Energy Prospectus

mitchl

Being polite to your AI assistant could cost millions of dollars. OpenAI CEO Sam Altman revealed that showing good manners to a ChatGPT model — such as saying “please” and “thank you” — adds up to millions of dollars in operational expenses. Altman responded to a user on X (formerly Twitter) who as...

mitchl

Looks like right now SPUT (SRUUF) is trading at a 13% discount to NAV.

In my opinion, it is a great time to be dollar cost averaging in the Uranium space for a 2-5 year horizon.

mitchl

$BTU up 9% on the day and up ~18% after hours at the moment. (Bloomberg) -- President Donald Trump signed executive orders to expand the mining and use of coal inside the US, a bid to power the boom in energy-hungry data centers and revive a flagging US fossil fuel industry. “Today, we’re taking his...

mitchl

Thanks for posting Chuck. Interesting perspective.

mitchl

https://x.com/JustinTrudeau/status/1886529228193022429 Just in from Trudeau: I just had a good call with President Trump. Canada is implementing our $1.3 billion border plan — reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and in...

mitchl

My WAG is a lot of these tariffs will be short lived. Just in from Trump this morning on Mexico: I just spoke with President Claudia Sheinbaum of Mexico. It was a very friendly conversation wherein she agreed to immediately supply 10,000 Mexican Soldiers on the Border separating Mexico and the Unite...

mitchl

Where there is significant risk, there can be significant reward. Congrats to those who joined JJ on the sub $10 buy. I stayed on the sidelines on this one.

mitchl

4% up move for Silver today bringing it to $33/oz.

mitchl

I agree Chuck. SilverCrest was a great pick, but I believe the big gains on this one is in the rear view window now. I still own Heliostar Metals (HSTXF) and Discovery Silver (DSVSF) as *extremely* speculative plays. Do your own due diligence. I have a nice unrealized gain on both at the moment and ...

mitchl

Gold’s one ~15% move away from $3000.

Silver above $30 today. Hoping we see new all time highs for silver soon.

mitchl

Election is three months away, more tension in the middle east, AI is losing some of its steam, fear of recession is back already. It may be an alright time to add to some uranium positions. Nuclear energy is less associated with economic activity than oil and more with baseload power. However, the ...

mitchl

https://finance.yahoo.com/news/tellurian-acquired-woodside-approximately-900-222900949.html

Seems like a nice premium.

mitchl

The Keith Kohl note feels like a good grounded perspective.

I do wonder though: if we get decisively under $70 WTI, how long could we practically stay there?

mitchl

Maybe those VTLE hedges will come in handy after all.

mitchl

https://www.bnnbloomberg.ca/copper-firm-drops-china-financing-deal-after-canadian-scrutiny-1.2075629

mitchl

My two cents: anything done in the name of climate change likely has a different motive.

mitchl

I like these guys too. Looking forward to the webinar.

mitchl

From CNBC: Warren Buffett hinted that Berkshire Hathaway was evaluating a possible investment opportunity north of the border. “We do not feel uncomfortable in any way shape or form putting our money into Canada. In fact, we’re actually looking at one thing now,” Buffett said. https://twitter.com/CN...

mitchl

https://www.ctvnews.ca/politics/trans-mountain-pipeline-expansion-gets-green-light-to-open-for-may-1-1.6867986

Great for the Canadian names. No more last minute hiccups to worry about.

mitchl

That is when they put AI into a time out.

Microsoft had to do it before in 2016:
https://www.theverge.com/2016/3/24/11297050/tay-microsoft-chatbot-racist

mitchl

I listened to the full podcast during a long drive this past weekend (doing my role in keeping up gasoline demand ha). That said, I'm not 100% convinced AI will play a big role in electricity demand. I think it is in the cards, yes, but not a given. What about AI specifically is electricity demandin...

mitchl

I’m not an expert on the fed nor interest rates. But, it feels like the fed is digging themselves more and more into a trap. Conventional wisdom seems to be lower interest rates means more inflation. So therefore higher interest rates are the opposite? However, there is a school of thought that high...

mitchl

Journey ceo Alex Verge did a X Spaces the other month and I believe the power plant was one of the topics. I can’t find the link to it right now, but I believe he attributed it (partly) to the recent sharp share price decline. Seems like there is built in optionality to the stock assuming success wi...

mitchl

Fraser, who is this PetroGirl?

Looks like she gave you a cheers this morning!

https://twitter.com/PetroGirl1/status/1782401506072822027

mitchl

Thanks guys for your posts. I do believe there is an opportunity here in Platinum and Palladium (look at Palladium 5 year chart).

