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 August 8, 2024 at 9:27 AM
Looking forward to today Happy Hour 4pm Eastern Time (ET) today talking to former XOM engineer and Citadel Portfolio manager, partner Greg Bordelon on open mic – join and we can get some views – group therapy – from major investors. Register here: https://sankeyresearch.com/conference/sankey-strategy-session-paul-sankey-greg-bordelon-interest-form-5/ By Zoom, after the last major event in track & field today . Track and Field Gold Medals today ET: Source: Google ~ Bloomberg 8/8/24 JPMorgan Says Three Quarters of Global …
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By Paul Sankey
Published on July 25, 2024 at 2:14 PM
We just took the Eurostar London to Paris, which City of Lights is empty. Above, the Quai D’Orsay, Notre Dame approaching renovation completion (later this year, fire was 2019). The 2024 Olympics are starting, and the streets are closed. No taxis, metro only to get around or foot. Paris is empty, the notoriously grumpy locals ain’t got time for all this. The local barman is berating the quiet. TGV (Train Grand Vitesse, fast French long …
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