Huge Energy Stories Today -- December 8, 2022

I read the first headline below and almost fell off the treadmill. 

Biden to double the amount of natural gas the US will export to Europe.

• link here;
• Europe will need to import huge volumes of LNG in 2023 (that's next year) -- Trafigura, as reported by Charles Kennedy
• if Charles Kennedy's story is being published today, the Biden administration had to have known about this for weeks;
• Germany's off-shore floating LNG import teerminals delayed in construction -- just announced today --

Trafigura profits:

• link here;
• commodities trader Trafigura earned a record $7 billion in its last financial year;
• more than the previous four years combined;

Mexico crude oil production continues to fall;

• link here;
• Mexico: production estimated at 1.62 million bopd in November, 2022
• Mexico's quota per OPEC+ is 1.753 million bopd until December, 2023
• at the link, a great graphic regarding Russia output vs OPEC output the last two years;

Keystone pipeline shut down:

• links everywhere
• near the Kansas-Nebraska border, in Kansas
• company not releasing how much was spilled

Exxon to expand stock buybacks.

• link here;
• expand buyback plan to $50 billion;
• sees cash flow doubling by 2027;

Gasoline prices plummet to below-year-ago levels.

• link here;

Transport prices fall at the fastest rate on record.

• link here.
• this whole inflation thing is looking more transitory than some would care to admit;

Russian oil:

• being held up in transit; D5S much more effective that originally thought;
• Urals grade oil, which accounted for about 60% of the Russia’s seaborne exports over the past year, traded at $43.73 a barrel on Wednesday, two days after D5S sanctions went into effect; link here;
• remember: only Russian seaborne oil is affected by the D5S sanctions; COBP is not at risk due to sanctions;

OPEC cuts:

• Gulf producers lead on OPEC+ cuts,
• Saudi crude output at 6-month low:
• OPEC production falls by 850,000 b/d,
• Saudi pumps 10.46 million b/d
• Non-OPEC boosts output by 150,000 b/d led by Kazakhstan, Russia;
• link here;

Investors:

• link here;
• UBS’s billionaire clients are betting on big gains from energy
• they’re also seeing opportunities in
• pharma,
• biotech, and
• software,
• with Asia Pacific excluding mainland China ranking as the top region.
• my "new money allocation":
• blue chip: 40%
• beat down tech: 25%
• energy (mostly US oil): 20%
• mRNA (mostly Big Pharma): 10%
• Daimler Truck: 5%