Headlines From Twitter -- April 29, 2022

The headlines:

• TC Energy beats profit estimates; expects LNG exports to grow 90%. 
• US solar industry warns of slowdown due to supply chain disruptions.
• XOM, CVX post big revenues, Wall Street shrugs (small mom-and-pop retail investors are going to beat the big Wall Street investors)
• CVX posted the highest quarterly earnings in almost a decade
  
• North American oil companies scramble to find workers despite boom
• Phillips 66's early 2022 turnarounds to end as gasoline driving season looms
• Gulf Coast fuelmakers are exporting a massive amount of diesel
• annualized total equity returns adjusted for inflation are worst since 1974
• Total Energies (one of my favorite companies) has started production of sustainable aviation fuel from a new plant at its integrated Normandy refining / petrochemicals platform in France
• I can't recall if I still hold shares in TTE;
• WTI: $250?
• Gazprom's European gas storage empties out. Think about that.
  
• North Dakota's oil output briefly plummeted to just 300,000 bopd day -- blizzard. Think about that. 
• ULSD (ultra-low sulfur diesel) now stands for ultra low-supply diesel
• physical New York diesel market is on fire, with prices surging > $250 / bbl oil equivalent; dieeseel is the workhorse of the global economy, the fuel of trucking, railway, shipping, heavy machinery and, don't forget, farming. If we have a recession; it begins here with diesel.
• after weeks of reluctance, Germany now backs a European Union plan to ipose a gradual embargo on Russian oil imports

I don't know if it will happen before Biden's first term [ends January 19, 2025] but within my investing lifetime, I am absolutely convinced there will be a crude oil supply / demand (crude oil shortage) that will be absolutely unprecedented. It will be global and worse than what the US saw during the OPEC embargo of 1973 - 1974.