Natural gas:
- an incredible story
Hedging: shale drillers that hedged are taking huge losses; link here -- paywall; Leave $12 billion the table. Yahoo!Finance, no paywall, has same story. Original link:
Energy investing:
- ET: earnings climb as natural gas revenues jump. Link here.
- PXD: hikes dividend; new: $1.51; was 56 cents;
- Scott Sheffield: "we aren't looking at any more Midland Basin acquisitions; we bought the best two available;
- unsaid: "RDSA is in the Delaware." I'm not the first to have noticed that.
- OXY: swings to profit; impresses Wall Street;
- DVN: impresses Wall Street;
- Shell Permian's assets, link here:
- $10 billion
- Devon
- Conoco
- wow: what a great opportunity for a joint venture, then divvy up the acres where they fit best; this is not rocket science
Geopolitical:
- OPEC needs Russia: a superpower that can stand up to the European carbon tax on imports. Link hree.
Covid-19:
- in retrospect, the UK was lucky to have those life-saving lockdowns. Otherwise they would have ended up like the reckless Sweden. Link here. Great graphic at the link.
Market:
- bonds are the suckers at the poker table right now: Twain's Mustache. Some financial advisors still recommending a 60-40 equity/bond split. And charging excessive fees for that advice.
Jobless reports:
- does anybody care?
- yes: Jay Powell does and it appears of his two mandates, he is more concerned about jobless than inflation;
- so, another bullish report for investors
- markets being held back, not by jobless report today, but by WTI dropping below $70
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