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		<title>SL Advisors Talks Markets</title>
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		<description>Simon Lack and Henry Hoffman of SL Advisors consider inflation risks to investors and how to respond.</description>
		<lastBuildDate>Thu, 09 Apr 2026 21:11:19 +0000</lastBuildDate>
		<language>en-US</language>
		<copyright>© 2021 SL-Advisors</copyright>
		<itunes:subtitle>Navigating Rising Inflation Risks</itunes:subtitle>
		<itunes:author>SL Advisors, LLC</itunes:author>
		<itunes:type>episodic</itunes:type>
		<itunes:summary>Simon Lack and Henry Hoffman of SL Advisors consider inflation risks to investors and how to respond.</itunes:summary>
		<itunes:owner>
			<itunes:name>SL Advisors, LLC</itunes:name>
			<itunes:email>sl@sl-advisors.com</itunes:email>
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		<itunes:category text="Business">
			<itunes:category text="Investing"></itunes:category>
		</itunes:category>
		<googleplay:author><![CDATA[SL Advisors, LLC]]></googleplay:author>
			<googleplay:email>sl@sl-advisors.com</googleplay:email>			<googleplay:description>Simon Lack and Henry Hoffman of SL Advisors consider inflation risks to investors and how to respond.</googleplay:description>
			<googleplay:explicit>No</googleplay:explicit>
			<podcast:locked owner="sl@sl-advisors.com">yes</podcast:locked>
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<item>
	<title>The Long Term LNG Outlook Keeps Improving</title>
	<link>https://sl-advisors.com/the-long-term-lng-outlook-keeps-improving</link>
	<pubDate>Sun, 05 Apr 2026 10:00:24 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24343</guid>
	<description><![CDATA[LNG export terminals usually have the ability to export more than their nameplate capacity. This is how we exported a record 18.8 Billion Cubic Feet Per Day (BCF/D) of natural gas in March, compared with FERC’s estimated sustainable limit of 14.6-15 BCF/D. Venture Global’s (VG) Plaquemines facility was the strongest at exceeding stated capacity. Cheniere’s [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[LNG export terminals usually have the ability to export more than their nameplate capacity. This is how we exported a record 18.8 Billion Cubic Feet Per Day (BCF/D) of natural gas in March, compared with FERC’s estimated sustainable limit of 14.6-15 BCF/]]></itunes:subtitle>
	<content:encoded><![CDATA[LNG export terminals usually have the ability to export more than their nameplate capacity. This is how we exported a record 18.8 Billion Cubic Feet Per Day (BCF/D) of natural gas in March, compared with FERC’s estimated sustainable limit of 14.6-15 BCF/D. Venture Global’s (VG) Plaquemines facility was the strongest at exceeding stated capacity. Cheniere’s [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24343/the-long-term-lng-outlook-keeps-improving.mp3" length="5913055" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[LNG export terminals usually have the ability to export more than their nameplate capacity. This is how we exported a record 18.8 Billion Cubic Feet Per Day (BCF/D) of natural gas in March, compared with FERC’s estimated sustainable limit of 14.6-15 BCF/D. Venture Global’s (VG) Plaquemines facility was the strongest at exceeding stated capacity. Cheniere’s [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:06:24</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[LNG export terminals usually have the ability to export more than their nameplate capacity. This is how we exported a record 18.8 Billion Cubic Feet Per Day (BCF/D) of natural gas in March, compared with FERC’s estimated sustainable limit of 14.6-15 BCF/D. Venture Global’s (VG) Plaquemines facility was the strongest at exceeding stated capacity. Cheniere’s [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>LNG Investors Contemplate The Long Run</title>
	<link>https://sl-advisors.com/lng-investors-contemplate-the-long-run</link>
	<pubDate>Sun, 29 Mar 2026 10:00:24 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24338</guid>
	<description><![CDATA[The disruption of Liquefied Natural Gas (LNG) exports from Qatar has a short term and long term consequence. As spot benchmark prices rose in Europe and Asia, traders focused on the near-term profit opportunity. LNG export terminals contract most of their capacity for long periods (10-20 years) to reduce their exposure to gas prices. Of [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The disruption of Liquefied Natural Gas (LNG) exports from Qatar has a short term and long term consequence. As spot benchmark prices rose in Europe and Asia, traders focused on the near-term profit opportunity. LNG export terminals contract most of thei]]></itunes:subtitle>
	<content:encoded><![CDATA[The disruption of Liquefied Natural Gas (LNG) exports from Qatar has a short term and long term consequence. As spot benchmark prices rose in Europe and Asia, traders focused on the near-term profit opportunity. LNG export terminals contract most of their capacity for long periods (10-20 years) to reduce their exposure to gas prices. Of [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24338/lng-investors-contemplate-the-long-run.mp3" length="3834851" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The disruption of Liquefied Natural Gas (LNG) exports from Qatar has a short term and long term consequence. As spot benchmark prices rose in Europe and Asia, traders focused on the near-term profit opportunity. LNG export terminals contract most of their capacity for long periods (10-20 years) to reduce their exposure to gas prices. Of [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:55</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The disruption of Liquefied Natural Gas (LNG) exports from Qatar has a short term and long term consequence. As spot benchmark prices rose in Europe and Asia, traders focused on the near-term profit opportunity. LNG export terminals contract most of their capacity for long periods (10-20 years) to reduce their exposure to gas prices. Of [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Higher For Longer</title>
	<link>https://sl-advisors.com/higher-for-longer</link>
	<pubDate>Sun, 22 Mar 2026 10:00:54 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24315</guid>
	<description><![CDATA[Trump 1.0 was not kind to energy investors. Although the sector welcomed his pro-energy regulatory approach, it came with a desire for low oil prices. Covid was the final straw as lockdowns forced everyone to stay at home, crushing oil demand and briefly sending crude prices negative. The American Energy Infrastructure Index (AEITR) delivered –6.2% [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Trump 1.0 was not kind to energy investors. Although the sector welcomed his pro-energy regulatory approach, it came with a desire for low oil prices. Covid was the final straw as lockdowns forced everyone to stay at home, crushing oil demand and briefly]]></itunes:subtitle>
	<content:encoded><![CDATA[Trump 1.0 was not kind to energy investors. Although the sector welcomed his pro-energy regulatory approach, it came with a desire for low oil prices. Covid was the final straw as lockdowns forced everyone to stay at home, crushing oil demand and briefly sending crude prices negative. The American Energy Infrastructure Index (AEITR) delivered –6.2% [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24315/higher-for-longer.mp3" length="4471754" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Trump 1.0 was not kind to energy investors. Although the sector welcomed his pro-energy regulatory approach, it came with a desire for low oil prices. Covid was the final straw as lockdowns forced everyone to stay at home, crushing oil demand and briefly sending crude prices negative. The American Energy Infrastructure Index (AEITR) delivered –6.2% [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:34</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Trump 1.0 was not kind to energy investors. Although the sector welcomed his pro-energy regulatory approach, it came with a desire for low oil prices. Covid was the final straw as lockdowns forced everyone to stay at home, crushing oil demand and briefly sending crude prices negative. The American Energy Infrastructure Index (AEITR) delivered –6.2% [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Not Yet A Crisis</title>
	<link>https://sl-advisors.com/not-yet-a-crisis</link>
	<pubDate>Sun, 15 Mar 2026 10:00:18 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24307</guid>
	<description><![CDATA[It’s not easy to make the Persian Gulf safe for commercial shipping. On Wednesday a Thai vessel was hit by three “unidentified projectiles” near the Strait of Hormuz and caught fire. Several other vessels were hit towards the end of the week. In total 22 civilian ships have been hit in the Persian Gulf since [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[It’s not easy to make the Persian Gulf safe for commercial shipping. On Wednesday a Thai vessel was hit by three “unidentified projectiles” near the Strait of Hormuz and caught fire. Several other vessels were hit towards the end of the week. In total 22]]></itunes:subtitle>
	<content:encoded><![CDATA[It’s not easy to make the Persian Gulf safe for commercial shipping. On Wednesday a Thai vessel was hit by three “unidentified projectiles” near the Strait of Hormuz and caught fire. Several other vessels were hit towards the end of the week. In total 22 civilian ships have been hit in the Persian Gulf since [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24307/not-yet-a-crisis.mp3" length="4095949" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[It’s not easy to make the Persian Gulf safe for commercial shipping. On Wednesday a Thai vessel was hit by three “unidentified projectiles” near the Strait of Hormuz and caught fire. Several other vessels were hit towards the end of the week. In total 22 civilian ships have been hit in the Persian Gulf since [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:18</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[It’s not easy to make the Persian Gulf safe for commercial shipping. On Wednesday a Thai vessel was hit by three “unidentified projectiles” near the Strait of Hormuz and caught fire. Several other vessels were hit towards the end of the week. In total 22 civilian ships have been hit in the Persian Gulf since [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Long Term Bullish LNG Story</title>
	<link>https://sl-advisors.com/the-long-term-bullish-lng-story</link>
	<pubDate>Sun, 08 Mar 2026 10:00:52 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24285</guid>
	<description><![CDATA[The negative correlation between energy and the stock market that we highlighted last Sunday (see AI Moves The Energy Sector) continued last week, unsurprisingly given the news. We had thought global natural gas markets were more vulnerable than crude oil to conflict, and this turned out to be true. Qatar represents only 20% of global [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The negative correlation between energy and the stock market that we highlighted last Sunday (see AI Moves The Energy Sector) continued last week, unsurprisingly given the news. We had thought global natural gas markets were more vulnerable than crude oi]]></itunes:subtitle>
	<content:encoded><![CDATA[The negative correlation between energy and the stock market that we highlighted last Sunday (see AI Moves The Energy Sector) continued last week, unsurprisingly given the news. We had thought global natural gas markets were more vulnerable than crude oil to conflict, and this turned out to be true. Qatar represents only 20% of global [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24285/the-long-term-bullish-lng-story.mp3" length="4553100" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The negative correlation between energy and the stock market that we highlighted last Sunday (see AI Moves The Energy Sector) continued last week, unsurprisingly given the news. We had thought global natural gas markets were more vulnerable than crude oil to conflict, and this turned out to be true. Qatar represents only 20% of global [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:12</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The negative correlation between energy and the stock market that we highlighted last Sunday (see AI Moves The Energy Sector) continued last week, unsurprisingly given the news. We had thought global natural gas markets were more vulnerable than crude oil to conflict, and this turned out to be true. Qatar represents only 20% of global [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>AI Moves The Energy Sector</title>
	<link>https://sl-advisors.com/ai-moves-the-energy-sector</link>
	<pubDate>Sun, 01 Mar 2026 11:00:35 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24269</guid>
	<description><![CDATA[Forty years ago, when I was trading eurodollar interest rate futures, it was routine to respond to a sudden unexplained move in the market by calling the floor of the CME and talking to our broker. Caught up in the excitement of the loud heaving mass of brokers and locals in the pit*, he would [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Forty years ago, when I was trading eurodollar interest rate futures, it was routine to respond to a sudden unexplained move in the market by calling the floor of the CME and talking to our broker. Caught up in the excitement of the loud heaving mass of ]]></itunes:subtitle>
	<content:encoded><![CDATA[Forty years ago, when I was trading eurodollar interest rate futures, it was routine to respond to a sudden unexplained move in the market by calling the floor of the CME and talking to our broker. Caught up in the excitement of the loud heaving mass of brokers and locals in the pit*, he would [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24269/ai-moves-the-energy-sector.mp3" length="5522670" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Forty years ago, when I was trading eurodollar interest rate futures, it was routine to respond to a sudden unexplained move in the market by calling the floor of the CME and talking to our broker. Caught up in the excitement of the loud heaving mass of brokers and locals in the pit*, he would [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:38</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Forty years ago, when I was trading eurodollar interest rate futures, it was routine to respond to a sudden unexplained move in the market by calling the floor of the CME and talking to our broker. Caught up in the excitement of the loud heaving mass of brokers and locals in the pit*, he would [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Midstream Dances To A Different Tune</title>
	<link>https://sl-advisors.com/midstream-dances-to-a-different-tune</link>
	<pubDate>Sun, 22 Feb 2026 11:00:13 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24253</guid>
	<description><![CDATA[The performance of midstream last year didn’t align with the fundamentals. This is clear when you consider the periods either side (2024 and 2026YTD). Last year, the sector lagged and many investors became frustrated with the underperformance versus the S&#38;P500, which really means versus the big AI hyperscalers. In 2024 midstream investors grasped the need [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The performance of midstream last year didn’t align with the fundamentals. This is clear when you consider the periods either side (2024 and 2026YTD). Last year, the sector lagged and many investors became frustrated with the underperformance versus the ]]></itunes:subtitle>
