By Paul Sankey
Published on July 22, 2021 at 10:06 AM
Thesis: there is little differentiation in the market between the merits of individual big oils; factor investing (ie thematic baskets) has rewarded the most levered oil companies, given the surge in oil prices from historic lows. There is a major opportunity with an immediate catalyst of Q2 2021 results for differentiation among oils in terms of the strength of their earnings at $70/bbl Brent (with weak refining). There are two types of leverage, operational and […]
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By Paul Sankey
Published on July 4, 2021 at 12:30 PM
Happy July 4th Here’s to democracy and freedom. Usually, I make some dumb joke about being British and not celebrating any Independence on July 4th, but this weekend marks the first anniversary of Sankey Research. My first note, quoting Public Enemy as a statement on freedom of speech, was sent out the Friday of July 4th weekend 2020, and for long as it may continue, the anniversary of Sankey Research will be Independence Day weekend. […]
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By Paul Sankey
Published on April 13, 2021 at 9:05 AM
It seems pretty blatantly obvious that Putin is going to invade east Ukraine and join Russian rebel-held territory (see map in Sunday Sankey). He did it with Crimea. Not really a lot you can do, shall we ask Ukraine expert Hunter Biden for his take? There will be a domino effect, because the next question becomes what do you do if China invades Taiwan, given troop build-ups are as big in naval terms in the […]
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