Author Archive: Tom Sanzillo

Director of Financial Analysis Tom Sanzillo has 30 years of experience in public and private finance, including as a first deputy comptroller of New York State, where he held oversight over a $156 billion pension fund and $200 billion in municipal bond programs.

IEEFA U.S.: Prices are up—but the oil industry’s return is more complicated

Rising oil prices fail to mask long-term fundamental weaknesses for oil business

Former ExxonMobil CEO Lee Raymond advanced the idea in the 1980s that the quality of management trumped all else in evaluating the oil industry’s prospects. He believed oil company executives were in the best position to project supply and demand, ride worldwide growth cycles, and provide robust returns to investors, no matter how oil markets […]

IEEFA: Uncertainty surrounds U.S. liquefied natural gas export projects in emerging Asia

Significant market risks and shifting U.S. policies could undermine LNG project ambitions in the region

July 8, 2021 (IEEFA) ⎼ Potential trade and climate policy shifts in the U.S. are raising questions about the viability of several ambitious liquefied natural gas (LNG) projects planned for emerging Asian markets, according to a recent report by the Institute for Energy Economics and Financial Analysis (IEEFA). New LNG import project sponsors in the […]

IEEFA: Institutional investors have a major role to play in carbon emissions reduction

IEA Net Zero by 2050 report lays out roadmap for successful economic transition

The recently released International Energy Agency (IEA) roadmap to a net-zero economic transformation by 2050 not only lays out an energy-and-beyond vision, but also sets forth key steps needed to achieve it.  The situation is dire, and the message for institutional investors, particularly public funds, is stark. Maintaining returns that meet financial targets—and protecting the […]

June 15, 2021 Read More →

IEEFA: Keystone XL project became another pipeline to nowhere

Demise of Keystone XL should spur regulators, investors to reconsider massive pipeline projects

As the Federal Energy Regulatory Commission (FERC) reviews the public comments it recently received on its proposal to reconsider how it determines whether a gas pipeline should be granted a certificate of public convenience and necessity, it would do well to consider the cautionary tale of a massive fossil fuel infrastructure project, the Keystone XL […]

IEEFA: Proposed budget for Puerto Rico’s electricity system fails test of balance, compliance and transparency

FOMB approval highlights five years of its failure to solve budget problems

The Federal Oversight and Management Board (FOMB) and the Puerto Rico Energy Bureau (PREB) have each approved budgets for the electrical system for the fiscal year 2022.  The FOMB’s budget demonstrates its abject failure since its inception to produce a transparent budget that demonstrates progress on savings initiatives and meeting the commonwealth’s renewable energy goals.  […]

IEEFA: Propuesta de presupuesto para el sistema eléctrico de Puerto Rico no pasa prueba de balance

La aprobación por la JSAF pone de relieve cinco años de su fracaso en resolver problemas presupuestarios

La Junta de Supervisión y Administración Financiera para Puerto Rico (JSAF) y el Negociado de Energía de Puerto Rico (NEPR) han aprobado presupuestos para el sistema eléctrico para el año fiscal 2022.  El presupuesto de la JSAF demuestra su abyecto fracaso desde su creación para producir un presupuesto transparente que demuestre el progreso en las […]

IEEFA U.S.: ExxonMobil touts Permian Basin success but achieves mixed results

Data suggests that ExxonMobil is underperforming in the Permian Basin

June 9, 2021 (IEEFA) – ExxonMobil’s claims that its Permian Basin oil and gas reserves are world-class will need the immediate attention of the new board, according to a new analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). In recent investor presentations, ExxonMobil has highlighted the superior performance of its oil wells […]

IEEFA U.S.: West Virginia can prepare for the energy transition and revive struggling coal communities

Coal communities can thrive again through partnerships and policies that recognize changing energy economy

West Virginia has been feeling the effects of the decline of the coal economy for the past decade. Local communities and the state need to be partners to protect each other from the fallout and to create new opportunities. The decline of coal is not going to reverse itself. The glut of natural gas from […]

IEEFA: CMD’s bag initiative raises questions for future of oil, gas and plastics industries

Plant-based polymer/LLDPE bags pose potentially big issues for petrochemical trends

May 13, 2021 (IEEFA)—In the world of plastics, sometimes one company’s story crystallizes the “life and times” of the industry. Plastics News, an industry weekly, recently covered the CMD Corporation’s efforts to publicize its latest plastic bag manufacturing innovation. The company’s initiative shines a light on industry trends and raises interesting questions for the future […]

IEEFA U.S.: Poor decisions on LUMA contract put Puerto Rico’s workers and communities at risk

FOMB privatization plan pushes electrical workers to the margins

May 12, 2021 (IEEFA) ⎼ Why is the Financial Oversight and Management Board (FOMB) of Puerto Rico aggressively pushing a grid privatization contract that threatens to destroy the one asset the electrical system has—its workforce—while raising costs for the bankrupt island government? LUMA Energy is scheduled to take over the non-generation functions of the Puerto […]