1/3 of SPR Gone

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valueplays
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This really isn’t good…..

Q2 2022 hedge fund letters, conferences and more

 

“Davidson” submits:

  • US Crude Prod declines 0.1mil to 12mil BBL/Day, Total Crude Inv declines 11.4mil BBL(a decline of ~3.3mil BBL & 8.1mil BBLin SPR), US Crude Imports declined 0.7mil BBL/Day(4.9mil BBL/Week), Fudge factor of 0.636mil BBL/Day(~4.45mil BBL/Week)
  • US Gasoline and other refined prod inv remained stable while Refine Product Export rose a little, UD Refinery Inputs unchanged.

US crude inventories continue to decline at a fierce pace which is revealed whenever crude imports slow. March 2021 marks the current administration’s inception of SPR releases. To date the SPR is ~30% lower.

HFA Padded

Todd Sullivan is a Massachusetts-based value investor and a General Partner in Rand Strategic Partners. He looks for investments he believes are selling for a discount to their intrinsic value given their current situation and future prospects. He holds them until that value is realized or the fundamentals change in a way that no longer support his thesis. His blog features his various ideas and commentary and he updates readers on their progress in a timely fashion. His commentary has been seen in the online versions of the Wall St. Journal, New York Times, CNN Money, Business Week, Crain’s NY, Kiplingers and other publications. He has also appeared on Fox Business News & Fox News and is a RealMoney.com contributor. His commentary on Starbucks during 2008 was recently quoted by its Founder Howard Schultz in his recent book “Onward”. In 2011 he was asked to present an investment idea at Bill Ackman’s “Harbor Investment Conference”.