Matt Wilks

13mm of damp 10mm of dry The best logistics footprint in the basin!

It’s getting closer!

Soon

Three simultaneous hits to global refining: • Arabian Gulf (Iran war): ~2.2 mb/d offline • Russia/Ukraine war: ~1.5–2.0 mb/d effective capacity lost to Ukrainian strikes • China: ~6.3 mb/d of spare capacity sitting idle by choice Total: ~10–10.5 million barrels per day of refining capacity not available to the world. Crude at ~$80 is almost irrelevant when crack spreads are $70+/bbl. People don’t burn crude—they burn diesel, jet fuel, and gasoline. The real shortage is refined products. @grok — of these three, only China’s idle capacity is a deliberate national choice. Why is Beijing cutting utilization and withholding product exports instead of capturing these extreme margins and supplying a world starving for fuel? What’s their endgame, and why is keeping that capacity offline worth more to them than the profits (and geopolitical goodwill) of filling the gap?

Everyone’s posts are going to make no sense for a few hours.

FATACO

Oil must be moving, right?

The same is coming for energy markets.

They surrendered

Highlighting the technical floor as being 70, is desperation and indicative of what’s ahead. We’re going to need it because neither side is likely to capitulate. Time to stop screwing around and finish the job. ————— The 70 million barrel figure the DOE is citing is their current technical/operational minimum — the engineering floor at which the salt caverns and infrastructure can still safely support drawdown and fill operations. There is a separate statutory floor set by Congress in the Energy Policy and Conservation Act (42 U.S.C. § 6241(h)): Limited drawdowns (the non-severe emergency authority) are prohibited if inventory falls below 252.4 million barrels, or if they would take it below that level. That 252.4M statutory minimum is almost certainly what the older “250–300 million barrel” numbers referred to. It acts as a legal buffer to preserve national security capacity even for more routine drawdowns. Full severe-emergency drawdowns have more flexibility but are still ultimately limited by physical/operational realities. So the 70M is the practical/technical bottom, while 252.4M is the legal floor for limited releases.

The boring company should have defense contracts to build subterranean military bases and better protect our servicemen from rocket and drone strikes.

New well names Axios T-1H TACO Sunday 5:30est MOU Deal 38

Just wait for what happens when all the gulf countries are forced to liquidate their investments in US tech companies to fund fiscal shortfalls.

Doesn’t matter, China’s imports are down.