By Paul Sankey
Published on November 14, 2024 at 8:04 AM
My standard line on the challenge as an analyst, is that you make a good call, and within three months everyone else starts saying it. Good calls can’t remain exclusive. Sure enough, today the IEA is out questioning whether China oil demand has peaked, making 2024 an epic (bearish) year in global oil market history. Yesterday I was reading an article from CGEP mooting the same call. We will come back to the subject Sunday, …
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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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By Paul Sankey
Published on December 31, 2023 at 4:45 PM
Happy New Year’s Eve, Brooklyn Heights. Three nephews are staying with us from Mexico, they left this morning at 9am… to join the line for the holding pens at Times Square. The pens are opened at 11am, so they will be in line for two hours, then to be admitted to be penned for 13 hours, for the midnight ball drop. Incidentally the ball drop was introduced over 100 years ago when fireworks were banned …
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