Brighton Capital

The extra-crazy winter natural gas market.

Waha hub is in the Permian Basin (Midland-Odessa and the setting of "Landman"). Too much gas, not enough pipes but the focus is on oil so they keep drilling regardless of gas prices. Two weeks ago it had a negative price. Last wk $9/MMBtu, now $-1/MMBtu.

That's $12M in "Minnesota dollars" (population difference). Huge theft for one person; makes the Somalis look like pikers.

They should turn it all into ethanol. Humans could drink a little, cars could drink a lot, and feed the peels to cows. Everyone wins, same as with US 🌽🌽🌽!

(Just kidding. We've been growing more corn than the market needs)

I Test Drove a Chinese EV. Now I Don’t Want to Buy American Cars Anymore. Amazing battery range, customizable interiors and sleek software—our columnist fell in love with a Xiaomi SU7 Max after driving it for a few weeks.

Detroit had over two decades to use their vast resources and supply chains to get ahead on EVs and become the world's supplier. But they chose to double down on massive SUVs and trucks, catering to an increasingly niche market.

Big 3 auto deserve whatever's coming for them.

Ouch! Six to ten inches, zero to little since then, and they've had five days plus a weekend and still not ready? That sounds like awful performance even for a for a non-snowbelt area.

Sounds like the plan is natural evaporation and melting...

Yeah, in the last week if someone was in the expiring Feb or the new front month, they could lose big on both contracts, both sides. Brings to mind “A strange game. The only winning move is not to play.”

Nat Gas: some of these !@#$% "traders" need to learn how to read a weather forecast, including not running things up for flimsy reasons on Friday only to reverse it all and more on Sunday. 👿

But my inner Dude abides... just gotta' get used to almost every mkt being part of the global casino now. 🧘‍♂️

Where is this and how many cxld school days?

I hope you were wearing a raincoat under those @#$_&!? poop machines.

Like Jonathan Ross, these guys had experience (they joined 2014 and 2018) but were still violent, undisciplined thugs.

Hollywood! If these numbers are in ballpark and half goes to cinema, half goes to distributor and film maker (in this case I think Amazon is both) then Amazon has brought in $3.5M vs. a $75M bribe. #NGMI (oh, they will, but in other ways).

Story about ICE/CBP hiring spree and reminded that overtime and per-diems (latter is tax free I think) really adds up for the thugs.

$92/day for meals. If they were smart (ha!) they'd stay away from restaurant dining and just use delivery, take-out, and grocery stores (in normal clothes). Ka-ching!

Nat Gas use & wx trivia: Nov-Mar heating season is 151 days. Using a chart date of Feb 7* we're 66% through. Hard to change things a lot btwn now and Mar 31. #FamousLastWords

*Today is Feb 1 but temp f'casts 5-6 days out are pretty good. GWHDD = gas and population weighted heating degree days.

Of anyone writes Chips Ahoy, I'm deleting this app.

Also, the E-coli cookies are good.

I like the 63 years of preferred dividend coverage calculation.

H/T to @anadarkocapital.bsky.social for pointing me to this unique corporate homepage. www.strategy.com

And then there is South Dakota and Tiger Meat - raw ground beef with onions, saltine crackers and presumably a few beers. I try to keep an open mind but that does not sound appealing.

(Edited because I first included chislic, but that's cooked)

P.S. Since I didn't grow up here and don't really know the small rural towns, I'll add that the sandwich isn't unfamiliar to an Ohioan but there it was an "open face sandwich" w/ beef or turkey and gravy.

To me, the commercial, tavern (sloppy joe) and loose meat are all W. Midwest terms.

Speaking of IA-NE-MN things, this was in the paper the other day and reminded me of one of my favorite topics on Twtr - learning about names and origins for food items are arguing about who is right.

I it was an IA or NE thing, but Wikipedia says rural MN.

en.wikipedia.org/wiki/Hot_bee...

Yep... The plunges and recovery earlier in the week, expanded ranges, through the roof historical and option volatility, parabolic shape, etc... Pick a reason; it was primed to fall, at least some.

Gold and Silver Plunge in Worst Day Since 1980 Wall Street sees Trump’s Fed nominee as a hawk on inflation and the dollar.

Three people in the business:

“The short answer is I have no idea. Nobody knows. I’ve never seen anything quite like this market.”

“Metals—honestly, I have no idea,”

“There is no liquidity. It went up. On what?”

www.wsj.com/finance/comm...

Good find, but I'd like to speak with her English teacher for the "we seen"

Cold spell isn't quite over - by Feb 3 temps/heating demand should return to normal - but here's what spot natural gas prices were during the meat of it.

This will blow up some utility bills so be prepared. (Divide by 10 to get a gas cost per therm, which is the typical gas utility billing unit.)

If you're in purple dinosaur country, compared to a week ago, today and esp. tomorrow will feel like the first day of spring. 30F air temp in Mpls tmrw. Whoo-hoo!

Some coin shops/bullion dealers have stopped buying b/c they can't move it and get paid quickly, or they are buying but it's at a huge discount to spot to account for flat price risk.

Silver futures are way too large but seems like one share of SLV sold per oz of silver bought is a good hedge.

Except two thirds of Kandiyohi County voted for this.

But that's all done hand-in-hand with the State Dept, so Catholic Charities and the half dozen other national refugee resettlement agencies all had a part in bringing in Hmong, Somali, Russians, Liberians and whatever other ~large groups are recent arrivals. Rufo is full of baloney.

Yes, and a lot of small agri cooperatives that grew up to be CHS/Cenex and Land O' Lakes.

Related to Scandinavians & Germans, I always chuckle at the line from "Gran Torino" where Clint Eastwood tells the Hmong girl something to the effect of "darn Lutherans brought you here..."

Or that the largest ethnic heritage group in MN is German, and has been for a long time; or the history of agricultural prairie populism and so on.

Everything I know about lab meat I learned from @deenashanker.bsky.social; she's been very skeptical about consumer desire and the economics (even the far distant economics) since the beginning. ;-)

Wild week in natural gas, silver, other metals and even crude oil prices are higher and more volatile than usual. FWIW, a snip from Reuters... that was probably a very rewarding arbitrage.