William Lacey @WilliamLaceyYYC Twitter profile

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William Lacey

3 months

This is one of my favourite times of the year for data, all thanks to the @EnergyInstitute . I have put together some summary slides on global energy data for your review, now up to '23. A short🧵 @anasalhajji @Rory_Johnston @michael___tran @ArjunNMurti @ericnuttall @CornerstoneOil

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William Lacey

@WilliamLaceyYYC

6 months

Rumours of wealth taxes, changes in capital gains taxes & potentially a tax on excess profits targeting sectors like oil and gas. Now that's a way to instill investor confidence & stability in markets! Keep it up @liberal_party , next floor is the basement.

Experts predict tax hikes in budget as Trudeau government stretches to pay for its promises | CBC...

Economists and experts say they're expecting the federal government to raise taxes in Tuesday's budget to help offset billions of dollars in new spending already promised in the pre-budget announce...

www.cbc.ca

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William Lacey

@WilliamLaceyYYC

10 months

So, I'm bored. I thought I would take a look at global electrical systems and what "net zero" actually means were you to focus on wind / solar. A short 🧵

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William Lacey

@WilliamLaceyYYC

2 years

As the @POTUS mulls a windfall tax on E&P companies, let's take a quick look at the biggest E&P @exxonmobil and the biggest tech company @Apple in the USA. Funny how one is the focus of all the negative attention, and yet is the company that is actually needed. #COM #EFT #OOTT

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William Lacey

@WilliamLaceyYYC

2 years

When looking at oil, demand is important, but so too is supply. Morgan Stanley looking for Brent to go to US$130/bbl by Q3

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William Lacey

@WilliamLaceyYYC

1 year

I was shocked to learn of the passing of @SadBillAckman . Never take anything for granted. Remember, it is OK to ask for help and to say you are hurting. I will always offer an ear if you need someone to talk to. Take care of each other. #COM #EFT #OOTT

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William Lacey

@WilliamLaceyYYC

1 year

What a crazy world we live in when one of these is good and the other one is evil. #COM

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William Lacey

@WilliamLaceyYYC

1 year

Nord Stream- gone. Nuclear Power- gone. 🇩🇪 has gone from a leading industrial powerhouse based on cheap and reliable energy to one where unreliable power and a complete reliance on imports (LNG) dictate their future. Good luck with that; you will fail #COM

Germany ends nuclear energy era as last reactors power down

Germany’s nuclear exit was delayed to this year after Moscow’s invasion of Ukraine wreaked havoc in energy markets.

www.aljazeera.com

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William Lacey

@WilliamLaceyYYC

2 years

Whenever @michael___tran talks, I listen. Some very salient points on recent movements (lower) in the oil markets. Weeks like this are never easy to be invested in. #COM #EFT #OOTT

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William Lacey

@WilliamLaceyYYC

2 years

Riddle me this. If biofuels are increasingly a “future fuel” and food crops like canola are part of the solution, yet the government wants to reduce the use of fertilizers in their production (and therefore yields), am I the only one who sees a problem with this future?

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William Lacey

@WilliamLaceyYYC

11 months

I’m no separatist but the @liberal_party certainly is pushing me this way. Could someone please tell me one thing the West gets out of this arrangement other than nostalgia? I’m getting sick of how @JustinTrudeau is purposefully dividing this country.

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William Lacey

@WilliamLaceyYYC

3 years

@caj @MercedesGlobal @EvanLSolomon @glen_mcgregor @Songstress28 @R_SPatel Here's a start. How about reporting the NEWS and not your OPINION. It is why I no longer watch / listen to the news, because of the wild bias infused into everything.

