Amazon Factoid -- July 7, 2023

Locator: 45934AMZN. 

With my Amazon Prime credit card I get cash back, which varies depending where the credit card is used.

I get all my books "free" using "cash back" from Amazon Prime.

I use "cash back" occasionally for other purchases.

I noticed tonight that cash in my "cash back" account is now twice the annual Amazon Prime membership fee.  

The #1 streaming media I use: Amazon Prime Video.

Week 27: July 3 , 2023 -- July 9, 2023

Locator: 45933B. 

Top story:

• Williston Basin in the middle of another mini-boom. Link here.
  
• The stock market holds, Friday, July7, 2023
• mountain-out-of-a-mole-hill: white powder in White House (as if this is the first time ever)
  

Top international non-energy story:

• Russian-Ukraine war continues but it seems "no one" knows.
  
• Prigozhin shows up in Moscow; collects his $100 million.
  
• Putin: a corporate takeover of The Wagner Group
  
• META: releases Threads to "take on" twitter
  

Top international energy story:

• Tesla: "owns" the EV supercharger story: Mercedes the latest to partner with Tesla
  

Top national non-energy story:

Top national energy story: 

• WTI breaks $73 at end of week, trends toward $74.
• NE ISO comes close to failing due to demand; price spikes to $2,700 / MWh.
• Texas grid holds: easily.
  

Focus on fracking: most recent edition.

Top North Dakota non-energy story:

• #1 among US states: GDP, growth 1Q23.
  

Top North Dakota energy story:

• 
  

Geoff Simon's top North Dakota energy stories:

•  Quick connects.
  

Bakken economy: North Dakota's 1Q23 GDP growth: #1 in the nation.

Commentary:

Entertainment: Harrison Ford's Indiana Jones

It Gets Tedious --- July 7, 2023

Locator: 45932ECON. 

Market today, about an hour before the close:

WTI: trading at $73.86!

For those surprised by this turn of events, I'll explain this later. Two things happened early this morning. A reader predicted this earlier this week.

A few of my favorites:

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 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. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source. 

And then we have this article, link here:

It gets tedious.

So, a Yahoo!Finance editor is buying $120-tennis shoes, and I'm buying $50-DVN, well off its highs.  The kids will get a few more shares of Devon.

I doubt if the tennis shoes will mean much 3 years from now, much less 30 years from now.

Who Was At The Top? Three Guesses And First Two Don't Count -- 1Q23 GDP Growth Data By State

Locator: 45931ECON. 

Link here.

1Q23 GDP growth and personal income growth by state.

Personal income: Nebraska, 11.1, beat North Dakota, 11.0, because Warren Buffett resides in Omaha, NE.

 

 

FRED: link here.

Back-of-the envelope:

• 4Q22 - 1Q23: 12.4% growth:
• $73,267 per capita, 2022
• 1.124 * 73267 = 82,352
• 1Q20e = 59199
• (82,352-59199)/59199 = 39.1% growth (1Q20 - 1Q23)
  

GDP per capita, link here.

Construction spending per capita:

• North Dakota: at about $2,600 per capita trends toward 3X that of California;
• California: at about $1,100 per capita
• based on most recent data easily available to an armchair blogger.
• Texas? About $1,333 using same sources.
• Michigan, where the cars are made? About $800 per capita.
• no links. I'll let folks use their own sources.

With numbers like these, I have no idea why North Dakota still has a state income tax. Texas has not state income tax, just saying. 

Three New Permits -- July 7, 2023

Locator: 45930B. 

WTI: just shy of $74. Range between $73.50 and $73.90.

Active rigs: 36.

Three new permits, #40024 - #40026, inclusive:

• Operators: MRO (2); Oasis
• Fields: Killdeer (Dunn County); Todd (Williams)
• Comments:
• Oasis has a permit for a Peters Road Federal well, lot 8 sectioi 30-154-100;
• to be sited 853 FL and 276 FWL;
• MRO has permits for a McKay well and a Dunrud well, NENW 13-145-95, 
• one to be sited 400 FNL and 1440 FWL; 
• the other to be sited 400 FNL and 1480 FWL;

Two permits canceled:

• Ovintiv: a Bernice permit and a Barracuda permit, both in McKenzie County

Ten wells temporarily abandoned well plugged:

• Oasis: 7, McKenzie and Mountrail counties
• Whiting: 3, Williams County