	<content:encoded><![CDATA[The performance of midstream last year didn’t align with the fundamentals. This is clear when you consider the periods either side (2024 and 2026YTD). Last year, the sector lagged and many investors became frustrated with the underperformance versus the S&#38;P500, which really means versus the big AI hyperscalers. In 2024 midstream investors grasped the need [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24253/midstream-dances-to-a-different-tune.mp3" length="4464033" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The performance of midstream last year didn’t align with the fundamentals. This is clear when you consider the periods either side (2024 and 2026YTD). Last year, the sector lagged and many investors became frustrated with the underperformance versus the S&#38;P500, which really means versus the big AI hyperscalers. In 2024 midstream investors grasped the need [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:10</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The performance of midstream last year didn’t align with the fundamentals. This is clear when you consider the periods either side (2024 and 2026YTD). Last year, the sector lagged and many investors became frustrated with the underperformance versus the S&#38;P500, which really means versus the big AI hyperscalers. In 2024 midstream investors grasped the need [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Gas Production Is Our Strategic Advantage</title>
	<link>https://sl-advisors.com/gas-production-is-our-strategic-advantage</link>
	<pubDate>Sun, 15 Feb 2026 11:00:29 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24236</guid>
	<description><![CDATA[Williams Companies’ (WMB) youthful President and CEO Chad Zamarin gave an inspiring presentation to kick of their Investor Day last week. He described US energy infrastructure as a blessing, and natural gas as our competitive advantage. Zamarin traced the company’s origins back to World War II, when German U-boats were sinking US ships transporting fuel [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Williams Companies’ (WMB) youthful President and CEO Chad Zamarin gave an inspiring presentation to kick of their Investor Day last week. He described US energy infrastructure as a blessing, and natural gas as our competitive advantage. Zamarin traced th]]></itunes:subtitle>
	<content:encoded><![CDATA[Williams Companies’ (WMB) youthful President and CEO Chad Zamarin gave an inspiring presentation to kick of their Investor Day last week. He described US energy infrastructure as a blessing, and natural gas as our competitive advantage. Zamarin traced the company’s origins back to World War II, when German U-boats were sinking US ships transporting fuel [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24236/gas-production-is-our-strategic-advantage.mp3" length="4494952" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Williams Companies’ (WMB) youthful President and CEO Chad Zamarin gave an inspiring presentation to kick of their Investor Day last week. He described US energy infrastructure as a blessing, and natural gas as our competitive advantage. Zamarin traced the company’s origins back to World War II, when German U-boats were sinking US ships transporting fuel [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:14</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Williams Companies’ (WMB) youthful President and CEO Chad Zamarin gave an inspiring presentation to kick of their Investor Day last week. He described US energy infrastructure as a blessing, and natural gas as our competitive advantage. Zamarin traced the company’s origins back to World War II, when German U-boats were sinking US ships transporting fuel [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>What’s Your Inflation Rate?</title>
	<link>https://sl-advisors.com/whats-your-inflation-rate</link>
	<pubDate>Sun, 08 Feb 2026 11:00:12 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24213</guid>
	<description><![CDATA[The other day I was chatting with a retired friend about the inflation rate he should assume when analyzing his investment portfolio and its ability to fund his retirement. The Fed’s stated inflation goal is 2%, so my friend felt that 3% was a conservative assumption. There are several problems with using the CPI to [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The other day I was chatting with a retired friend about the inflation rate he should assume when analyzing his investment portfolio and its ability to fund his retirement. The Fed’s stated inflation goal is 2%, so my friend felt that 3% was a conservati]]></itunes:subtitle>
	<content:encoded><![CDATA[The other day I was chatting with a retired friend about the inflation rate he should assume when analyzing his investment portfolio and its ability to fund his retirement. The Fed’s stated inflation goal is 2%, so my friend felt that 3% was a conservative assumption. There are several problems with using the CPI to [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24213/whats-your-inflation-rate.mp3" length="5022782" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The other day I was chatting with a retired friend about the inflation rate he should assume when analyzing his investment portfolio and its ability to fund his retirement. The Fed’s stated inflation goal is 2%, so my friend felt that 3% was a conservative assumption. There are several problems with using the CPI to [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:53</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The other day I was chatting with a retired friend about the inflation rate he should assume when analyzing his investment portfolio and its ability to fund his retirement. The Fed’s stated inflation goal is 2%, so my friend felt that 3% was a conservative assumption. There are several problems with using the CPI to [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Energy Is The New Market Leader</title>
	<link>https://sl-advisors.com/energy-is-the-new-market-leader</link>
	<pubDate>Sun, 01 Feb 2026 11:00:27 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24218</guid>
	<description><![CDATA[January was a good month for midstream energy infrastructure. The American Energy Infrastructure Index was +9%, the 10th best month of the past decade and the best since November 2024. For those who like simple statistical patterns, over the past ten years the direction of January’s performance has correctly predicted the full year 70% of [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[January was a good month for midstream energy infrastructure. The American Energy Infrastructure Index was +9%, the 10th best month of the past decade and the best since November 2024. For those who like simple statistical patterns, over the past ten yea]]></itunes:subtitle>
	<content:encoded><![CDATA[January was a good month for midstream energy infrastructure. The American Energy Infrastructure Index was +9%, the 10th best month of the past decade and the best since November 2024. For those who like simple statistical patterns, over the past ten years the direction of January’s performance has correctly predicted the full year 70% of [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24218/energy-is-the-new-market-leader.mp3" length="3537566" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[January was a good month for midstream energy infrastructure. The American Energy Infrastructure Index was +9%, the 10th best month of the past decade and the best since November 2024. For those who like simple statistical patterns, over the past ten years the direction of January’s performance has correctly predicted the full year 70% of [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:29</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[January was a good month for midstream energy infrastructure. The American Energy Infrastructure Index was +9%, the 10th best month of the past decade and the best since November 2024. For those who like simple statistical patterns, over the past ten years the direction of January’s performance has correctly predicted the full year 70% of [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Energy Leads The Market</title>
	<link>https://sl-advisors.com/energy-leads-the-market</link>
	<pubDate>Sun, 25 Jan 2026 11:00:25 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24205</guid>
	<description><![CDATA[There were several positive news stories last week that helped propel the American Energy Infrastructure Index (AEITR) to +7% YTD, well ahead of the S&#38;P500 which is +1%. Kinder Morgan’s (KMI) earnings unusually beat expectations. Moreover, their increased backlog of projects didn’t scare investors as much as it should given their perennially low Return On [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[There were several positive news stories last week that helped propel the American Energy Infrastructure Index (AEITR) to +7% YTD, well ahead of the S&#38;P500 which is +1%. Kinder Morgan’s (KMI) earnings unusually beat expectations. Moreover, their incr]]></itunes:subtitle>
	<content:encoded><![CDATA[There were several positive news stories last week that helped propel the American Energy Infrastructure Index (AEITR) to +7% YTD, well ahead of the S&#38;P500 which is +1%. Kinder Morgan’s (KMI) earnings unusually beat expectations. Moreover, their increased backlog of projects didn’t scare investors as much as it should given their perennially low Return On [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24205/energy-leads-the-market.mp3" length="4571011" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[There were several positive news stories last week that helped propel the American Energy Infrastructure Index (AEITR) to +7% YTD, well ahead of the S&#38;P500 which is +1%. Kinder Morgan’s (KMI) earnings unusually beat expectations. Moreover, their increased backlog of projects didn’t scare investors as much as it should given their perennially low Return On [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:28</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[There were several positive news stories last week that helped propel the American Energy Infrastructure Index (AEITR) to +7% YTD, well ahead of the S&#38;P500 which is +1%. Kinder Morgan’s (KMI) earnings unusually beat expectations. Moreover, their increased backlog of projects didn’t scare investors as much as it should given their perennially low Return On [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Quantifying The Gas Arb</title>
	<link>https://sl-advisors.com/quantifying-the-gas-arb</link>
	<pubDate>Sun, 18 Jan 2026 11:00:37 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24192</guid>
	<description><![CDATA[In The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution, author Greg Zuckerman explains how today’s traders spend most of their time doing research. At Renaissance, the hedge fund Zuckerman chronicles, and other quantitative funds, traders spend much of their time looking for market anomalies that are likely to repeat and [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[In The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution, author Greg Zuckerman explains how today’s traders spend most of their time doing research. At Renaissance, the hedge fund Zuckerman chronicles, and other quantitative funds,]]></itunes:subtitle>
	<content:encoded><![CDATA[In The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution, author Greg Zuckerman explains how today’s traders spend most of their time doing research. At Renaissance, the hedge fund Zuckerman chronicles, and other quantitative funds, traders spend much of their time looking for market anomalies that are likely to repeat and [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24192/quantifying-the-gas-arb.mp3" length="4114140" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[In The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution, author Greg Zuckerman explains how today’s traders spend most of their time doing research. At Renaissance, the hedge fund Zuckerman chronicles, and other quantitative funds, traders spend much of their time looking for market anomalies that are likely to repeat and [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:53</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[In The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution, author Greg Zuckerman explains how today’s traders spend most of their time doing research. At Renaissance, the hedge fund Zuckerman chronicles, and other quantitative funds, traders spend much of their time looking for market anomalies that are likely to repeat and [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Venezuela: Mostly Questions, Few Answers</title>
	<link>https://sl-advisors.com/venezuela-mostly-questions-few-answers</link>
	<pubDate>Sun, 11 Jan 2026 11:00:50 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24180</guid>
	<description><![CDATA[More than most times, the energy market is moving on macro developments. President Trump is for low oil prices. He wants energy dominance which means ample supply. Although the White House is a big fan of the US energy sector, volumes trump profits. Trump’s first term was not a good one for energy investors. Oil [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[More than most times, the energy market is moving on macro developments. President Trump is for low oil prices. He wants energy dominance which means ample supply. Although the White House is a big fan of the US energy sector, volumes trump profits. Trum]]></itunes:subtitle>
	<content:encoded><![CDATA[More than most times, the energy market is moving on macro developments. President Trump is for low oil prices. He wants energy dominance which means ample supply. Although the White House is a big fan of the US energy sector, volumes trump profits. Trump’s first term was not a good one for energy investors. Oil [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24180/venezuela-mostly-questions-few-answers.mp3" length="4479271" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[More than most times, the energy market is moving on macro developments. President Trump is for low oil prices. He wants energy dominance which means ample supply. Although the White House is a big fan of the US energy sector, volumes trump profits. Trump’s first term was not a good one for energy investors. Oil [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:04</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[More than most times, the energy market is moving on macro developments. President Trump is for low oil prices. He wants energy dominance which means ample supply. Although the White House is a big fan of the US energy sector, volumes trump profits. Trump’s first term was not a good one for energy investors. Oil [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Few Laughs In Gas Last Year</title>
	<link>https://sl-advisors.com/few-laughs-in-gas-last-year</link>
	<pubDate>Sun, 04 Jan 2026 11:00:20 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24158</guid>
	<description><![CDATA[Energy was a laggard in 2025, and within that Liquefied Natural Gas (LNG) stocks were especially weak. The S&#38;P Energy Index was +9.1%, 8.8% behind the S&#38;P500. The American Energy Independence Index (AEITR) was +1.7%. The five-year annual trailing return on the AEITR is well ahead of the broader market (23.6% vs 15.3%). Over the [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Energy was a laggard in 2025, and within that Liquefied Natural Gas (LNG) stocks were especially weak. The S&#38;P Energy Index was +9.1%, 8.8% behind the S&#38;P500. The American Energy Independence Index (AEITR) was +1.7%. The five-year annual trailing]]></itunes:subtitle>