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William Lacey

@WilliamLaceyYYC

10 months

There was a news article out today stating that 22 nations pledge to triple nuclear generation capacity by 2050 at #COP28 . I thought I would do a little digging to try and understand what this means. A short🧵 #uranium #energy #EnergyTransition #nuclear

COP28: 22 nations pledge to triple nuclear generation capacity by 2050

Triple from 390 GW 2020 base Includes SMRs, advanced reactors Hydrogen, synthetic fuels applications A pledge to triple nuclear generation capacity by 2050 from a base year of 2020 was signed Dec.

www.spglobal.com

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William Lacey

@WilliamLaceyYYC

3 years

The FX market is voting against Canada and its economic outlook. Without the export trade balance of oil, we would be in an even worse place. The winner? Canadian energy - high oil and high FX - an inflation and political hedge @MPelletierCIO @chigrl @Josh_Young_1 @YETICapital99

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William Lacey

@WilliamLaceyYYC

3 years

Oil is up US$10/bbl AND the CAD is weakening versus the USD. This is not normal and should concern people. In "normal" times we should be close to par. This market makes me very nervous @MPelletierCIO @chigrl

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William Lacey

@WilliamLaceyYYC

2 years

This. Eight Capital boosting energy target prices by ~50%, and running with US$125/Bbl & US$120/Bbl (Brent / WTI) in 2022 and US$130/Bbl & $125/Bbl in 2023. $CVE.TO $MEG.TO $BIR.TO $SDE.TO $IPO.TO $TVE.TO $GTE.TO $TAL.TO #COM

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William Lacey

@WilliamLaceyYYC

10 months

For Wind Power you can see that all of the assets that are currently installed would need to theoretically be replaced before we hit the targeted window of 2050.

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William Lacey

@WilliamLaceyYYC

4 months

“Remember Harper!” they cry. I do, and I miss him. Balanced budgets, international respect, hope for the future. What a privledge to listen to him tonight.. @FraserInstitute

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William Lacey

@WilliamLaceyYYC

2 years

4 companies contributed $30bn to the economy in terms of corporate cash taxes ($11 bn) & resource royalties ($19 bn) in '22. Thank you @CanadianNatural @cenovus @ImperialOil and @Suncor . @ericnuttall @MPelletierCIO @Rory_Johnston @ArjunNMurti @UrbanKaoboy @Josh_Young_1 #COM

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William Lacey

@WilliamLaceyYYC

5 months

Did you know that 90% of Canadian federal #taxes paid in 2021 were by just 37% of the filers? You know how you create a stronger economy? Hint - not more taxes. Lift that 63% up into the higher tax brackets through better jobs, more private sector investment.

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William Lacey

@WilliamLaceyYYC

3 years

@RachelNotley Seriously, politicians need to stop playing stupid games, on all sides. It is why were are where we are. Tax revenue is up because revenues are up. Period. There was no tax increase, rather the economy is finding its legs again. Let's be intellectually honest

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William Lacey

@WilliamLaceyYYC

6 months

As people cry out to "tax energy companies" and their "excess profits" while our federal government continues to pile up the debt and deficits, let me point out the contributions of the big 4 energy companies versus the TSX top 8 companies by market cap.

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William Lacey

@WilliamLaceyYYC

9 months

As I get ready to literally bury my head in the sand, I thought I would take a quick look at global oil macro data and lay out a few charts that are directionally in line with the great work @cslubicki has done in the past. A short 🧵

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William Lacey

@WilliamLaceyYYC

2 years

A quick snapshot of where shareholder focused (debt repayment/share buybacks/common dividends) cash flows are going within Canadian E&Ps YTD. $MEG.TO crushing debt, $IMO.TO crushing shares and $TOU.TO drowning investors in dividends #COM @ericnuttall @Josh_Young_1 @MPelletierCIO

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William Lacey

@WilliamLaceyYYC

6 months

So, massive subsidies for battery facilities in Ontario and Quebec are OK, automotive plants in Ontario are fair game, but #LNG is a bridge too far? Governments should not be in the subsidy business but if they choose to, they shouldn’t be picking industry winners and losers

Giovanni Staunovo🛢

@staunovo

6 months

#Canada 'not interested' in investing in LNG facilities, energy minister says

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William Lacey

@WilliamLaceyYYC

3 years

Windfall Profits Tax More and more we are hearing politicians the likes of @SenWarren shrill from the pulpit that there is “…no excuse for large oil companies to pad their bottom line with war-fueled profits.” 🧵

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William Lacey

@WilliamLaceyYYC

1 year

Anyone old enough to remember these? Good times, lots of competition and it was ruthless. Today? Not a chance you could do this. Goals. Challenges. Failure. Suck it up and try harder. We need to bring things like this back. Your health is your biggest investment. Protect it.

