Jun
09
2020
Way back when I was in University, I used to play semi-pro squash. Pro, because I was paid. Semi, because it barely covered the travel. But it was the 90s so everything was better, obviously. Before hotels asked for ID to get room keys; before the internet was as full of content as it is now so you had to lock your TV down so your friends wouldn’t charge 24 hour packages; when you could still put people’s mattresses...
Jun
08
2020
Friday was an exceptional day in the oil and gas company stock market (not to be confused with the business of running an oil and gas company) and a lot of people were kicking themselves for not buying in March. “I knew we would recover” some said. “This is a cyclical industry, of course prices would come back” said others. Everything is great. Nothing to see here... or is there?
First, the catalysts. OPEC+ was expected to extend the 9.7...
Jun
07
2020
Join me as I talk to Chad Hathaway, Founder and CEO of Hathaway LLC, about the lost oil province in the United States... California. Growing up in Bakersfield and having oil in the blood leads to a unique perspective on regulatory standards, politics, and life. I learned a lot. I hope you do too! DRW
Episode 50! California oil and gas with CEO Chad Hathaway
https://youtu.be/uD6snP_YEk0
Podcast audio
Chad Hathaway official bio
CHAD HATHAWAY
Founder & CEO
Mr. Hathaway is the owner and founder of Hathaway...
Jun
05
2020
It is easy to be an armchair quarterback, but it doesn’t make it any less important. When “flatten the curve” was a thing (notice all the ads on the radio are now “stop the spread”), the #hottakeoftheday was focused on second order consequences. Food banks, unemployment, deglobalization, inconsistencies in data analysis and trade offs.
Here are some stats. 13.5 million Americans work in the restaurant industry. U.S. airlines support 10 million jobs and account for 7.3% of GDP. 1 in...
Jun
04
2020
Governor Polis,
Hundreds of cases????? Governor Polis, spare me. What a joke. Seriously.
“Hundreds of coronavirus cases”, assuming that everyone protesting isn’t morbidly obese, old, has cancer and generally is sheltering in place for their own protection MIGHT lead ... MIGHT LEAD to one death. 1. Not hospitals overrun. 1 death. And even that is high. Look at the stats. Look at the demographics of protesters. Now, put them together and realize that people under 50 are effectively 0% chance of...
Jun
04
2020
* UPDATE *
In case you missed it, DRW had a big mention from Brian Sullivan on air the following day on Twitter.
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Next week, I will be joining CNBC Worldwide Exchange Anchor & Senior National Correspondent Brian Sullivan for an in depth look at the oil market. We will discuss what happened, where it’s going and how you can trade it. This is an exclusive virtual event for CNBC PRO Members so if you’re not already a member you can try...
Jun
03
2020
DRW joins C6 Capital Holdings CEO - and frequent #hottakeoftheday guest - Mark Rossano for a broad discussion on Episode #1 of their "Conversations" on the Primary Vision Network.
Jun
03
2020
Yesterday, I watched Tucker Carlson and cried. Not a “Titanic... never let go, Rose you have to carry on” cry but a “rage watching images of my country on the brink of civil warfare” cry.
But the horror of the week (year/decade?) was what happened to George Floyd. The act was atrocious, despicable and the thug who did it needs to be tried to the fullest extent of the law. Hate crime? Sure looked like it.
That it now turns out...
Jun
02
2020
Some may describe me as cynical. Me? I prefer realistic. I look at data, and draw conclusions. Unlike me watching movies, science is not emotional. It doesn’t pick favorites, it doesn’t “let your child win”. It spits out an answer based on a process. What you do with that answer is entirely different. That’s why when I see the market trading over 3000, and everyone talking about a V-shaped recovery I raise an eyebrow and say “What you talkin’...
Jun
01
2020
Another quiet weekend on the energy front. The Primary Vision frac spread could came out (53, up 8), Baker Hughes rig count (321, down 18), the EIA 914 report (oil and gas production in March declines, which makes November 2019 the highest production month the US will ever have for oil and is before the rapid drops we will see through July, plus confirming that the EIA weekly estimate is about 300 mbo/d high, meaning around 2 mmbo/d is...