Saudi Arabia crude oil imports into the US are down slightly:
But, overall OPEC crude oil imports into the US are up:
See if you can spot the problem?
As long as we're doing graphs, let's look at one more. US crude oil exports:
Monday, July 31, 2017
Total OPEC Imports UP; Saudi Imports DOWN -- July 31, 2017
The most recent import; just posted. May, 2017, data.
Saudi Arabia crude oil imports into the US are down slightly:
But, overall OPEC crude oil imports into the US are up:
Machts nicht.
See if you can spot the problem?
As long as we're doing graphs, let's look at one more. US crude oil exports:
Saudi Arabia crude oil imports into the US are down slightly:
But, overall OPEC crude oil imports into the US are up:
See if you can spot the problem?
As long as we're doing graphs, let's look at one more. US crude oil exports:
Venezuela Imploding -- July 31, 2017
There are going to be a lot of articles in the mainstream media with regard to what might happen if the flow of Venezuelan oil is cut off. I've talked about this so much over the past several years in an indirect way, I have no interest in opining on what might happen with regard to Venezuela and oil. For now, I won't blog on that; I've simply grown too tired / bored with the subject. Perhaps for the archives, I might link headlines but that's about it. It will be a fascinating story to watch. I will blog about it eventually, I assume, but not for awhile.
Having said that, holy mackerel ... have you see equity futures this evening! The Dow 30 has been climbing all night; right now, Dow 30 futures are up 82 points; the Nasdaq up 21 points; and the S&P 500 is up 6 points (again, futures at 9:21 p.m. Eastern Time). [At 10:05 Eastern Time, Dow 30 futures are up 94 points. I've seen this movie before. By tomorrow morning, the market will open down. LOL.]
I can hardly wait for the early morning presidential tweets. LOL.
... and no one is commenting on that, that no one seems to care. Not only does no one seem to care, but the stock market continues to surge despite the fact that North Korea is launching ICBM missiles on a daily basis, it seems. The most recent ones are able to reach the US, and the US military now suggests that within a year, North Korea will be able to launch these missiles with a nuclear weapon on top, like a cherry on a sundae.
This begs the question: would the market be hitting new records under these circumstances if a Jimmy Carter were president? if a Barack Obama were president? If a Gerald Ford were president?
I don't know. But for all the crap the mainstream media gives President Trump each day and for all the crap the opposition party gives President Trump each day, one gets the feeling that not only is everyone sleeping well at night because he IS president, but they are so comfortable with him as president at this particular time, they have no problem driving the market higher.
It doesn't hurt that he is surrounding himself with retired general officers who have served in South Korea and who have studied North Korea for decades.
This past quarter (2Q17) is a "dead quarter" for Apple. No one cares what Apple reports this week; everyone is interested in the third quarter (3Q17) with the new iPhone release, and, of course, the fourth quarter -- the holiday quarter -- the big quarter for Apple.
But this was the great insight I heard on CNBC today regarding Apple. People shorting Apple are spreading the story/rumor that Apple might miss its launch date for the new Apple phone. Here's a little secret: no one cares. People are so used to delays in getting their new Apple products (for whatever reason) that a launch delay is ... well, yawn.
Helping put this in perspective, of course, Tesla "always" misses its deadlines and no one cares, least of all Musk Melon.
There will be a lot of talk about Apple missing its iPhone launch date over the next few weeks.
And, no one will care. Next subject.
I really, really enjoyed the hour-long special on TCM tonight, a repeat showing of the 2017 recipient of the AFI Life Achievement Award, but how in the world did Diane Keaton ever win this award?
*******************
Futures Mean Squat
Having said that, holy mackerel ... have you see equity futures this evening! The Dow 30 has been climbing all night; right now, Dow 30 futures are up 82 points; the Nasdaq up 21 points; and the S&P 500 is up 6 points (again, futures at 9:21 p.m. Eastern Time). [At 10:05 Eastern Time, Dow 30 futures are up 94 points. I've seen this movie before. By tomorrow morning, the market will open down. LOL.]
I can hardly wait for the early morning presidential tweets. LOL.
************************
North Korea Keeps Launching ICMB Missiles .. and No One Seems To Care...
... and no one is commenting on that, that no one seems to care. Not only does no one seem to care, but the stock market continues to surge despite the fact that North Korea is launching ICBM missiles on a daily basis, it seems. The most recent ones are able to reach the US, and the US military now suggests that within a year, North Korea will be able to launch these missiles with a nuclear weapon on top, like a cherry on a sundae.
This begs the question: would the market be hitting new records under these circumstances if a Jimmy Carter were president? if a Barack Obama were president? If a Gerald Ford were president?