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William Lacey

@WilliamLaceyYYC

2 years

Another gem by @michael___tran , this time on US gasoline demand. "In short, pump prices have hit record highs this year, but demand remains sticky and relatively inelastic." #COM @Rory_Johnston @chigrl @ericnuttall @Josh_Young_1

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William Lacey

@WilliamLaceyYYC

2 years

I will take @michael___tran and his 60 seconds and distill it to 30. He is one of the smartest in the biz, so take heed and listen to what he has to say. #COM

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William Lacey

@WilliamLaceyYYC

8 months

From the President of @Siemens_Energy “If you want to have cheap energy, you need to be gas fired. That’s the cheapest way, the most secure way if you calculate the whole thing, from the beginning to the end.” This should make some heads explode.

Energy bills must rise to pay for net zero, says Siemens Energy boss

Interview: Joe Kaeser says ‘a lot of big mouths but little action’ pushing wind turbine makers into the red

www.telegraph.co.uk

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William Lacey

@WilliamLaceyYYC

2 years

A quick update on share buybacks for the month of July in the Canadian listed E&P space #COM

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William Lacey

@WilliamLaceyYYC

2 years

A reminder to every oil and gas executive as you start to look at your '23 budget planning sessions. #COM

RNC Research

@RNCResearch

2 years

Biden Treasury Secretary Janet Yellen: Under Biden's plan, we will “rid ourselves” of oil and gas.

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William Lacey

@WilliamLaceyYYC

5 months

This genuinely makes me sad. Rex was a legend in Canada with his acerbic whit and his brutally honest assessment of the landscape. Today the country has lost one of the good guys, and regardless of your political leanings, raise a toast to him tonight

Rex Murphy, the sharp-witted intellectual who loved Canada, dies at 77

nationalpost.com

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William Lacey

@WilliamLaceyYYC

8 months

It’s happening….hopefully. I was out with a natural gas producer last night, who will remain nameless, who noted they are in the process of shutting in ~1/3 of gas volumes because producing it now is stupid, and not economic. The signals are registering.

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William Lacey

@WilliamLaceyYYC

2 years

In H1 '22 $CNQ $CVE $IMO $SU paid more royalties than '17-'21 H1 combined. There already is a "windfall tax" and it's called a sliding royalty (and post-payout royalties). Almost $11bn in H1 alone and growing. #COM @Rory_Johnston @ericnuttall @Josh_Young_1 @chigrl @MPelletierCIO

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William Lacey

@WilliamLaceyYYC

2 years

I've talked about the massive contribution that the CDN E&P space makes to governments, but Peters & Co. put this into a national context. This sector is so incredibly important to the Canadian economy. #COM @ericnuttall @Josh_Young_1 @Rory_Johnston @CornerstoneOil @MPelletierCIO

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William Lacey

@WilliamLaceyYYC

2 years

BMO saying "don't worry, be happy" when it comes to energy prices. #COM

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William Lacey

@WilliamLaceyYYC

3 years

Actions. Consequences. As the rhetoric ramps up and people cry out that the oil and gas sector has profited from this terrible conflict and that they do not care about the little guy, I say this...

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William Lacey

@WilliamLaceyYYC

10 months

Since @cafreeland won't answer the question I will lay out the data. Canada's GDP per capita vs. the US is at its worst level ever, with Canada lagging by US$27K/person & on a % basis is the same as during the '98-'02 (Asian/Russian financial crisis, global recession) timeframe

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William Lacey

@WilliamLaceyYYC

2 years

On global oil decline rates, there is no way they are 5-7%. If US shale represents 10% of global supply and shale decline is 30% (very conservative) then 0.1x0.3=3%. So, the rest of the world declines 2-4%? Seriously? #COM @ericnuttall @Josh_Young_1 @CornerstoneOil @Rory_Johnston

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William Lacey

@WilliamLaceyYYC

3 years

Energy is life. As a result of things like energy density (energy stored in a given system or region of space per unit volume) hydrocarbons are a dominant form of energy in our lives, not just today but I believe in the future as well. A 🧵...