	<content:encoded><![CDATA[Energy was a laggard in 2025, and within that Liquefied Natural Gas (LNG) stocks were especially weak. The S&#38;P Energy Index was +9.1%, 8.8% behind the S&#38;P500. The American Energy Independence Index (AEITR) was +1.7%. The five-year annual trailing return on the AEITR is well ahead of the broader market (23.6% vs 15.3%). Over the [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24158/few-laughs-in-gas-last-year.mp3" length="6029286" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Energy was a laggard in 2025, and within that Liquefied Natural Gas (LNG) stocks were especially weak. The S&#38;P Energy Index was +9.1%, 8.8% behind the S&#38;P500. The American Energy Independence Index (AEITR) was +1.7%. The five-year annual trailing return on the AEITR is well ahead of the broader market (23.6% vs 15.3%). Over the [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:07:11</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Energy was a laggard in 2025, and within that Liquefied Natural Gas (LNG) stocks were especially weak. The S&#38;P Energy Index was +9.1%, 8.8% behind the S&#38;P500. The American Energy Independence Index (AEITR) was +1.7%. The five-year annual trailing return on the AEITR is well ahead of the broader market (23.6% vs 15.3%). Over the [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>English Christmas Dinner</title>
	<link>https://sl-advisors.com/english-christmas-dinner</link>
	<pubDate>Sun, 28 Dec 2025 11:00:10 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24141</guid>
	<description><![CDATA[Regular readers know that around this time of the year my thoughts briefly stray from midstream energy to Christmas. My love of Christmas pudding has been well documented here (see English Christmas Traditions, Merry Christmas and Happy Holidays! and watch The Joy of Christmas Pudding). We all fondly remember the Christmas of our childhood. My [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Regular readers know that around this time of the year my thoughts briefly stray from midstream energy to Christmas. My love of Christmas pudding has been well documented here (see English Christmas Traditions, Merry Christmas and Happy Holidays! and wat]]></itunes:subtitle>
	<content:encoded><![CDATA[Regular readers know that around this time of the year my thoughts briefly stray from midstream energy to Christmas. My love of Christmas pudding has been well documented here (see English Christmas Traditions, Merry Christmas and Happy Holidays! and watch The Joy of Christmas Pudding). We all fondly remember the Christmas of our childhood. My [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24141/english-christmas-dinner.mp3" length="2705296" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Regular readers know that around this time of the year my thoughts briefly stray from midstream energy to Christmas. My love of Christmas pudding has been well documented here (see English Christmas Traditions, Merry Christmas and Happy Holidays! and watch The Joy of Christmas Pudding). We all fondly remember the Christmas of our childhood. My [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:45</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Regular readers know that around this time of the year my thoughts briefly stray from midstream energy to Christmas. My love of Christmas pudding has been well documented here (see English Christmas Traditions, Merry Christmas and Happy Holidays! and watch The Joy of Christmas Pudding). We all fondly remember the Christmas of our childhood. My [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>What A Difference A Year Makes</title>
	<link>https://sl-advisors.com/what-a-difference-a-year-makes</link>
	<pubDate>Sun, 21 Dec 2025 11:00:36 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24108</guid>
	<description><![CDATA[2025 has been frustrating for those who must explain short term performance in midstream energy stocks – which is to say your blogger, along with many financial advisors whose clients are invested in the sector. It hasn’t been an especially newsworthy year. In 2024, the realization that natural gas would benefit from the growth of [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[2025 has been frustrating for those who must explain short term performance in midstream energy stocks – which is to say your blogger, along with many financial advisors whose clients are invested in the sector. It hasn’t been an especially newsworthy ye]]></itunes:subtitle>
	<content:encoded><![CDATA[2025 has been frustrating for those who must explain short term performance in midstream energy stocks – which is to say your blogger, along with many financial advisors whose clients are invested in the sector. It hasn’t been an especially newsworthy year. In 2024, the realization that natural gas would benefit from the growth of [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24108/what-a-difference-a-year-makes.mp3" length="4984510" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[2025 has been frustrating for those who must explain short term performance in midstream energy stocks – which is to say your blogger, along with many financial advisors whose clients are invested in the sector. It hasn’t been an especially newsworthy year. In 2024, the realization that natural gas would benefit from the growth of [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:54</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[2025 has been frustrating for those who must explain short term performance in midstream energy stocks – which is to say your blogger, along with many financial advisors whose clients are invested in the sector. It hasn’t been an especially newsworthy year. In 2024, the realization that natural gas would benefit from the growth of [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Rethinking Hydrogen</title>
	<link>https://sl-advisors.com/rethinking-hydrogen</link>
	<pubDate>Sun, 14 Dec 2025 11:00:05 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24101</guid>
	<description><![CDATA[Hydrogen has long been thought to be a viable form of carbon-free energy. When burned, it produces water vapor. But hydrogen isn’t very energy-dense (about two thirds less than gasoline), is expensive to produce and hard to handle. An interesting fact is that H2 molecules are so tiny they can gradually leak through a steel [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Hydrogen has long been thought to be a viable form of carbon-free energy. When burned, it produces water vapor. But hydrogen isn’t very energy-dense (about two thirds less than gasoline), is expensive to produce and hard to handle. An interesting fact is]]></itunes:subtitle>
	<content:encoded><![CDATA[Hydrogen has long been thought to be a viable form of carbon-free energy. When burned, it produces water vapor. But hydrogen isn’t very energy-dense (about two thirds less than gasoline), is expensive to produce and hard to handle. An interesting fact is that H2 molecules are so tiny they can gradually leak through a steel [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24101/rethinking-hydrogen.mp3" length="4567843" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Hydrogen has long been thought to be a viable form of carbon-free energy. When burned, it produces water vapor. But hydrogen isn’t very energy-dense (about two thirds less than gasoline), is expensive to produce and hard to handle. An interesting fact is that H2 molecules are so tiny they can gradually leak through a steel [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:30</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Hydrogen has long been thought to be a viable form of carbon-free energy. When burned, it produces water vapor. But hydrogen isn’t very energy-dense (about two thirds less than gasoline), is expensive to produce and hard to handle. An interesting fact is that H2 molecules are so tiny they can gradually leak through a steel [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Midstream And Variable Costs</title>
	<link>https://sl-advisors.com/midstream-and-variable-costs</link>
	<pubDate>Sun, 07 Dec 2025 11:00:42 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24086</guid>
	<description><![CDATA[Renewables’ advocates are fond of linking solar and wind with the power needs of data centers. Superficially, the marriage of new technology and new energy seems inevitable. Bloomberg New Energy Finance (BNEF) is just one example of media outlets that are telling this story (see Power Hungry Data Centers Are Driving Green Energy Demand). Inconveniently, [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Renewables’ advocates are fond of linking solar and wind with the power needs of data centers. Superficially, the marriage of new technology and new energy seems inevitable. Bloomberg New Energy Finance (BNEF) is just one example of media outlets that ar]]></itunes:subtitle>
	<content:encoded><![CDATA[Renewables’ advocates are fond of linking solar and wind with the power needs of data centers. Superficially, the marriage of new technology and new energy seems inevitable. Bloomberg New Energy Finance (BNEF) is just one example of media outlets that are telling this story (see Power Hungry Data Centers Are Driving Green Energy Demand). Inconveniently, [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24086/midstream-and-variable-costs.mp3" length="4053545" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Renewables’ advocates are fond of linking solar and wind with the power needs of data centers. Superficially, the marriage of new technology and new energy seems inevitable. Bloomberg New Energy Finance (BNEF) is just one example of media outlets that are telling this story (see Power Hungry Data Centers Are Driving Green Energy Demand). Inconveniently, [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:50</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Renewables’ advocates are fond of linking solar and wind with the power needs of data centers. Superficially, the marriage of new technology and new energy seems inevitable. Bloomberg New Energy Finance (BNEF) is just one example of media outlets that are telling this story (see Power Hungry Data Centers Are Driving Green Energy Demand). Inconveniently, [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Midstream Earnings/Valuation Paradox</title>
	<link>https://sl-advisors.com/the-midstream-earnings-valuation-paradox</link>
	<pubDate>Sun, 30 Nov 2025 11:00:18 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24063</guid>
	<description><![CDATA[Midstream is mercifully removed from all the angst and excitement of AI stocks and crypto – although in a modern version of selling pickaxes to goldminers, natural gas and its infrastructure enable much of this activity. You have to admire the response of MicroStrategy CEO Michael Saylor to the bitcoin collapse which has crushed his [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Midstream is mercifully removed from all the angst and excitement of AI stocks and crypto – although in a modern version of selling pickaxes to goldminers, natural gas and its infrastructure enable much of this activity. You have to admire the response o]]></itunes:subtitle>
	<content:encoded><![CDATA[Midstream is mercifully removed from all the angst and excitement of AI stocks and crypto – although in a modern version of selling pickaxes to goldminers, natural gas and its infrastructure enable much of this activity. You have to admire the response of MicroStrategy CEO Michael Saylor to the bitcoin collapse which has crushed his [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24063/the-midstream-earnings-valuation-paradox.mp3" length="3100319" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Midstream is mercifully removed from all the angst and excitement of AI stocks and crypto – although in a modern version of selling pickaxes to goldminers, natural gas and its infrastructure enable much of this activity. You have to admire the response of MicroStrategy CEO Michael Saylor to the bitcoin collapse which has crushed his [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:27</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Midstream is mercifully removed from all the angst and excitement of AI stocks and crypto – although in a modern version of selling pickaxes to goldminers, natural gas and its infrastructure enable much of this activity. You have to admire the response of MicroStrategy CEO Michael Saylor to the bitcoin collapse which has crushed his [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Good News On Climate</title>
	<link>https://sl-advisors.com/good-news-on-climate</link>
	<pubDate>Sun, 23 Nov 2025 11:00:32 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24041</guid>
	<description><![CDATA[To be a climate scientist means to live with a dour outlook. The news is never good. We’re always at a tipping point beyond which irreversible damage to the planet will result. Humanity may die out. Therefore, it was cheering to find some good news in the International Energy Agency’s (IEA) World Outlook 2025, albeit [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[To be a climate scientist means to live with a dour outlook. The news is never good. We’re always at a tipping point beyond which irreversible damage to the planet will result. Humanity may die out. Therefore, it was cheering to find some good news in th]]></itunes:subtitle>
	<content:encoded><![CDATA[To be a climate scientist means to live with a dour outlook. The news is never good. We’re always at a tipping point beyond which irreversible damage to the planet will result. Humanity may die out. Therefore, it was cheering to find some good news in the International Energy Agency’s (IEA) World Outlook 2025, albeit [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24041/good-news-on-climate.mp3" length="3106987" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[To be a climate scientist means to live with a dour outlook. The news is never good. We’re always at a tipping point beyond which irreversible damage to the planet will result. Humanity may die out. Therefore, it was cheering to find some good news in the International Energy Agency’s (IEA) World Outlook 2025, albeit [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:23</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[To be a climate scientist means to live with a dour outlook. The news is never good. We’re always at a tipping point beyond which irreversible damage to the planet will result. Humanity may die out. Therefore, it was cheering to find some good news in the International Energy Agency’s (IEA) World Outlook 2025, albeit [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Ten Reasons To Consider Buying Midstream Now</title>
	<link>https://sl-advisors.com/ten-reasons-to-consider-buying-midstream-now</link>
	<pubDate>Sun, 16 Nov 2025 11:00:53 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24025</guid>
	<description><![CDATA[Last week an investor asked us for ten reasons why they should commit funds to midstream energy infrastructure now. Typically, three or four bullet points will suffice to make the case, but in this case the request was for ten. Believe it or not, we were up to the challenge! Here they are: Valuations are [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Last week an investor asked us for ten reasons why they should commit funds to midstream energy infrastructure now. Typically, three or four bullet points will suffice to make the case, but in this case the request was for ten. Believe it or not, we were]]></itunes:subtitle>
