By Paul Sankey
Published on August 6, 2026 at 1:23 PM
I read a Tweet the other day that has been playing in my head: “What if the bubble is only just forming?” That got stuck in my head as we hit all time highs on the S&P5000 – before a Hormuz deal. No question, liquidity is sloshing, with the Treasury Secretary selling Euros to buy Yen… to keep the carry trade alive. Inflating markets. On ConocoPhillips there are other inner monologues in this note that …
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By Paul Sankey
Published on June 11, 2026 at 1:01 PM
Happy Hour today with Neil McMahon is POSTPONED until 24 June, so, just a couple of weeks. And he will have been in the Middle East in the interim, so that works. Kimmeridge (for he is founding partner) has declared Final Investment Decision (FID) on Commonwealth — a 9.5 Mtpa (~1.25 bcf/d), $13bn Louisiana LNG export project with 2030 start-up — in partnership with Abu Dhabi’s Mubadala Energy and CPP Investments (24.1% and 31% of …
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By Paul Sankey
Published on June 2, 2026 at 2:19 PM
Dear Premium Subscriber, thanks so much for your support. Part of the refining bull case here is the soaring cost of Renewable Identification Numbers (RINs) and the biofuel market tightness in general. I thought Brett Gibbs of Bloomberg Intelligence did a great job of covering the story in one hour. The replay starts around 12mins in terms of actual content. Replay here: https://analysthub.zoom.us/rec/share/NhhB3zUBjgnL5ku-yC4foMLUH2YcpNH1VFCVsHb-FN3Fhj9SGs3AlXaMPyj1drq-.GM_0DATdhkRhx8jX Below, D6 and D4 RINs, not gaining much attention in terms of …
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