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William Lacey

@WilliamLaceyYYC

1 year

I am a big fan of a number of a number of small and mid-cap oil weighted producers such as $WCP.TO and $MEG.TO but I have to say that $HWX.TO really stands out from the crowd. Focused play (Clearwater), high yield (6.1%) and no debt. #COM

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William Lacey

@WilliamLaceyYYC

6 months

Proud dad moment

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William Lacey

@WilliamLaceyYYC

1 year

Behold the man of the people, our very own @theJagmeetSingh . He fights for the common man and vows to beat inflation! Turn down the heat and put on your @canadagoose coats, be punctual with your @ROLEX watch and get to places in comfort in your @BMWUSA . He is our defender.

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William Lacey

@WilliamLaceyYYC

2 years

Some insightful commentary from one of the best in the business. #COM

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William Lacey

@WilliamLaceyYYC

2 years

A trip to Ottawa to celebrate a life well lived. Congratulations dad, well deserved!

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William Lacey

@WilliamLaceyYYC

2 years

I can do heroin, cocaine or a host of other serious drugs in Vancouver without fear of arrest, but if I want to be a real bad ass I will pull out these bad boys. Hey…buddy…want a #plasticstraw ? #canada #PlasticBan

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William Lacey

@WilliamLaceyYYC

2 years

OK energy companies, take your cue from $STLC.TO - they just announced a substantial issuer bid for up to 43% of their stock. If you aren't being valued properly, take advantage of that mispricing. @ericnuttall @CornerstoneOil @Rory_Johnston @chigrl #COM

Stelco Holdings Inc. Announces Intention to Commence Substantial Issuer Bid

Stelco Holdings Inc. (TSX: STLC) (“Stelco” or the “Company”) announced today its intention to commence a substantial issuer bid (the “Offer”) pursuant

www.businesswire.com

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William Lacey

@WilliamLaceyYYC

2 years

This. On March 23, 2020 $CVE.TO was $2.35 per share. A strong commodity tape and management remaining laser focused on cost structures and capital repayment resulted in a Q1 that returned almost 100% of that low trade in a single day. Kudos to the team for a job well done! #COM

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William Lacey

@WilliamLaceyYYC

2 years

Some insights from one of the most connected people in the geopolitical world as it pertains to oil, @CroftHelima , on the upcoming OPEC+ meeting and what to expect. #COM @ericnuttall @Josh_Young_1 @chigrl @MPelletierCIO

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William Lacey

@WilliamLaceyYYC

1 year

A surprise OPEC supply cut seems as good a reason as any for a big standing rib roast and a beautiful Cabernet Sauvignon (and it’s my father-in-laws 93rd birthday). Here’s hoping next week is a banger! #COM

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William Lacey

@WilliamLaceyYYC

2 years

Having worked in the energy sector for over 25 years in either investment banking or as a corporate the one thing I can say with confidence is that anyone who “knows” what will happen in the future is either delusional or a fraud. Volatility & unpredictability are a constant #COM

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William Lacey

@WilliamLaceyYYC

2 years

For those calling to tax "corporate greed" from the E&P sector, the Big 4 companies YTD have paid $25bn (+203%) in corporate taxes & royalties. #EFT #OOTT #COM @CanadianNatural @cenovus @ImperialOil @Suncor @MPelletierCIO @Rory_Johnston @ericnuttall @CornerstoneOil @Josh_Young_1

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William Lacey

@WilliamLaceyYYC

2 months

Despite the malaise that hangs over the 🇨🇦 energy sector, I would like to highlight that the Big 4 ( $CNQ, $CVE, $IMO and $SU) paid a total of $11.4 bn in royalties ($7.3 bn) and cash taxes ($4.1 bn) in H1 '24, up $3.4 bn from the year prior.

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William Lacey

@WilliamLaceyYYC

10 months

Needless to say, the challenges in front of the world to meet these mandates is going to be a massive challenge, #nuclear needs to be a core part of the discussion, and (my opinion) natural gas needs to remain a core part of the grid going forward,

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William Lacey

@WilliamLaceyYYC

9 months

So why do I post these thematics? To get people to think. Energy transition and energy poverty are real topics and need thoughtful conversations, not hyperbole and radical agendas. Working together and looking at all energy sources is both necessary and thoughtful. Happy 2024!

