Energy Week

Episode 36 - Is Tesla going private? | Update on Iran | API’s Chief Economist, Dr. R. Dean Foreman


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Saudi, Inc.: The Arabian Kingdom's Pursuit of Profit and Power - https://amzn.to/2vMZLz8
Careers in the Oil & Gas Industry: A Guidebook of Practical Advice - https://amzn.to/2Bfj2hS


https://www.tesla.com/blog/update-taking-tesla-private?redirect=no
Is Tesla going private? Elon Musk says that the Saudi PIF may be funding a Tesla privatization at $420 a share but is everything on the up and up?

https://www.reuters.com/article/us-iran-khamenei-economy/irans-khamenei-rejects-trump-offer-of-talks-chides-government-over-economy-idUSKBN1KY0U1
Will there be talks between the US and Iran now that Khamenei has said "no talks with the US"
Impact of all the tariffs/economic wars being fought - does the US have too many balls in the air right now between China, the EU, Turkey, Iran, NAFTA?

https://seekingalpha.com/article/4198303-oil-iea-omr-confirms-june-storage-draw-q2-global-balances-weak
HFI research was bullish on oil before most other people
Notable H2 2018 refinery throughput higher, also Chinese demand - financial liquidity, new taxes on independent Chinese refineries, higher runs from state refiners

Interview with API Chief Economist Dr. Dean Foreman - https://www.api.org/
What makes API statistic different from others?
- administration industry surveys that survey about 85% of industry
- weekly statistical bulletin issues inventory report that can move the market
- API also puts weekly bulletins together into monthly estimates that can track trends, etc.
Notable aspects of upcoming Monthly report:
- remarkable progress on US crude oil exports
- US net imports lowest since 1950!
- strongest month for jet fuel demand on record
- reflects economic activity rather than airlines hedging
- oil prices heading to $90/barrel? Its a fool's game to try and predict prices for ahead
- Financials, fundamentals and geopolitics all play into oil prices
- EIA STEO shows makes basically in balance at this point
- Geopolitical issues matter less when huge stock cushion which we aren't really seeing now.

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