Gov. Doug Burgum is asking President Donald Trump for a major disaster declaration for North Dakota counties affected by severe drought conditions that now cover most of the state.
If approved, the declaration would activate the Individual Assistance Program and make direct federal assistance available to 33 counties and one tribal nation, including Williams, Divide, Mountrail, Divide, Dunn, McKenzie and Billings County.
Other counties on Burgum’s list include Adams, Bottineau, Billings, Bowman, Burke, Burleigh, Dickey, Emmons, Golden Valley, Grant, Hettinger, Kidder, Lamoure, Logan, Mchenry, McIntosh, McLean, Mercer, Morton, Oliver, Pierce, Renville, Sioux and the Standing Rock Sioux Nation, Slope, Stark, Stutsman, Ward, and Wells counties.
Wednesday, August 9, 2017
North Dakota Drought -- Governor Asks Federal Government To Declare Major Disaster -- August 9, 2017
From The Williston Herald:
Wishin' And Hopin' -- Theme Song For Mainstream Media -- August 9, 2017
In today's "fake news" department, "early season storms one indicator of an active hurricane season." Algore and mainstream media are wishin' and hopin' --
Wishin' and Hopin', Dusty Springfield
This is absolutely one of my favorite songs -- depending on the moment, it may be my favorite song -- I prefer other singers, but how appropriate to have this one show up randomly tonight. Funny how things happen.
If You Go Away, Glen Campbell
******************************
This is absolutely one of my favorite songs -- depending on the moment, it may be my favorite song -- I prefer other singers, but how appropriate to have this one show up randomly tonight. Funny how things happen.
One New Permit; Four DUCs Completed -- August 9, 2017
Active rigs:
One new permit:
| $49.61 | 8/9/2017 | 08/09/2016 | 08/09/2015 | 08/09/2014 | 08/09/2013 |
|---|---|---|---|---|---|
| Active Rigs | 57 | 33 | 73 | 193 | 183 |
One new permit:
- Operator: Abraxas
- Field: North Fork (McKenzie)
- Comments:
- 30347, 1,250, CLR, Holstein Federal 9-25H1, Elm Tree, t7/17; cum --
- 32750, 573, Enerplus, Everest 148-95-12D-01H, Eagle Nest, t7/17; cum --
- 32751, 417, Enerplus, Denali 148-95-12D-01H-TF, Eagle Nest, t7/17; cum -- (#17975)
- 33169, 2,067, Enerplus, Elbert 148-95-12D-01H-TF, Eagle Nest, t7/17; cum --
OMG! Stocks Sink! Investors Seek Safety In Gold, Bonds -- The Market And Energy Page -- T+201, August 9, 2017
Yes, that was the banner over at Yahoo!Finance, at the market close: "Stocks sink, as investors seek safety in gold and bonds."
Here's a screen shot of the headline after the close, screen shot taken at 3:09 p.m. Central Time, US markets closed.
So, how bad was the bloodbath?
Maybe the anti-Trumpers were talking about the best gauge of the market, the S&P:
Wow, this "fake news" really does get tiresome?
It is expected that the US becomes a net exporter of natural gas this year. Something tells me the anti-Trumpers business sites won't make a big deal out of this. Just a few years ago, the US was "frantically" building natgas import terminals: the EIA was forecasting a huge natgas deficit for the US. Now, the US is turning those import terminals into export terminals.
Two days ago it was noted that the Cove Point LNG export facility in Maryland was nearing completion and would begin export operations by the end of the year (2018).
The US will export about 80 million metric tons of LNG annually by 2020; Cove Point will provide about 5.25 million metric tons.
Here are the others:
A nice historical perspective can be found at this post based on an RBN Energy LNG export analysis, October 12, 2016.
Here's a screen shot of the headline after the close, screen shot taken at 3:09 p.m. Central Time, US markets closed.
So, how bad was the bloodbath?
- Dow 30: down 0.17%. On a $1,000-investment across the entire Dow 30, one lost $1.70.