	<content:encoded><![CDATA[Last week an investor asked us for ten reasons why they should commit funds to midstream energy infrastructure now. Typically, three or four bullet points will suffice to make the case, but in this case the request was for ten. Believe it or not, we were up to the challenge! Here they are: Valuations are [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24025/ten-reasons-to-consider-buying-midstream-now.mp3" length="3250854" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Last week an investor asked us for ten reasons why they should commit funds to midstream energy infrastructure now. Typically, three or four bullet points will suffice to make the case, but in this case the request was for ten. Believe it or not, we were up to the challenge! Here they are: Valuations are [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:47</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Last week an investor asked us for ten reasons why they should commit funds to midstream energy infrastructure now. Typically, three or four bullet points will suffice to make the case, but in this case the request was for ten. Believe it or not, we were up to the challenge! Here they are: Valuations are [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>MLP Yields Look Better Than Cash</title>
	<link>https://sl-advisors.com/mlp-yields-look-better-than-cash</link>
	<pubDate>Sun, 09 Nov 2025 11:00:43 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24015</guid>
	<description><![CDATA[Your blogger is routinely critical of the Alerian MLP ETF (AMLP) &#8212; for good reason, as its narrow universe and tax-paying structure offer ample points of weakness. They’ve even struggled to calculate taxes owed, which resulted in two downward NAV adjustments in 2022-23 (see AMLP Fails Its Investors Again). At times I’ve even been critical [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Your blogger is routinely critical of the Alerian MLP ETF (AMLP) &#8212; for good reason, as its narrow universe and tax-paying structure offer ample points of weakness. They’ve even struggled to calculate taxes owed, which resulted in two downward NAV a]]></itunes:subtitle>
	<content:encoded><![CDATA[Your blogger is routinely critical of the Alerian MLP ETF (AMLP) &#8212; for good reason, as its narrow universe and tax-paying structure offer ample points of weakness. They’ve even struggled to calculate taxes owed, which resulted in two downward NAV adjustments in 2022-23 (see AMLP Fails Its Investors Again). At times I’ve even been critical [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24015/mlp-yields-look-better-than-cash.mp3" length="3153008" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Your blogger is routinely critical of the Alerian MLP ETF (AMLP) &#8212; for good reason, as its narrow universe and tax-paying structure offer ample points of weakness. They’ve even struggled to calculate taxes owed, which resulted in two downward NAV adjustments in 2022-23 (see AMLP Fails Its Investors Again). At times I’ve even been critical [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:23</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Your blogger is routinely critical of the Alerian MLP ETF (AMLP) &#8212; for good reason, as its narrow universe and tax-paying structure offer ample points of weakness. They’ve even struggled to calculate taxes owed, which resulted in two downward NAV adjustments in 2022-23 (see AMLP Fails Its Investors Again). At times I’ve even been critical [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Debt Monetization And Pipelines</title>
	<link>https://sl-advisors.com/debt-monetization-and-pipelines</link>
	<pubDate>Sun, 02 Nov 2025 11:00:56 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=24007</guid>
	<description><![CDATA[I just finished reading Andrew Ross Sorkin’s new book 1929, which relies on a lot of previously unpublished material to tell the story of the Great Crash through some of the protagonists. For those who enjoy economic history or even a good story, this will not disappoint. Benjamin Strong ran the Federal Reserve until his [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[I just finished reading Andrew Ross Sorkin’s new book 1929, which relies on a lot of previously unpublished material to tell the story of the Great Crash through some of the protagonists. For those who enjoy economic history or even a good story, this wi]]></itunes:subtitle>
	<content:encoded><![CDATA[I just finished reading Andrew Ross Sorkin’s new book 1929, which relies on a lot of previously unpublished material to tell the story of the Great Crash through some of the protagonists. For those who enjoy economic history or even a good story, this will not disappoint. Benjamin Strong ran the Federal Reserve until his [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/24007/debt-monetization-and-pipelines.mp3" length="3182382" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[I just finished reading Andrew Ross Sorkin’s new book 1929, which relies on a lot of previously unpublished material to tell the story of the Great Crash through some of the protagonists. For those who enjoy economic history or even a good story, this will not disappoint. Benjamin Strong ran the Federal Reserve until his [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:29</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[I just finished reading Andrew Ross Sorkin’s new book 1929, which relies on a lot of previously unpublished material to tell the story of the Great Crash through some of the protagonists. For those who enjoy economic history or even a good story, this will not disappoint. Benjamin Strong ran the Federal Reserve until his [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Inflation Protection From Pipelines</title>
	<link>https://sl-advisors.com/inflation-protection-from-pipelines</link>
	<pubDate>Sun, 26 Oct 2025 10:00:30 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23992</guid>
	<description><![CDATA[The link between inflation and fee increases for liquids pipelines doesn’t draw much attention, but it proved to be valuable to midstream investors three years ago when the Biden administration’s excessive stimulus drove the Producer Price Index (PPI) up 13%. Maintaining purchasing power is the goal of most long-term investors. Inflation is reasonably close to [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The link between inflation and fee increases for liquids pipelines doesn’t draw much attention, but it proved to be valuable to midstream investors three years ago when the Biden administration’s excessive stimulus drove the Producer Price Index (PPI) up]]></itunes:subtitle>
	<content:encoded><![CDATA[The link between inflation and fee increases for liquids pipelines doesn’t draw much attention, but it proved to be valuable to midstream investors three years ago when the Biden administration’s excessive stimulus drove the Producer Price Index (PPI) up 13%. Maintaining purchasing power is the goal of most long-term investors. Inflation is reasonably close to [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23992/inflation-protection-from-pipelines.mp3" length="3209706" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The link between inflation and fee increases for liquids pipelines doesn’t draw much attention, but it proved to be valuable to midstream investors three years ago when the Biden administration’s excessive stimulus drove the Producer Price Index (PPI) up 13%. Maintaining purchasing power is the goal of most long-term investors. Inflation is reasonably close to [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:07</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The link between inflation and fee increases for liquids pipelines doesn’t draw much attention, but it proved to be valuable to midstream investors three years ago when the Biden administration’s excessive stimulus drove the Producer Price Index (PPI) up 13%. Maintaining purchasing power is the goal of most long-term investors. Inflation is reasonably close to [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Bullish News On Gas</title>
	<link>https://sl-advisors.com/bullish-news-on-gas</link>
	<pubDate>Sun, 19 Oct 2025 10:00:05 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23983</guid>
	<description><![CDATA[Last week there were two pieces of news that confirmed the bullish long term outlook for natural gas. On Thursday the WSJ reported on the Behind The Meter (BTM) arrangements that are becoming common (see AI Data Centers, Desperate for Electricity, Are Building Their Own Power Plants). This is faster than connecting with the grid [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Last week there were two pieces of news that confirmed the bullish long term outlook for natural gas. On Thursday the WSJ reported on the Behind The Meter (BTM) arrangements that are becoming common (see AI Data Centers, Desperate for Electricity, Are Bu]]></itunes:subtitle>
	<content:encoded><![CDATA[Last week there were two pieces of news that confirmed the bullish long term outlook for natural gas. On Thursday the WSJ reported on the Behind The Meter (BTM) arrangements that are becoming common (see AI Data Centers, Desperate for Electricity, Are Building Their Own Power Plants). This is faster than connecting with the grid [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23983/bullish-news-on-gas.mp3" length="4388510" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Last week there were two pieces of news that confirmed the bullish long term outlook for natural gas. On Thursday the WSJ reported on the Behind The Meter (BTM) arrangements that are becoming common (see AI Data Centers, Desperate for Electricity, Are Building Their Own Power Plants). This is faster than connecting with the grid [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:20</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Last week there were two pieces of news that confirmed the bullish long term outlook for natural gas. On Thursday the WSJ reported on the Behind The Meter (BTM) arrangements that are becoming common (see AI Data Centers, Desperate for Electricity, Are Building Their Own Power Plants). This is faster than connecting with the grid [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Gassy Isn’t Happy</title>
	<link>https://sl-advisors.com/gassy-isnt-happy</link>
	<pubDate>Sun, 12 Oct 2025 10:00:48 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23968</guid>
	<description><![CDATA[The last few weeks have been challenging for the bullish story on natural gas. On Thursday evening Venture Global (VG) disclosed that they’d lost an arbitration case with BP over their Calcasieu Pass LNG terminal. The International Chamber of Commerce (ICC) found that VG had breached its obligation to make a timely declaration of the [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The last few weeks have been challenging for the bullish story on natural gas. On Thursday evening Venture Global (VG) disclosed that they’d lost an arbitration case with BP over their Calcasieu Pass LNG terminal. The International Chamber of Commerce (I]]></itunes:subtitle>
	<content:encoded><![CDATA[The last few weeks have been challenging for the bullish story on natural gas. On Thursday evening Venture Global (VG) disclosed that they’d lost an arbitration case with BP over their Calcasieu Pass LNG terminal. The International Chamber of Commerce (ICC) found that VG had breached its obligation to make a timely declaration of the [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23968/gassy-isnt-happy.mp3" length="3141970" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The last few weeks have been challenging for the bullish story on natural gas. On Thursday evening Venture Global (VG) disclosed that they’d lost an arbitration case with BP over their Calcasieu Pass LNG terminal. The International Chamber of Commerce (ICC) found that VG had breached its obligation to make a timely declaration of the [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:25</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The last few weeks have been challenging for the bullish story on natural gas. On Thursday evening Venture Global (VG) disclosed that they’d lost an arbitration case with BP over their Calcasieu Pass LNG terminal. The International Chamber of Commerce (ICC) found that VG had breached its obligation to make a timely declaration of the [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>BP Navigates Politics With Its Outlook</title>
	<link>https://sl-advisors.com/bp-navigates-politics-with-its-outlook</link>
	<pubDate>Sun, 05 Oct 2025 10:00:59 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23943</guid>
	<description><![CDATA[BP recently published their 2025 Energy Outlook. When big oil producers make projections about consumption it becomes a political document. Climate extremists are quick to accuse companies of opposing the energy transition and consigning the world to ruinous warming. Yet capital commitments need to be based on rational expectations, not aspirational ones. Earlier this year [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[BP recently published their 2025 Energy Outlook. When big oil producers make projections about consumption it becomes a political document. Climate extremists are quick to accuse companies of opposing the energy transition and consigning the world to rui]]></itunes:subtitle>
	<content:encoded><![CDATA[BP recently published their 2025 Energy Outlook. When big oil producers make projections about consumption it becomes a political document. Climate extremists are quick to accuse companies of opposing the energy transition and consigning the world to ruinous warming. Yet capital commitments need to be based on rational expectations, not aspirational ones. Earlier this year [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23943/bp-navigates-politics-with-its-outlook.mp3" length="4202151" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[BP recently published their 2025 Energy Outlook. When big oil producers make projections about consumption it becomes a political document. Climate extremists are quick to accuse companies of opposing the energy transition and consigning the world to ruinous warming. Yet capital commitments need to be based on rational expectations, not aspirational ones. Earlier this year [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:16</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[BP recently published their 2025 Energy Outlook. When big oil producers make projections about consumption it becomes a political document. Climate extremists are quick to accuse companies of opposing the energy transition and consigning the world to ruinous warming. Yet capital commitments need to be based on rational expectations, not aspirational ones. Earlier this year [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Getting Cheaper By Moving Sideways</title>
	<link>https://sl-advisors.com/getting-cheaper-by-moving-sideways</link>
	<pubDate>Sun, 28 Sep 2025 10:00:33 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23917</guid>
	<description><![CDATA[The energy sector is leaving investors unimpressed. YTD the American Energy Independence Index (AEITR) is +5% and seems to be marking time. The S&#38;P500, increasingly dominated by tech and AI exposure, is +13%. Long-time clients, having enjoyed several strong years, hope the better days will soon return. More recent investors demand to know what’s gone [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The energy sector is leaving investors unimpressed. YTD the American Energy Independence Index (AEITR) is +5% and seems to be marking time. The S&#38;P500, increasingly dominated by tech and AI exposure, is +13%. Long-time clients, having enjoyed several]]></itunes:subtitle>