I don't know. But for all the crap the mainstream media gives President Trump each day and for all the crap the opposition party gives President Trump each day, one gets the feeling that not only is everyone sleeping well at night because he IS president, but they are so comfortable with him as president at this particular time, they have no problem driving the market higher.
It doesn't hurt that he is surrounding himself with retired general officers who have served in South Korea and who have studied North Korea for decades.
**************************
The Apple Page
This past quarter (2Q17) is a "dead quarter" for Apple. No one cares what Apple reports this week; everyone is interested in the third quarter (3Q17) with the new iPhone release, and, of course, the fourth quarter -- the holiday quarter -- the big quarter for Apple.
But this was the great insight I heard on CNBC today regarding Apple. People shorting Apple are spreading the story/rumor that Apple might miss its launch date for the new Apple phone. Here's a little secret: no one cares. People are so used to delays in getting their new Apple products (for whatever reason) that a launch delay is ... well, yawn.
Helping put this in perspective, of course, Tesla "always" misses its deadlines and no one cares, least of all Musk Melon.
There will be a lot of talk about Apple missing its iPhone launch date over the next few weeks.
And, no one will care. Next subject.
********************************
TCM
I really, really enjoyed the hour-long special on TCM tonight, a repeat showing of the 2017 recipient of the AFI Life Achievement Award, but how in the world did Diane Keaton ever win this award?
They're Reading The Blog -- July 31, 2017
From Investor's Business Daily:
What a doofus
Energy: Last week Royal Dutch Shell (RDSA) told investors that it expects oil prices to be "lower forever." We're still waiting for all those people who were only recently complaining about higher-forever oil prices to admit their mistake. It wasn't that long ago that President Obama was mocking Republicans for their "three-point plan for $2 gas: Step one is drill, step two is drill, and step three is keeping drilling."One might also ask where all those speculators are that are always being blamed for driving up prices of crude oil and gasoline. Many onshore oil companies have declared bankruptcy in the past year, and shares of XOM are trading at 52-week lows. Why aren't the speculators doing more to help these companies? Inquiring minds want to know.
He went on to say that "the American people aren't stupid. They know that's not a plan." Renewable energy, he said, was the only way to solve the "problem" of high oil prices.
And he kept pushing for new taxes on "old" energy to support federal subsidies for the energy supplies "of the future."
Of course, Obama wasn't the only one. There was endless talk about how Big Oil was making obscene profits while gas prices skyrocketed. There were calls for investigations into collusion among oil companies. Some wanted to bring back the Jimmy Carter-era "windfall profits tax."
Turns out drill, baby, drill was exactly what was needed.
Domestic oil production was skyrocketing even as Obama made those remarks — thanks to advanced drilling technologies that have opened up vast new domestic supplies to production.
The Energy Information Administration projects that, next year, U.S. oil production will average almost 10 billion barrels a day, which would beat the previous record of 9.6 billion in 1970. What's more, a quarter of this production is coming from one oil field: the Permian Basin in West Texas.
Eight New Permits; Five DUCS Reported As Completed -- July 31, 2017
Active rigs:
Eight new permits:
In cockpits, there is a fold-up seat between and behind the pilot/co-pilot seats: it's called the jump seat. You may have seen it in the movie, Catch Me If You Can.
Apparently Sophia was able to have her seat assignment upgraded.
| $50.14 | 7/31/2017 | 07/31/2016 | 07/31/2015 | 07/31/2014 | 07/31/2013 |
|---|---|---|---|---|---|
| Active Rigs | 61 | 35 | 74 | 193 | 180 |
Eight new permits:
- Operators: Hess (5); Oasis (3)
- Fields: Beaver Lodge (Williams); Banks (McKenzie)
- Comments: Hess with permits for an E Burdick 5-well pad in SESE 19-155-95; Oasis with permits for a Berquist 3-well pad in NWNE 27-152-98
- Armstrong Operating has two wells plugged or producing, one Renville County (a Hanson well) and one in Stark County (a Frenzel well)
- 27419, 2,013, CLR, Garfield Federal 6-5H, Banks, t6/17; cum --
- 27421, 2,032, CLR, Garfield 4-5H, Banks, t6/17; cum --
- 30871, 284, BR, Curtis 21-16 TFH-3NH, North Fork, t6/17; cum --
- 30872, 526, BR, Saddle Butt 21-16 MBH-3SH, North Fork, t6/17; cum --
- 33148, 142, STRI, 22-15 163-90B, Stony Run, t7/17; cum --
***********************************
Upgrade
In cockpits, there is a fold-up seat between and behind the pilot/co-pilot seats: it's called the jump seat. You may have seen it in the movie, Catch Me If You Can.
Apparently Sophia was able to have her seat assignment upgraded.
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