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Quote of the day:

There are moments, above all on June evenings, when the lakes that hold our moons are sucked into the earth, and nothing is left but wine and the touch of a hand.

Charles Morgan

Spare Capacity? Not in the SPR

One interesting angle on spare capacity is that the Strategic Petroleum reserve is… broke. Politico: President Donald Trump pledged to replenish the nation’s Strategic Petroleum Reserve after the Biden administration sold nearly 200 million barrels of its stock — but that won’t be as simple as buying more oil. Energy Secretary Chris Wright told the House Energy and Commerce Subcommittee on Energy this week that SPR drawdowns under former President Joe Biden resulted in structural

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Paul Sankey June 13, 2025 9:26 AM
Energy Transition
Paul Sankey

Afternoon Vostok, Russia, and Muppets

Today, soon! Zoom Happy Hour: Russia expert Ron Smith Thursday, June 12h, 4PM ET. Ron has decades of in-Russia experience in finance and is now founding partner of Emerging Markets Oil & Gas Consulting Partners (EMOGCP). Registration Link – Click Here ~ In a recent note, I mentioned that I doubted Russian production capacity, and whether they really have 1mb/d of spare capacity, held back on OPEC+ cuts. Ron read the note and commented: “One subject to

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Paul Sankey June 12, 2025 3:03 PM
Energy Transition
Paul Sankey

Morning War and Peace, Crime and Punishment

Russia, on Happy Hour this Thursday. Ron Smith, Russia expert, 4pm Zoom. We could not publicize this event sooner, as Ron was on Jury Duty call up for yesterday and… trail collapsed. He is good to join. Ronald Smith is currently the founding partner of Emerging Markets Oil & Gas Consulting Partners (EMOGCP), which he established in 2020. He has 25 years’ experience in equity capital markets and the Russian oil and gas sector, including

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Paul Sankey June 10, 2025 9:48 AM
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