See first link: Rail Link is a rail line in Montana, not Odessa. See first comment.
Picture of the day, Odessa. Rails? We don't need no stinkin' rails in the Permian. At $93, one needs to do what one needs to do.
White House presser:
Covid masks becoming easier to obtain. With all that's happening in the world right now, and with Covid-19 in our rear-view mirrors, does that mask announcement seem so ... weird?
Texas grid:
- forecast: demand would surge to 75 GW
- in fact: did not reach 69 GW
- ERCOT capacity: 80GW
WTI: $93.
Suncor: ouch.
- "every" other oil company is up 3 - 5% today on $93-WTI
- Suncor? down over a percent after earnings announced; still in the red for the day
- Suncor -- the darling of the Canadian companies reports earnings -- headlines:
- Suncor earnings: shares fall as 4Q21 swings to $1.5 billion profit
- Suncor posts a nice quarter
Quoth the Raven, link here -- remember when Cathie Wood said oil was going to $12:
"Oil demand probably hit a secular peak last year (2020) and, thanks to EVs, now is in secular "decline."
"Though ARK has no formal forecast, I believe that oil prices are on their way back to $12, the level reached after the 1973 oil cartel crisis, or lower, now that EVs are taking off."
