Notes From All Over -- The Late Night Edition -- July 15, 2021

In 72 hours, the buzz coming out of Wall Street, all that talk about an anticipated oil shortage looks premature. The conversation is back to too much oil. And a stronger dollar driving down the price of oil. Maybe for all of those who have been accumulating energy stocks in the past six months, time to take some profits. I continue to accumulate but I'm being very, very picky.

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By the way: a stronger dollar? Who would have guessed. Look how fast this changed. Compare:

• January, 2020 - April, 2021
• May 11, 2021 - June 16, 2021
• June 20, 2021 - July 15, 2021

Structural deficit:

"This Saudi / UAE spat is being overblown ... oil market in 'voluntary deficit' now and multi-year structural deficit in 2022+. That is all that matters." -- Eric Nuttall

The promise of stock buybacks isn't going to cut it. Maybe analysts like "stock buybacks" but mom-and-pop retail investors don't. They want to see dividends increased or initiated. By the way, think about this:

• energy companies in general already pay huge dividends (at least the ones that interest me);
  
• with drop in equity prices, those dividends, on a percentage basis, just got bigger; and,
• no energy company will dare cutting its dividend; in fact, even if the dividend is not increased this year, there could be hell to pay, as they say.

And we'll end with this tonight: Cheniere gas supply deal with Canada's Tourmaline lifts LNG expansion in Texas. Link here.

• 15-year pact
• tied to the Corpus Christi Liquefaction terminal in Texas