Dubai started to interest me in 2012 when I was in Kurdistan, which is just off the top of the map below, above the word Baghdad. I was on a property visit—travelling half way around the world to see a pipe coming out of the ground—and all the brokers...
Western Canadian gas exports to the United States could be completely displaced into Northern California by
1. Abundant, low cost US natural gas production, and
2. By several new gas pipelines in the US...
Says a new market study by Bentek, a US energy analysis company.
Overall, Canadian gas exports to the US...
WTI pricing is a fairy tale for US E&Ps.
What I mean by that is...no producer gets to realize WTI prices in selling their oil, and that shows up in their quarterly reporting. Investors can't just average out the WTI price for a quarter and think that the company in...
The Brexit side has won. The British people, the nation (not the politicians) have voted to leave the European Union, and become as Norway and Switzerland are—in Europe but out of the EU.
This is not a binding vote; it’s only a referendum. And it was a very narrow margin—basically...
Last week and this week I look at two ag commodities--phosphate and this week -- POTASH. Prices are soaring--but is this the peak of the cycle?
If you only looked at the supply and demand of the potash market, you would come away thinking its balanced.
Potash demand is expected to...
Canadian energy stocks are playing serious catch up to their American cousins this year. And I think that should continue through 2014—Canada is the Best to Invest in energy for the first time in 2-3 years. Last year, everybody’s money was going into US stocks—in almost all industries. Energy...
2016 Themes
When I look back on 2016, what were the Big Themes? For me, the #1 theme was the same as 2015--Nobody Knows where the oil price was going. We all guessed how much US production would drop (Market was about right), how tight credit would be (much looser...
Argentina is the “Comeback Kid” story of 2014. After getting vilified for nationalizing one large ownership block in the prolific Vaca Muerta shale play in 2012, Big Oil is coming back in a Big Way—and dragging up the share price of the fast growing juniors in the play.
Most investors...