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William Lacey

@WilliamLaceyYYC

3 years

How do you like your energy poverty served? Buy Canadian energy stocks. A hedge on bad politics. @MPelletierCIO @Josh_Young_1 @chigrl @DoombergT

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William Lacey

@WilliamLaceyYYC

3 years

Best comment I heard today. Gas stations should post the price of gasoline at their station pre-taxes. Then, when people go to pay, they layer on all the taxes. That will enlighten the masses. #COM @MPelletierCIO @chigrl

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William Lacey

@WilliamLaceyYYC

1 year

The latest version of the global statistical energy review is out and I have put together my summary of it, courtesy of the @EnergyInstitute who picked up the ball on this. A long 🧵. #COM #EFT #OOTT @Rory_Johnston @CornerstoneOil @ArjunNMurti @chigrl @ericnuttall @MPelletierCIO

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William Lacey

@WilliamLaceyYYC

2 years

When Canadians complain about the profits of the energy sector (never mind 2015-2020 when many were dancing in the streets) I will note that the senior E&P's paid almost $18bn in taxes and royalties in H1 '22 - that's almost $500 for every person in Canada. Think about that #COM

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William Lacey

@WilliamLaceyYYC

7 months

The tone deaf nature of @JustinTrudeau is quite remarkable. Not only has he shut down multiple investigations, he has formed a "majority" through his alliance with the @NDP and advanced policies that he was not elected on. Now that's democracy for you.

Disclose.tv

@disclosetv

7 months

NOW - Trudeau: "In every democracy around the world, we are seeing a rising movements of either authoritarian populism or skepticism about democracy itself."

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William Lacey

@WilliamLaceyYYC

8 months

Lock me up! 😂 @CanadaAction @CharlieAngusNDP

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William Lacey

@WilliamLaceyYYC

1 year

A guy I know just returned from Singapore and told me how the cab driver was laughing so hard when he heard he was from Canada. “You guys have so much oil, you cannot build pipelines. You cannot sell your resources.” It seems everyone knows except central Canada. #COM

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William Lacey

@WilliamLaceyYYC

2 years

Germany may overload electric system as people buy electric heaters to reduce use of gas. Sadly people don’t understand that electricity doesn’t come from a plug, gasoline from a pump, nor food from a store. Ignorance of supply systems is profound. #COM

Germans switch to costly fan heaters as gas shortage fears bite

Germans could overload their power grid as they switch to inefficient electric heaters in an attempt to avoid gas shortages this winter, utilities warned in an article published on Sunday.

www.reuters.com

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William Lacey

@WilliamLaceyYYC

2 years

ATB initiates coverage of Athabasca Oil Corp. ($ATH.TO) with a $3.75/sh target and Outperform rating #COM

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William Lacey

@WilliamLaceyYYC

2 years

What’s the upside of Calgary losing? Any Canadian wanting to cheer for a Canadian team has to cheer for something starting with oil. #progress #COM

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William Lacey

@WilliamLaceyYYC

5 months

Rex was a champion of the Canadian energy sector and he wore the pin I gave to him with great pride. We lost a tremendous advocate for the sector and for Canada. @CanadaAction

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William Lacey

@WilliamLaceyYYC

2 years

How do I look at energy investing? I don't need $100/bbl to make these names make sense. That is just gasoline to the fire in terms of the acceleration of shareholder returns. 6 years in purgatory made these businesses profit centers in materially lowerer price environments #COM

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William Lacey

@WilliamLaceyYYC

2 years

Scotia bumping $VET.TO target price higher to $40, notes FCF yield of 58% in '23 on strip pricing. #COM

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William Lacey

@WilliamLaceyYYC

2 years

Interesting how the PM says that Alberta is "hesitating around investing in anything related to climate change." Fun fact, Alberta was the FIRST province to implement an output based pricing mechanism (2007) on carbon (perhaps he would like to read the GoC website). #COM #OOTT

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William Lacey

@WilliamLaceyYYC

3 years

Maybe Canada will wake up. “We will still need oil and gas for years to come… I prefer that oil is produced by countries… like Canada who want to reduce the emissions of oil and gas.” @JustinTrudeau

International Recognition: IEA Boss Prefers Oil and Gas from Canada - Canadian Energy News, Top...