	<content:encoded><![CDATA[The energy sector is leaving investors unimpressed. YTD the American Energy Independence Index (AEITR) is +5% and seems to be marking time. The S&#38;P500, increasingly dominated by tech and AI exposure, is +13%. Long-time clients, having enjoyed several strong years, hope the better days will soon return. More recent investors demand to know what’s gone [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23917/getting-cheaper-by-moving-sideways.mp3" length="2990531" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The energy sector is leaving investors unimpressed. YTD the American Energy Independence Index (AEITR) is +5% and seems to be marking time. The S&#38;P500, increasingly dominated by tech and AI exposure, is +13%. Long-time clients, having enjoyed several strong years, hope the better days will soon return. More recent investors demand to know what’s gone [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:17</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The energy sector is leaving investors unimpressed. YTD the American Energy Independence Index (AEITR) is +5% and seems to be marking time. The S&#38;P500, increasingly dominated by tech and AI exposure, is +13%. Long-time clients, having enjoyed several strong years, hope the better days will soon return. More recent investors demand to know what’s gone [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Get Your Foreign Exposure In America</title>
	<link>https://sl-advisors.com/get-your-foreign-exposure-in-america</link>
	<pubDate>Sun, 21 Sep 2025 10:00:05 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23908</guid>
	<description><![CDATA[Investors are routinely advised to incorporate some international exposure into their portfolios. This can be to add diversification or, in the case of emerging markets, to participate in faster-growing economies. For a US-based investor, this is at best a waste of time. Worse, it can introduce unneeded complexity, cost and poor returns. By investing in [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Investors are routinely advised to incorporate some international exposure into their portfolios. This can be to add diversification or, in the case of emerging markets, to participate in faster-growing economies. For a US-based investor, this is at best]]></itunes:subtitle>
	<content:encoded><![CDATA[Investors are routinely advised to incorporate some international exposure into their portfolios. This can be to add diversification or, in the case of emerging markets, to participate in faster-growing economies. For a US-based investor, this is at best a waste of time. Worse, it can introduce unneeded complexity, cost and poor returns. By investing in [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23908/get-your-foreign-exposure-in-america.mp3" length="2882392" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Investors are routinely advised to incorporate some international exposure into their portfolios. This can be to add diversification or, in the case of emerging markets, to participate in faster-growing economies. For a US-based investor, this is at best a waste of time. Worse, it can introduce unneeded complexity, cost and poor returns. By investing in [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:59</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Investors are routinely advised to incorporate some international exposure into their portfolios. This can be to add diversification or, in the case of emerging markets, to participate in faster-growing economies. For a US-based investor, this is at best a waste of time. Worse, it can introduce unneeded complexity, cost and poor returns. By investing in [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Thoughts On NextDecade</title>
	<link>https://sl-advisors.com/thoughts-on-nextdecade</link>
	<pubDate>Mon, 15 Sep 2025 10:00:51 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23905</guid>
	<description><![CDATA[I’m traveling in Italy and am not so distracted by the cultural and culinary delights to have overlooked the news on NextDecade (NEXT). I’ve watched the subsequent stock price fall with disappointment. They lowered EBITDA guidance on Trains 1-5 from $1.1BN (midpoint of prior $0.9-1.3BN) to $1BN, starting in 2030. Distributable Cash Flow (DCF) is [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[I’m traveling in Italy and am not so distracted by the cultural and culinary delights to have overlooked the news on NextDecade (NEXT). I’ve watched the subsequent stock price fall with disappointment. They lowered EBITDA guidance on Trains 1-5 from $1.1]]></itunes:subtitle>
	<content:encoded><![CDATA[I’m traveling in Italy and am not so distracted by the cultural and culinary delights to have overlooked the news on NextDecade (NEXT). I’ve watched the subsequent stock price fall with disappointment. They lowered EBITDA guidance on Trains 1-5 from $1.1BN (midpoint of prior $0.9-1.3BN) to $1BN, starting in 2030. Distributable Cash Flow (DCF) is [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23905/thoughts-on-nextdecade.mp3" length="1719852" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[I’m traveling in Italy and am not so distracted by the cultural and culinary delights to have overlooked the news on NextDecade (NEXT). I’ve watched the subsequent stock price fall with disappointment. They lowered EBITDA guidance on Trains 1-5 from $1.1BN (midpoint of prior $0.9-1.3BN) to $1BN, starting in 2030. Distributable Cash Flow (DCF) is [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:01:59</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[I’m traveling in Italy and am not so distracted by the cultural and culinary delights to have overlooked the news on NextDecade (NEXT). I’ve watched the subsequent stock price fall with disappointment. They lowered EBITDA guidance on Trains 1-5 from $1.1BN (midpoint of prior $0.9-1.3BN) to $1BN, starting in 2030. Distributable Cash Flow (DCF) is [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Adapting To America’s Low Rate Policy</title>
	<link>https://sl-advisors.com/adapting-to-americas-low-rate-policy</link>
	<pubDate>Sun, 14 Sep 2025 10:00:42 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23891</guid>
	<description><![CDATA[President Trump continues to heap pressure on the FOMC to cut rates, to the alarm of every economist and bond analyst. Central bank independence is the gold standard for western nations, the only way to assure that politicians don’t seek to juice growth synchronized with the election cycle. Fed chair William McChesney Martin Jr, who [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[President Trump continues to heap pressure on the FOMC to cut rates, to the alarm of every economist and bond analyst. Central bank independence is the gold standard for western nations, the only way to assure that politicians don’t seek to juice growth ]]></itunes:subtitle>
	<content:encoded><![CDATA[President Trump continues to heap pressure on the FOMC to cut rates, to the alarm of every economist and bond analyst. Central bank independence is the gold standard for western nations, the only way to assure that politicians don’t seek to juice growth synchronized with the election cycle. Fed chair William McChesney Martin Jr, who [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23891/adapting-to-americas-low-rate-policy.mp3" length="3038091" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[President Trump continues to heap pressure on the FOMC to cut rates, to the alarm of every economist and bond analyst. Central bank independence is the gold standard for western nations, the only way to assure that politicians don’t seek to juice growth synchronized with the election cycle. Fed chair William McChesney Martin Jr, who [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:02</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[President Trump continues to heap pressure on the FOMC to cut rates, to the alarm of every economist and bond analyst. Central bank independence is the gold standard for western nations, the only way to assure that politicians don’t seek to juice growth synchronized with the election cycle. Fed chair William McChesney Martin Jr, who [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Why Lower Oil Prices Will Boost Natural Gas</title>
	<link>https://sl-advisors.com/why-lower-oil-prices-will-boost-natural-gas</link>
	<pubDate>Sun, 07 Sep 2025 10:00:51 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23885</guid>
	<description><![CDATA[Many years ago, when we were researching silver mining companies, I was fascinated to learn how insensitive production and consumption were to prices. Unlike gold, which is mostly held as an investment, silver has many industrial uses. Consumer electronics represents over a third of demand. Silver has few good substitutes and is a comparatively small [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Many years ago, when we were researching silver mining companies, I was fascinated to learn how insensitive production and consumption were to prices. Unlike gold, which is mostly held as an investment, silver has many industrial uses. Consumer electroni]]></itunes:subtitle>
	<content:encoded><![CDATA[Many years ago, when we were researching silver mining companies, I was fascinated to learn how insensitive production and consumption were to prices. Unlike gold, which is mostly held as an investment, silver has many industrial uses. Consumer electronics represents over a third of demand. Silver has few good substitutes and is a comparatively small [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23885/why-lower-oil-prices-will-boost-natural-gas.mp3" length="2760615" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Many years ago, when we were researching silver mining companies, I was fascinated to learn how insensitive production and consumption were to prices. Unlike gold, which is mostly held as an investment, silver has many industrial uses. Consumer electronics represents over a third of demand. Silver has few good substitutes and is a comparatively small [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:42</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Many years ago, when we were researching silver mining companies, I was fascinated to learn how insensitive production and consumption were to prices. Unlike gold, which is mostly held as an investment, silver has many industrial uses. Consumer electronics represents over a third of demand. Silver has few good substitutes and is a comparatively small [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Energetic Outlook For Energy</title>
	<link>https://sl-advisors.com/the-energetic-outlook-for-energy</link>
	<pubDate>Sun, 31 Aug 2025 10:00:29 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23872</guid>
	<description><![CDATA[Goldman Sachs released a report last week forecasting that Brent crude will slip into “the low $50s” by late next year. It currently trades at around $66 per barrel, down $8 from its year-end level end and $11 over the past year. The Energy Information Administration (EIA), in their most recent Short Term Energy Outlook [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Goldman Sachs released a report last week forecasting that Brent crude will slip into “the low $50s” by late next year. It currently trades at around $66 per barrel, down $8 from its year-end level end and $11 over the past year. The Energy Information A]]></itunes:subtitle>
	<content:encoded><![CDATA[Goldman Sachs released a report last week forecasting that Brent crude will slip into “the low $50s” by late next year. It currently trades at around $66 per barrel, down $8 from its year-end level end and $11 over the past year. The Energy Information Administration (EIA), in their most recent Short Term Energy Outlook [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23872/the-energetic-outlook-for-energy.mp3" length="3003034" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Goldman Sachs released a report last week forecasting that Brent crude will slip into “the low $50s” by late next year. It currently trades at around $66 per barrel, down $8 from its year-end level end and $11 over the past year. The Energy Information Administration (EIA), in their most recent Short Term Energy Outlook [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:10</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Goldman Sachs released a report last week forecasting that Brent crude will slip into “the low $50s” by late next year. It currently trades at around $66 per barrel, down $8 from its year-end level end and $11 over the past year. The Energy Information Administration (EIA), in their most recent Short Term Energy Outlook [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Midstream Is Better Under Trump 2.0</title>
	<link>https://sl-advisors.com/midstream-is-better-under-trump-2-0</link>
	<pubDate>Sun, 24 Aug 2025 10:00:08 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23859</guid>
	<description><![CDATA[Now that we’re more than six months into Trump 2.0, comparisons with Trump 1.0 are spreading. For energy investors, Trump’s first term was a huge disappointment compared with the high expectations held by many when he took office. A year ago, as investors pondered the impact of a Kamala Harris presidency, we were often asked [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Now that we’re more than six months into Trump 2.0, comparisons with Trump 1.0 are spreading. For energy investors, Trump’s first term was a huge disappointment compared with the high expectations held by many when he took office. A year ago, as investor]]></itunes:subtitle>
	<content:encoded><![CDATA[Now that we’re more than six months into Trump 2.0, comparisons with Trump 1.0 are spreading. For energy investors, Trump’s first term was a huge disappointment compared with the high expectations held by many when he took office. A year ago, as investors pondered the impact of a Kamala Harris presidency, we were often asked [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23859/midstream-is-better-under-trump-2-0.mp3" length="3138730" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Now that we’re more than six months into Trump 2.0, comparisons with Trump 1.0 are spreading. For energy investors, Trump’s first term was a huge disappointment compared with the high expectations held by many when he took office. A year ago, as investors pondered the impact of a Kamala Harris presidency, we were often asked [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:19</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Now that we’re more than six months into Trump 2.0, comparisons with Trump 1.0 are spreading. For energy investors, Trump’s first term was a huge disappointment compared with the high expectations held by many when he took office. A year ago, as investors pondered the impact of a Kamala Harris presidency, we were often asked [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Legal Boost For Pipelines</title>
	<link>https://sl-advisors.com/the-legal-boost-for-pipelines</link>
	<pubDate>Sun, 17 Aug 2025 10:00:22 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23847</guid>
	<description><![CDATA[Most LNG export terminals are built when three quarters or more of their liquefaction capacity has been pre-sold to customers. This ensures that the project will generate cash needed to repay its financiers, since there’s not much else you can do with it other than export natural gas. Buyers have to pay the agreed liquefaction [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Most LNG export terminals are built when three quarters or more of their liquefaction capacity has been pre-sold to customers. This ensures that the project will generate cash needed to repay its financiers, since there’s not much else you can do with it]]></itunes:subtitle>
