Managing Partner at SL Advisors, where we invest in energy infrastructure, and write about it. Retweets & links are not endorsements. Devoted Arsenal fan.
In 1982 to my eternal good fortune David Buik (
@truemagic68
) convinced his NY office to take on a young man starting out in Finance. David continues to pursue an illustrious career, representing every positive attribute of London's financial markets. We enjoyed a most convivial
I just learned today that Lockheed Martin has been in the Dow Jones Sustainability index for seven years. I love how flexible those ESG definitions are. If building weapons has virtue, pipelines are truly divine. $LMT
“Exxon made more money than God this year,” says President Joe Biden in response to a question about rising retail gasoline prices
(I’m lost for words)
#OOTT
Episode 50 of TCAF is out now on all podcast platforms! This week,
@Downtown
and
@michaelbatnick
are joined by
@SimonLack
!!!
Apple:
Spotify:
Google:
Go listen🎙️⏯️
Blackstone and Tallgrass Further Discredit the MLP Model
"It shouldn’t be the case that the asset managers who invest in companies like TGE adhere to higher ethical standards than the companies do themselves"
America is absurdly supplied with citizens whose professed passion for climate science is not matched by a desire to know anything about it, writes
@HolmanJenkins
via
@WSJ
Germany is at risk of wasting billions of euros on boosting liquefied natural gas imports instead of moving toward sustainable alternatives like energy efficiency, according to a new report
This is a useful interview with $WMB CEO Alan Armstrong by
@Allison_Good1
. "I don't recall a time in my years in executive management when the business has been this healthy but the equity markets so poorly reflecting that."
#investing
#markets
For the benefit of those with whom we haven’t recently chatted but are wondering why MLPs are so weak, we summarize our thoughts:
When Will MLPs Recover?
My wife's been teaching pre-K in person all year. Lots of precautions but no infections. Because they're not unionized. Teachers unions are a curse on society.
School reopening does not require testing asymptomatic kids
School reopening does not require 6ft of distance
School reopening does not require community transmission to be below some level
School reopening does not require vaccinations
Thank you for attending my TedTalk
The less money they invest the happier I am, as an investor. I'm sure many feel the same. Just run the business and cut that $1.7BN growth capex in half.
Colleges bear much of the responsibility for this. Tuition hikes way ahead of inflation every year and little care for earnings power of degrees that employers aren't seeking. Any debt forgiveness should involve the schools who received the tuition.
Student loan debt’s dominance as % of total debt burden persists as per
@NewYorkFed
’s most recent report … > $100 billion of student loan debt held by those > age 60
@business
@Equifax
At yesterday's Congressional hearing on the SPR,
1) I made the case that
@JoeBiden
endangered our security by depleting the SPR
2) Nobody even attempted to challenge my case
3) Dem leaders instead tried, and failed, to portray me as a White Supremacist
Here's every moment.
@EricBalchunas
I agree the random tests are overdoing it at this stage. But we visited last weekend, my daughter got the email for random test and we went to Shoppers Drug Mart. Didn’t take long but the negative test result came after we’d returned to US. Waste of everyone’s time.
U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning over Wall Street.
#OOTT
@LizHampton1986
Energy Transfer's Weak Governance Costs Them
"
...the CEOs of publicly traded partnerships are spectacularly unconstrained by the ethical standards followed by the people who buy their stock." $ET $TGE
Are you freakin’ kidding me?!
Biden Energy Secretary Jennifer Granholm Supports Requiring U.S. Military to Adopt All-Electric Vehicle Fleet by 2030
#gatewaypundit
via
@gatewaypundit
Give an oilman a $, he'll drill. Give a pipeline exec a $, he'll build a pipeline. Listen to our podcast on capital discipline in midstream energy infrastructure.
Democrats have improbably been great for energy investors. They’re dissuading investments in new production and infrastructure, causing higher prices. Energy Realism Is Spreading
I'm still shocked at how much freedom we've lost, for many months now. Those in hospital are generally in a well defined demographic. If we applied restrictions to the vulnerable, the rest of us could get on with life and not wreck so many businesses.
In San Francisco, it is illegal to come within 6 feet of anyone not in the same household for social reasons. Even masked. Even outside. Even masked AND outside.
So, traditional sex is a crime if the lovers don’t live together. How does anyone find this to be acceptable?
Tallgrass Responds to Critics, Missing the Point
MLP investors now have to consider the possibility of management crafting lucrative deals for themselves, a risk typically not present with conventional corporations because of tighter governance.
$BPL acquisition shows that if you manage your assets badly enough someone will rescue your poor stockholders. Good to see additional capital entering sector.
The Texas RRC isn't competent to regulate flaring in Texas because they approve every permit. They're diluting the great promise of
#natgas
as a solution to global warming. They need some oversight.
