Debt Ceiling Vote -- McCarthy Looks For GOP Votes -- May 30, 2023

Locator: 44801ECON.
Locator: 44801POL.

Link here.

I truly must be missing something.

From the article

Did anyone do the math? Did anyone even read the article?

The GOP moves farther and farther away from me.

Again, from the linked article:

In one late development, the nonpartisan Congressional Budget Office said the spending restrictions in the package would reduce deficits by $1.5 trillion over the decade, a top goal for the Republicans trying to curb the debt load. [$1.5 trillion over the decade when the current debt is over $30 trillion.]

But in a surprise that could further erode Republican support, the GOP’s drive to impose work requirements on older Americans receiving food stamps ends up boosting spending by $2.1 billion over the time period. That’s because the final deal exempted veterans and homeless people, expanding the food stamp rolls by some 78,000 people monthly, the CBO said.

... would reduce deficits (sic) by $1.5 trillion, BUT this is what disturbs some MAGA GOP folks:

... the GOP’s drive to impose work requirements on older Americans receiving food stamps ends up boosting spending by $2.1 billion over the time period. That’s because the final deal exempted veterans and homeless people, expanding the food stamp rolls by some 78,000 people monthly.

Three things.

First, $2.1 billion vs $1.5 trillion. Do they take us for idiots?

Second: everyone knows this deficit reduction talk is a bunch of crap (but that's another story); and,

Third:

$2.1 billion "over the [same] time period." Over ten years. $2.1 billion / 10 years = $210 million vs a $6 trillion budget or 0.0000328 or 0.0033% / year; Lamar Jackson, NFL, has a contract that averages $32 million / year.

Not one word about increasing taxes on the top wealthiest 1% of Americans. But heaven forbid, grant veterans and homeless people exemptions from work requirements.

Wow.

Most cold-hearted ignoramuses on the planet. 

Buffett Buys More Oxy? May 30, 2023

Locator: 44800BRK.  

Link here.

Link here.

The Ovintiv Clear Creek Federal Wells In Westberg -- An Update -- May 30, 2023

Locator: 44799B. 

The Ovintiv Clear Creek Federal wells are tracked here.

From earlier today, from the daily activity report:

Seven producing wells (DUCs) reported as completed:

• 38690, 2,730, Ovintiv, Clear Creek Federal 152-97-36-25-5H,
• 38691, 2,193, Ovintiv, Clear Creek Federal 152-97-36-25-12H,
• 38692, 2,148, Ovintiv, Clear Creek Federal 152-97-36-25-6H,
• 38752, 1,524, Ovintiv, Clear Creek Federal 152-97-36-25-7H,
• 38753, 1,180, Ovintiv, Clear Creek Federal 152-97-36-25-13H,
• 38754, 891, Ovintiv, Clear Creek Federal 152-97-36-25-14H,
• 38875, 1,476, Ovintiv, Clear Creek Federal 152-97-36-25-8H,

Wells of interest and the rest of the Clear Creek Federal wells in that drilling unit:

• 22778, 1,433, Ovintiv, Clear Creek Federal 152-97-36-25-2H, Westberg, t9/12; cum 246K 3/23;
• 18267, 1,033, Ovintiv, Clear Creek Federal 1-36H, Westberg, t12/09; cum 106K 3/23;

The map:

Recent production:

• 18267: 3,458 bbls over 18 days --> 5,763 bbls over 30 days.

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	3-2023	18	3458	3272	3887	7596	5163	2274
BAKKEN	2-2023	0	0	0	0	0	0	0
BAKKEN	1-2023	28	404	535	60	1237	1063	0
BAKKEN	12-2022	31	293	245	173	1402	1123	0
BAKKEN	11-2022	30	444	327	153	1699	1429	0
BAKKEN	10-2022	31	479	490	185	1873	1594	0
BAKKEN	9-2022	30	528	792	307	2019	1749	0
BAKKEN	8-2022	31	932	862	428	2835	2556	0
BAKKEN	7-2022	5	142	0	160	294	253	0
BAKKEN	6-2022	0	0	0	0	0	0	0
BAKKEN	5-2022	0	0	0	0	0	0	0
BAKKEN	4-2022	1	0	0	0	33	33	0
BAKKEN	3-2022	31	2	0	35	54	54	0
BAKKEN	2-2022	19	37	0	31	200	200	0
BAKKEN	1-2022	31	590	560	132	1382	1382	0
BAKKEN	12-2021	31	120	281	57	495	412	0

Look At The NITS On That Apple Headset -- May 30, 2023

Locator: 44798AAPL. 