I will take a look at some of these names. Physical trust seems like the simplest way to play it which be the most appropriate in this more niche sector.

mitchl

Additionally, Russia accounts for ~25% of global Palladium supply and ~8% of global Platinum supply (2022 figures). I’m unaware of any great investment vehicles in Platinum nor Palladium but it would appear Russia has significantly sold these in the last year or two to fund the war.

mitchl

I appreciate your posts Petroleum Economist. They supplement Dan’s regular posts well along with those of the other members.

mitchl

Fraser, in other words: “mostly peaceful”

mitchl

https://twitter.com/anasalhajji/status/1773754505059852529

mitchl

Nice to see more coverage of the Canadians. It feels like no one really covers them sometimes.

mitchl

We’ve had a moderately colder than expected last few days here in the Upper Midwest including our first blizzard of the year. But, it looks like we’ll be seeing more typical temperatures next week.

Agree we still have a ways to go for gas.

mitchl

I share the enthusiasm as well. I hope the Canadians are nearing an inflection point.

mitchl

Looks like there is a massive disconnect between the price of gold and gold stocks. I know the miners have had pretty bad inflationary costs (such as diesel and labor) the last 2-3 years, but can't help but think there are some really good opportunities in gold stocks right now.

mitchl

https://bisoninterests.substack.com/p/diamondback-acquisition-of-endeavor?utm_campaign=email-half-post&r=1kbc12&utm_source=substack&utm_medium=email

Obviously you can't do an apples to apples comparison on all the names but interesting comments nevertheless.

mitchl

From aja’s link:

”According to The New York Times, ahead of the decision, the Biden team met with Alex Haraus, a 25-year-old Colorado social media influencer who has led a social media campaign against LNG projects in the Gulf.”

TikTok warrior

mitchl

I hope there are no more transmountain obstacles ahead. Hopefully this is a good direction to “fixing” the WCS differential

mitchl

In extreme temperatures it is not only that range is more limited but you might not catch a charge at all!

mitchl

More EV ownership might help the great paradigm shift… in a sense.

https://www.fox32chicago.com/news/dead-teslas-oak-brook

Can’t help but imagined I’d be pretty frustrated as one of these car owners.

mitchl

Must be this one: https://twitter.com/TuckerCarlson/status/1744777758507504061

mitchl

Eric Nuttall: “TMX linefill in ~April in my opinion will act as a turning point for sentiment towards Canadian oilsand/heavy oil stocks, by not just lowering the WCS discount to ~$10-12/bbl (from $20+) but as importantly greatly reduce WCS volatility, a major reason why foreign investors have avoide...

mitchl

https://www.reuters.com/world/americas/canada-regulator-wraps-up-trans-mountain-pipeline-variance-hearing-2024-01-12/

mitchl

Chicago 10 day forecast is starting to look more interesting.

mitchl

Lbark, looks like your $100 uranium wish came true.

https://numerco.com/NSet/aCNSet.html

Next wish?

mitchl

Yeah I definitely remember a lot of negativity in the uranium space in 2022 and 2023. Everyone thought the 2021 surge was going to be the big one and many that bought the top were very angry. Now everyone wants in after everything has doubled. I am glad I was able to accumulate at the cheaper prices...

mitchl

How low can sentiment get? Hard to objectively measure sentiment. https://twitter.com/Josh_Young_1/status/1743398537260368365 According to this chart hedge funds are less long right now than the start of covid. Quite remarkable. Maybe we need to see a few more big name oil bulls like Doomberg change...

mitchl

Lbark, I watch FNV and added on this dip. My view: the Panama Government ordered shut down of the Cobre Panama mine is the news that hurt FNV. Looks like that mine (in which FNV holds royalty interest) impacts around 21% of FNV’s revenues. FNV’s share price has taken around a 20% dip on the news so ...

mitchl

Maybe they can move the wind farm to Martha's Vineyard?

mitchl

I agree with JBtheBrit. The current trend is still up for demand. 2021, 2022 and now 2023 have all eclipsed the previous year in record coal demand. https://oilprice.com/Latest-Energy-News/World-News/Global-Coal-Demand-Is-Set-to-Hit-a-Record-High-in-2023.html I have owned ARCH and BTU before but cur...

mitchl

https://www.marketwatch.com/story/battalion-oil-to-be-acquired-by-fury-resources-for-9-80-shr-ad7adeef

Sale price well above market it looks like.

mitchl

Curious to hear your input as well Dan on where to focus in this climate. Earlier in the year you were mentioning it made sense to be overweighted more to oil than gas. Wondering if that holds or it might be time to start adding gassers. Also looks like the Canadians in general are really getting wh...

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