Sunday Shia, Islam, Yemen: Who is a Houthi?

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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California write-downs: Chevron, ExxonMobil, and Brangelina

By Paul Sankey Published on January 13, 2024 at 11:41 AM

This year started with massive writedowns from both Chevron and ExxonMobil in California. You don’t need to read the all-time classic of industry literature, “Oil!”, by Upton Sinclair (nor watch the classic film “There Will Be Blood” which is based on the book) to know there is a long and storied history of oil in California. In this note we write brief histories that led to the write-downs. Spoiler alert, we start with the conclusions,…

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