By Paul Sankey
Published on April 18, 2024 at 8:48 AM
<Brooklyn rap radio/Jamaica DJ horn> BBBRRRRAAAAP!: Tonight on Happy Hour, Tommy Marchetti. 4PM ET open mike. Plenty of chat as energy earnings started last night with Kinder and continue tomorrow with Schlumberger. Fresh from his four years at Cornerstone Macro then Piper Sandler as Global Energy Strategist, oil on Wall Street legend Tom Marchetti will be giving his stream of consciousness tonight. Starting as an accountant with KPMG, Marchetti joined J Aron/Goldman Sachs in 1994, …
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By Paul Sankey
Published on April 17, 2024 at 10:41 AM
Today’s note is just bits and bobs: In the oil space, we are at 75% of peak media attention. Any higher, is generally a sell signal, but we are not quite there yet. It takes $100/bbl+ or $4.50/gallon nationwide pump price for me to get the call from the Mitch Albom Show which is peak USA Today territory. Mitch has sold 40m books (The Five People You Meet in Heaven etc) and runs a conservative …
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By Paul Sankey
Published on January 14, 2024 at 6:00 PM
Greetings, We sent you a California write-down theme note yesterday “Exxon, Chevron, and Brangelina”, concluding that you want to own oil and gas companies exposed to California because of the State’s self-imposed tightening of its own energy balances. Essentially California is becoming steadily more import dependent, particularly for natural gas, which dominates its power supply. Key names are, CRC, Tourmaline, Matador, midstream Kinder and Plains All America, and of course Chevron and ExxonMobil, the last …
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