The Million Dollar Way (The Bakken Oil Blog)

Thursday, August 29, 2024

EV Manufacturer Canoo Leaving California For Texas -- August 29, 2024

Locator: 48486EVS.

Link here.

Corporate HQ relocations to Texas tracked here.

Canoo (ticker GOEV).

From Torrance (Los Angeles), California, to Irving, Texas, just down the street from us.

Cramer's First Hour -- August 29, 2024

Locator: 48485INV.

Tag: Fauci.

Cramer's first hour: a mix of fact, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.

A reminder: historically, the months of August and September are the worst months of the year for investors who hope to pay more for shares.

Transitory:

AI: the big story today? AI. OpenAI, specifically. The next trillion-dollar company.

Dollar General craters. Down 20%. Misses. Says customer is constrained. Yet, all the non-discount stores are doing quite well. I think folks are missing the story here. Exhibit A: Best Buy -- raises guidance, and shares up 15%.

German inflation: surprise drop to 2% in August, 2024. This may not be a "good" story. Exhibit A: falling GDP. Does contraction = recession? Link here.

Nvidia: keep the narrative going. Sophia is eager to execute her trades at the market open.

AAPL: right now, pre-market, up almost $4.00. Whoo-hoo!

BRK-B: see this post.

The deadly rise of anti-science: link here. Fauci's book is out.

CLF -- Cleveland-Cliffs: long discussion on Nippon, US Steel, and CLF.

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Disclaimer
Briefly Reminder

I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
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.
Reminder: I am inappropriately exuberant about the US economy and the US market.
I am also inappropriately exuberant about all things Apple.
And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.

Enterprise Products To Buy Piñon Midstream -- Five Wells Coming Off Confidential List -- August 29, 2024

Locator: 48484B.

WTI: $74.78.

Friday, August 30, 2024: 74 for the month; 130 for the quarter, 454 for the year
None,

Thursday, August 29, 2024: 74 for the month; 130 for the quarter, 454 for the year
40471, conf, Oasis, Maverick Federal 5602 13-12 4B,
40418, conf, Oasis, Fossum 5301 43-35 4B,
39855, conf, Enerplus, Wildebeest 148-95-4A-16H,
39712, conf, Hess, TI-Larson-LE-157-85-2635H-1
39710, conf, Hess, TI-Larson-157-85-2536H-4,

RBN Energy: Enterprise to buy Piñon Midstream and its Dark Horse sour-gas system.

Enterprise Products Partners, already a leading provider of “well-to-water” or “well-to-market” midstream services out of the Permian, recently announced a deal to acquire private-equity-backed Piñon Midstream for $950 million in cash. But this isn’t just another bolt-on. Over the past few years, Piñon has been building out its one-of-a-kind Dark Horse system, which gathers and treats “sour” associated gas in a highly prolific, crude-oil-saturated part of the northern Delaware Basin and permanently sequesters the resulting hydrogen sulfide (H₂S) and carbon dioxide (CO₂) deep underground. In today’s RBN blog, we’ll discuss the impending Enterprise/Piñon acquisition, what Dark Horse does and how it gives Enterprise access to what may be the next hot production area in the Permian.

MMFs -- My Favorite Chart -- Also, Most Recent Presidential Poll -- August 29, 2024

Locator: 48483MMF.

My favorite chart.

Link here.

All the while, US equities continue to trade at new highs. We've talked about this before.

By the way, the tea leaves suggest that several voting members of the Federal Reserve still don't feel it's really time to cut rates, but they will go along with the boss on this one. I assume their spouses like the interest they're making on money market funds, Treasuries, etc.

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The Literary Page

Link here.

Articles like these are incredibly valuable and necessary.

But to some degree, they suggest the "insecurity" of the writers.

Middlemarch was, perhaps, one of the most important books I ever read. I first read it late in life, in my 50s. It would have meant nothing to me had I been required to read it in high school (or even college).