Tuesday, April 9, 2024

Vibecession -- April 9, 2024

Locator: 46966ECONOMY.

Link here.

Vibecession is a neologism that refers to a disconnect between the economy of a country and the general public's negative perception of it, which is mostly pessimistic. The term was coined by Kyla Scanlon in a June 2022 newsletter about Americans' view of their economy.

It is a portmanteau of the words 'vibes' and 'recession'. 

Where, when, and how the word was coined.

Kyla Scanlon.

I love JPow's quote, below:

I agree completely. 

I might have to read her book.

I understand how folks connect the dots and argue that the US government "printing" money leads to inflation.

I'm not convinced of that. But I understand how folks can connect the dots and arrive at that conclusion.

[Question: if printing money is the cause of inflation, why did inflation drop precipitously from early 2023 to early 2024 when government debt worsened, the deficit worsened, and all indications are that both will be worse a year from now -- and yet inflation is back down to its historic "norms" -- about two to three percent.] 

[Question: why does inflation vary from year to year, month to month, if inflation is due to printing money and printing money (as we understand it colloquially) continues to get worse over the past several decades?]

[Suggestion: this might be a good time to read three really, really good books on hyperinflation and the Weimar Republic. Printing money was "something that happened" but was not the cause of hyperinflation.]

This is the IMF (?) definition of inflation but the definition says nothing about what actually causes inflation. 

LinkedIn.

And yes, I've ordered her book. This is truly going to be a hoot.

Posted by at

The Enerplus "Fishing" Pad In Eagle Nest

Locator: 46965ENERPLUSFISHING.

The Wells

On separate pads in Eagle Nest:

  • 32341, loc/drl, Enerplus, Quillfish 149-95-36C-25H-TF-LLW, Eagle Nest, t10/16; cum 450K 6/24;
  • 31071, loc/drl, Enerplus, Bait 149-95-36C-25H, Eagle Nest, t10/16; cum 535K 6/24;
  • 31072, loc/drl, Enerplus, Tackle 149-95-36C-25H TF, Eagle Nest, t10/16; cum 491K 6/24;
  • 40654, loc/drl, Enerplus, Bobber 149-95-36C-25H, Eagle Nest,
  • 40655, loc/drl, Enerplus, Hook 149-95-36C-25H, Eagle Nest,
  • 40656, loc/drl, Enerplus, Waders 149-95-36D-25H, Eagle Nest,
  • 40657, loc/drl, Enerplus, Line 149-95-36D-25H, Eagle Nest,
  • 40658, loc/drl, Enerplus, Reel 149-95-36D-25H, Eagle Nest,
  • 40659, loc/drl, Enerplus, Rod 149-95-36D-25H, Eagle Nest,

 Early Production

The wells:

  • 32341, loc/drl, Enerplus, Quillfish 149-95-36C-25H-TF-LLW, Eagle Nest, t10/16; cum 450K 6/24; cum 464K 4/24;
  • 31071, loc/drl, Enerplus, Bait 149-95-36C-25H, Eagle Nest, t10/16; cum 535K 6/24; cum 544K 4/25;
  • 31072, loc/drl, Enerplus, Tackle 149-95-36C-25H TF, Eagle Nest, t10/16; cum 491K 6/24; cum 514K 4/25;
  • 40654, loc/drl, Enerplus, Bobber 149-95-36C-25H, Eagle Nest,
DateOil RunsMCF Sold
4-20252396345624
3-20252654952166
2-20253326546838
  • 40655, loc/drl, Enerplus, Hook 149-95-36C-25H, Eagle Nest,
DateOil RunsMCF Sold
4-20252997153639
3-20252807054229
2-20253495153245
  • 40656, loc/drl, Enerplus, Waders 149-95-36D-25H, Eagle Nest,
DateOil RunsMCF Sold
4-20252827748156
3-20253337361932
2-20253925258417
  • 40657, loc/drl, Enerplus, Line 149-95-36D-25H, Eagle Nest,
DateOil RunsMCF Sold
4-20253640163605
3-20252655450754
2-20253218748568
  • 40658, loc/drl, Enerplus, Reel 149-95-36D-25H, Eagle Nest,
DateOil RunsMCF Sold
4-20253616158361
3-20252277941581
2-20253018842003
  • 40659, loc/drl, Enerplus, Rod 149-95-36D-25H, Eagle Nest,
DateOil RunsMCF Sold
4-20252266536999
3-20252816550981
2-20253858857346

Original Note

Six new permits, #40654 - #40659, inclusive:

  • Operator: Enerplus
  • Field: Eagle Nest (McKenzie County)
  • Comments:
  • Enerplus has permits for a six-well "Fishing" pad, SESE 36-149-95 / lot 4, section 31-149-94, 
    • with wells to be sited between 449 FSL and 401 FSL and between 20 FEL and 148 FWL (right along the section line); the wells, Bobber, Hook, Waders, Line, Reel, and Rod.

The maps: I believe I have the location correct, but I have been know to make mistakes on such maps.


Posted by at

Enerplus With Six New Permits; Eight Permits Renewed; And One DUC Reported As Completed -- April 9, 2024

Locator: 46964B.

Volume surges, link here:

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

WTI: $85.28.

Active rigs: 35.

