RE:RE:RenewablesModerately satisfying to see LCFS finally lose value. I don't fault TWM for playing the game: they didn't set the rules for this insanity, but I do hate the game. Would like to see them invest in their previous core business now that they have the capacity, but I think those opportunities are largely owned by the integrated midstreams and larger E&Ps.
At some point LCFS will either have to start paying a dividend or TWM will need to sell its LCFS shares through a secondary offering.
The opportunities they do have will hopefully be clarified in the coming quarters as they deploy capital, but I'm happy to have mostly moved on from TWM.