Producers building a competitive advantage with ESG performance By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The...

energynow.ca

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William Lacey

@WilliamLaceyYYC

1 month

I think this will be my last week on X. If you want me to stay in touch DM me your email. Thank you for your support and try to play nice - life is too short.

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William Lacey

@WilliamLaceyYYC

2 years

Implementation of systems that continually undercut a key industry ultimately leads to a system of rising taxes, declining lifestyles, energy poverty and unrest. Wake up Canada before it is too late. #COM

Feds propose to cap oil, gas emissions using industry-specific carbon pricing system

The federal government is proposing to use an industry-specific cap-and-trade system or a modified carbon pricing system to set a ceiling for emissions from the oil and gas sector and drive them down...

www.ctvnews.ca

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William Lacey

@WilliamLaceyYYC

10 months

I am no expert on markets, despite being involved in them for my entire adult life, however when you tend to see peak negativity (ie: everyone’s commentary is negative) we are often nearing a bottom.

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William Lacey

@WilliamLaceyYYC

1 year

Not bad for an old guy #COM

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William Lacey

@WilliamLaceyYYC

3 years

I am very concerned that a) the carbon tax rate boost will happen, b) the PM will double down on decarbonization and c) will go after Canadian energy producers. I think he will look at this as his opportunity to become the global climate czar. We need people to speak up, now.

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William Lacey

@WilliamLaceyYYC

1 year

Memories of @SadBillAckman - this one cuts close to the bone. Be good to people. Call a friend. Ask the question "is everything OK." There are no wrong answers on this one. #mentalhealth

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William Lacey

@WilliamLaceyYYC

9 months

I’ll say it again. The worst enemy of the oil and gas industry is the oil and gas industry. We continually cut off our proverbial nose (grow output) to spite our face (prices). We don’t deserve better.

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William Lacey

@WilliamLaceyYYC

2 years

This. The O&G sector is trading at 2x DACF (probably less today) in '23 and with the FCF within the businesses, the market is saying that it is broken. Find a debt provider, hedge next 2 years, and take yourself private because Mr. Market doesn't care about you. #COM

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William Lacey

@WilliamLaceyYYC

11 months

An update on the contributions from Canada's 4 largest energy companies. YTD total cash taxes and royalties paid has been ~$15.4bn, a decline of ~38% from '22, driven by declines in commodity prices. Thank you @CanadianNatural @Suncor @cenovus and @ImperialOil .

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William Lacey

@WilliamLaceyYYC

2 years

$MEG.TO results out and showed CFPS of $1.87 (consensus $1.81) and production of 101mbpd (in line) and FCF of $499mm. 25% of FCF to go to share buybacks and forecast to accelerate to 50% in Q3 '21. Once hit debt target of $600mm (H2 '23), 100% of FCF to shareholders. #COM

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William Lacey

@WilliamLaceyYYC

2 years

A quick primer to contextualize what the announcement by the Government of Canada that the oil and gas sector needs to reduce its CO2 emissions by 2030 actually means. A short 🧵

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William Lacey

@WilliamLaceyYYC

2 years

Using the 2030 targets, you need to reduce emissions intensity by 38% to stay flat or you need to cut production by 3mm boed. Energy security has a price and Canada is a leader in environmental practices. This proposed legislation is insanity. @Rory_Johnston @chigrl

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William Lacey

@WilliamLaceyYYC

2 years

How do you like your Canadian energy stocks served? I will take mine with US$105/bbl and a side of $1.30 CAD/USD, thanks. Cash flow machines, shareholder rewards. Got oil? #COM

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William Lacey

@WilliamLaceyYYC

8 months

Canaccord initiates on @AtomicCorp $GLO with a $4.75/sh target, with a view to increasing target by $1/sh following upcoming feasibility study in Q1. #uranium

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William Lacey

@WilliamLaceyYYC

6 months

It could have been worse. Simple math - a $1mm capital gain went from $250k of #tax to $310k of tax. Honestly, this #Budget2024 feels pretty inert compared to the fears beforehand. I would hope for a bit of a rally in #energy stocks tomorrow if commodities hold in.

