New Englanders need to wake up

[dan_s]

Households in the Northeast brace for costly heating bills. The Institute for Energy Research.

According to the Energy Information Administration (EIA), U.S. heating oil prices were 65 percent higher this October than they were in October of last year. Residential heating oil prices on average nationally rose to an annual high of $5.90 per gallon on November 7, 2022, because of tight inventories, low imports, and limited production capacity but fell to $5.79 per gallon on November 14—still 70 percent higher than a year ago. Only 4.1 percent of U.S. households use oil as their primary heating fuel, but in the Northeast, the percentage is much higher – 33 percent. In EIA’s November update of the Winter Fuels Outlook, households that use heating oil as their primary source of heating fuel are expected to spend 45 percent more on average for heating this winter compared with last winter because of higher retail heating oil prices and higher expected consumption. The average price is expected to be $5.14 per gallon—32 percent higher than last year. Biden has been pushing for more energy exports despite his continuing assaults on additional energy production here.

Household in the Northeast that burn natural gas for space heating will also have much higher utility bills this winter thanks to Democrats that block every attempt to build pipelines that could bring much cheaper Marcellus & Utica shale gas from Ohio and Pennsylvania to New England. New England must import LNG which is now 5X to 10X more expensive than U.S. natural gas.

[Fraser921]

The US doesnt allow a boat load of heating oil to be shipped from Houston to New York due to the Jones act which means we have to buy and compete for supplies from India, China and Europe then ship it to NEW England rather then buy from ourselves.

The excess product thats refined in the US gets exported

This is why I like tanker stocks. rates are surging due to demented policies.

Rates go bonkers >> https://www.tradewindsnews.com/tankers/ ... -1-1359083 BUY TK, TNK, FRO

Makes no f'n sense

[ChuckGeb]

Is there an ETF with concentration in tankers?

[Fraser921]

Not that I know off..

If you like dividends FRO
If you like growth tnk tk
If you want a little diversification INSW
If you like product tankers STNG , The ceo is buying stock and options. He has the info to place this bet

https://www.scorpiotankers.com/scorpio- ... company-9/

My personal largest position is TK..WHY?

They have > 300 m net cash , no debt and own 10 m shares of TNK worth 350 m 100 m shares o/s
300+350=650 the stock is trading for 4.50 or 450 m. Every dollar TNK moves up is 10 more cents for TK to the valuation

Here is a SA article on them

https://seekingalpha.com/article/454218 ... ed-outlook

STNG CEO said in last CC call "we're super bullish. The NAV is moving nicely along to, soon, probably be around $82.00 a share or so.

https://seekingalpha.com/article/455151 ... transcript

He is putting his own personal money where his mouth is

[ChuckGeb]

There is no better barometer than when the CEO takes money from his own account and buys stock in the company! That option position is big time bullish.