Follow the smart money here
Bill Gates wrote a $100 million check.
Google signed a 15-year contract.
The Pentagon made it their top energy priority.
An energy source 140 times larger than global electricity demand. It runs around the clock. No fuel costs. No foreign supply chain. Zero emissions.
The problem was always access - it sits three miles underground, locked behind solid rock.
Last year a drilling crew solved that problem in 16 days. The government predicted 64.
Now Washington is handing this energy source an edge on August 18th that no competitor gets. Tax credits preserved while solar and wind lost theirs.
One company controls the technology. Sixty years of building. And the smartest money on Earth just showed up at their door.
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Explosions hit Qeshm Island at the mouth of Hormuz. Iran said its forces engaged hostile targets. Hormozgan’s deputy governor said no incident was reported. Reuters
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WTI rose 1 percent to $78.05 overnight. It gained 3.3 percent Thursday. It was $74.93 Thursday morning. BBG
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The Dow fell 0.9 percent and snapped a five-session record run. The S&P lost 0.2 percent and the Nasdaq 0.1 percent. Treasury yields rose with oil. CNBC
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The July jobs report lands at 8:30 this morning. Economists expect about 85,000 after 57,000 in June. Unemployment is forecast to hold at 4.2 percent. Fox
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The 10-year yield rose 6 basis points to 4.67 percent Thursday. Cheaper oil had been pulling it down all week. AP
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Gold sits near $4,262 an ounce. It is still up sharply on the week. Gold and oil climbed together Thursday. Reuters
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Blanche’s floor vote is still short of certain. Murkowski and Cassidy will not say how they vote. Collins is already a no. He can lose one. CNN
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Trump addresses a joint session of Congress Tuesday. He said the speech covers free and fair elections. Fox
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Iran and Oman reached an understanding to reopen Hormuz for 60 days. Ships would enter near Iran and exit near Oman. Iran’s security council still has to approve it. AJ
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Equity futures pointed lower in Japan, Hong Kong and Australia. Korea edged higher. Oil did that. BBG
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