Alternative Utilities

Brooklyn Cop at 844th Precinct accuses innocent Sankey of being “weird-looking” “They” got caught speeding yesterday: fast unwind of long natgas / short refining trade Terrific Happy Hour with Jay Saunders and a couple of other hitters last night; introducing Scope 4 Jennison portfolio manager (PM) Jay Saunders is very popular in the market, you can tell that by the players that dialled in to participate in his call yesterday. He co-runs the Jennison Natural […]

Observations on the “Inflation Reduction Act”: We read all 730 pages, with 198 being on healthcare, and conclude that, rather than calculate an “Excel told me” analysis, but rather, because of the surprise announcement of the Bill, the stock market provides an early indicator of the Bill’s likely impact: we show you key stock price performance since the Bill was shock-announced by Senators Manchin & Schumer on June 27th: We temper this market reaction. We […]

We are looking for a big fat gasoline demand bounceback number this week in the DOE data, seeing as this morning my Deli guy told me the DOE gasoline numbers are understated. Thanking him, I noted that DINO management (HollyFrontier) confirmed on their results call yesterday that gasoline demand is at worst around 5% below 2019 (not 2020, as appears in the DOE) levels, and in some of their markets – and they have a […]

I asked a major activist investor if I should zip over to Denver this week for the Enercom conference, (starts tomorrow). It’s a staple of the August energy conference diet, which is not a rich diet. Enercom, you pay to attend and a plethora of smaller oil & gas exploration and production companies make presentations with meet & greet. I’ve been once and a client told me as I headed there, the first time he […]

Presentation today, and commentary below: Thursday evening annoucement: major sellside meeting by ExxonMobil: “updates to their company plan” on Wednesday December 1st. Sellside invited. Virtual. Big deal for ExxonMobil. We had pondered how ExxonMobil would manage their annual capex announcement, due in December, vs their traditional strategy update due next March. We pondered if plans would be ready in time for a December update, given the scale of board and management change that has occurred […]

Mega-theme, ESG backlash: progressive Dem agenda whacked by Virginia governor Republican backlash Mega-theme, short wind, long coal: second 2021 profit warning from Vestas Mega-theme, global energy crisis: European gas prices bouncing on Russia natgas supply outages Mega-theme, Renaissance of US E&P: Devon with great results, COP is about as good, Pioneer after market tonight ESG backlash: the general disarray in the current US administration has been exacerbated by the major swing of Virginia voters to […]

Well, your (temporarily) London-based correspondent on the front line of the global energy crisis can report… it’s windy in the UK! Hosting meetings with Embark autonomous trucks tomorrow, RSVP, very interesting, featuring 25-year-old CEO Alex Rodrigues and CFO Richard Hawwa. Two impressive young executives. Join my group meeting if you are shy. Please click this link to submit interest     You in London? I am marketing notably will be in The City next Wednesday 6th […]

Jolly Sunday to you, Global energy crisis: Having written at length about this eight days ago in the note “Germany & UK vs the USA”, all week I have been reading about the global energy crisis led by the UK and Germany. Everyone makes the same points, last year cold global winter leading to low natgas storage, lack of wind in Europe, nuclear shutdowns, Asia squeeze, Russia squeeze etc. The one I talked about in […]

SAVE the DATE: Sankey/Jan Stuart summit, Vienna, December 2021 OPEC meeting. Likely December 2nd.  World Petroleum Conference in Houston December 5th – 9th forces their hand to an early in-person Vienna meeting early December. I plan on attending both, and Jan and I will host a “thought leadership” drinks party in Vienna on the eve of the meeting. Join please! Save the date. 2nd Spoke to a big player who trades Utilities, and he said […]

It was the optimum Happy Hour last night, with two expert witnesses, Kathleen Kelley and Jan Stuart, both highly tenured oil market experts, and a mix of long-only and long-short investors, mutual fund and hedge fund. We were also spread across the globe from Amsterdam to Mexico, with Kathleen struggling in a New York flash flood situation that resulted in a viral video of a lady wading into waist deep water to the NYC Subway. […]

We’ve talked about QuantumScape, we have raved about Li-Cycle, a client asked us about Stem Inc, which is coming public through Star Peak Energy Transition SPAC (STPK), to trade as $STEM, assuming deal completion. I have requested to speak with the company, the following are my first impressions. With hearings in Washington on SPACs, we think this is a great opportunity to buy some beaten down names. We don’t think there is any major problem […]

Enjoyed making the slides today, take a look. Slide 1: John Hopkins Professor expects US herd immunity by April. Remember how quickly SARS disappeared? Fingers crossed. This past week we have highlighted QuantumScape $QS the solid state battery play, and did so again Thursday, and we “found the short” as they say. The heated email from a client arrived in response with 10 minutes. “It’s a joke.” He was referring to valuation. But in this […]

Yep! It’s Friday! I called the RobinHood helpline about Gamestop and they said “Please Hold”. Got it. I want to put my life savings into the stock – its called Gamespot Total Landscaping right? The Biden team is monitoring the Gamestop situation and will let the American people know when it is time to buy a Legend of Zelda chess set in a dented box. AMC is issuing a ton of stock, but Gamestop is […]