By Paul Sankey
Published on August 3, 2025 at 5:15 PM
Well, the negative revisions to jobs numbers on Friday drew a rapid response from Donald Trump, he fired the head of the Bureau of Labor Statistics. Not our first “Uh Oh” and it won’t be the last, by any means. But statistics controversy fits well with the theme of our note today: power megatheme. Power is power. Below, the negative revisions in Jobs released Friday that radically altered the “apparent” (I am in data mode …
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By Paul Sankey
Published on July 13, 2025 at 6:44 PM
Ola, You might remember my line over the past few years, my line that the biggest danger I face when I travel to Europe, with its land wars, economic and migrant crises etc, is getting hit by a flying champagne cork. Sure enough today’s incredible tennis final at Wimbledon was interrupted by a flying champagne cork landing on court. Congratulations to both players, incredible. A certain Permian Oil CEO and I shared messages of incredulity …
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By Paul Sankey
Published on June 8, 2025 at 12:11 PM
“There is a Lot of Land in West Texas” One of the oldest oil companies in currently quoted US oil equities, Texas Pacfiic Land, originating in 1871, is a barely known outsider that emerged seemingly from nowhere to S&P500 inclusion in 2024: TPL now has a larger market cap (no debt) than Devon, Coterra, Halliburton, Antero or Permian Resources. In this note we deconstruct TPL’s valuation, and establish the massive implied AI Data Center land …
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