CalgaryC

I believe OneDrive was designed by a vengeful god who hates us all

[Burt Macklin @BurtMaclin_FBI]

Nobunga is an amazing story teller. He takes common American occurrences and tells them from the point of view of a Japanese samurai and it’s hilarious.

[CalgaryC @c_calgary]

I wish people like this were in charge of #yyccc for the last 15+ years. Instead we get the same tired tropes about how yet another obscene property tax hike is “just pennies a day for the average homeowner”

[TBPN @tbpn]

.@ericries explains why former Costco CEO Jim Sinegal refused to raise the price of everything in the store by $.03, despite the fact that Costco knew it wouldn't decrease sales, and would increase their net income by 50%:

"He says, 'It's like the business equivalent of taking heroin. You do it once, and then you got to do it again, and again, and again. Next thing you know, you're not the low-price leader.'"

"You can get away with screwing people over. You always do it, no matter what. You raise margins. Margins are a source of strength."

"But Costco is built on a very different philosophy, which is that margins can be a source of weakness. @JeffBezos understood it. He used to always say, 'Your margin is my opportunity.'"

"When you're making too much money, when you are being too extractive, you're actually harming your competitive position in the long run."

[Kirk Lubimov @KirkLubimov]

Canada has some of dumbest financially illiterate journalists trying to carry water for Mark Carney.

Watch as Pierre Poilievre puts one in his place:

"There have been 4 quarters since Mark Carney became a Prime Minister, the economy shrunk in 3 of these quarters."

Absolute beat down.

[Jas Johal @JasJohalBC]

BREAKING: Aboriginal title can’t apply to private land, Supreme Court of Canada decides
https://t.co/mRnAPzihJI #bcpoli #cdnpoli

[CalgaryC @c_calgary]

@sohaibab9 Which smallcap/privateco’s are you seeing go sideways here?

[David Senra @davidsenra]

This conversation with @RickRubin is special. Here's a 2 minute preview that I’ve watched 15 times.

The episode will be out tomorrow:

[tobi lutke @tobi]

CPP underperforms passive indexing. It should have 5 employees, ideally all on vacation most of the time.

[Andrew Coyne 🇺🇦🇮🇱🇬🇪🇲🇩 @acoyne]

My latest, on the continuing fiasco at the CPP investment fund, which has now spent more than $50 billion over twenty years to lose about $100 billion relative to what it might have earned, for an equal amount of risk, if it had just bought the relevant indexes — or flung darts at the stock listings.
https://t.co/293Q8BwwCq

[Eric Nuttall @ericnuttall]

If the cost of a new 1MM Bbl/d pipeline is Pathways, a $30BN project conceived in a vastly different world that erodes our competitiveness, then I say nay. It took me 4 hours to get my 6 year old an ankle x-ray last night...we do not have to live like this, yet choose to. Sad.

[Amir Barnea @abarnea1]

CPPIB retroactively changed its benchmark over a 10 year period. Consequently, its past relative performance improved dramatically.
Executive pay, linked in part to relative performance, shot up.
My latest @TorontoStar
@FP_Champagne @karinagould @acoyne
https://t.co/pq7D7ISkXx

[CalgaryC @c_calgary]

@ShaleTier7 All sell side equally guilty or are there grades of greaseball? Price is silly but somehow less offensive (to me) than the ever-present hockey stick growth on what are obvious run-flat assets

[Heather Exner-Pirot @ExnerPirot]

UAE to build new pipeline
It will be finished in 2027
(Cries Canadian tears)

[CalgaryC @c_calgary]

Person who was wrong about everything continues unbroken streak of being wrong.

[Catherine McKenna @cathmckenna]

In case anyone is wondering, gas is not clean energy.

[A Deal is Imminent @tradeoilstocks]

“Give them a massive amount of oil, agricultural land, copper, freshwater, and every natural resource in the world. Now make them neighbors with the biggest market in the world. Great, now have them leave the resources in the ground and instead flip condos to each other”.

[Heather Exner-Pirot @ExnerPirot]

Big change in tone on natural gas, and a promise to amend Clean Electricity Regulations is extremely positive and important. A lot of the rest looks to me like building on what was already ENGO consensus under Trudeau, ie electrification of heating and transportation, interties, clean electricity ITCs. I think we need to build electricity like crazy for perhaps different reasons but we can all agree we need to build like crazy. /2

[CalgaryC @c_calgary]

Strange to position taking on contracts then screwing up the build cost so badly but also, the shippers should be fine with blank check obligations to infra developers. Good thing fmr Minister Mckenna didn’t have authority over $B’s when she was doing JT’s bidding…wait…

[Catherine McKenna @cathmckenna]

Fact: Canadian taxpayers paid $37.5 billion for TMX. Oil and gas companies are fighting tolling that covers project costs which means taxpayers are massively on the hook. But maybe you’re saying oil and gas will pay tolling to cover the real cost. Great. https://t.co/imsEyBM2kU

[Heather Exner-Pirot @ExnerPirot]

Facts:
1. TMX is a government asset whose costs are covered by tolls from O&G producers. It is profitable.
2. Oilsands are not the most expensive barrel anymore, because it’s not 2015. They are generally among the lowest break-even barrels in North America.
3. Oilsands are not the most carbon intensive barrels. They are only 1-3% higher emitting than the average US refinery barrel, and are lower emitting than heavy oil competitors Iraq, California and Venezuela.
Sources in thread /1

[Heather Exner-Pirot @ExnerPirot]

No one is immune, not even fertilizer producers.

Mosaic said prices for key ingredients such as sulfur, ammonia and urea are continuing to climb as demand increasingly outstrips supply.
“Many producers are struggling to secure raw materials, resulting in an already tight market becoming even tighter… To put it simply, there is not going to be enough phosphate to meet global demand.”
https://t.co/zfL2Ne9MVJ

[QE Infinity @StealthQE4]

We are two weeks from oil shortages and demand rationing according to Bloomberg.

Not months…weeks.

Anyone that thinks this oil shortage isn’t a serious immediate crisis is delusional:

[Gaurab Chakrabarti @Gaurab]

Seven US refineries have shut down since 2020. This removed 1.2 million barrels per day of distillation capacity. China overtook America as the world's largest refiner in 2022. US jet fuel supply is dropping to 21 days, the lowest since 1963. Every barrel of crude oil on Earth, 82 million per day, enters a column like this one. At 66 meters and 1,300 tonnes, it is taller than the Leaning Tower of Pisa. There are over 40,000 of them across America. They distill crude oil, ethanol, and pharmaceutical solvents. Each barrel is heated to 400°C and separated by boiling point. Gasoline rises. Asphalt sinks. Distillation consumes 40% of all energy used in the chemical process industry. The process was invented in the 8th century. America hasn't constructed a new refinery since 1976. No country has built a viable replacement at scale.