Month: January 2023

Oil and gas producers seemingly have settled on a strategy. OPEC and Russia will limit production and let prices rise during a global war-famine-pandemic. OPEC sets the price umbrella while the Russians discount the price for obvious geopolitical reasons. All other big oil producers adhere to pricing and supply discipline knowing that OPEC’s costs of production are so low that OPEC can undercut any oil producer that ignores pricing discipline. The big US producers say they will not expend capital to increase supply when they lack assurance of continued demand.…

Guyana’s offshore oil boom continues to gain momentum. It is the ExxonMobil-led consortium operating the 6.6-million-acre Stabroek Block offshore Guyana which stands to benefit the most from what analysts describe as the last great frontier offshore oil boom. The global energy supermajor has made over 32 world-class discoveries in the Stabroek Block and is now pumping 360,000 barrels per day from the consortium’s operations in the Liza oilfield. This is a spectacular development considering that Exxon only made the first discovery in the Stabroek Block in May 2015. The two…

Growth stocks have been thoroughly hammered this year, with high inflation and rising interest rates pinching growth equities of all stripes. But few stocks exemplify the dramatic shake-up at the top, like leading EV maker Tesla Inc. (NASDAQ: TSLA). TSLA stock has tanked 69.5% in the year-to-date, wiping off a staggering $877 billion from its market cap. In comparison, the S&P 500 has declined a more modest 19.7% over the timeframe. Tesla has gone from being the fifth most valuable public company and now ranks just thirteenth with a market…