By Paul Sankey
Published on June 15, 2025 at 4:27 PM
Happy Father’s Day! Having lunch with the three kids this afternoon at 5pm. Specific “Mother’s” and “Father’s Day” as such are American inventions, in West Virginia 1907 for Mother’s Day, and 1909 for Father’s Day as a complement, to be fair to Fathers. Should really be Mom’s Day and Dad’s Day. Mother’s Day in the UK has its origins in the 16th-century custom of ‘Mothering Sunday’, which fell on the fourth Sunday of Lent. So …
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By Paul Sankey
Published on August 14, 2024 at 9:49 AM
A focus note for you today, on Darling and the California Low Carbon Fuel Standard which has been an important factor in the weakness in West Coast refining margins, that is bleeding into wider refining margin weakness vs current refiner earnings estimates for Q3. We show in this note that California diesel is now 60% renewable, with attendant pressure on refining margins there, as gasoline demand has peaked, and 25% of vehicle sales are electric. …
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By Paul Sankey
Published on June 27, 2024 at 10:08 AM
A friendly banker called this morning on today’s latest oil deal, by $SM, and let’s just slightly varnish this: He asked “What the fk are they doing?” $5bn market cap SM was seen as a takeover target. Stock is down -8% here. SM ENERGY ANNOUNCES HIGHLY ACCRETIVE $2.0 BILLION UINTA BASIN ACQUISITION, 11% INCREASE TO FIXED DIVIDEND AND RELOADED $500 MILLION SHARE REPURCHASE PROGRAM I couldn’t provide a value add answer to his question, but …
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