A member of the Texas Railroad Commission (which obviously regulates oil and gas and not trains) defended the agency's practice of granting flaring permits and called proposals for a frack ban a "political ploy" in an interview with
@adsteel
Climate policies fail because they make climate risk a higher priority than lifting people out of energy poverty.
No developing country will agree to stay poor.
That doesn't work.
Until the world realizes this obvious fact climate policies will fail.
Abandoning critical
#infrastructure
projects, especially those related to
#natgas
, would only exacerbate the
#energy
crisis created by combination of increasing global demand, insufficient investment in traditional energy sources & geopolitical conflict."
@rogbennett
Loved your book. Moved here from Essex in 1982 aged 19, identified with much of your UK experience although my social life was a bit tamer lol. Very enjoyable, love Men in Blazers too. Keep up the good work!
The United Kingdom has dropped ALL COVID entry requirements as has Norway, Sweden, Denmark, Switzerland and many others.
The US test requirement is an expensive waste of time and effort. Time to end it. Now.
Good view on pipeline secttor but poor advice to buy $AMLP which has delivered less than half its index since 2010. Readers deserve better advice. Shallow research. Sad.
Folks, apply for student loan debt relief today.
No forms.
No special log-in.
It’s available in English and Spanish – and on desktop and mobile.
And it'll take you less than 5 minutes.
An NYU student who tore down posters of Israeli hostages complains that she's been suspended from school, had her scholarship rescinded, and will be kicked out of campus dorms next semester.
Florida law now officially prohibits injecting sexuality and gender ideology into elementary school curriculum.
In Florida, we will protect our kids and support our parents.
Yes, energy infrastructure stocks will gain investor support by showing more discipline on capital allocation. $ET buy back your stock with 16% DCF yield, best investment around.
#oott
The U.S. should withdraw its protection of Saudi oil facilities
from Iran. No longer seems to be needed. The market could cope with a sudden loss of supply.
An estimated 17,300 children younger than 15 die every day because of insufficient access to energy. The moral high ground is solidly occupied by those engaged in providing more energy to poor countries, including investors in $WMB.
This is really terrible reporting. The IPCC summary suggests we've warmed the planet by 1 Degree above pre-industrial and another 0.5 is likely by 2030-52. Media reports like this and
@nytimes
make it sound like another 1.5 in next 20 years is likely.
Urgent fact check for
@Twitter
: Your official "Here's what you need to know" say: "UN scientists found that temperatures on Earth will rise by about 1.5C in around two decades."
No, the report predicts that in two decades there will be a *total rise of 1.5C since the 1800s*.
According to the
@WSJ
, the Biden administration is preparing to scale down sanctions on Venezuela’s authoritarian regime to allow Chevron to resume pumping oil there |
#OOTT
#Venezuela
"AMLP is not a reasonable proxy for midstream exposure. Advisors and consultants who choose that easy but poorly constructed and inefficient ETF do a disservice to their clients."
Well put by
@MLPguy
My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril.
Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.
When $KMI brags about the visibility of future div growth, they should explain why this is more reliable than similar promises in 2014 which were followed by HUGE cut. Bit of humility needed.
#investing
@Kinder_Morgan
PAA distribution cut 50%, but capex for 2020 and 2021 cut 33%, 47% if you count JV projects...PAA highlights liquidity of $2.5bn and $165mm asset sale that closed 4/1...
Will still yield double digits, stock should trade up
#posituesday
“Save the Trees!” Unless We’re Talking Solar Farms, That Is . 6,000 acres of trees removed to build a solar farm. Is that part of the
#greennewdeal
?
#natgas
A new bill passed by the Texas legislature would punish oil pipeline protesters who interrupt operations or damage equipment with up to 10 years in prison via
@racheladhe
Skyrocketing natural gas and coal prices are not a failure of the fossil fuel industry, but the total failure of *anti-fossil fuel policies*, which falsely promised that if we dramatically restricted fossil fuel energy production, green energy could easily replace it.
THREAD
Dumb energy policies have restricted
#natgas
pipelines New England power producers are preparing for potential strain on the grid as a surge in natural-gas demand abroad threatens to reduce supplies they need to generate electricity
IEA has incoherent view. Urges no new investment to support energy transition, and now urging more output.
#clueless
Oil demand to surpass pre-pandemic levels by end of 2022, says IEA via
@financialtimes
$WMB and $ENB concluding MLPs no longer meet their needs. MLPs are going away, which won't hurt investors in corpoations but creates more problems for MLP-dedicated funds such as $AMLP
Early on, I announced a plan to provide over 40 million working- and middle-class Americans with student debt relief.
Republican elected officials and special interests sued us. And the Supreme Court blocked us.
That didn't stop me from finding an alternative path to relief.