US Fossil Fuel In The News -- November 4, 2021

Pipeline capacity:

• added "transnational oil pipeline capacity" could reduce CBR
• the EIA is talking about trans-Canada-US pipeline capacity, specifically Enbridge's Line 3 replacement project; link here;
• the DAPL could become superfluous: interesting commentary; link here;

Another Louisiana deal: when will Texas join the Haynesville party? Southwestern Energy. Link here. Archived.

Saudi has it right: it's not OPEC's fault.   

• the US is lagging in crude oil production, mostly due to Brandon's policies and even worse, uncertainty about future Brandon actions;
• it's the uncertainty that keeps oil companies from drilling; 
• windfall profits taxes in their crystal balls, as just one example?

Spare capacity? 

• I doubt it. 
• so does an oil-peaker. Link here. 
• by any stretch of the imagination, I am not a peak-oiler but I do argue that the tea leaves suggest OPEC has little spare capacity; and, 
• the corollary is that the Permian has become the swing producer.
  

Market commentary, Horizon Kinetics. 

• This is an extremely long commentary on energy, twenty-nine pages.
• lots of interesting information for those who have time to wade through almost thirty pages of commentary. It will download as a pdf: https://horizonkinetics.com/app/uploads/Q3-CVALUE-Review_FINAL-1.pdf. 

Global inventories:

Seven oil stocks: hitting seven-year highs. 

Devon? Delaware wells? Link here.

US shale: there's never been a better time ... anything decent has a <1-year payout new drill .... link here. It appears most oil analysts are not aware of this.

A ton for free cash flow. Literally. Link here. 

LNG: largest-ever supply deal between US and China just announced. Link here.

• Venture Global LNG; a 20-year supply deal with Sinopec;
• $30 billion deal
• Venture Global now the top American LNG exporter to China
• this something that Europe cannot do; this is what Europe is so afraid of when it comes to energy and the US. It explains why the EUro-crats are so eager to vilify fossil fuel. We've talked about this before.