Six new permits, #40654 - #40659, inclusive:

  • Operator: Enerplus
  • Field: Eagle Nest (McKenzie County)
  • Comments:
  • Enerplus has permits for a six-well "Fishing" pad, SESE 36-149-95 / lot 4, section 31-149-94, 
    • with wells to be sited between 449 FSL and 401 FSL and between 20 FEL and 148 FWL (right along the section line); the wells, Bobber, Hook, Waders, Line, Reel, and Rod.

Eight permits renewed:

  • Operator: SOGC; a Nelson permit, Kittleson, Mountrail; six Lizzie Rae permits, Lone Butte, McKenzie; and a Crosby Creek permit, Little Knife, Dunn County;

One producing well (a DUC) reported as completed:

  • 39724, 1,296, WPX, Bull Moose 28-27HY,
Posted by at

A Fallacy -- April 9, 224

Locator: 46963BUFFETT.

See if you can find the fallacy in this news story: Buffett's favorite indicator.

***************************
EV Poll In The US

Link here. The number has increased in 2024 over numbers in 2023. 

Almost half of all Americans would not even consider buying an EV, much less even buy one.

More Americans said in 2024 that they would not consider purchasing an electric vehicle (EV) than in 2023, a new Gallup poll found.

The poll found that 48 percent of respondents said they would not consider buying an electric vehicle — up 7 percentage points than those who said the same in 2023. Thirty-five percent said in the latest survey they might consider purchasing one, and 9 percent said they were seriously considering it.

The new poll also found that the percentage of Americans who said they owned an EV ticked up slightly in 2024, with 7 percent saying they have one. Last year, 4 percent said they owned an EV.

The Biden administration finalized a rule last month that could result in 56 percent of new vehicles on the market being electric by 2032. While the rule does not mandate a shift to electric vehicles, it sets pollution standards for an automaker’s vehicle fleet that would be challenging to meet without increasing the share of electric or other low-carbon vehicles.

Does that "percent" seem high? The new poll says 7 percent of Americans say they own an EV. You don't need a poll to determine that number; one can google vehicle registrations.

  • number of EVs registered in the US: 2,400,000.
  • number of automobiles registered in the US: 278,870, 463.

Statistics from 2022.

  • 2,400,000 / 278,870,463 = 0.008606 - 0.86%.

In our relatively affluent neighborhood I count about seven Teslas on the road for every 100 cars. Very, very informal observation. Btu that's in a very affluent neighborhood. I doubt the numbers don't come that close in "more typical north Texas" neighborhoods.

In California:

  • 903,620 / 31,400,000 = 0.0288 = 2.9%. 
Posted by at

Olive Oil -- Inflation Due To Climate Change; Excess Olive Oil Drives Prices Down -- April 9, 2024

Locator: 46962INFLATION.

This is pretty funny but very, very typical.

Late last year we were told over and over how inflation was driving the price of oil higher and higher.

Now, today, .... well, take a look:

Link here. 

I wonder if folks will talk about the "deflation" in the price of olive oil. Probably not. Won't fit their narrative.

Cooking oil, the bar: 8 cents / ounce:

*********************************
FDIC Rules Change For Trusts

Link here.

$250,000 per depositor per bank.

Exception: trust -- $1.5 million per trust per bank (if this concerns you, go to the source, this needs to be fact-checked at the source):

  • five beneficiaries of a $1.5 million trust
  • $250,000 per beneficiary per bank

*****************************
Bat Cave

Holy mackerel.

If you don't have a man-cave or a she-shed, I suppose, you are really missing out.

From a male's perspective, one absolutely needs a man's cave. I don't know about women, but I assume the same. My man cave is a "Bat Cave" -- I have the sign -- and visitors are by invite only except for Sophia -- open invitation. 

It's incredible.

Catching up on my reading when in the background -- what popped up on the Amazon Firestick? Uninterrupted -- commercial free -- episodes of WKRP In Cincinnati. I've tried for years to find the series and now I've found it.Wow. Jan Smithers (Bailey Quarters)  and Lonnie Anderson. Good Morning, 1987; WKRP, premiered 978. Check out season 2, episode 14. 

I don't know if WKRP was the best sitcom ever but if not, it's in the top two. LOL. I find myself laughing out loud. A "Mary Tyler Moore" production.

Meanwhile, I'm reading the new "biography" of Lord Byron.

George: Maker's Mark.

Me? Islay Scotch whisky single malt Scarbarus. 

I see, "breaking news," the parents of their "shooter son" get 10 to 15 years. 

Intel is marketing a 5 nm chip. Meanwhile, Apple already has a 3 nm chip in their new computers and are working on a 1.4 and a 1.3 nm chip with TSM.

Intel in the news, up 0.02%, up $0.007 -- okay. That moved the needle. LOL.

I don't "own" Intel, never will. But SCCO -- I have been accumulating SCCO for years -- today, SCCO is up 3.2% on a down day for the market. Whoo-hoo.

I get a kick out of what folks on CNBC mention. LOL.


And pays almost 3% -- and well beyond 3% for early investors. LOL.

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.

Reminder: I am inappropriately exuberant about the US economy and the US market, I am also inappropriately exuberant about all things Apple.

Posted by at
Subscribe to: Posts (Atom)