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William Lacey

@WilliamLaceyYYC

2 years

So British Columbia won't enforce Federal laws for the possession of cocaine, heroin etc., which is a Federal law. In other words, the @bcndp government is OK with not following Federal laws when it suits them. And Alberta is the bad guy... #canada #politics

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William Lacey

@WilliamLaceyYYC

6 months

@Teddy_20 Incredible class - all athletes, men and women, can take a page from this press conference. Recognize the fact that it took a great many people to lift you up to where you are today. Humility is a superpower.

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William Lacey

@WilliamLaceyYYC

5 months

So, if we look specifically at the G7, we are dead last in terms of GDP growth per capita. In fact, we are not expected to get back to 2022 levels until...wait for it...2029. Even normalizing to 2024, we are DFL.

Martin Pelletier

@MPelletierCIO

5 months

GDP per capita has shrunk for 18 consecutive months. Canadians are poorer by $4,200 per person since 2015. And our leader says the following and thinks we’re the best in the G7. This is what scares me.

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William Lacey

@WilliamLaceyYYC

2 years

Is it me or does ESG stand for Enrich the Soviet Government? #COM

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William Lacey

@WilliamLaceyYYC

2 years

If there is one slide to commit to memory on $TOU.TO it is this. Remember that they have ~800 mmcfd hedged (as of Q3), they have significant sales exposure to the west coast (+) and are ~20% liquids. Times like now is when they thrive #COM @JamieHeard5

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William Lacey

@WilliamLaceyYYC

8 months

Live view of @JustinTrudeau and the @liberal_party with Canadian taxpayer money. To every politician - it’s MY money not YOURS.

National Post

@nationalpost

9 months

Average pay for public service executives increased by over $500 million since 2015

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William Lacey

@WilliamLaceyYYC

6 months

For those that love per capita emissions as a way to beat on Alberta, we are 0.06% of the globe yet produce ~5% of the oil and that represents ~1.5% of total energy supply, and produce ~2% of the natural gas which is ~0.5% of total global energy supply. We punch above our weight.

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William Lacey

@WilliamLaceyYYC

2 years

A short 🧵on global energy consumption and energy mix. With the exception of 2009 (financial crisis) and 2020 (COVID), absolute energy consumption has essentially been flat (1980's recession had modest decline) or increased every year since 1965.

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William Lacey

@WilliamLaceyYYC

7 months

My overly simplistic look at the EV tax Alberta has announced. The average kms driven is 15,200/yr, the Alberta gas tax is 9-14 cents/litre l. At 11 litre/100km, this implies missed taxes of $150-230/yr, not accounting for weight like on like (+20-30%). $200/yr seems fair to me.

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William Lacey

@WilliamLaceyYYC

1 year

Cheers @SadBillAckman . Rest well, you will be missed. #COM #EFT #OOTT

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William Lacey

@WilliamLaceyYYC

3 months

3 meals a day and an hour of fitness sounds quite lovely #C59

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William Lacey

@WilliamLaceyYYC

2 years

Come on @StatCan_eng , do better. There is absolutely no way inflation is 6.7%. Just one of many examples - this same 2 dozen eggs were $8.99 less than a year ago, and were $11.49 just one month ago. Ask anyone, and they would easily peg inflation at 10-15%, and that is generous.

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William Lacey

@WilliamLaceyYYC

10 months

If there is one thing I have learned working in the oil and gas industry it is that the cheapest resources are the ones that you have already found & that the best resources are often the ones that are already in production...and they deplete. This seems like a very bullish setup

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William Lacey

@WilliamLaceyYYC

2 years

For all you goobers who bid up $TOU.TO expecting a special dividend and are now dumping it, stay away. This is a real company, not some pump and dump crapco. This is a Buffet-like investment; patience will pay big dividends as we go forward #COM @JamieHeard5

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William Lacey

@WilliamLaceyYYC

4 months

When your lending rate for 3 years is just 50 bps above the @Canada rate for a similar term, this is the ultimate flex. Well done #TeamMike and @TourmalineOil

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