Foreign Exchange Reserves -- Russia, Saudi Arabia, China -- Posted October 3, 2025

Locator: 49283SAUDI. 

Locator: 49283CHINA.

Locator: 49283RUSSIA.

Foreign exchange reserves: Russia, Saudi Arabia, China.

Russia, link here:

Saudi, link here:

China, link here, posted October 3, 2025:

Shutdown -- Saturday Will Be Day 4 -- October 3, 2025

Locator: 49282ARCHIVES. 

Shutdown: link here. The talking heads over at CNBC seem to fail to grasp that basic concept. One could add the founders included a two-party system to help insure a divide government. Look at California.

Hardball: US House leader told his 435 members to stay home next week -- WFH -- I guess -- but no more votes next week. So, it's up to the US Senate. Russell Vought in the catbird's seat. I guess no US Senate confirmations for awhile. Gums up the military machinery. Hegseth fires top US Navy chief of staff. 

The US House is scheduled to return October 14. 

Next payday for the US military, midnight October 14 /  October 15. A lot of enlisted men and women live from paycheck to paycheck.  

The El Segundo refinery fire may be a bigger deal than first thought. 

AI prompt: 

Is El Segundo the largest refinery in California?

AI reply: 

No, the Chevron El Segundo refinery is not the largest in California; the Marathon Los Angeles Refinery in Carson is California's largest, though the El Segundo refinery is often noted as the largest on the West Coast. The El Segundo refinery is Chevron's second-biggest refinery in the United States and the largest on the West Coast, according to its website. 

My reply: whatever. 

Link here. 

 And, then there's this shutdown: link here.

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A Piggy Bank

Link here. 

Must have been a slow news day. 

Global Energy -- October 3, 2025

Locator: 49281GLOBALENEGY. 

Brazil: Brazil's renewable energy faces crippling curtailment challenges. Link here. 

"Crippling curtailment" and "renewable energy" in the same headline. Oh, oh! I'm curious who the author will be ... I can guess. Rystad Energy. 

Saudi Arabia: Saudi's spending spree meets oil price reality. Link here. Julianne Geiger.

The numbers tell the story: Saudi Arabia now expects a budget deficit equal to 5.3% of GDP in 2025—nearly double its original 2.3% forecast—before narrowing to 3.3% in 2026. The deterioration comes largely from weaker oil income, Fitch said, with non-oil revenues holding up but not enough to offset the gap. The rating agency pointed to revenue shortfalls and overspending as the main culprits, noting the massive capital outlays required by megaprojects like NEOM.

Mexico: Pemex' Dos Bocas turns into Mexico's refinery nightmare. Link here. Dos Bocas refinery still facing the startup blues -- RBN Energy, link here.

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Is Natural Gas Breaking Out?

I consider SRE a "$75-stock." Before 2022 it was a "$65-stock." Paying 2% to 3%.

SRE will pays its next quarterly dividend in about two weeks, October 15, 2025. I was blown away when SRE surged to $96 this past year; we're back above $90 and no one seems to have noticed.

OKE was also up a bit today, as was Venture Global up a bit.

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Does This Feel Like A Bubble?

From today, prompt: META Louisiana football fields.

Massive site: link here.
  

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A Musical Interlude

Link here. 

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The Book Page

If I had enough space on the book shelf, this would be the next book.

 

 I would get this book for this one chapter:
 

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Disclaimer
Brief Reminder 

Briefly:

• I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken.
• 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 something appears wrong, it probably is. Feel free to fact check everything.
• 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 Bakken, 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. Nvidia is a metonym for AI and/or the sixth industrial revolution.
• I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom.
• Longer version here.

Daily Activity Report -- October 3, 2025

Locator: 49280B. 

WTI: $60.88.

No daily activity report today, so far. It looks like the NDIC is establishing a new trend. The daily activity report will now become the early morning edition from the previous day. 

