Sujan

[Sujan @Sujan_Tweets]

True

[The Enforcer @ItsTheEnforcer]

Oil traders might actually be dumb, folks.

[The Enforcer @ItsTheEnforcer]

Oil investors might be the must gullible people to ever live… the price of oil increased wildly this morning after Iran announced all talks have ended.

Oil investors had apparently been believing all the “deal is close” headlines 🙄

[Sujan @Sujan_Tweets]

@ItsTheEnforcer

[Eric Nuttall @ericnuttall]

With details of the MOU (aka. The Grand Ransom) between Alberta and the Federal Government seemingly imminent, I would like to offer the following:
🛢️a 1MM Bbl/d pipeline to the West Coast is a "pipe dream" if not funded by taxpayers, and the likelihood of getting firm volume commitments for that scale is highly unlikely
🛢️Pathways, a ~$30BN project, was conceived in a different world than now and should be scrapped immediately
🛢️Carbon taxes make the industry at the margin less competitive and encourages investment elsewhere - the oilsands are 0.1% of global emissions - we are irrelevant
🛢️The industry does not need to be "future proofed" nor need a "social license" - the world is desperate for more energy and not a single purchaser of oil in the world asks nor cares about a barrel's carbon profile
🛢️With expansion on existing pipelines plus the Prairie Connector/Bridger project (which I'm now incrementally more confident will proceed) Canada will add ~1.6MM Bbl/d of incremental capacity, enough to get us through to the mid 2030's

[Eric Nuttall @ericnuttall]

Not a single purchaser of crude oil in the world asks nor cares about the carbon footprint of the barrel, instead is 100% focused on accessibility, affordability, and reliability. I do not see how we overcome this massive misunderstanding which underpins all ongoing negotiations.

[Eric Nuttall @ericnuttall]

You know things are bad when even Fatih Birol of the IEA is saying that Canada needs to get its act together and start developing more oil projects!

[Eric Nuttall @ericnuttall]

Jon McKenzie, CEO of Cenovus, came out swinging on their Q1 conference call today. Great to see CEO's becoming more vocal about our squandered opportunity! To summarize: no other oil producing country is doing this to themselves...time for Canada to wake up!

[Sujan @Sujan_Tweets]

@tleilax___ 👀

[Sujan @Sujan_Tweets]

@ItsTheEnforcer About time 🙂‍↕️🙂‍↕️🙂‍↕️

[Eric Nuttall @ericnuttall]

We are now (finally) at the breaking point where our reality is incontrovertible and prices cannot be stymied by tweet. 20MM+ bbl/weekly draws in the US = “battle for the barrel” = end of market complacency.

[First Squawk @FirstSquawk]

SHELL CEO EXPRESSES INCREASING CONFIDENCE IN CANADIAN GOVERNMENT SUPPORT FOR LNG CANADA PHASE 2.

[First Squawk @FirstSquawk]

SHELL CEO STATES ASIAN CUSTOMERS WANT MORE DIVERSIFIED SUPPLIES AND WILL PAY EXTRA FOR LNG, BENEFITING CANADIAN LNG.

[Eric Nuttall @ericnuttall]

For energy investors, every day above $100WTI is a phenomenal day.

[unusual_whales @unusual_whales]

Canada approved Enbridge’s C$4 billion Sunrise natural gas expansion project in British Columbia, marking the first major pipeline project allowed by Mark Carney’s year-old government, per Bloomberg

[Sujan @Sujan_Tweets]

@apexgamingpcs I reallyyyyyy doooo

[Open Source Intel @Osint613]

Canadian PM Mark Carney:

"Many of our former strengths, based on our close ties to America, have become our weaknesses."

[unusual_whales @unusual_whales]

Royal Bank of Canada and Bank of Nova Scotia have abandoned plans to reduce the carbon footprint associated with loans to heavy emitters such as oil and gas producers, per Bloomberg.

[The Enforcer @ItsTheEnforcer]

The American two-party system is a fraud designed to fool the masses into thinking they have a choice, but in reality you get the same result in the end.

…congress convened at 2am last night to pass warrantless mass surveillance while Americans slept 🤨

[Sujan @Sujan_Tweets]

Let’s see

[Eric Nuttall @ericnuttall]

A few thoughts with oil down 11% on the SoH being "opened" (until April 22nd):
🛢️voyage time for tankers out is ~25 days to Asia and 25 days back = ~ 2 months of continued production loss = ~600MM Bbls = still heading to lowest inventory levels in history
🛢️IEA yesterday saying will take ~ 2 years to fully normalize production
🛢️80 facilities have been damaged, 1/3 "severely or very severely" which will take quarters/years to fix
🛢️political risk premium of $10+/bbl likely and the floor price for oil is now higher given inventory reset
🛢️SPR restocking will = ~0.3MM Bbl/d of new demand for the next 4 years
🛢️oil equities were on average discounting $70WTI. Won't matter at the open but will again soon.

[unusual_whales @unusual_whales]

Kim Jung Un of North Korea has said: I am always ready to sit down with the US President at any time to make efforts for a mediation with Iran to produce an outcome that the international community would welcome.