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24.09.26 - 18:57
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What T. Boone Pickens Would Ask About AI CapEx (ZeroHedge)
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What T. Boone Pickens Would Ask About AI CapEx
Authored by Patrick Feeley via Substack,
I keep waiting for someone in the AI discussion to talk like an owner. What we get instead is a week of model releases, token counts, and model-lab valuations that look like oil majors, while the harder questions about turbines, interconnect queues, and who answers for the spend sit offstage. That imbalance would have driven T. Boone Pickens up a wall.
Boone passed away in Dallas on September 11, 2019. He was 91. He grew up in Holdenville, Oklahoma, worked as a geologist at Phillips Petroleum, quit, and built Mesa Petroleum from a shoestring into a company that could force Gulf Oil into Chevron's arms. Later he ran an energy hedge fund out of Dallas and spent a decade trying to shove the country onto wind and natural gas before the transmission system could carry either. Two things always set him off. Soft managements that treated shareholders as a nuisance. And a national energy policy that treated import...
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24.09.26 - 15:57
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Biden-Nominated Judge Dismisses Michigan Case Accusing Oil Majors Of Suppressing Renewables (ZeroHedge)
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Biden-Nominated Judge Dismisses Michigan Case Accusing Oil Majors Of Suppressing Renewables
Authored by Owen Evans via The Epoch Times,
A federal judge dismissed an antitrust lawsuit in which Michigan accused four major oil companies of acting as a cartel to block renewable energy.
U.S. District Judge Jane Beckering in Grand Rapids on Tuesday rejected a lawsuit filed in January by Michigan Attorney General Dana Nessel, a Democrat, against BP, Chevron, Exxon, Shell, and the American Petroleum Institute.
Nessel claimed they caused Michigan residents to suffer "artificially high home and transportation energy costs."
She said that defendants acted "as a cartel in an unlawful conspiracy in restraint of trade to forestall meaningful competition from renewable energy in order to maintain their dominance in the transportation energy market and primary energy markets in Michigan and nationally in order to reap windfall, and illegal, profits."
The complaint said that the defendants' conspiracy "restra...
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24.09.26 - 12:01
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Diesel-Hammer aus dem Weißen Haus: Die Ölbranche schlägt Alarm (Ariva)
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Diesel kostet so viel wie nie, Trump will den Export stoppen. Chevron, Exxon Mobil und Valero greifen zum Telefon. Doch Widerspruch kommt ausgerechnet aus Trumps eigenem Kabinett. Die US-amerikanische Öl- und Gasindustrie macht mobil. Mit einer abgestimmten Lobbykampagne wollen die Konzerne ein mögliches Exportverbot für Diesel verhindern. Die Branche warnt: Handelsbeschränkungen würden die Spritpreise im eigenen Land weiter nach oben treiben. Das ......
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18.09.26 - 17:00
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Exxon Eyes Venezuela Return Nearly Two Decades After Nationalization Exit (ZeroHedge)
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Exxon Eyes Venezuela Return Nearly Two Decades After Nationalization Exit
ExxonMobil is negotiating a return to Venezuela's Orinoco Belt, eyeing the Petromonagas heavy-oil project and neighboring Carabobo assets, Reuters reported Wednesday, citing people familiar with the matter. No deal has been finalized, and Exxon and state oil company PDVSA did not immediately respond to Reuters.
Petromonagas also has a Russian state-owned shareholder - though it remains unclear how that existing interest would affect any transaction.
The talks follow months of caution from Exxon's leadership. In January, CEO Darren Woods called Venezuela "uninvestable" under its then-existing legal and commercial framework and sought durable investment protections before returning. Exxon and ConocoPhillips had departed following the nationalization of their projects, while Chevron remained through agreements with PDVSA.
The wave of re-entries followed the capture of then-president Nicolas Maduro in January an...
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