Locator: 46064INV.
China: backed itself into a deflationary corner.
UAW: ratifies GM deal. Others still voting.
Bidenomics: even Joe Kernan, CNBC, is asking the right questions; he's starting to get it. LOL. The question some folks now asking, "is it really this good?"
China vs Biden: surprise.
Stocks vs bonds? Stocks are more appealing than bonds. MMFs looking less attractive.
Tea leaves: new car prices hold, maybe come down significantly. Moments after posting that, this popped up:
AAPL: looking good. Really quite amazing, considering. Why? That standing ovation for Xi.
WMT: at $1.53 missed by a wide margin whisper earnings number of $1.60; soft guidance. Down as much as $10 on a $170-share company.
MSFT: hits a new all-time high. Best investment decision I made in the last 18 months: MSFT.
Dow: was slightly green; now red. WMT spooked the market.
Personal investing, today:
- bought CVX
- bought WMT
- bought DVN
Best hour on CNBC: 11:00 to 12:00 a.m. CT. "Halftime Report." Even better than "Fast Money" and "Mad Money."
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.
Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.
Hamas: is on its own. No regional power will go to aid of Hamas, not even Hezbollah. Early strikes by US on Syrian-Iranian targets have ensured Iran thinks carefully about its military actions going forward. The Xi-Biden "summit" kept global saber-rattling to a minimum. Peter Zeihan.
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Back to the Bakken
WTI: $75.91. Whatever happened to all that $150-oil talk?
Friday, November 17, 2023: 121 for the month; 121 for the quarter, 691 for the year
39837, conf, CLR, North Tarentaise Federal 9-18HSL2,
Thursday, November 16, 2023: 120 for the month; 120 for the quarter, 690 for the year
39586,
conf, WPX, Spotted Rabbit 14-23
HI,
RBN Energy: will the TMX project narrow the price discount for western Canada's heavy oil?
Wider price discounts for Western Canadian heavy crude oil have been
weighing on its oil producers for the past few months. This appears to
be the result of a combination of weak refinery demand, rapidly rising
oil production and insufficient oil takeaway capacity from Western
Canada. A more permanent solution for wider discounts might be to
increase pipeline export capacity to ensure that rising oil production
has more options to reach markets. In today’s RBN blog, we consider the
pending startup of the Trans Mountain Expansion Project (TMX) as a means
to do just that.
Western Canada’s heavy crude oil pricing situation is in a funk once
again. In just a few months, the discount for its heavy oil benchmark
Western Canadian Select (WCS) at the Alberta trading hub of Hardisty has
sunk from a historically tight $10/bbl versus WTI at Cushing, OK, to
more than $28/bbl by early November — a near tripling of the discount.
When placed in the context of WTI prices that have held between $75/bbl
and $85/bbl over the same time span, that additional $15 to $20 discount
is taken right off the top for some heavy crude oil producers and has
become an all-too-common conversation topic on those same producers’
quarterly earnings calls in recent weeks.
