For Now, To Be Updated -- It's The Weekend -- August 26, 2023

Locator: 45478GRANDE.  

Sanctuary: to date, Texas has bussed 30,000 immigrants to other states.

PGA Tour championship: holy mackerel -- what an amazing change in the third round. Collin Morikawa and Scottie Scheffler have a melt-down. Scottie is/was the darling of the network. Collin Morikawa was going to be an incredible story -- and now Victor Hovland by ten strokes over Scottie Scheffler. Viktor: Norwegian. 

ERCOT: another record-setting day, and despite all the hysteria, the grid easily holds. 

********************************        
Something Light

Or this "Weeknd":

***************************
Family Note

Levi:

Exchange between Levi (L), age 3, and his mother, Laura:

Where We Stand With Regard To Renewable Energy -- August 26, 2023

Locator: 45477RENEWABLES.  

For the archives. Perhaps the best update so far this year.

Link here.

Data points:

• US power generation from gas-fired plants jumped by 10%, first eight months of 2023, compared to same period, 2022, one year earlier, still coming out of the pandemic
• this jump occurred despite overall electricity generation declined by 2.1% so far in 2023
• meanwhile, natural gas in electricity generation in the US has averaged:
• 40.4% this year to date; compared to
• 36% for same period last year.
• electricity generation:
• from coal: continued to drop
• "clean power" flat due to lower wind speeds and lower hydropower generation offset a surg ein solar power output
• By category:
• nuclear and hydropower: 40.5% of America's total power generation, 2023 to date;
• compared to 39.9% in the same period last year (2022)
• despite a surge in renewables installations, power output from wind and hydro was lower than usual -- lower wind speeds and drought in Pacific Northwest
• a lot more statistics at the linked article, but bottom line:
• renewable installation exceeding nuclear production
• but renewable power has been basically flat
• one can do the math
• making up the shortfall? Natural gas.

This, all against the backdrop, of increasing EV penetration. 

Solar and wind won't be able to keep up. Period. Dot.

Worse, much of the wind generation is not where the US population is centered: east of the Mississippi. 

Cumulatively, operating clean power capacity in the U.S. is now more than 237 GW, accounting for 15.1% of electricity generated. Texas leads with 26.353 GW, or 18% of total operating U.S. clean power, followed by California with an 11% share and New York with 6% of operating clean power. 

Bottom line:

• renewable installation exceeding nuclear production
• but renewable power has been basically flat
• one can do the math
• making up the shortfall? Natural gas.

Saturday Morning -- August 26, 2023

Locator: 45476B. 

DFW: a record yesterday -- 110°F. "Normal": 94°F. The grid came close to maxing out last evening, but "we held." 

EVs: I'm not going to get into it this morning, but there's no way California goes all electric by 2035.

Fed is "done": that was my takeaway after the speech, though I waffled a bit suggesting we could see one last rate hike in September. Link here to The WSJ. But, now, the pros are suggesting that if there is one rate hike, it won't be in September.

Crypto, perhaps not so "crypto"?

***************************
Sriracha Gotcha?

The South has you covered.

From Southern Living:

Week 34: August 21, 2023 -- August 27, 2023

Locator: 45475TOP. 

Top story:

• 
  

Top international non-energy story:

• Russian-Ukraine war continues but it seems "no one" knows.
• General Prigozhin killed in plane crash
• NATO to provide Ukraine with F-16s; 
• pilots will train in US
  

Top international energy story:

• Saudi Arabia says it may extend production cuts — lower for longer
  

Top national non-energy story:

• Trump mugshot — one for the books — Georgia

Top national energy story:

Focus on fracking: most recent edition.

Top North Dakota non-energy story:

• ND governor on presidential debate stage

Top North Dakota energy story:

• Active rigs drop to 33, maybe lower

Geoff Simon's top North Dakota energy stories:

•  Quick connects.
  

Bakken economy:

Commentary:

Entertainment:

TGIF, Part 3 -- August 25, 2023

Locator: 45474B.  

MO: like clockwork, increases its dividend by more than 4%. Now pays 9%.

Market: I can't recall if I posted this on the blog earlier this morning or if it was in an e-mail note to a reader but while listening to JPow's speech in real-time ("live") I opined that his remarks would result in the market surging today. The market did not react as much and as quickly as I thought it would, but no complaints.

It's hard for me to believe that anyone thought JPow would say anything other than what he said.

Whatever.

At the close:

*************************************
Back to the Bakken 

WTI: $79.83.

Active rigs: 32.

Seven new permits, #40152 - #40158, inclusive:

• Operators: Hess (7); Summit Carbon Storagge
• Fields: White Earth (Mountrail); wildcat (Oliver)
• Comments:
• Summit Carbon Storage has a permit for a TB Leingang well, SENE 18-141-87
• Hess has permits for three EN-Engebretson wells and three EN-Schroeder wells,  SWSW 11-157-94;
• to be sited 836 FSL and between 491 FWL and 656 FWL

Four permits renewed:

• Zavanna: four Hunter permits, Foreman Butte, McKenzie County