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• ☕️What Else is Brewing Thursday Morning
  Trump admin freezes $18b in NYC infrastructure funding. The...
  Trump admin freezes $18b in NYC infrastructure funding. The administration announced yesterday that it had put on hold federal funds that had been awarded to major projects in New York City, including the construction of a new rail tunnel between New York and New Jersey, and the extension of the Second Avenue Subway. Office of Management and Budget Director Russell Vought said the decision was made “to ensure funding is not flowing based on unconstitutional DEI principles,” with Transportation Secretary Sean Duffy later raising questions about the contracting process for the projects. The move may also be intended to get at Democratic congressional leaders amid the government shutdown, as Chuck Schumer and Hakeem Jeffries both represent New York.
  
  President Trump’s budget director said firings of federal workers would begin in “one to two days,” and Vice President Vance also said layoffs would start soon “if the shutdown continues.”
  
  The Israeli Navy intercepted boats from a flotilla attempting to bring humanitarian aid to Gaza, detaining the activists on board, including Greta Thunberg.
  
  Amazon debuted a new grocery brand for price-sensitive shoppers, with most items selling for under $5. In other grocery news, Walmart announced plans to remove artificial dyes from its house brands.
  
  Peloton wants to get you back on the bike you haven’t pedaled since the lockdowns ended with higher membership fees and new hardware with AI-powered features.
  
  Google laid off 100 employees with design roles in its cloud computing unit as it prioritizes its investment in AI.
  
  Chunk, a 1,200-pound brown bear with a broken jaw, was crowned the winner of Fat Bear Week, after narrowly missing the crown in previous years.
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• DAILY OIL PRICE: October 1, 2025
  Crude Oil: 61.78   (-0.59)....
  
  
  • Crude Oil: 61.78   (-0.59).
  
  
  • Nymex MTD AVG: 61.7800.
  
  
  • Natural Gas: 3.476   (+0.173).
  
  
  • Gasoline: 1.8859   (-0.0870).
  
  
  • Spreads: November/December (+0.39)     December/January (+0.25).
  
  
  • Plains WTI Posting: 58.26   (-0.59).
  
  

  
  Source: Odessa American
  
  
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• Dow, S&P 500 carve out new record closing highs despite government shutdown
  All three major U.S. stock indexes closed higher on Wednesday,...

  All three major U.S. stock indexes closed higher on Wednesday, with the Dow Jones Industrial Average and S&P 500 reaching fresh all-time highs, amid expectations that the government's temporary shutdown will end up being short and having a minimal economic impact.

  
  

  The Dow rose 43.21 points, or less than 0.1%, to finish at 46,441.10, based on preliminary data.

  
  

  The S&P 500 advanced 22.74 points, or 0.3%, to end at 6,711.20.

  
  

  The Nasdaq Composite climbed 95.15 points, or 0.4%, to close at 22,755.16.

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• Permian still fertile ground as O&G consolidation rolls on
  Consolidation in the oil patch is far from over, according to Tailwater...
  Consolidation in the oil patch is far from over, according to Tailwater E&P CEO Doug Prieto, who argues that smaller and mid-sized players stand to gain as majors offload assets. He pointed to the Permian Basin's expanding inventory of promising zones as evidence that opportunities remain plentiful. Diamondback Energy CEO Kaes Van't Hof echoed that view, noting that efficiency gains, expanded drilling horizons and new markets for natural gas are keeping the region profitable despite cost pressures.
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• Buffett Nearing $10B Deal for OxyChem, But Could Buy for a Penny
  Berkshire Hathaway could pick up Occidental...

  Berkshire Hathaway could pick up Occidental Petroleum’s chemicals unit—reportedly worth $10 billion—for a single penny in exchange for canceling the equivalent debt, preferred shares, and warrants, according to analysts.

  
  

  Oxy’s initial $10 billion in debt to the Warren Buffett-led conglomerate came from financing its $55 billion acquisition of Anadarko Petroleum in 2019 for cash, stock, and debt assumption.

  
  
  

  
  

  
  

  In addition to the note on the loan, Berkshire received preferred stock that pays an 8% dividend annually, as well as warrants.

  
  

  
  

  
  

  The Financial Times reported earlier this week that Oxy is looking to sell its chemicals business OxyChem to reduce debt, which is currently about $25 billion.

  
  
  

  
  

  On Sept. 30, The Wall Street Journal reported that the buyer might be Berkshire Hathaway, citing unnamed sources familiar with the matter.

  
  
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