Author Archive: Stephen Green

HOW THE MIGHTY HAVE FALLEN:

Make you wonder if Ritter was coopted long before he got caught.

INFRASTRUCTURE: Natural gas prices in Texas plunge deep into negative territory and producers are burning it off, while the rest of the world braces for shortages.

Over the past week, spot prices at the Waha gas trading hub in the Permian Basin fell as low as -$9.75 per million British thermal units, with expectations that it could hit -$10 when pipeline capacity tightens as operators perform seasonal maintenance later this year, traders told Bloomberg.

That’s because drilling in the prolific Permian Basin yields both oil and natural gas. But while an extensive network of pipelines exists to bring crude to market, there’s less infrastructure to transport natural gas, creating bottlenecks and localized surpluses.

As a result, negative gas prices aren’t that unusual in West Texas, and have been that way more often than not so far this year. But last week saw the lowest weekly average Waha spot price on record.

Since negative prices mean producers have to pay to someone to take the supply off their hands, excess natural gas is often burned off, and so-called flaring events this season are at five-year highs.

What a shame they can’t move the stuff and sell it.

DIVERSITY IS THE UK’S STRENGTH:

Yes, but does the UK have Learing Centers?

I MISS RUSH:

BECAUSE OF COURSE SHE DID: NYC first lady Rama Duwaji created artwork for DSA’s anti-Israel campaign.

First lady Rama Duwaji, who Mamdani has bizarrely claimed isn’t a public figure, created artwork for the New York City chapter of the Democratic Socialists of America as the lefty group unleashed a public campaign called “PalestineOnTheBallot.com.”

The effort promoted candidates running in Democratic Party primaries who snubbed funding from the American Israel Public Affairs Committee and vowed to support the Not on Our Dime Act — a bill that would punish or dissolve registered charities found to support “Israeli settler violence.”

The bill was sponsored by her husband, who was then a state Assemblyman.

Lovely couple.

Also: New Yorkers fume as Mamdani breaks Ramadan fast with Rikers inmates— but can’t be bothered to visit injured cops.

Just think of it as constituent service.

And some additional perspective:

WIKIPEDIA ISN’T DEAD, IT’S THE LIVING DEAD:

KRUISER’S MORNING BRIEFING: Chuck Schumer Is Taking a Rough Ride on the Struggle Bus. “Although Chuck Schumer is a classic Trump Derangement Syndrome-sufferer, getting him out of leadership or the Senate wouldn’t be much of a help for the Republicans. Next in line in the Senate is 81-year-old Dick Durbin from Illinois. And, because there is always someone worse waiting in the wings over there in Dem Land, many think that AOC will be the one to depose and replace Schumer.”

STOP PUNISHING AMERICAN CONSUMERS FOR CHINA AND INDIA’S BAD ACTORS:

DECLINE IS A CHOICE: The new normal: Conditioning Colorado to power outages.

I’ve lived in Colorado since 1970. And you know what Colorado had back in 1970? High winds blowing down the Front Range.

I moved to Boulder in 1984 and have been there ever since. And you know what Boulder has had all that time? A freakin’ lot of high winds.

I remember as a college kid walking around the CU campus after windstorms, stepping around uprooted trees and massive broken branches that made the sidewalks impassable.

I’ve seen rooftop shingles go flying off Boulder buildings, signs ripped down, and semi-trucks overturned.

All of which is to say that for the last 55 years I have personally witnessed a crap-ton of high winds in our mountain state.

But only in the last few months have I witnessed our power utilities preemptively turning off electricity during high winds to “prevent fires.”

Colorado’s energy elite understands the math.

They know sizable power disruptions are in our future — because they ordered them. So, they’d better start getting YOU used to it.

Nah, I’ll be gone before then.

IT’S SELF-LICKING ICE CREAM CONES ALL THE WAY DOWN:

FOR A LIGHTBRINGER, HE WAS NEVER ALL THAT POPULAR ONCE PEOPLE BELATEDLY GOT TO KNOW HIM:

HEH: Murphy deflects question on Schumer’s future as Senate leader.

When asked if he wanted to replace Schumer, Murphy said, “Well, I think we are united right now as a caucus. There’s always a lot of focus on Senator Schumer and Leader Jeffries,” during an appearance on NBC’s “Meet the Press.”

“Those are very hard jobs, especially at a historic moment like this,” he added.

Host Kristen Welker pressed him on his answer, pointing out that he did not say “yes” to supporting Schumer as the reigning party leader.

“Well, no, we are united as a caucus right now. Let me just be clear about that. We are united in ending this war. We are united in reining in the lawlessness of ICE. And we’re going to be united in winning the election this November,” Murphy told Welker.

“So right now we are together as a caucus,” he added.

Murphy later added that Schumer has a “tough job.”

Murphy wouldn’t have to keep saying how difficult the job is if Schumer were doing it well.

HMM:

EVERYONE’S A MILLIONAIRE:

IF THIS CHECKS OUT, IT SEEMS LIKE A PRETTY BIG DEAL…:

INCENTIVES, HOW DO THEY WORK?

21ST CENTURY HEADLINES: Uber taps Rivian to build robotaxis in deal worth up to $1.25B.

Uber is kicking off the partnership with an initial $300 million investment in Rivian and is “expected to purchase 10,000 fully autonomous R2 robotaxis” ahead of a planned rollout in San Francisco and Miami in 2028.

Uber will have the option to buy up to 40,000 more autonomous R2 SUVs from Rivian starting in 2030. The two companies said they plan to launch the robotaxis in “25 cities in the U.S., Canada, and Europe by the end of 2031.” The fleet will be exclusively available on Uber’s network, according to the companies.

While the agreement is potentially lucrative for Rivian, it’s brimming with risk and challenges.

Rivian hasn’t started producing the R2 SUV yet; it has said manufacturing is expected to begin by June. Nor has it tested and deployed a self-driving system designed for robotaxis. To raise the hurdle even higher, the robotaxi is supposed to be built in Rivian’s Georgia factory, which is still under construction.

I guess there are still a few kinks to iron out.

HMM: The bond market is flashing a signal not seen since before the 2008 crisis. “Thursday’s bond-market selloff caused the Treasury yield curve to exhibit what traders describe as a “bear-flattening” pattern. This actually began back in early February. Typically, the pattern emerges when bond traders are bracing for a difficult economic environment ahead.”

INCENTIVES, HOW DO THEY WORK?

IT’S FLORIDA MAN FRIDAY [VIP]: Wait, He Tried to Steal WHAT With WHAT? “It’s time for your much-needed break from the serious news, and this week, we’ll learn the wrong vehicle for making a quick septic tank getaway, what police won’t accept in place of RealID, and how not to make a surprise booty call in South Dakota.”