Energy policy Twitter IRL w Heather Exner-Pirot

Can’t overstate how massive a step back this would be for North American EV usability and thus market penetration.

Absolutely no comment on the protests but this is literally my bike lock.

If you care about your bike, this is the lock you use.

I've long believed that TMX is worth it, even with cost overruns & despite losing money in its own right because Cdn crude $ impacts of no pipeline are SO much worse.

But Trevor Tombe makes the case that TMX could still make sense on a stand-alone basis.
thehub.ca/2024-04-30/tre…

These lower crude prices are justified.

Between overextended spec positioning and a suite of geopolitical risks over the past ~2 months, recently lower $ look more justified by *current* fundies (i.e., inventories)

Sustainably higher from here will require actual stock draws.

Barrel of WTI now worth roughly two Californian Chipotle double steak bowls.

WTI crude has been downgraded to the $70s.

🚨 NEW POST 🚨

𝗖𝗿𝘂𝗱𝗲 𝗣𝗿𝗶𝗰𝗲 𝗠𝗼𝗱𝗲𝗹: 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝗥𝗲𝗮𝗹𝗶𝘇𝗲𝗱 𝗙𝘂𝗻𝗱𝗮𝗺𝗲𝗻𝘁𝗮𝗹𝘀

How much of the 2024 oil price rally can be ascribed to inventories alone?

Read the full report here:
commoditycontext.com/p/crude-price-…

Prompt Brent crude calendar spreads getting crushed.

Regardless of what I think, however, Mr Market reacted negatively to this morning's report.

And that's after last week got a temporary bid on that bullish print only for it to reverse and still end the day down.

[Today on Left, Last Wednesday on Right]

One of the issues with a large portion of my feed being constantly permabull'd up is that 'normal' reads bearish.

That's self-imposed pain.