By Paul Sankey
Published on January 19, 2021 at 9:00 AM
A scoop by the Canadian Broadcasting Corporation (CBC) over the long weekend regarding the Biden Administration’s plan to rescind the Keystone XL pipeline permit got everyone excited… except me, who groaned. The issue is symptomatic of the worst of US energy policy. New pipelines are environmentally friendly. They serve to replace old pipelines and/or train transport that is less efficient and environmentally damaging. While opposing specific pipelines has become the heroic battle of the environmentalist, […]
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By Paul Sankey
Published on December 20, 2020 at 11:09 AM
Special Sunday Sankey featuring the legendary oil’s share of the S&P500 vs oil’s share of the S&P500 earnings charts! Sadly, it was not worth running them all year, given the horrendous earnings of the sector in what will be the worst year in the history of oil relative to expectations. Now, as we look directly into 2021, the charts are beginning to make sense. More inside this note but a couple of starters for you, […]
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By Paul Sankey
Published on July 6, 2020 at 4:07 PM
PSXP stock is getting hit hard on today’s surprise Dakota Access shutdown ruling, alongside Energy Transfer (ET) and Bakken players such as Contintental, OAS, WPX, NOG and diverse names such as MRO. Winners: Canadian suppliers, Permian and other Basins than Bakken, and in refining “Valero wins by not losing.” Of course in the grand scheme of things, the most environmentally-friendly way to move oil is by new pipeline, less by rail, least by truck. But […]
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