Best tweet all week: NKLA producing "dozens of cars this year. Couple of dozen at low end of guidance." Link here.
- NKLA: up 5% today when the market is otherwise crashing (due to oil)
- market cap: $4.251 billion
- are you kidding me? LOL.
Someone is reading the blog: I've known this for years (decades?). Only recently started mentioning it on the blog (in reference to AAPL). But now PXD Sheffield is saying the same thing and puts his money where his mouth is; tripled his company's dividend. From Sheffield:
- investors favor dividends over buybacks; well, duh;
- raising the bar: "when was the last time you saw PXD up 8% after earnings?" Link here.
- comment: always kind of amazing how guys like Warren Buffett try to convince us otherwise, laughing all the way to the bank;
Post-Brexit, the UK is cashing in, link here:
- Chinese applications to UK universities now outstrip the total number of would-be students from the EU;
- highlights the impact of Brexit and the sector's growing reliance on China;
- link at that site will take you to Bloomberg;
Renewable diesel (whatever that is), link here:
- if all renewable diesel projects come online as intended, US renewable diesel production would be 5.1 billion gallons -- okay -- gilding the lily, using gallons -- let's convert that to 42-gallon bbls = 121 million bbls per year by the end of 2024:
- 121 million bbls / 365 days = 350,000 bpd
- in 2020, distillate fuel consumption by the US transportation sector, which is essentially diesel fuel, was about 44.61 billion gallons -- here we go again -- or 1.06 billion bbls, or an average of 122 million gallons or 3 million bpd
- so, assumking the math is all correct -- a huge assumption -- and rounding:
- 300,000 bpd renewable diesel / 3 million bpd demand = 10%
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