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Quote of the day: Blaming the oil industry for carbon emissions is like blaming the sugar cane and wheat farmers for obesity, it all comes down to the consumer – Majid Jafar CEO of Crescent Petroleum

Apache
Paul Sankey

US E&P Q3: The Power to Set Oil Prices

Key points: Clients are focused on OPEC spare capacity and demand growth, but also, rightly, North American supply growth, which is the most price elastic component of global oil supply. Halliburton results yesterday naturally raise questions over US production growth; the company stated that it sees 20% rise next year in North American revenues, which includes “solid pricing gains”. This would imply Halliburton expects US E&P capex to be ~10% higher next year; not a

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Auto / EV / Battery
Paul Sankey

Embark Sunday Sankey 10/17/21

Today as your Sunday treat, we attach a focus note on Embark Autonomous Trucks, as part of our thematic research on the energy transition. Extending attention into the autonomous truck sector has been a fascinating ride, quite literally when I rode in an autonomous tractor trailer hauling 26,000lbs of sand through the traffic jams of Oakland, this September just past. The thing worked amazingly, through all the challenges of modern traffic. Imagine an asset-light company

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Cheniere
Paul Sankey

Friday Sankey 10/15/21

Mega-theme: the backlash against the nonsense elements of ESG Mega-theme: LNG Friday, so here’s a longer joke (?): Conspiracy theory: The UK climate protest group Insulate Britain are so completely bone-headed and infuriatingly disruptive (blocking the key London ring road, M25), that I can only assume they are a British Government/MI6 counter-environment group that is working to increase public opposition to the environmental movement in the sensitive run up to COP26 on 1st November in

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