By Paul Sankey
Published on February 1, 2026 at 7:29 PM
Brrr, It’s absolutely freezing here in New York city, the ruddy East River has only frozen (see above) and the streets are a bleached hellscape of black-iced pavements walled by dirty ice-snow piles topped with backed up garbage and passing dogs. Everything is frozen solid, the wind outside is howling, here in Brooklyn Heights above New York Harbor. Oof. Source: Weather.com, NOAA Back to natgas in a second, but as a historian, I would be …
Read More
By Paul Sankey
Published on October 28, 2025 at 2:23 PM
Torsten Slok, Chief Economist Apollo, published this chart Monday, we are all familiar with the theme. Source: Torsten Slok, Apollo Considering the scale “Capex Share of Operating Cashflow %” made me wonder, and caused me to recreate the chart but add the Big Oils. Given Torsten lists five Hyperscalers, I simply used five historic mega-oils, ExxonMobil, Chevron, Shell, TOTAL, and BP. Result: Source: Bloomberg, Sankey Research That certainly changes the perspective, and obviously becomes a …
Read More
By Paul Sankey
Published on September 22, 2024 at 3:07 PM
Good day! Today we go thematic, on the energy landscape in Washington DC, as the week ahead is relatively quiet for cyclical events. Bits and bobs on companies reporting, and economic news, but nothing big, in our view. Except watch out this week on Manhattan travel, for the annual end-September UN General Assembly and gridlock in Midtown. CNN: Slovenia’s UN envoy Samuel Žbogar, who is also the current president of the UN Security Council, described …
Read More
