FYI. My time at my desk will be limited over the next 2-3 weeks with short trips and meetings in Calgary, which means nowhere near my usual number of posts. Even on stat holiday today, investors are in Calgary. Q3 is now over and it seems like investors are looking at how they are positioned to protect their returns this year as a key priority. Dan T

WOW! big positive added natural gas demand for next 5-7 years in ontario. 5-7 years for Pickering nuclear power to be down for rebuild. spoke to my nuclear power experts who said the pressure tube replacement requirement on units 1-4 has been well known. but the boilers replacement is a surprise and wonder if this why more like 7 years than 4 or 5 years. this is 2,300 megawatts or enough to power 2.2 million homes ontario says natural gas will be the replacement. @GeckoJCKnight Thx Jack for forwarding and Tom for your expertise . #oott #natgas WATCH: Ontario starts $26.8-billion Pickering rebuild westernstandard.news/news/wa… #

Every man for himself. Am still surprised the big move by AI data centers to have their own #NatGas power didn't raise a big uproar for all other consumers of electricity from the grid. Good 👇graph reminds data centers are increasingly turning to on-site gas power generation options. Thx @BloombergNEF Fauziah Marzuki A couple years ago, i called this Every man for himself. See my 👇08/02/24 post. Data centers need reliable 24/7 #NatGas so much, they have been setting up their own on-site gas power generation. TC noted this in their Q2/24 Q&A "And as an alternative to citing these data centers behind LDCs, we're now seeing a much greater potential for data center operators to seek laterals off of our main line and to use that gas supply to fuel onsite power generation that they would build and or own themselves." Data centers will ensure their own 24/7 #NatGas power supply and let LDCs & their other customers deal the volatility from having more interruptible power supply. Surprised no big squawks as regular customers become more exposed to interruptible renewable power. #OOTT

Reminder. Freight costs are higher NOT just because of record diesel prices BUT also because there are 200,000 less truck drivers to deliver the freight in the US. Smithfield Foods. See my 👇post. #oott

Reminder, the increased diesel and freight costs just get passed through to its customers. Tyson Foods CEO. See my 👇post. #oott

Overlooked. Freight costs are higher not just because of record diesel prices in US. BUT also because there are 200,000 less truck drivers to deliver the freight. Smithfield Foods CFO 09/10: "Yes. As I mentioned, freight and diesel and resin-based packaging remain elevated, and our outlook assumes that that continues throughout the second half of the year. And diesel and freight really hit in the second quarter. And resin, that impact is beginning to flow through in the second half of the year. So it will be more meaningful as the contracts reset. But freight is as much a capacity story as anything. It is about the driver eligibility enforcement that has tightened supply. About 200,000 CDL licenses came out across the network, and we are not looking for a real improvement in that until perhaps the back half of 2027." CDL is commercial driver's license. Thx @business transcripts #oott