Energy Week
Energy Week
224 - Crackdown on power plants | Exxon expanding permian footprint?

224 - Crackdown on power plants | Exxon expanding permian footprint?

Biden admin preparing major crackdown on power plants that fuel nation's grid

- EPA planning to issue regulation that would limit emissions from fossil fuel power plants. Basically would require plants to shut down or install costly carbon capture facilities.

- Would drive up prices

- Is this being done in order to run on it in the next election?

China’s EV Love Affair Spells Doom for Gasoline

- Can China's "leek futuristic roadsters with hologram wheels" EVs and SUVs that promise "a range of 1,000 kilometers (620 miles) on a single charge" spell the end of gasoline?

- Can China maintain baseload energy for all these EVs? Does it want to control people's ability to charge their vehicle?

- Just because someone saw lots of sleek EVs at the Shanghai auto show doesn't mean that everyone is buying and using an EV and that the combustion engine is dead in China.

- Would think the same about America's auto industry if you watched the commercials from the Super Bowl, where every vehicle advertised was an EV.

Column: Oil buying slows amid renewed concerns about economy

- OPEC has been wrong before, but they aren't ALWAYS wrong.

- "But they remain more cautious on refined products owing to continued uncertainty about the outlook for the global economy and petroleum consumption."

- Will there be a global economic slowdown? Still could be.

- OPEC shocked the market with a cut last month but oil prices are only in the low $80s.

Exxon Mobil Eyes Potential Megadeal With Shale Driller Pioneer

- "held preliminary talks with Pioneer Natural Resources Co. about a possible acquisition of the U.S. fracking giant, as the oil major hunts for a blockbuster deal in the shale patch, according to people familiar with the matter."

- Pioneer really understands the permian

- XOM might be better at managing oil to gas ratio that has caused problems for Pioneer

- "Pioneer has some of the best assets in the Permian, according to analysts"

-"Pioneer, which only has operations in the Permian, produced an average of about 650,000 barrels of oil equivalent a day there in 2022"

Exxon Mobil Corporation (NYSE:XOM) insiders sold US$3.0m worth of stock suggesting impending weakness.

Energy Week
Energy Week
Ellen Wald and Ryan Ray discuss the week's events in energy, and what it all means to you.