Every day when she comes home from school, every adult asks her the same question, "What did you do in school today?"

I'm beginning to wonder if Sophia thinks adults ask that question because "way back in the 90s" adults  didn't go to school and are curious to know what school is all about.

EVs And The Future -- January 19, 2023

More

January 20, 2023: link here. GM talks its book. Starting to sound like Elon Musk.

Original Post

Link here.

As California goes, so goes the nation, or so they say. If that rings true, the nation is set for a reversal of some of its strictest renewable energy plans, after the Huntington Beach City Council voted to dump its plan for 100% renewable energy.

Huntington Beach, California, is changing the plan it had in place with the Orange County Power Authority (OCPA)—a nonprofit offering clean energy. But its recent history in a rather unfavorable media limelight has given the city council pause.

And Huntington Beach wasn’t the first municipality to pull out—Orange County bailed on the green power authority, citing transparency concerns and a series of ugly audits, and allegations that the authority failed to inform the public that their electricity bills were increasing.

Orange County was set to begin receiving green power from the authority by the end of this year. The cost of having the county pull out is estimated to be around $65 million. 

For Huntington Beach, there were three plans before it when considering a change in plan: to keep the 100% renewable energy plan as is, to go with a “Smart Choice” plan offering 69% renewable energy, or the “Basic Choice” plan that offered 38% renewable energy. They opted for the Basic Choice plan in a vote of 4-3....

.... Huntington Beach’s change of plans follows the launch of the Department of Energy’s $50 million project to help communities transition to clean energy systems—the C2C program.

“With C2C...” said U.S. Secretary of Energy Jennifer M. Granholm in a statement earlier this week.

Link here.

Link here.

Al Gore seems to have lost it in Davos this week. He must be following the same stories.

Russian Sanctions -- January 19, 2023

Link here.

Crawdad Season In Texas; Iron Oil Operating With Two New Permits -- January 19, 2023

Wow, wow, wow -- the one movie I cannot watch -- Dr Zhivago.

And now, on TCM, Dr Zhivago.

I will watch what I can. 

Sad beyond belief. David Lean, Carlo Ponti -- only they could have made this movie.

On a more pleasant note: crawdad season in Texas is officially open. Locally, it opened on/about January 17, 2023.

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

Biggest surprise today: WTI back over $80 despite EIA data. Again, the markets are looking six months out.

Active rigs: link here.

WTI: $80.76.

Natural gas: $3.216.

Analysis of the Bakken: link here.

Two new permits, #39575 - #39576, inclusive:

• Operator: Iron Oil Operating
• Field: Buffalo Wallow (McKenzie County)
• Comments:
• Iron Oil has permits for two Buffalo weells in WNW 17-148-100, 
• to be sited 457 FNNL and one weell 579 FWL and one well 629 FWL.

Six permits reneweed:

• EOG (4): three Austin permits in Mountrail and one Wesst Clark permit in Clarks Creek;
• CLR (2): one Lundberg Federal permit (Dunn) and one Salem permit, Williams County;

One canceled permit:

• 31479, PNC, Sinclair, Ocasek 18-19-1H, McKenzie County; Lone Butte.

One producing well (a DUC) reported as completed:

• 37862, 856, CLR, Clear Creek Federal 12-34H1, Westberg, t--; cum 6K after nine days;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2022	9	5721	5442	13675	12054	11300	754
BAKKEN	10-2022	3	96	96	753	200	0	200