On Wednesday during Q&A following Jay Powell’s speech to the Economic Club of Chicago, he warned that the near-term impact of tariffs is likely to be rising unemployment and rising inflation. The Fed’s twin mandate is one of maximum employment consistent with price stability. Powell said, “I believe that for the remainder of this year, we […]
Last week President Trump said the EU should close its trade surplus with the US by buying $350BN of US energy. The Administration’s spontaneous policy switches on tariffs have been unpleasant for investors. But at least for those exposed to the energy sector, there’s a gratifying consistency in that oil and gas are invariably part […]
By Henry Hoffman, Partner, SL Advisors In the realm of global energy, 2024 was heralded as a landmark year for the expansion of liquefied natural gas (LNG) projects, particularly for America. Optimism was buoyed by the prior year’s achievements, wherein American enterprises reached Final Investment Decision (FID) on the equivalent of 5 Billion Cubic Feet […]
The Magnificent Seven may be shrinking to the Fab Four as the number of AI-linked market leaders diminishes. Tesla and Apple are down on the year while Alphabet lagged the S&P500. That leaves Nvidia, Meta, Amazon and Facebook leading. As with the dotcom bubble 25 years ago, if you can link your business to the […]
Indonesia and Malaysia are apparently among the few places on earth with geology suited to hold CO2. This has drawn the interest of Exxon Mobil among others, who recently secured “exclusive rights to CO2 storage” according to CEO Darren Woods. Meeting the “Zero by 50” goal requires burying 1 billion tons of CO2 annually by […]
Christmas is a time of traditions, which in turn create nostalgia. Like endorphins, this is a free and harmless narcotic. Putting up the external Christmas lights, which we typically do right after Thanksgiving, usefully expends a few calories and kicks off that warm Yuletide feeling. Hunting through dusty boxes in the chilly attic for […]
Last week the Midstream Energy Infrastructure Conference (MEIC) held its annual event in Palm Beach, FL. SL Advisors partner Henry Hoffman was there and today’s blog post recounts highlights reported by Henry. Oneok’s (OKE) proposed acquisition of Magellan Midstream (MMP) was a common topic, especially the unwelcome recapture of deferred taxes facing MMP. When a […]
Every investor is aware that the market’s been volatile recently. The VIX is high but converting it into typical daily moves isn’t intuitive. Several readers like the chart below, which shows what % of the last 100 trading days have seen the market move by more than 1% in either direction. It’s currently 55, so […]
Watch this nine-minute video to learn: Why You Should Worry About Inflation
Last week was hailed as a big victory for climate activists. In a 1-2-3 punch on Wednesday, a Dutch court ordered Royal Dutch Shell (RDS) to further reduce emissions from its products; Exxon Mobil (XOM) shareholders elected two new directors proposed by an activist hedge fund against management’s recommendation; Chevron (CVX) shareholders approved a proposal to reduce emissions caused by its customers. All […]