	<content:encoded><![CDATA[Most LNG export terminals are built when three quarters or more of their liquefaction capacity has been pre-sold to customers. This ensures that the project will generate cash needed to repay its financiers, since there’s not much else you can do with it other than export natural gas. Buyers have to pay the agreed liquefaction [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23847/the-legal-boost-for-pipelines.mp3" length="3200547" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Most LNG export terminals are built when three quarters or more of their liquefaction capacity has been pre-sold to customers. This ensures that the project will generate cash needed to repay its financiers, since there’s not much else you can do with it other than export natural gas. Buyers have to pay the agreed liquefaction [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:28</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Most LNG export terminals are built when three quarters or more of their liquefaction capacity has been pre-sold to customers. This ensures that the project will generate cash needed to repay its financiers, since there’s not much else you can do with it other than export natural gas. Buyers have to pay the agreed liquefaction [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>AI, Trump And The Yield Curve</title>
	<link>https://sl-advisors.com/ai-trump-and-the-yield-curve</link>
	<pubDate>Sun, 10 Aug 2025 10:00:03 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23829</guid>
	<description><![CDATA[The other day I listened to an interview with the CEO of Anthropic, Dario Amodei, on an Economist magazine podcast. Anthropic is in AI safety and research. They write large language models for sectors including healthcare and financial services. Many people think AI will create such fundamental change that it will eliminate jobs across large [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The other day I listened to an interview with the CEO of Anthropic, Dario Amodei, on an Economist magazine podcast. Anthropic is in AI safety and research. They write large language models for sectors including healthcare and financial services. Many peo]]></itunes:subtitle>
	<content:encoded><![CDATA[The other day I listened to an interview with the CEO of Anthropic, Dario Amodei, on an Economist magazine podcast. Anthropic is in AI safety and research. They write large language models for sectors including healthcare and financial services. Many people think AI will create such fundamental change that it will eliminate jobs across large [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23829/ai-trump-and-the-yield-curve.mp3" length="3298123" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The other day I listened to an interview with the CEO of Anthropic, Dario Amodei, on an Economist magazine podcast. Anthropic is in AI safety and research. They write large language models for sectors including healthcare and financial services. Many people think AI will create such fundamental change that it will eliminate jobs across large [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:38</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The other day I listened to an interview with the CEO of Anthropic, Dario Amodei, on an Economist magazine podcast. Anthropic is in AI safety and research. They write large language models for sectors including healthcare and financial services. Many people think AI will create such fundamental change that it will eliminate jobs across large [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Energy Transfer Helps Kinder Morgan Investors</title>
	<link>https://sl-advisors.com/energy-transfer-helps-kinder-morgan-investors</link>
	<pubDate>Thu, 07 Aug 2025 06:00:19 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23832</guid>
	<description><![CDATA[On Wednesday Energy Transfer (ET) announced plans to extend its Transwestern Pipeline from Waha in the Permian Basin in west Texas to Phoenix. The Desert Southwest expansion project will improve the egress of natural gas from a region where it’s often produced along with crude oil, which is generally more desirable. The pipeline will support [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[On Wednesday Energy Transfer (ET) announced plans to extend its Transwestern Pipeline from Waha in the Permian Basin in west Texas to Phoenix. The Desert Southwest expansion project will improve the egress of natural gas from a region where it’s often pr]]></itunes:subtitle>
	<content:encoded><![CDATA[On Wednesday Energy Transfer (ET) announced plans to extend its Transwestern Pipeline from Waha in the Permian Basin in west Texas to Phoenix. The Desert Southwest expansion project will improve the egress of natural gas from a region where it’s often produced along with crude oil, which is generally more desirable. The pipeline will support [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23832/energy-transfer-helps-kinder-morgan-investors.mp3" length="1561257" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[On Wednesday Energy Transfer (ET) announced plans to extend its Transwestern Pipeline from Waha in the Permian Basin in west Texas to Phoenix. The Desert Southwest expansion project will improve the egress of natural gas from a region where it’s often produced along with crude oil, which is generally more desirable. The pipeline will support [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:02:24</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[On Wednesday Energy Transfer (ET) announced plans to extend its Transwestern Pipeline from Waha in the Permian Basin in west Texas to Phoenix. The Desert Southwest expansion project will improve the egress of natural gas from a region where it’s often produced along with crude oil, which is generally more desirable. The pipeline will support [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Every Issue Is Linked To Trade</title>
	<link>https://sl-advisors.com/every-issue-is-linked-to-trade</link>
	<pubDate>Sun, 03 Aug 2025 10:00:19 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23823</guid>
	<description><![CDATA[July was action-packed for LNG names. On July 11 Morgan Stanley raised their price target on NextDecade (NEXT) to $15, having last moved it to $10 in October 2022. The stock rose 18% to $10.77 on the news and added further gains during the month. Morgan Stanley’s upgrade was the only news of note, but [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[July was action-packed for LNG names. On July 11 Morgan Stanley raised their price target on NextDecade (NEXT) to $15, having last moved it to $10 in October 2022. The stock rose 18% to $10.77 on the news and added further gains during the month. Morgan ]]></itunes:subtitle>
	<content:encoded><![CDATA[July was action-packed for LNG names. On July 11 Morgan Stanley raised their price target on NextDecade (NEXT) to $15, having last moved it to $10 in October 2022. The stock rose 18% to $10.77 on the news and added further gains during the month. Morgan Stanley’s upgrade was the only news of note, but [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23823/every-issue-is-linked-to-trade.mp3" length="2792956" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[July was action-packed for LNG names. On July 11 Morgan Stanley raised their price target on NextDecade (NEXT) to $15, having last moved it to $10 in October 2022. The stock rose 18% to $10.77 on the news and added further gains during the month. Morgan Stanley’s upgrade was the only news of note, but [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:51</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[July was action-packed for LNG names. On July 11 Morgan Stanley raised their price target on NextDecade (NEXT) to $15, having last moved it to $10 in October 2022. The stock rose 18% to $10.77 on the news and added further gains during the month. Morgan Stanley’s upgrade was the only news of note, but [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Trade Deals Boost LNG Stocks</title>
	<link>https://sl-advisors.com/trade-deals-boost-lng-stocks</link>
	<pubDate>Wed, 30 Jul 2025 10:00:55 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23818</guid>
	<description><![CDATA[European Commission president Ursula von der Leyen described the US-EU trade agreement as “huge”, demonstrating a helpful grasp of President’s Trump’s lexicon. The imposition of tariffs and the threat of punitive ones has gone remarkably smoothly. That may not always be so, but for now markets are buoyant and inflation only modestly higher. The White [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[European Commission president Ursula von der Leyen described the US-EU trade agreement as “huge”, demonstrating a helpful grasp of President’s Trump’s lexicon. The imposition of tariffs and the threat of punitive ones has gone remarkably smoothly. That m]]></itunes:subtitle>
	<content:encoded><![CDATA[European Commission president Ursula von der Leyen described the US-EU trade agreement as “huge”, demonstrating a helpful grasp of President’s Trump’s lexicon. The imposition of tariffs and the threat of punitive ones has gone remarkably smoothly. That may not always be so, but for now markets are buoyant and inflation only modestly higher. The White [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23818/trade-deals-boost-lng-stocks.mp3" length="3512124" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[European Commission president Ursula von der Leyen described the US-EU trade agreement as “huge”, demonstrating a helpful grasp of President’s Trump’s lexicon. The imposition of tariffs and the threat of punitive ones has gone remarkably smoothly. That may not always be so, but for now markets are buoyant and inflation only modestly higher. The White [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:58</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[European Commission president Ursula von der Leyen described the US-EU trade agreement as “huge”, demonstrating a helpful grasp of President’s Trump’s lexicon. The imposition of tariffs and the threat of punitive ones has gone remarkably smoothly. That may not always be so, but for now markets are buoyant and inflation only modestly higher. The White [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Another Power Auction Hikes Electricity Prices</title>
	<link>https://sl-advisors.com/another-power-auction-hikes-electricity-prices</link>
	<pubDate>Sun, 27 Jul 2025 10:00:45 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23803</guid>
	<description><![CDATA[PJM Interconnection announced the results of their capacity auction last week. This is where suppliers of electricity quote prices to provide surge capacity for periods of high demand (typically hot summer days). It used to be uneventful until last year, when the clearing price was 9X higher than before. This led to the price hikes [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[PJM Interconnection announced the results of their capacity auction last week. This is where suppliers of electricity quote prices to provide surge capacity for periods of high demand (typically hot summer days). It used to be uneventful until last year,]]></itunes:subtitle>
	<content:encoded><![CDATA[PJM Interconnection announced the results of their capacity auction last week. This is where suppliers of electricity quote prices to provide surge capacity for periods of high demand (typically hot summer days). It used to be uneventful until last year, when the clearing price was 9X higher than before. This led to the price hikes [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23803/another-power-auction-hikes-electricity-prices.mp3" length="3045405" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[PJM Interconnection announced the results of their capacity auction last week. This is where suppliers of electricity quote prices to provide surge capacity for periods of high demand (typically hot summer days). It used to be uneventful until last year, when the clearing price was 9X higher than before. This led to the price hikes [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:04</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[PJM Interconnection announced the results of their capacity auction last week. This is where suppliers of electricity quote prices to provide surge capacity for periods of high demand (typically hot summer days). It used to be uneventful until last year, when the clearing price was 9X higher than before. This led to the price hikes [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Energy Is Wall Street’s Favorite Sector</title>
	<link>https://sl-advisors.com/energy-is-wall-streets-favorite-sector</link>
	<pubDate>Wed, 23 Jul 2025 10:00:13 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23794</guid>
	<description><![CDATA[The revenue and earnings outlook for the energy sector has deteriorated this year. Alone among the S&#38;P 500’s eleven sectors, FactSet shows declining revenues of –9.6% when companies report for the second quarter based on bottom-up analyst forecasts. 2025 opened with high expectations following Trump’s election victory. And while the White House has followed through [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The revenue and earnings outlook for the energy sector has deteriorated this year. Alone among the S&#38;P 500’s eleven sectors, FactSet shows declining revenues of –9.6% when companies report for the second quarter based on bottom-up analyst forecasts. ]]></itunes:subtitle>
	<content:encoded><![CDATA[The revenue and earnings outlook for the energy sector has deteriorated this year. Alone among the S&#38;P 500’s eleven sectors, FactSet shows declining revenues of –9.6% when companies report for the second quarter based on bottom-up analyst forecasts. 2025 opened with high expectations following Trump’s election victory. And while the White House has followed through [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23794/energy-is-wall-streets-favorite-sector.mp3" length="2884424" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The revenue and earnings outlook for the energy sector has deteriorated this year. Alone among the S&#38;P 500’s eleven sectors, FactSet shows declining revenues of –9.6% when companies report for the second quarter based on bottom-up analyst forecasts. 2025 opened with high expectations following Trump’s election victory. And while the White House has followed through [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:57</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The revenue and earnings outlook for the energy sector has deteriorated this year. Alone among the S&#38;P 500’s eleven sectors, FactSet shows declining revenues of –9.6% when companies report for the second quarter based on bottom-up analyst forecasts. 2025 opened with high expectations following Trump’s election victory. And while the White House has followed through [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Not All Growth Projects Are Good</title>
	<link>https://sl-advisors.com/not-all-growth-projects-are-good</link>
	<pubDate>Sun, 20 Jul 2025 10:00:20 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23775</guid>
	<description><![CDATA[Kinder Morgan (KMI) kicked off pipeline earnings season last week, as they do every quarter. Their adjusted EBITDA came in a little ahead of expectations at $1.97BN vs $1.95BN. Management guidance was positive.   LNG exports and data center power needs are the two growth drivers for natural gas pipelines. KMI’s Trident Intrastate Pipeline secured [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Kinder Morgan (KMI) kicked off pipeline earnings season last week, as they do every quarter. Their adjusted EBITDA came in a little ahead of expectations at $1.97BN vs $1.95BN. Management guidance was positive.   LNG exports and data center power needs a]]></itunes:subtitle>
