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Title : Thursday, June 28, 2018
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Thursday, June 28, 2018

Wow, lots of stuff today. Since I have limited time at the moment, I'm just going to list the stories to which I need to return.

New IRS form: postcard size. Pretty much. Too bad it's even more difficult to complete.

Trump: four recent court victories.

Iran sanctions: Trump winning. Last hold-out -- India -- appears to be preparing for cut in oil imports from Iran. Methinks Russia and Saudi Arabia are loving this.

Iran sanctions: Iran says removing oil from market by November as called for by US is impossible. Inshallah.  

Disappointing 1Q18 GDP: final reading -- 2.0% vs 2.2% reading expected. Futures down. Maybe that fourth rate hike scheduled for later this year not such a great idea.

Maxing out on tax credits: Tesla and GM will soon max out at 200,000.

Capex on pipeline spending: Russia and the United States.

Jobs report (unemployment claims): pending.

US crude oil supply: dropping fast. From 30+ days of supply to 23 days in less than a couple of years.

US natural gas: "never" going to run out. Natural gas industry sees "century of supply" in US shale. Projected growth is staggering:

The United States currently produces about 72 billion cubic feet (bcf) of natural gas each day, a figure that is expected to grow by 7 bcf per day this year. And within 20 years, U.S. shale gas output should grow an additional 60 percent.

Meanwhile, things not looking good in Europe: Groningen gas output falling faster than planned. 

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Back to the Bakken

Active rigs:

$72.46→	6/28/2018	06/28/2017	06/28/2016	06/28/2015	06/28/2014
Active Rigs	65	58	30	75	19

RBN Energy: dynamite! Kinder Morgan and EagleClaw Midstream's proposed Permian highway gas pipeline will be a monster.

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Thus Article Thursday, June 28, 2018

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