Sunday, June 26, 2022

Energy -- Just Getting Started -- June 26, 2022

Biden has just arrived in Europe for G-7 meetings.

Germany is in deep doo - doo. No links. Stories everywhere. Watch what comes out of the upcoming G-7 meeting.

  • link here.
  • Is President Biden attending? Yup.
  • the talk in the hallways will be all about SCOTUS
  • the talk in the restrooms will be all about Putin
  • public meetings: all about energy

Mexico
:
  • links everywhere; here's one;
  • new refinery will break the bank;
  • this is what happens when politicians run Big Oil
Brazil:
  • PBR on its way to yielding (dividend) 100%
  • will set a new bar for rewarding shareholders
  • will US shale meet that bar? LOL. Here's hoping.
  • link here.

US oil:

  • short-covering last week; link here
  • tread carefully; end of quarter; end of month; July 4th weekend

Inflation: a mis-read by the Fed? 

  • link here
  • inflation now appears to have eased from earlier reports that inflation was at 14-year high
  • tells me two things
  • we've been here before -- fourteen years ago
  • the Fed is confused; as we all are

Kellogg: nothing to do with energy but huge story

  • splitting into three companies;
  • links everywhere; here's one;
  • Kellogg ticker (K), last:
  • up 2%
  • trading at $71
  • 52-week high: $76
  • P/E: 16
  • div: 3.3%
  • mkt cap: $24 billion

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