Update 2 of Drill Baby Drill

 

Following up on the previous post, Baker Hughes publishes updates on on North American rotary oil and gas rigs weekly and International counts are updated once a month. As of this report, the the U.S. has 590 rigs, down 3 from the previous report.  Canadian and International rig counts are also down. Not surprisingly, gasoline prices have gone up.

Gas Buddy publishes updated gasoline prices by state. Checking today's published prices, the median cost by state for a gallon of gasoline is $3.09, up 12 cents (4 percent) form $2.97 in the previous update. For the median price, I'm using the Gas Buddy's published price of a gallon of gasoline in the 25th ranking state in their list of prices by state, ranked from lowest to  highest. 

So far, President Trump's policies have not added to the drill rig count and gasoline prices have gone up, not down. (Above figure is from Baker Hughes).

Update on Drill Baby Drill

 

Baker Hughes publishes updates on on North American rotary oil and gas rigs weekly and International counts are updated once a month. This past week, the U.S added one rig while in Canada, 19 rigs were apparently shut down. Is the reduction in Canadian drilling due to the economic conflict over tariffs the Trump administration has chosen to take up against a neighbor? 

Gas Buddy publishes updated gasoline prices by state. Checking today's published prices, the median cost for a gallon is $2.97. 

Are oil companies anticipating an economic slowdown? Is "Drill Baby Drill" off and running or off the table, for now?

Jan 6 Rioter Describes Booze Soaked Radicalization

 New Hampshire Public Radio has this fascinating interview with Jason Riddle, who served 90 days in jail following the January 6, 2021 attack on the Capitol. Mr. Riddle, who has rejected a pardon from Trump, describes the personal circumstances that contributed to his MAGA radicalization: 

"I'm a recovering alcoholic. At the time, I was not recovering. I would combine alcohol with my politics and I'd put it online too. I spent a lot of time on social media in the comments section arguing with strangers about nothing. And it just became more or less my identity. The less I had a life, the louder I was about being a Trump supporter. And instead of trying to figure out what was causing these problems, looking at myself, I blamed other people and politics. That's easy to do. And I fit right into the MAGA circle"

The interview offers a glimpse of the riot from a rioter's perspective and how he was treated as something of a celebrity in jail - by other inmates and by staff. Courage, common sense, and sober reflection seem to have turned him away from the MAGA movement.