@respeculator Steel pipe inflation / prices are a big problem for oil drillers as well. Inflation is underreported. Drilling costs are exploding. Good luck with Taroom and Betaloo basins.
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Alex Beer
3.8K posts
Alex Beer
@beerzy99
Disclaimer: Opinions are my own. All information provided is of a general nature. Before making any investment decision, you should consult your adviser.
Perth, Western Australia Katılım Aralık 2008
678 Takip Edilen675 Takipçiler
There it is.... 🤮🤮... inflation in the mining space (in the West) at least appears to be running at nearly double digits... at least they can borrow at mid single digits tho #S32
Respeculator@respeculator
Maybe I spend too much time buried in resource project economics where the inflation rate is way over the 6% coupon rate some are providing debt at for some of these miners.. In 2022 #S32 said Hermosa would be built for US$1.7bn (2022 real dollars)... US$1.7bn has been spent since to 31 March 2026 and we are a ways away from completion with an updated estimate due in the June quarter... I daresay we are +50% cost inflation on the headline number over ~4yrs.. I could list many similar stories so it's not project specific just an example...
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Alex Beer retweetledi
We will have some interesting weeks ahead. Below, Japanese crude oil inventory draws.
Alexander Stahel 🌻@BurggrabenH
Japan imports down 68% in Apr! Similar damage in rest of OECD Asia. SPRs can cushion impact until June, assuming a 2nd batch will be released asap - obviously. DFL M1 will reveal the pain. Market will grow up during Q2 one way or another, ceteris paribus.
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Good quarter from $CTP. Underlying op cashflow was just $2m reported. But add back $1.9m on PV + $1.8m on GBA debt = $5.7m underlying or >$22m annual op cashflow. Add on top +40% uplift from PV wells + Enterprise North / Otway drill (~2x production). Exciting 12m ahead !
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"Don’t Worry, Be Happy: Prices on our screens might be making us complacent about a looming economic drag. The Iran conflict’s effects will get a lot uglier." @WSJ @Spencerjakab
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Alex Beer retweetledi
“The situation here gets worse, simply because it’s guaranteed,” says Paul Sankey, president at Sankey Research. He explains the tough times ahead for the global oil market over the next two to three months.
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@MayneReport Doesn’t she know there is an oil crisis ? Could have just done a teams call 😂
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Victorian Greens Senator Steph Hodgins-May is chairing this Senate inquiry attempting to tax new gas projects such that they become unviable. They cleverly timed their Perth hearings tomorrow around Woodside AGM & she cheekily fronted the AGM demanding the CEO turn up tomorrow.
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@SenMcDonald Omg someone In Canberra that has a brain ! Susan you are amazing.
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I’ve been in a gas tax Senate Inquiry this week, and it’s clear activists are trying to use tax to end fossil fuel projects. We’ve heard selective data and misleading narratives to downplay the contribution resources make to our economy. #SkyNewsAustralia
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Alex Beer retweetledi
@JaquelineOutram We are not talking about corporate taxes here. These are taxes ABOVE the corporate rate (up to 40%) on top !
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“We invested US$60 billion over that period. It is not unreasonable to be able to recover that investment before we start paying a profit-based tax.”
WTAF Shell?
Ask any small business how much of their investment they can recover BEFORE they have to pay a profit-based tax 🤦♀️
stranger@strangerous10
It gets worse. Pocock continues to smash Wake on Shell’s “tricky accounting”, who provides how much Shell invests, but refuses to provide revenue. “You can’t even tell me that part of the equation, which I find very odd. You can tell me all your expenses, but not your revenue”💥
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BREAKING: We've just secured another 200M litres of diesel.
This brings the total additional diesel secured in the last seven days to approximately 300M litres.
We’re doing everything we can to help secure more fuel for Australians.
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@TheAusInstitute You need to be shareholders to get dividends ☕️ - you need to put some capital up and #drillbabydrill 🧘👍🔥
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“In Australia we don’t tax [the gas] industry. It’s foreign owned, and other people in the rest of the world are making a fortune out of [our gas] exports.
“And we’re the ones going ‘Gee, the air conditioning is a bit expensive’”.
✍ Support a 25% tax: theaus.in/4vKOeg4
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Alex Beer retweetledi
Oil markets one month away from tank bottoms -Gunvor's Lasserre #oott
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@saulkavonic Not a massive fan of @RogerCookMLA - but this is common sense stuff. Credit to him.
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WA Labor premier warns PM against a new gas tax afr.com/companies/ener…
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@strangerous10 @TheAusInstitute Because the government funds the drilling ! We need to #drillbabydrill like Norway 🇳🇴
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Dr Richard Denniss dismantles the gas industry’s favorite threat.
If taxes kill investment, why is the gas industry rushing to Norway to pay 78%? 🙄
“They are playing us for fools.” 🔥
Nationals’ Susan McDonald has no rebuttal & scrambles to change the subject. #auspol
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@TheAusInstitute Woodside pays 45% tax rate on income (FY25). Since 2011 Woodside has paid approximately A$25 billion in Australian taxes and paid wages to Australian employees and generated more than A$5 billion (PAYG). The govt hasn’t had to pay a cent to develop the gas either (all free) !
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New Australia Institute research shows that the Japanese Government makes more revenue taxing Australian gas than the Australian Government!
"They're taxing our gas. There's no reason we can't."
- co-CEO Richard Denniss #auspol
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NEWS: Australia’s birth rate hits another record low 🚨
Fertility falls to ~1.48 in 2025 — **2nd straight record low since 1924**
• Projected to drop further to ~1.42
• Far below the 2.1 replacement level
Australia is now nowhere near replacement level.
This is exactly the decline @elonmusk has been warning about for years.
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@AlaliQasem Very few realise how ugly things will get 2H of this year
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🔴 EU gas storage: ~30%
📉 Lowest level in 5 years
⚡ TTF gas prices: +55% since Hormuz closed
🚢 Qatari LNG: Zero transits in over a month
Europe needs to inject 60 bcm this summer to hit the 90% target by winter.
With Hormuz still choked — where exactly is that gas coming from?
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@LukeyTrags @AlaliQasem It’s a total disaster. If we get a cold winter in Europe / US will take years to recover…YEARS !!!
GIF
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