Well, Let's See What Surprises NDIC Has In Store For Us Tonight -- October 2, 2025

Locator: 49274B. 

Surprise, surprise: the daily activity reports for yesterday and today have posted. Wow.

WTI: $60.69.

Active rigs: not reported today.

Six new permits, #42359 - #42364, inclusive:

• Operators: Hess (4); Iron Oil Operating
• Fields: Ray (Williams); Parshall (Mountrail)
• Comments:
• Iron Oil has permits for two South Shell well,  ... I got this far and then realized this was yesterday's daily activity report -- not today's DAR .... so that's it for me. Today's DAR was not posted. 

Except one producing well reported as completed:

• 41338, A, MRO, Bailey 14-7H, Dunn County;

We'll get the new permits today by looking at the "scout ticket data":

• 42364, loc, Hess, GO-Peters-157-97-3220H-3, Ray, lot 3, section 2-156-98, to be sited 539 FNL and 1445 FWL;
• 42365, loc, Hunt Oil Company, Alexandria 161-100-33-21H-2, Alexadria, lot 4, section 6-160-100, to be sited 475 FNL and 355 FWL;
• 42366, loc, Hunt Oil Company, Alexandria 161-100-33-21H-3, Alexadria, lot 4, section 6-160-100, to be sited 475 FNL and 385 FWL;
• 42367, loc, Hunt Oil Company, Alexandria 161-100-33-21H-1, Alexadria, lot 4, section 6-160-100, to be sited 475 FNL and 415 FWL;
• 42368, loc, Hunt Oil Company, Sioux Trail 160-101- 1-13H-3, Sioux Trail, lot 4, section 6-160-100, to be sited 475 FNL and 445 FWL; 
• 42369, loc, Hunt Oil Company, Smoky Butte 160-100-6-18H-1, Smoky Butte, lot 4, section 6-160-100, to be sited 475 FNL and 475 FWL;
• 42370, loc, Hunt Oil Company, Smoky Butte 160-100-6-18H-2, Smoky Butte, lot 4, section 6-160-100, to be sited 475 FNL and 505 FWL;

Chart Of The Day -- CAT -- October 2, 2025

Locator: 49273CAT. 

Chart of the day: 

Re-posting: Apple iPhone 17 Lineup -- Computing Chips, Wi-FI / Bluetooth Chips, And The Neural Chips -- October 2, 2025

Locator: 49272APPLE. 

Link here. 

Note: this is moving quickly, and it is confusing. There may be content and typographical errors.

It gets confusing. Re-posting: 

From AI: 

For the iPhone 17 lineup released in September 2025, Apple replaced the Broadcom Wi-Fi and Bluetooth chips across all models, including the iPhone Air.

Here's a breakdown of the connectivity chip changes in the iPhone 17 lineup:

Broadcom replacement: All iPhone 17 models—the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and iPhone Air—now use Apple's custom-designed N1 wireless networking chip. This chip handles all local wireless functions like Wi-Fi 7, Bluetooth 6, and Thread.

Modem differences: While the Wi-Fi chip is now Apple's own design across the board, the cellular modem technology varies by model.

        iPhone Air: Features Apple's new C1X modem.

        iPhone 17, 17 Pro, and 17 Pro Max: Continue to use Qualcomm modems for cellular connectivity.

Overall transition: The move to the N1 chip for Wi-Fi and Bluetooth signals Apple's continued push to replace third-party components with its own custom silicon. While the C1X modem is a step toward modem independence, the company still relies on Qualcomm for its highest-end cellular modems.

On another note, wi-fi is becoming so ubiquitous one wonders to what extent some users could do without the Qualcomm modem (or any modem for that matter). Of course, that's exactly what one can do with iPads and laptops. 

America's Sovereign Wealth Fund -- A Trump Initiative -- October 2, 2025

Locator: 49271SWF. 

AI prompt: is the Trump administration establishing an American sovereign wealth fund by taking a stake in American companies?

AI reply: yes.

Following President Donald Trump's executive order in February 2025, the administration began laying the groundwork for a U.S. sovereign wealth fund (SWF).

The plan includes the potential for the U.S. government to take equity stakes in American companies, a strategy that has already been implemented with Intel.

Timeline of events

February 3, 2025: President Trump signed an executive order instructing the Secretaries of the Treasury and Commerce to develop a plan for creating a U.S. sovereign wealth fund within 90 days. The order broadly stated the fund's purpose was to "establish economic security for future generations" and promote U.S. economic leadership.

August 25, 2025: National Economic Council Director Kevin Hassett confirmed the government's acquisition of a nearly 10% equity stake in chipmaker Intel. The stake was acquired using funding from the CHIPS and Science Act, and Hassett described it as a "down payment" on a future sovereign wealth fund.

August 2025: The government's stake in Intel and potential future deals were presented as part of a broader strategy. Hassett suggested that the government could take similar equity stakes in other companies as a condition for receiving federal funds, rather than simply providing grants.

August/October 2025: Following discussions about funding the SWF, sources indicated that the administration has since shifted its focus away from a traditional sovereign wealth fund. Instead, it now plans to use other entities, such as the International Development Finance Corporation (DFC) and a Commerce Department-run "Investment Accelerator," to target strategic deals in sectors like pharmaceuticals, AI, energy, and mining.

Potential funding mechanisms

One of the main questions surrounding the fund was how it would be financed, given the U.S. budget deficit. Potential revenue streams discussed included:

    Tariff revenue: Revenue from newly imposed or future tariffs.

    Sale of public lands: A controversial proposal that drew criticism from opponents.

    Issuing debt:

        For-profit stakes in companies: Taking equity in companies that receive federal funding, as was done with Intel.

Shift away from a traditional fund

While initially pursuing a traditional SWF, recent reports indicate the administration has pivoted to alternative mechanisms.

The focus is now on using entities like the DFC and a new Commerce Department Investment Accelerator to pursue strategic investments in key industries. 

These entities, like a sovereign wealth fund, are designed to leverage government resources to shape economic outcomes but may not have the same structure or scale as initially envisioned.

Re-Sale Value Of EVs -- October 2, 2025

Locator: 49270EVS. 

Tag: POVs re-sale used cars underwater depreciation 

We've talked about this before; I can't find the original post regarding depreciation of cars, in general, and EVs in particular.  

From July 20, 2019: This was back in 2019 -- wow --

This was a big story on CNBC this morning after Tesla's numbers came out: 

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