Friday, February 4, 2022

WTI Is Off The Rails At $93 -- White House Is Monitoring -- Announces Masks Are Available -- February 4, 2022

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."

2 comments:

  1. Rail link is a Western Montana line. Have driven that road many times in North end of Missoula just off I 90.

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    Replies
    1. You are so correct. This was one of the few times that I didn't post the link -- my bad. But you are correct -- it's up in Montana, not Odessa. Interestingly enough, I actually have a post regarding "Rail Link" -- part of a much more interesting story. If I find the post, I will link it (no pun intended).

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