US Personal Savings Rate -- August 4, 2023

Locator: 45330ECON.

Link here.

At one time, I said I have never seen a definition of "savings" that "satisfied" me. Maybe I wasn't looking hard enough. LOL. Here we go.

Savings = income - spending.

Of course, that begs the question: is buying a house a type of forced savings? Other examples, investments or forced savings?

• whole life insurance;
• annuities;
• a second home;
• a small hobby farm / hobby ranch;
• other real property like art;
• paying for education.

Gasoline Demand And The WFH Trend -- August 4, 2023

Locator: 45329GASOLINEDEMAND.

WFH: work from home.

Updates

August 5, 2023: from The WSJ -- to attract workers, employers need to offer prospective employees the opportunity to work from home at least one day per week. Link here. 

Original Post

Gasoline demand, from August 2, 2023:

 This past week, in the weekly EIA petroleum report -- did you all note the weekly gasoline demand chart? Ghastly, and posted by the EIA without comment:

This is simply ghastly ... and again, reported, without comment by anyone.

But, could this explain some of the drop-off in gasoline demand (and, no, it's not yet due to EVs):

Today's employees: 

• does this explain "gasoline demand"?

Google:

• trying to lure workers back;

Around The Net -- The TGIF Edition -- August 4, 2023

Locator: 45328TGIF.

Buffett: 

• closing in on record high.
• SNOW.

NVDA:

• IBD, August 3, 2023

AAPL:

• surprises in China; sets India high;
• earnings: MacRumors.

Air travel:

• link here.

Today's employees: 

• does this explain "gasoline demand"?

Google:

• trying to lure workers back;

And, finally, my favorite chart:

• link here.

Fisker Update -- Nikola Update -- 2Q23

Locator: 45328EVS. 

EVs: link here. Scorecard. 

• cash burn

********************************

Fisker

Link here.

****************************

Nikola

Link here.

Five Wells Coming Off Confidential List; Nice Jobs Report; WTI At $82 -- August 4, 2023

Locator: 45327B. 

Jobs, link here:

• 187,000 vs 200,000
• unemployment: 3.5% vs 3.6%
• slightly above the lowest rate since late 1969
• wages rose 0.4% for the month; represents 4.4% annual pace -- both above estimates

*****************************

Back to the Bakken

WTI: $81.97

Sunday, August 6, 2023: 12 for the month; 214 for the quarter, 469 for the year
39314, conf, Stephens Williston DBA SEG Williston, Gernand 13X-32D,

 

Saturday, August 5, 2023: 11 for the month; 213 for the quarter, 468 for the year
39313, conf, Stephens Williston DBA SEG Williston, Gernand 13X-32C, 
38947, conf, Hess, BW-Rolfson-151-98-2116H-14, 

Friday, August 4, 2023: 9 for the month; 211 for the quarter, 466 for the year
39570, conf, Challenger Point Energy, Jacobsen 13-6, 
39539, conf, WPX, Two Shields Butte 16-8-7-13HA,
39480, conf, CLR, Meadowlark 12-6HSL1, 
39472, conf, Ovintiv, Newman 150-97-21-16-1H,
35018, conf, BR, Lillibridge 1C MBH,

RBN Energy: as IMO targets additional emissions reductions, LNG carriers play a role. 

Cargo ships move more than 80% of the world’s internationally traded goods, making them essential to the global economy, but they’ve traditionally been fueled by heavy fuel oil or marine gasoil, both of which are emissions-intensive. With 60,000 or so ships in service, they account for an estimated 2.8% of global greenhouse gas (GHG) emissions, a percentage the International Maritime Organization (IMO) would like to reduce. At the 80^th session of the IMO’s Maritime Environment Protection Committee (MEPC) in July, the group adopted a provisional agreement to eliminate GHG emissions from shipping by a date as close to 2050 as possible, with intermediate goals for emissions reduction by 2030 and 2040. Clearly, radical innovations will be required to meet the IMO’s goals. In today’s RBN blog, we look at some of the initiatives directed at emissions reduction in shipping and the challenges to (and opportunities for) operational improvements, especially regarding LNG carriers.