	<content:encoded><![CDATA[Kinder Morgan (KMI) kicked off pipeline earnings season last week, as they do every quarter. Their adjusted EBITDA came in a little ahead of expectations at $1.97BN vs $1.95BN. Management guidance was positive.   LNG exports and data center power needs are the two growth drivers for natural gas pipelines. KMI’s Trident Intrastate Pipeline secured [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23775/not-all-growth-projects-are-good.mp3" length="3109387" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Kinder Morgan (KMI) kicked off pipeline earnings season last week, as they do every quarter. Their adjusted EBITDA came in a little ahead of expectations at $1.97BN vs $1.95BN. Management guidance was positive.   LNG exports and data center power needs are the two growth drivers for natural gas pipelines. KMI’s Trident Intrastate Pipeline secured [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:22</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Kinder Morgan (KMI) kicked off pipeline earnings season last week, as they do every quarter. Their adjusted EBITDA came in a little ahead of expectations at $1.97BN vs $1.95BN. Management guidance was positive.   LNG exports and data center power needs are the two growth drivers for natural gas pipelines. KMI’s Trident Intrastate Pipeline secured [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Next Leg Up</title>
	<link>https://sl-advisors.com/next-leg-up</link>
	<pubDate>Wed, 16 Jul 2025 10:00:47 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23766</guid>
	<description><![CDATA[Morgan Stanley’s bullish report on US LNG stocks last week gave the sector a lift. The biggest impact was felt by NextDecade (NEXT), which was up 17%, bringing its market cap to $2.8BN. NEXT is still a small cap stock with no dividend, unusual for the midstream sector which is dominated by large-cap, investment grade [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Morgan Stanley’s bullish report on US LNG stocks last week gave the sector a lift. The biggest impact was felt by NextDecade (NEXT), which was up 17%, bringing its market cap to $2.8BN. NEXT is still a small cap stock with no dividend, unusual for the mi]]></itunes:subtitle>
	<content:encoded><![CDATA[Morgan Stanley’s bullish report on US LNG stocks last week gave the sector a lift. The biggest impact was felt by NextDecade (NEXT), which was up 17%, bringing its market cap to $2.8BN. NEXT is still a small cap stock with no dividend, unusual for the midstream sector which is dominated by large-cap, investment grade [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23766/next-leg-up.mp3" length="2951158" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Morgan Stanley’s bullish report on US LNG stocks last week gave the sector a lift. The biggest impact was felt by NextDecade (NEXT), which was up 17%, bringing its market cap to $2.8BN. NEXT is still a small cap stock with no dividend, unusual for the midstream sector which is dominated by large-cap, investment grade [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:08</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Morgan Stanley’s bullish report on US LNG stocks last week gave the sector a lift. The biggest impact was felt by NextDecade (NEXT), which was up 17%, bringing its market cap to $2.8BN. NEXT is still a small cap stock with no dividend, unusual for the midstream sector which is dominated by large-cap, investment grade [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Power Auctions Are Getting Interesting</title>
	<link>https://sl-advisors.com/power-auctions-are-getting-interesting</link>
	<pubDate>Sun, 13 Jul 2025 10:00:00 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23755</guid>
	<description><![CDATA[Last Wednesday PJM Interconnection began their Capacity Auction. PJM runs the largest electricity grid in the US, extending from the east coast as far west as Illinois. The auction sources commitments for surge capacity, to ensure that even during times of high demand the system can meet the need for power. Capacity auctions haven’t historically [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Last Wednesday PJM Interconnection began their Capacity Auction. PJM runs the largest electricity grid in the US, extending from the east coast as far west as Illinois. The auction sources commitments for surge capacity, to ensure that even during times ]]></itunes:subtitle>
	<content:encoded><![CDATA[Last Wednesday PJM Interconnection began their Capacity Auction. PJM runs the largest electricity grid in the US, extending from the east coast as far west as Illinois. The auction sources commitments for surge capacity, to ensure that even during times of high demand the system can meet the need for power. Capacity auctions haven’t historically [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23755/power-auctions-are-getting-interesting.mp3" length="2813852" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Last Wednesday PJM Interconnection began their Capacity Auction. PJM runs the largest electricity grid in the US, extending from the east coast as far west as Illinois. The auction sources commitments for surge capacity, to ensure that even during times of high demand the system can meet the need for power. Capacity auctions haven’t historically [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:34</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Last Wednesday PJM Interconnection began their Capacity Auction. PJM runs the largest electricity grid in the US, extending from the east coast as far west as Illinois. The auction sources commitments for surge capacity, to ensure that even during times of high demand the system can meet the need for power. Capacity auctions haven’t historically [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Reliable Energy Is Mainstream Again</title>
	<link>https://sl-advisors.com/reliable-energy-is-mainstream-again</link>
	<pubDate>Wed, 09 Jul 2025 10:00:30 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23748</guid>
	<description><![CDATA[The ending of many renewables subsidies in the One Big Beautiful Bill (OBBB) is being hailed as a win for the oil and gas industry. The WSJ wrote, The Moment the Clean-Energy Boom Ran Into ‘Drill, Baby, Drill’, suggesting that oil production will benefit. But in reality it’s about electricity generation, and oil produced just [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The ending of many renewables subsidies in the One Big Beautiful Bill (OBBB) is being hailed as a win for the oil and gas industry. The WSJ wrote, The Moment the Clean-Energy Boom Ran Into ‘Drill, Baby, Drill’, suggesting that oil production will benefit]]></itunes:subtitle>
	<content:encoded><![CDATA[The ending of many renewables subsidies in the One Big Beautiful Bill (OBBB) is being hailed as a win for the oil and gas industry. The WSJ wrote, The Moment the Clean-Energy Boom Ran Into ‘Drill, Baby, Drill’, suggesting that oil production will benefit. But in reality it’s about electricity generation, and oil produced just [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23748/reliable-energy-is-mainstream-again.mp3" length="3165297" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The ending of many renewables subsidies in the One Big Beautiful Bill (OBBB) is being hailed as a win for the oil and gas industry. The WSJ wrote, The Moment the Clean-Energy Boom Ran Into ‘Drill, Baby, Drill’, suggesting that oil production will benefit. But in reality it’s about electricity generation, and oil produced just [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:26</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The ending of many renewables subsidies in the One Big Beautiful Bill (OBBB) is being hailed as a win for the oil and gas industry. The WSJ wrote, The Moment the Clean-Energy Boom Ran Into ‘Drill, Baby, Drill’, suggesting that oil production will benefit. But in reality it’s about electricity generation, and oil produced just [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Anniversary Celebrations</title>
	<link>https://sl-advisors.com/anniversary-celebrations</link>
	<pubDate>Sun, 06 Jul 2025 10:00:14 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23738</guid>
	<description><![CDATA[Around this time of year, I’m often asked if we celebrate July 4th. Since it is the anniversary of America’s Declaration of Independence, in Britain it receives scant attention. But I often note that had the war turned out differently I might not have emigrated to America in 1982. We have much to celebrate in [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Around this time of year, I’m often asked if we celebrate July 4th. Since it is the anniversary of America’s Declaration of Independence, in Britain it receives scant attention. But I often note that had the war turned out differently I might not have em]]></itunes:subtitle>
	<content:encoded><![CDATA[Around this time of year, I’m often asked if we celebrate July 4th. Since it is the anniversary of America’s Declaration of Independence, in Britain it receives scant attention. But I often note that had the war turned out differently I might not have emigrated to America in 1982. We have much to celebrate in [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23738/anniversary-celebrations.mp3" length="4581288" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Around this time of year, I’m often asked if we celebrate July 4th. Since it is the anniversary of America’s Declaration of Independence, in Britain it receives scant attention. But I often note that had the war turned out differently I might not have emigrated to America in 1982. We have much to celebrate in [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:07</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Around this time of year, I’m often asked if we celebrate July 4th. Since it is the anniversary of America’s Declaration of Independence, in Britain it receives scant attention. But I often note that had the war turned out differently I might not have emigrated to America in 1982. We have much to celebrate in [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Gas Kept Us Cool Last Week</title>
	<link>https://sl-advisors.com/gas-kept-us-cool-last-week</link>
	<pubDate>Wed, 02 Jul 2025 10:00:28 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23726</guid>
	<description><![CDATA[Our power infrastructure survived last week’s heatwave, which saw the PJM Interconnect system peak at an almost twenty year high of 160,560 Megawatts on June 23. Natural gas provided 44% of generation, with solar at 6%. The ISO-NE system that covers New England saw peak demand a day later. This was met 47% by natural [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Our power infrastructure survived last week’s heatwave, which saw the PJM Interconnect system peak at an almost twenty year high of 160,560 Megawatts on June 23. Natural gas provided 44% of generation, with solar at 6%. The ISO-NE system that covers New ]]></itunes:subtitle>
	<content:encoded><![CDATA[Our power infrastructure survived last week’s heatwave, which saw the PJM Interconnect system peak at an almost twenty year high of 160,560 Megawatts on June 23. Natural gas provided 44% of generation, with solar at 6%. The ISO-NE system that covers New England saw peak demand a day later. This was met 47% by natural [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23726/gas-kept-us-cool-last-week.mp3" length="3020272" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Our power infrastructure survived last week’s heatwave, which saw the PJM Interconnect system peak at an almost twenty year high of 160,560 Megawatts on June 23. Natural gas provided 44% of generation, with solar at 6%. The ISO-NE system that covers New England saw peak demand a day later. This was met 47% by natural [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:01</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Our power infrastructure survived last week’s heatwave, which saw the PJM Interconnect system peak at an almost twenty year high of 160,560 Megawatts on June 23. Natural gas provided 44% of generation, with solar at 6%. The ISO-NE system that covers New England saw peak demand a day later. This was met 47% by natural [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Energy By The Numbers</title>
	<link>https://sl-advisors.com/energy-by-the-numbers-2</link>
	<pubDate>Sun, 29 Jun 2025 10:00:58 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23714</guid>
	<description><![CDATA[The Energy Institute’s (EI) Statistical Review of World Energy provides a wonderfully detailed view of what’s actually happening, mostly untainted by any political bias. The world is using more of all kinds of energy, raising living standards across the developing world. Hydrocarbons still dominate and will for the foreseeable future.  There’s still a tendency even at [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The Energy Institute’s (EI) Statistical Review of World Energy provides a wonderfully detailed view of what’s actually happening, mostly untainted by any political bias. The world is using more of all kinds of energy, raising living standards across the ]]></itunes:subtitle>
	<content:encoded><![CDATA[The Energy Institute’s (EI) Statistical Review of World Energy provides a wonderfully detailed view of what’s actually happening, mostly untainted by any political bias. The world is using more of all kinds of energy, raising living standards across the developing world. Hydrocarbons still dominate and will for the foreseeable future.  There’s still a tendency even at [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23714/energy-by-the-numbers-2.mp3" length="3092885" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The Energy Institute’s (EI) Statistical Review of World Energy provides a wonderfully detailed view of what’s actually happening, mostly untainted by any political bias. The world is using more of all kinds of energy, raising living standards across the developing world. Hydrocarbons still dominate and will for the foreseeable future.  There’s still a tendency even at [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:19</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The Energy Institute’s (EI) Statistical Review of World Energy provides a wonderfully detailed view of what’s actually happening, mostly untainted by any political bias. The world is using more of all kinds of energy, raising living standards across the developing world. Hydrocarbons still dominate and will for the foreseeable future.  There’s still a tendency even at [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Coping With Heat</title>
	<link>https://sl-advisors.com/coping-with-heat</link>
	<pubDate>Wed, 25 Jun 2025 10:00:58 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23708</guid>
	<description><![CDATA[This is the time of year when liberal news outlets warn of irreversible climate change. We spent a couple of days in Naples, FL which was, unusually, cooler than New Jersey. The daily afternoon thunderstorms that accompany hurricane season moderate the heat. When I first moved to New York from London in 1982 I remember [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[This is the time of year when liberal news outlets warn of irreversible climate change. We spent a couple of days in Naples, FL which was, unusually, cooler than New Jersey. The daily afternoon thunderstorms that accompany hurricane season moderate the h]]></itunes:subtitle>
	<content:encoded><![CDATA[This is the time of year when liberal news outlets warn of irreversible climate change. We spent a couple of days in Naples, FL which was, unusually, cooler than New Jersey. The daily afternoon thunderstorms that accompany hurricane season moderate the heat. When I first moved to New York from London in 1982 I remember [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23708/coping-with-heat.mp3" length="3294001" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[This is the time of year when liberal news outlets warn of irreversible climate change. We spent a couple of days in Naples, FL which was, unusually, cooler than New Jersey. The daily afternoon thunderstorms that accompany hurricane season moderate the heat. When I first moved to New York from London in 1982 I remember [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:33</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[This is the time of year when liberal news outlets warn of irreversible climate change. We spent a couple of days in Naples, FL which was, unusually, cooler than New Jersey. The daily afternoon thunderstorms that accompany hurricane season moderate the heat. When I first moved to New York from London in 1982 I remember [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>LNG Keeps Growing</title>
