Oil Heads for Third Weekly Drop Before U.S. Jobs Data at Bloomberg.
U.S. crude oil output reaches a 15-year high in September; Dept. of Energy predicts significant increases to continue (Mark Perry).
“The rapidly growing crude-oil flow out of North Dakota has broken out of its transportation bottleneck thanks to an expanding railway network, lifting prices for the crude and profits for those who pump it.” WSJ
California Gas Stations Shut as Oil Refiners Ration Supplies at Bloomberg.
“The second of two periods of seasonal strength in the energy sector has ended.” Globe and Mail
Charts: No Long Term Change of Character for Crude Yet by Greg Harmon.
On the one hand, widely known is individual OPEC nations unilaterally raising reported reserves as each jockeyed for quota’s in the 1980’s. On the other hand, it is hard to take a report or analyst seriously who clearly does not understand the difference between depletion and decline. Mining Weekly
Money and resources weaved together by Gregor.
Exxon or Gold?? Depend on when in my opinion. Value Plays
Six Charts: Money, Oil and Credit by Charles Hugh Smith.
“Natural gas futures advanced for the eighth time in nine days in the U.S. as a forecast for a blast of cold air signaled stronger demand for heating fuel.” Bloomberg “A new winter outlook shows warmer-than-normal temperatures in much of the Midwest and northern Plains through November. Then, things really warm up in December…” Agriculture
Caterpillar goes ‘all-in’ on natural gas-fueled equipment and engines to take advantage of abundant, cheap shale gas (Mark Perry)
“The figure is roughly the midpoint of that range. For wells with an EUR rate of 650,000 barrels of oil, Kodiak estimates a 25 percent IRR when oil prices are $75 per barrel. For wells with an EUR rate of 850,000 barrels of oil, Kodiak estimates a 69 percent IRR when oil prices are $95 per barrel.”
IRR or internal rate of return
For Mr Like-Vern, in case he reads this webolog…