Locator: 48265NOG.
NOG, link here:
The ticker:
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Decorated By Sophia
Good luck to all.
Tuesday, July 30, 2024
NOG: 2Q24 Earnings And Guidance -- July 30, 2024
Good luck to all.
Wisconsin's Occupied Bald Eagle Nests -- July 30, 2024
Locator: 48267EAGLES.
Tag: Lesbos, Sappho
Wisconsin's occupied bald eagle nests in 1974 and 2019. Absolutely amazing. Link here.
Meanwhile, we're still seeing a lot of Swainson's hawks overhead in the DFW area. See this post from 2020.
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The Book Page
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Wind Power
Wind Power
Tesla And Regulatory Credits -- Re-Posting -- July 30, 2024
Locator: 48266TESLA.
How regulatory credits work -- CNBC -- May 18, 2021. NOTE THE DATE!
Cornering the market: one of the talking heads mentioned in passing that Ford was complaining that Tesla was cornering the market on EV regulatory credits.
EV woes: link here.
Time to get back to this story: link here, July 24, 2024. One of two under-reported stories for Tesla, carbon credits, regulatory credits, income from other auto manufacturers:
Links, blog only:
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Reuters
Buried in that article, perhaps the most important data point of which folks are not paying attention:
Regulatory credits -- income:
- CY2023: a record, $1.79 billion
- 2Q24: a record, $890 million; annualized 4 x 0.890 billion = $3.56 billion
Where's that money coming from: Ford, GM, Stellantis, others.
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Other Media Links
This whole story reminds me of the business models of car rental companies like Hertz.
Tesla’s 2023 regulatory credits generated an additional $1.79 billion in revenue, according to its 10-K filed last week.
The money Tesla makes due to other carmakers needing assistance to reach emissions standards continues to accumulate, and since 2009, it has made almost $9 billion in revenue because of the system.
Bloomberg reported this morning that Tesla’s $9 billion in revenue due to the sale of regulatory credits has helped the company obtain what is basically pure profit. Former Tesla Chief Financial Officer (CFO) Zachary Kirkhorn, who left the company last year, said the credits would eventually go away as other automakers caught up to emissions standards.
However, that was in 2020. Tesla has brought in over $1.7 billion in credits in both 2022 and 2023, while 2020’s total was $1.58 billion.
Although many large automakers have pledged to transition to EVs, it has been a much more difficult road than initially imagined.
Volkswagen and General Motors are two companies mentioned in the report that have had trouble reaching EV goals and have, in turn, needed help meeting emissions standards.
One year after the release of its first electric vehicle (EV), the Roadster, Tesla began selling carbon credits to various automakers. While Tesla enjoyed high profits as the pioneer of all-electric passenger cars, the balance in the carbon credit market is about to change. Tesla is no longer the top all-electric producer, and major automakers are changing their strategy from just buying time to updating their zero-emission strategies.
Selling carbon credits has always been a lucrative business for Tesla. In Q4 2020, according to CNBC, Tesla generated $270 million in net income by selling $401 million in regulatory credits. In Q1 2021, Tesla generated $518 million from selling regulatory credits.
Profits continued to grow. According to Tesla's financial reports, revenue generated from carbon credits was $1.46 billion as of the fiscal year 2021, representing 3% of the brand's total revenue. Revenue peaked in 2023, hitting $1.79 billion, according to the brand's Q4 2023 report. Tesla has generated $9 billion from selling carbon credits to other electric vehicle (EV) manufacturers since 2009.
We shall look at the figures from Q3 2023 to note how profitable selling carbon credits is. That quarter, Tesla generated $554 million from selling carbon credits, representing 29% of the company's net income. Notably, carbon credit revenue jumped 94% in that quarter, year-on-year.
CarbonCredits, February 13, 2024:
Elon Musk’s Tesla generated a substantial $1.79 billion from carbon credit sales last year, as revealed in their Q4 2023 and annual financial report, bringing its total earnings from such credits since 2009 to nearly $9 billion. This revenue comes from trading regulatory credits to other automakers unable to meet emission regulations in the US, Europe, and China.
Tesla continues to profit from the need of its rivals to meet emissions standards. It is a lucrative business that was initially expected to diminish. Since the EV giant incurs minimal additional costs to earn these credits, the sales represent almost pure profit.
Ticker: Tesla has become a stock for traders, not necessarily investors:
Oasis Olson Wells
Locator: 48264B.
Updates
April 23, 2025: Production data updated. Link here.
Original Post
The wells:
- 40767, conf, Oasis, Olson State Federal 5399 41-9 5B, Crazy Man Creek,
- 40766, conf, Oasis, Olson State Federal 5399 41-9 2B, Crazy Man Creek,
- 40763, conf, Oasis, Olson State Federal 5399 41-9 3B, Crazy Man Creek,
- 40633, conf, Oasis, Olson State Federal 5399 41-9 4B, Crazy Man Creek,
- 20120, IA/385, Oasis, Olson State 11X-16, Crazy Man Creek, t12/11; cum 288K 5/24; an incredibly mediocre well; will be interesting to see what newer wells do in this same spacing unit; cum 292K 11/24; remains off line.
The maps:
WTI Continues To Drop As US Driving Season Starts To Wane, China Demand Falls -- July 30, 2024
Locator: 48263B.
WTI: 475.22.
Wednesday, July 31, 2024: 56 for the month; 56 for the quarter, 382 for the year
40412, conf, CLR, Anheluk 5-26HSL,
40176, conf, Slawson, Cyclone 5-21-16H,
40086, conf, Phoenix Operating, Jean Ferrari 26-35-2 1H,
39514, conf, Liberty Resources, Haley E 158-93-29-32-4MBH,
Tuesday, July30, 2024: 52 for the month; 52 for the quarter, 378 for the year
40413, conf, CLR, Hellickson Paluck 2-25H,
40087, conf, Phoenix Operating, Jean Ferrari 26-35-2-2H,
39515, conf, Liberty Resources, Haley E 158-93-29-32-5MBH,
RBN Energy: refiners increasingly relying on hydrocracking capacity as fuel demand shifts.
More than a decade ago, several U.S. refiners brought new hydrocracking capacity online, wagering that rising demand for middle distillates made such major investments necessary. They were good bets. Demand for jet fuel is expected to continue to grow, and while diesel demand is seen as relatively flat in the U.S. over the next few years, it will continue to climb globally through 2045, according to RBN’s recently released Future of Fuels report. In contrast, the report also sees domestic gasoline demand declines accelerating post-2026 and peaking globally by about 2030, as more consumers turn to electric vehicles (EVs). These contrasting trajectories for middle distillates vs. gasoline will put a growing premium on distillate-centric hydrocracking capacity. In today’s RBN blog, we’ll examine trends incentivizing hydrocracking capacity and how these units will allow U.S. refiners to maintain their competitiveness in a rapidly changing product market.
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