- Nasdaq: down 0.28%. On a $1,000-investment across the entire Nasdaq, one lost $2.80.
Maybe the anti-Trumpers were talking about the best gauge of the market, the S&P:
- S&P 500: down 0.04%. On a $1,000-investment across the entire S&P 500, one lost 40 cents.
Wow, this "fake news" really does get tiresome?
****************************
US Natural Gas Exports
It is expected that the US becomes a net exporter of natural gas this year. Something tells me the anti-Trumpers business sites won't make a big deal out of this. Just a few years ago, the US was "frantically" building natgas import terminals: the EIA was forecasting a huge natgas deficit for the US. Now, the US is turning those import terminals into export terminals.
Two days ago it was noted that the Cove Point LNG export facility in Maryland was nearing completion and would begin export operations by the end of the year (2018).
The US will export about 80 million metric tons of LNG annually by 2020; Cove Point will provide about 5.25 million metric tons.
Here are the others:
A nice historical perspective can be found at this post based on an RBN Energy LNG export analysis, October 12, 2016.
Another Huge Draw: US Commercial Crude Oil Inventories Decreased By 6.5 Million Bbls -- August 9, 2017
From the EIA's weekly petroleum report:
My calculations (parameters previously described) suggest that at the average rate of decline over the past 15 weeks, it will take 35 weeks to "re-balance":
Other highlights:
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.5 million barrels from the previous week. At 475.4 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year.
Total motor gasoline inventories increased by 3.4 million barrels last week, and are in the upper half of the average range. Both finished gasoline inventories and blending components inventories increased last week.
Distillate fuel inventories decreased by 1.7 million barrels last week but are in the upper half of the average range for this time of year. Propane/propylene inventories remained unchanged last week and are in the lower half of the average range. Total commercial petroleum inventories decreased by 4.6 million barrels last week.
My calculations (parameters previously described) suggest that at the average rate of decline over the past 15 weeks, it will take 35 weeks to "re-balance":
Week
|
Date
|
Drawdown
|
Storage
|
Weeks to RB
|
Week 0
|
Apr 26, 2017
|
529.0
|
180
|
|
Week 1
|
May 3, 2017
|
0.9
|
528.0
|
198
|
Week 2
|
May 10, 2017
|
6
|
522.0
|
50
|
Week 3
|
May 17, 2017
|
1.8
|
520.2
|
59
|
Week 4
|
May 24, 2017
|
4.4
|
515.8
|
51
|
Week 5
|
May 31, 2017
|
6.4
|
509.9
|
41
|
Week 6
|
June 7, 2017
|
-3.3
|
513.2
|
60
|
Week 7
|
June 14, 2017
|
1.7
|
511.5
|
57
|
Week 8
|
June 21, 2017
|
2.5
|
509.0
|
62
|
Week 9
|
June 28, 2017
|
-0.2
|
509.2
|
71
|
Week 10
|
July 6, 2017
|
6.3
|
502.9
|
58
|
Week 11
|
July 12, 2017
|
7.6
|
495.3
|
47
|
Week 12
|
July 19, 2017
|
4.7
|
490.6
|
43
|
Week 13
|
July 26, 2017
|
7.2
|
483.4
|
38
|
Week 14
|
August 2, 2017
|
1.5
|
481.9
|
37
|
Week 15
|
August 9, 2017
|
6.5
|
475.4
|
35
|
Other highlights:
- US refinery throughput hit a record: 17.6 million b/d; an increase of 166,000 b/d compared with the prior week
- US commercial crude stocks fell 6.5 million bbls to 475 million bbls; much faster than normal for this time of year
- US commercial crude stocks exhibiting largest summer seasonal draw since 2014
- US gasoline stocks now 5 million bbls below 2016 (a record year); the previous week the number was 11 million bbls below 2016
- John Kemp works hard at putting the Reuters spin on all this. From Kemp, via Twitter: US gasoline supplied averaged 9.8 million b/d last week which was just 28,000 b/d higher than 2016 (fails to mention that 2016 was a record year overall)
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