And now you know the backstory to the Broadway show, "Cabaret".
That'll put a floor under anything….
Giovanni Staunovo🛢
@staunovo
Today, the U.S. Department of Energy’s (DOE) Office of Petroleum Reserves announced that contracts have been awarded for the acquisition of 2.1 million barrels of U.S.-produced crude oil for the Strategic Petroleum Reserve (SPR), bringing the total to 3 million barrels for delivery to the Big Hill site. These contracts to deliver crude oil in February follow the Request for Proposal (RFP) that was announced on December 1, 2023.
#oott
https://energy.gov/ceser/articles/biden-harris-administration-continues-secure-good-deal-taxpayers-replenishment
1:19 PM · Dec 19, 2023
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Giovanni Staunovo🛢
@staunovo
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The U.S. bought 2.1 million barrels of crude oil, the Energy Department said, as it replenishes the Strategic Petroleum Reserve after the largest sale in history last year.
The department said it bought the oil for an average of $74.23 a barrel, well below the average of $95 a barrel that oil was sold for in 2022.
https://twitter.com/staunovo/status/1737190310784983211
$20 bucks on a "Short"? Not too shabby….
Ooooh, good one!
Jonathan McKernan
@JonMcKernan
We at the FDIC should consider a similar inquiry into big asset managers' influence over banks.
subscriber.politicopro.com
POLITICO Pro: FERC launches inquiry into investment company influence on utilities
https://subscriber.politicopro.com/article/2023/12/ferc-launches-inquiry-into-investment-company-influence-on-utilities-00132471
In particular, has any asset manager, through its ESG campaigns or otherwise, influenced a bank's underwriting or other policies to an extent it has "control" for purposes of the Change in Bank Control Act or Regulation O?
https://twitter.com/JonMcKernan/status/1737192336113705182