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Title : Saturday Morning Notes -- Nothing On The Bakken -- November 18, 2107
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Saturday Morning Notes -- Nothing On The Bakken -- November 18, 2107

Quick: what do Spain, GE, Siemens, Vestas, and probably many others have in common? They all lost a lot of money and wasted a lot of time and resources on wind energy when it could have been used elsewhere. See more below.

Suncor: will increase production this year, spend less on CAPEX.vThe rise in production and fall in capital expenditure are expected to enable Suncor Energy to return more free cash flow to its stockholders through share buybacks and dividends.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have read here. The purpose of the Suncor note was to suggest that the oil sector continues to show signs of life.

Taxes and regulations. Yesterday I wrote, "I've lost interest in the tax bill. I agree with those who say the various versions appear simply to be replacing old loopholes with new loopholes; and, throwing a bone to the middle class. I strongly believe that tax cuts for US corporations will be good news for the US but the average "man on the street" won't see any change. And even though corporate tax cuts are good for the US, is it that much "good news" compared to other problems/solutions? I'm not convinced the tax code is the biggest problem for the Fortune 500 companies."

Today we have a great example: changes in rules and regulations will go a lot farther than tax reform will to make America more competitive: US regulator votes to loosen media ownership rules.

• The U.S. Federal Communications Commission voted to undo key roadblocks to increased consolidation among media companies, potentially unleashing new deals among them.
• Big media companies including Tegna, CBS and Nexstar Media have cited the rule change as motivating them to consider expansion opportunities. 
• The Republican-led FCC voted 3-2 to eliminate the 42-year-old ban on cross-ownership of a newspaper and TV station in a major market. It also voted to make it easier for media companies to buy additional TV stations in the same market, and for local stations to jointly sell advertising time and for companies to buy additional radio stations in some markets.

Wind: it appears that Minnesotans are not the only ones pushing  back on wind energy -- at least in their own state. Today in Barron's:

The U.S. market, a trophy for Vestas Wind Systems is at risk of turning into a turkey, depending on how Washington's tax-reform push pans out.

Shares in the world's biggest manufacturer of wind turbines have tumbled more than 20% in November, whacked in part by worries about a potential hit to a production tax credit that has helped drive construction of U.S. wind farms. 

Weaker-than-expected quarterly results have sparked concerns about the Danish company's pricing power and also weighed on Vestas' stock. 

While bulls say the selloff appears overdone, those taking a cautious stance have a compelling story to tell. 

"If the U.S. were to go from hero to zero, that would mean a lot for Vestas' global position in this industry," warns Jacob Pedersen , head of equity analysis at Denmark's Sydbank. His bank has cut its rating on the shares to Hold from Buy this month, citing uncertainty around the production tax credit, or PTC, and the pricing pressures. 

Vestas has become the leader in its industry, ahead of rival wind-turbine makers such as GE and Siemens Gamesa Renewable Energy. 

You may recall that Siemens recently announced it is cutting 7,000 jobs. I assumed it was due to wind energy and this story on Vestas seems to support that assumption. 

Much, much more at Barron's. 

You may recall that Siemens recently announced it is cutting 7,000 jobs. I assumed it was due to wind energy and this story on Vestas seems to support that assumption.

By the way, this is an interesting post from 2014 regarding GE, Siemens, and wind energy. How things have changed. 

http://ift.tt/2dZyQXu

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