Quote of the day: By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens. – John Maynard Keynes

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Paul Sankey

Sunday New York Power vs Brooklyn Resistance

Source: ChatGPT Well, I thought I was bullish oil here, but thanks ChatGPT. The above summary is unadjusted direct output, and further to client and sales requests/suggestion. It will be a weekly feature from here. ~ After we got so much in interest in our Sunday Virginia Power note, (Loudon County, Data Center Capital of the World, richest county in the world’s richest country, USA), your analyst moved on to look at New York power,…

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Paul Sankey

Thematic: XOM Guyana Chevron Permian

From left field, ExxonMobil threw a wrench in the Chevron deal for Hess, a deal which we love from Chevron’s point of view. At the time, we were working on a look at Chevron in the Permian, and this is that note. First, the anaconda in the room: Source: Sankey Research Word on the street this week has been that ExxonMobil wants to buy all of Hess, but is currently prevented from making a move…

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Paul Sankey

Ten Companies, Ten Charts, Ten Recommendations

Market backdrop: our argument that low US refining utilisation this month (Feb 2024) would tend to pressure crude prices, tighten product inventories, and raise product prices, is not working at all, leading us to demand concerns. Refiners have been weak accordingly, even if background GDP data and better than expected China numbers suggest a good year for refiners. It’s not all bad news: crude oil prices are acting well. Generally with seasonality, tough January weather…

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