SL Advisors Talks Markets

Tellurian finally put its investors out of their misery, selling to Woodside for $1 per share. The 75% premium to the prior day’s close is only impressive because the stock has sunk so low to this point. Founder Charif Souki was never able to obtain financing for this LNG wannabe. In 2022 in one of […]

Press reports suggest President Biden will bow to the inevitable and withdraw from the election – the first time since Lyndon Johnson an eligible president has declined to run. Betting websites and financial markets have been pricing for a new Democrat candidate since the debate. Presidential candidate Kamala Harris is unlikely to fare much better, […]

As we head into earnings season, Kinder Morgan will as usual kick off the reports from midstream energy infrastructure. The appeal of pipelines has always been their predictable earnings underpinned by long term contracts. Earnings surprises have been rare for several quarters, except for Cheniere which regularly beats to the upside. Many investors continue to […]

BP’s 2024 Annual Outlook continues to navigate carefully the political minefield that faces any big energy company in making projections about energy consumption. They’ve simplified their scenarios – in 2022 Accelerated, Net Zero and New Momentum all sounded faintly hopeful and for the first two totally unrealistic. New Momentum was the scenario intended to present […]

The White House pause on LNG permits has impacted negotiations. Poten and Partners, a research firm, estimates that Sale Purchase Agreement (SPA) volumes are –15% in 1H24 versus a year ago. It’s hard to get buyers to commit to buying LNG from a new export terminal without certainty about when it’ll be constructed. Fortunately, last […]

93% of car trips are less than 25 miles, according to data from the Bureau of Transportation Statistics. The problem with EVs in America is with the other 7%. That’s where the range anxiety and charging infrastructure become an issue.   According to a recent survey from McKinsey, the US has among the least satisfied […]

This is the time of year when friends ask me if I’ll be celebrating July 4th, in a wry dig at the losing side of that war. As a transplanted Brit I have more to celebrate than most – I point out that had the War of Independence turned out differently, emigrating to the US […]

For those wondering how the election will affect the energy sector, Thursday’s presidential debate offered some clarification but also added some uncertainty. Following Biden’s stuttering performance, he’s a poor bet to return to the White House after November. It must be more likely than not that his party will find a way to dump him […]

Last week the Congressional Budget Office (CBO) released their latest ten year budget projection. It invariably makes for depressing, if unsurprising reading. Significant deterioration in our fiscal outlook is visible with every release. For example, in February we noted that one particular milestone, the year in which interest on the Federal debt exceeds $1TN, keeps […]

Cheniere Energy Inc (CEI) has come a long way since its founding by Charif Souki in 1996. Three decades ago the US looked likely to be an importer of Liquefied Natural Gas (LNG) as demand outgrew dwindling domestic production. CEI planned to meet the gap with LNG imports. By 2008 the company’s LNG import terminal […]