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2 Nov 10 2011 @ 10:31am by Matt Smith in Capital Markets, Crude Oil, Global Energy

The Summit Energy Classic

Tomorrow (11/11/11), the Summit Energy contingent in Louisville are heading to the hallowed turf of Churchill Downs to celebrate (…good times, come on!) and to witness the seventh race, which will be none other than…The Summit Energy Classic.   

As we know, all roads lead back to energy. So as I delved into the schedule for this Friday’s race meet, some themes emerged in the horse’s names relating to some pertinent energy trends. But first, a word from the wise:    

“There is a rich tapestry of horse racing here at Churchill Downs: from the Kentucky Derby to The Breeders Cup. And now the Summit Energy Classic can be added to this list.” – Steve Wilhite, CEO, Summit Energy.

Now onto those horse’s names, and how they canter back to energy:

1) Aviation is a key theme. In a week where the first commercial flight in the US was fueled by algae, there are no fewer than seven references to flying (“All American Flyer”, “A Cat That Flies”, “Ascending Brightly”, “Circletherunway”, “Kenyafly”, “She Can Fly” …and perhaps at a stretch “Speedacious”).

2) “Special Exchange” may be worth a flutter in the ninth race, as this is the first full week of trading on the world’s first exchange for biomass renewable energy. The index was launched in Amsterdam by Endex last Friday.  

3) There is even a hat-tip to our dearly beloved US natural gas (but it’s not “Causin’ Havoc”) ; the name of a horse in the sixth race is somewhat reminiscent of current natural gas prices. Trying to call the bottom of this market is like trying to catch “A Falling Knife”.

4) Gold is another strong theme – both in this race meet and in current commodity markets – as it once again approaches record highs. There are four horses racing on Friday which relate to the alchemist’s metal (“Gold Policy”, “Golden Meadow”, “Golden ticket”, and “Goldenexpectations”).  

5) The name Stray Dog” jumps out, as gasoline is currently the stray dog of the crude complex. Despite crude prices hitting three-month highs this week and distillate demand being strong, gasoline demand is down 5.6% versus last year, but still retail prices are up 20%…..The Bitter Truth”.

The pictures in this post by the way are created by staff members showing their Summit energy”. The members of the winning team entry (pictured below) will present the trophy on Friday.

Finally, I have surveyed some of the most worldly-wise energy folk I know to get their tip for The Summit Energy Classic. Summit Energy COO Mark Boyer is calling for Bell of Buddha”. He is in good company; an enquiry with the energy reporters at the Wall Street Journal yielded exactly the same response. To get an international perspective, I spoke with the energy writers at the Agence France Presse (from the land of our parent company), who plumped with “Ninewithit” (because of a French sounding jockey) and “Phantom Star”, while the mighty Tom Fowler from The Houston Chronicle’s Fuelfix went for Ofourooneofive”. The entire field for Friday can be found here. Good luck!  

2 Comments on this post:

  1. Taylor says:

    Are you still going to have burrito bites today?

  2. Matt Smith says:

    Panic ye not, Taylor.

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