Link here.

With ~5000 nits brightness or more, the AR/VR headset from Apple would support HDR or high dynamic range content, which is not typical for current VR headsets on the market.

The Meta Quest 2, for example, maxes out around 100 nits of brightness and it does not offer HDR, and the HoloLens 2 offers 500 nits brightness. 100 nits? Apple is talking 5,000 nits!

Sony's PSVR 2 headset has around 265 nits of brightness, and it does have an advertised HDR feature when connected to an HDR display.

If Apple hits that 5000+ nits brightness target, its headset will offer a display experience that competitors are unable to match.

But look at this:

If Apple hits that 5000+ nits brightness target, its headset will offer a display experience that competitors are unable to match, and it will also set the stage for future AR glasses. 

It's possible, Tim Cook's AV/VR headset presentation could match anything he's presented in the past, though it would be hard to exceed what Steve Jobs could do. 

The most difficult thing about marketing the AV/VR headset is to make the leap from featuring bizarre, schizoid movements by actors wearing the headset to what it can really do .... beyond gaming and without making the wearer look like an idiot.

Current Events -- No Oil, No Bakken, Rambling -- May 30, 2023

Locator: 44797ARCH.   

Cape Cod: when we lived in Belmont, a suburb west of Boston, one of our favorite weekend trips was to drive up US Highway 6 the length of Cape Cod to Provincetown. I see that billionaire Bill Koch has put eleven acres of his Cape Cod holdings on the market for about $16 million. It is estimated he owns about forty acres of land on Cape Cod. Downsizing at age 83. $16 million / $1.6 billion net worth = 1% of his net worth. The non-ocean-front acreage is on the elbow, Osterville, northeast of Martha's Vineyard, the island across Nantucket Sound from the peninsula. 

Dina Powell McCormick, 49 years old, moving out of government and Goldman Sachs into "private practice." Great article in The WSJ today, and more background at wiki.

Elizabeth Holmes, ten years younger than McCormick reports to prison in Texas today, and will be a year older than McCormick is now when she completes her 11-year sentence, though I assume she will be released early for good behavior and on humanitarian grounds (she has two very young children). No links; story everywhere; beat to death (the story, not Elizabeth).

Grandstanding: apparently the B-M debt ceiling bill will be "released" from a US House committee within the next twelve hours and the US House will vote on the bill, most likely pass it, and, if so, forward the bill to the US Senate. 

It looks like the US Senate will have plenty of time to consider the bill. If the "x-date" is June 5, 2023, that means the "heavy lifting" for June has been done: the military active duty and military pensioners have been paid. The US Senate won't prevent checks from going to seniors on social security, those who vote in lopsided numbers, unlike children and infants who don't vote at all. 

I suppose it will be a "game of chicken" -- see how close "they" can came before they reach "x-hour." I guess June 5 is next Monday so they can do some last minute things this week, then back to the House to line up the two versions over the weekend and have it on the president's desk on Monday.

Photo op Monday, June 5, 2023.

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Investing

Over the weekend I started thinking about investing in TSLA. Earlier in the week or over the weekend (I forget) I posted the four reasons why TSLA has really excited me. I've never invested in TSLA but I'm pretty sure by the end of June, 2023, I will be a TSLA investor. It would be nice to have a bit more granularity, as they say, with regard to the Tesla pick-up.

There's a lot of buzz right now regarding the Cybertruck, and without question, TSLA will pop when we see VIN ID TSLA000000001 roll out of the Giga Texas manufacturing plant. I won't be buying TSLA as a trader or a short-term investment. I have a rolling 30-year horizon.

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. 

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QCOM

The last year or so has not been good for QCOM, like many of the beat-down tech companies. 

Over the last five days, up 11.5% and today, up 5%. 

Compare with AVGO: up 16.5% over the last five days; down 1% today, but the last six months, up 45%.