But, from scout ticket data, new permits:

• 42371, conf, Kraken, Charity 3-10-15-5H, Boxcar Butte, SESW 31-149-101, to be sited 448 FSL and 2574 FWL;
• 42372, loc, KODA Resources, Bock 3624-1BH, Daneville, SWSE 36-161-102, to be sited 459 FSL ad 1881 FEL;
• 42373, loc, KODA Resources, Bock 3624-2BH, Daneville, SWSE 36-161-102, to be sited 459 FSL ad 1846 FEL;

Active, producing wells: record set at 19,000.

Six new permits: posted yesterday --

• Hunt Oil has permits for six Alexandria wells in Alexandria, Sioux Trail, and Smoky Butte oil fields.

From yesterday:

Five permits renewed:

• Grayson Mill, #37037 - #37041, inclusive; permits for five Tufto wells; all remain on confidential status; Williams Couny; Cow Creek.  

Alison Ritter's Quick Connects -- October 3, 2025

Locator: 49279B. 

The headlines --

• North Dakota reaches all-time high of 19,500 operational oil wells in July -- WZFG

• What are the micro data centers are coming to North Dakota's oil patch? -- Bismarck Tribune

• US DOT awards $260K to two North Dakota agencies for pipeline safety -- Kevin Cramer

• Officials give update on Chord Energy's recent 48,000 acre Bakken acquisition -- KFYR - TV

• State utility regulators set hearing for Xcel Energy's nearly 20% rate increase proposal -- Dickinson Press

• Federal shutdown begins as Governor Armstrong promises state agency guidance soon -- Bismarck Tribune

• Armstrong presents 2025 Governor's Awards for Excellence in Public Service -- Office of the Governor

• Armstrong and Strinden discuss shared priorities with MHA Nation leaders -- Office of the Governor

• Seven finalists selected for three North Dakota Ethics Commission vacancies -- North Dakota Monitor

• North Dakotans can now transfer their mobile driver's license or State ID to their phone -- KFYR - TV

• Inaugural North Dakota workforce summit focuses on collaboration, communication -- Bismarck Tribune

• Wildfire caused by downed power lines burns 100 acres in northern McKenzie County -- Williston Herald

• Ward County taxpayers could see decrease in property tax levy under 2026 budget -- Minot Daily News

• Badlands Art Association invites public to participate in 54th annual Badlands Art Show -- Dickinson Press

• McKenzie County cuts budget after approving 7% pay raises for government employees -- KFYR - TV

• Policy change allows UND, NDSU to offer dual-credit classes for high schoolers -- North Dakota Monitor

• Lindsey Grocery in Crosby is excited after receipt of $150K grant award for rural stores -- The Journal

• North Dakota Council on the Arts awards $60,000 to expand art education around the state -- KFYR - TV

• North Dakota Community Foundation to award more than $817K in over 400 scholarships -- Williston Herald

• North Dakota Teacher of the Year wants to use platform to advocate for educators -- North Dakota Monitor

• Local fifth graders explore drone flying, goat milking and even phlebotomy at career fair -- Dickinson Press

• Supreme Court urged to intervene in Boulder climate case amid nationwide dismissals -- Energy In Depth

• Trump administration eyes looser restrictions on pollution and public lands to boost coal -- The Hill

• Trump admin nixes $36B in transportation and green energy projects in NYC, blue states -- Just The News

• BLM quarterly lease sales across Louisiana, Michigan, Mississippi and Utah net $22.8 million -- E&E News

• Climate crusaders are trying new tactics but running out of options in the US -- The Empowerment Alliance

• Russia expects to sell natural gas to China at much lower prices than to Europe and Turkey -- Oil Price

• Democrats toy with 'all of the above' on energy while Republicans embrace fossil fuels -- E&E News

• Big Tech's AI ambitions are straining the US power grid. Natural gas might be its answer. -- Yahoo Finance

• Trump will keep oil and gas permitting moving unhindered, despite government shutdown -- Oil Price

• Proposed AI demand in Wyoming may soon use more electricity than state's human residents -- Ars Technica

• U.S. Department of Energy cancels $7.6B in funding for previously approved energy projects -- Oil Price

• At climate week in New York City, world leaders reverse their course on natural gas -- EID Climate

• Funding for green groups soared after the 2009 EPA endangerment finding, nonprofit finds -- Just The News