	<link>https://sl-advisors.com/lng-keeps-growing</link>
	<pubDate>Sun, 22 Jun 2025 10:00:00 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23693</guid>
	<description><![CDATA[Conflict in the Middle East invariably leads to concern about disruption to crude supplies that pass through the Strait of Hormuz. Oil prices duly rose once Israel launched its surprise attack on Iran. Around 20% of total oil consumption comes through this narrow waterway. It’s unlikely Iran could close it for long if at all.   [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Conflict in the Middle East invariably leads to concern about disruption to crude supplies that pass through the Strait of Hormuz. Oil prices duly rose once Israel launched its surprise attack on Iran. Around 20% of total oil consumption comes through th]]></itunes:subtitle>
	<content:encoded><![CDATA[Conflict in the Middle East invariably leads to concern about disruption to crude supplies that pass through the Strait of Hormuz. Oil prices duly rose once Israel launched its surprise attack on Iran. Around 20% of total oil consumption comes through this narrow waterway. It’s unlikely Iran could close it for long if at all.   [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23693/lng-keeps-growing.mp3" length="3010110" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Conflict in the Middle East invariably leads to concern about disruption to crude supplies that pass through the Strait of Hormuz. Oil prices duly rose once Israel launched its surprise attack on Iran. Around 20% of total oil consumption comes through this narrow waterway. It’s unlikely Iran could close it for long if at all.   [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:13</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Conflict in the Middle East invariably leads to concern about disruption to crude supplies that pass through the Strait of Hormuz. Oil prices duly rose once Israel launched its surprise attack on Iran. Around 20% of total oil consumption comes through this narrow waterway. It’s unlikely Iran could close it for long if at all.   [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>US Midstream Is Far From Conflict</title>
	<link>https://sl-advisors.com/us-midstream-is-far-from-conflict</link>
	<pubDate>Wed, 18 Jun 2025 10:00:50 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23686</guid>
	<description><![CDATA[To trade the daily moves in the market is to be an armchair strategist. JPMorgan estimates the crude oil market reflects a 17% probability of a worst-case supply disruption out of the Middle East. Presumably an oil spike would hasten the war’s conclusion via US pressure on Israel. So Israel’s attacks on energy infrastructure are [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[To trade the daily moves in the market is to be an armchair strategist. JPMorgan estimates the crude oil market reflects a 17% probability of a worst-case supply disruption out of the Middle East. Presumably an oil spike would hasten the war’s conclusion]]></itunes:subtitle>
	<content:encoded><![CDATA[To trade the daily moves in the market is to be an armchair strategist. JPMorgan estimates the crude oil market reflects a 17% probability of a worst-case supply disruption out of the Middle East. Presumably an oil spike would hasten the war’s conclusion via US pressure on Israel. So Israel’s attacks on energy infrastructure are [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23686/us-midstream-is-far-from-conflict.mp3" length="2894825" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[To trade the daily moves in the market is to be an armchair strategist. JPMorgan estimates the crude oil market reflects a 17% probability of a worst-case supply disruption out of the Middle East. Presumably an oil spike would hasten the war’s conclusion via US pressure on Israel. So Israel’s attacks on energy infrastructure are [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:57</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[To trade the daily moves in the market is to be an armchair strategist. JPMorgan estimates the crude oil market reflects a 17% probability of a worst-case supply disruption out of the Middle East. Presumably an oil spike would hasten the war’s conclusion via US pressure on Israel. So Israel’s attacks on energy infrastructure are [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Strengthening Your Portfolio With Pipelines</title>
	<link>https://sl-advisors.com/strengthening-your-portfolio-with-pipelines</link>
	<pubDate>Sun, 15 Jun 2025 10:00:14 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23672</guid>
	<description><![CDATA[When conflict occurs that might disrupt global oil supplies, portfolios that include an allocation to midstream energy infrastructure usually enjoy some modest protection. Crude traded up 14% on Thursday night as the Israeli attack unfolded. Some opportunistic hedging by producers trimmed those gains during the day. Energy stocks as usual responded positively. The effect on [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[When conflict occurs that might disrupt global oil supplies, portfolios that include an allocation to midstream energy infrastructure usually enjoy some modest protection. Crude traded up 14% on Thursday night as the Israeli attack unfolded. Some opportu]]></itunes:subtitle>
	<content:encoded><![CDATA[When conflict occurs that might disrupt global oil supplies, portfolios that include an allocation to midstream energy infrastructure usually enjoy some modest protection. Crude traded up 14% on Thursday night as the Israeli attack unfolded. Some opportunistic hedging by producers trimmed those gains during the day. Energy stocks as usual responded positively. The effect on [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23672/strengthening-your-portfolio-with-pipelines.mp3" length="2839158" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[When conflict occurs that might disrupt global oil supplies, portfolios that include an allocation to midstream energy infrastructure usually enjoy some modest protection. Crude traded up 14% on Thursday night as the Israeli attack unfolded. Some opportunistic hedging by producers trimmed those gains during the day. Energy stocks as usual responded positively. The effect on [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:47</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[When conflict occurs that might disrupt global oil supplies, portfolios that include an allocation to midstream energy infrastructure usually enjoy some modest protection. Crude traded up 14% on Thursday night as the Israeli attack unfolded. Some opportunistic hedging by producers trimmed those gains during the day. Energy stocks as usual responded positively. The effect on [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Ethane Standoff</title>
	<link>https://sl-advisors.com/the-ethane-standoff</link>
	<pubDate>Wed, 11 Jun 2025 10:00:44 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23664</guid>
	<description><![CDATA[All over the world plastics are manufactured using derivatives of crude oil. Along with cement, steel and fertilizer these are what Vaclav Smil refers to as the four pillars of civilization. Modern life couldn’t exist without them. Renewables are largely irrelevant to their production. Anybody who studies how we use hydrocarbons must conclude, as we [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[All over the world plastics are manufactured using derivatives of crude oil. Along with cement, steel and fertilizer these are what Vaclav Smil refers to as the four pillars of civilization. Modern life couldn’t exist without them. Renewables are largely]]></itunes:subtitle>
	<content:encoded><![CDATA[All over the world plastics are manufactured using derivatives of crude oil. Along with cement, steel and fertilizer these are what Vaclav Smil refers to as the four pillars of civilization. Modern life couldn’t exist without them. Renewables are largely irrelevant to their production. Anybody who studies how we use hydrocarbons must conclude, as we [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23664/the-ethane-standoff.mp3" length="2941230" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[All over the world plastics are manufactured using derivatives of crude oil. Along with cement, steel and fertilizer these are what Vaclav Smil refers to as the four pillars of civilization. Modern life couldn’t exist without them. Renewables are largely irrelevant to their production. Anybody who studies how we use hydrocarbons must conclude, as we [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:56</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[All over the world plastics are manufactured using derivatives of crude oil. Along with cement, steel and fertilizer these are what Vaclav Smil refers to as the four pillars of civilization. Modern life couldn’t exist without them. Renewables are largely irrelevant to their production. Anybody who studies how we use hydrocarbons must conclude, as we [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Gas Exporters Keep Growing</title>
	<link>https://sl-advisors.com/gas-exporters-keep-growing</link>
	<pubDate>Sun, 08 Jun 2025 10:00:28 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23653</guid>
	<description><![CDATA[Venture Global (VG) continued its post-IPO recovery last week. Back in January price talk was above $50 which would have valued the company at double market leader Cheniere. Pushback from institutional investors reduced the IPO price to $25, but it quickly sank below this (see Nothing Ventured, Nothing Gained). VG has earned a reputation for [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Venture Global (VG) continued its post-IPO recovery last week. Back in January price talk was above $50 which would have valued the company at double market leader Cheniere. Pushback from institutional investors reduced the IPO price to $25, but it quick]]></itunes:subtitle>
	<content:encoded><![CDATA[Venture Global (VG) continued its post-IPO recovery last week. Back in January price talk was above $50 which would have valued the company at double market leader Cheniere. Pushback from institutional investors reduced the IPO price to $25, but it quickly sank below this (see Nothing Ventured, Nothing Gained). VG has earned a reputation for [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23653/gas-exporters-keep-growing.mp3" length="3100375" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Venture Global (VG) continued its post-IPO recovery last week. Back in January price talk was above $50 which would have valued the company at double market leader Cheniere. Pushback from institutional investors reduced the IPO price to $25, but it quickly sank below this (see Nothing Ventured, Nothing Gained). VG has earned a reputation for [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:19</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Venture Global (VG) continued its post-IPO recovery last week. Back in January price talk was above $50 which would have valued the company at double market leader Cheniere. Pushback from institutional investors reduced the IPO price to $25, but it quickly sank below this (see Nothing Ventured, Nothing Gained). VG has earned a reputation for [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Did Ukraine Boost Oil Prices?</title>
	<link>https://sl-advisors.com/did-ukraine-boost-oil-prices</link>
	<pubDate>Wed, 04 Jun 2025 10:00:51 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23641</guid>
	<description><![CDATA[Macro issues are driving the market even more than usual. Pipeline earnings came with barely a ripple as companies once again generally hit or modestly exceeded guidance. Crude oil rose on Monday on news that OPEC+ was planning a smaller than expected increase in output. This coincided with Ukraine’s spectacular attack on four Russian air [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Macro issues are driving the market even more than usual. Pipeline earnings came with barely a ripple as companies once again generally hit or modestly exceeded guidance. Crude oil rose on Monday on news that OPEC+ was planning a smaller than expected in]]></itunes:subtitle>
	<content:encoded><![CDATA[Macro issues are driving the market even more than usual. Pipeline earnings came with barely a ripple as companies once again generally hit or modestly exceeded guidance. Crude oil rose on Monday on news that OPEC+ was planning a smaller than expected increase in output. This coincided with Ukraine’s spectacular attack on four Russian air [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23641/did-ukraine-boost-oil-prices.mp3" length="2932074" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Macro issues are driving the market even more than usual. Pipeline earnings came with barely a ripple as companies once again generally hit or modestly exceeded guidance. Crude oil rose on Monday on news that OPEC+ was planning a smaller than expected increase in output. This coincided with Ukraine’s spectacular attack on four Russian air [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:03</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Macro issues are driving the market even more than usual. Pipeline earnings came with barely a ripple as companies once again generally hit or modestly exceeded guidance. Crude oil rose on Monday on news that OPEC+ was planning a smaller than expected increase in output. This coincided with Ukraine’s spectacular attack on four Russian air [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The World’s Only Shale Revolution</title>
	<link>https://sl-advisors.com/the-worlds-only-shale-revolution</link>
	<pubDate>Sun, 01 Jun 2025 10:00:39 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23629</guid>
	<description><![CDATA[In conversations with investors the Shale Revolution is acknowledged as driving US hydrocarbon production up. What is less appreciated is how much this has been a US phenomenon, with no equal anywhere else in the world. The technologies of hydraulic fracturing (“fracking”) and horizontal drilling were developed sufficiently that they allowed access to enormous reserves [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[In conversations with investors the Shale Revolution is acknowledged as driving US hydrocarbon production up. What is less appreciated is how much this has been a US phenomenon, with no equal anywhere else in the world. The technologies of hydraulic frac]]></itunes:subtitle>
	<content:encoded><![CDATA[In conversations with investors the Shale Revolution is acknowledged as driving US hydrocarbon production up. What is less appreciated is how much this has been a US phenomenon, with no equal anywhere else in the world. The technologies of hydraulic fracturing (“fracking”) and horizontal drilling were developed sufficiently that they allowed access to enormous reserves [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23629/the-worlds-only-shale-revolution.mp3" length="2827663" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[In conversations with investors the Shale Revolution is acknowledged as driving US hydrocarbon production up. What is less appreciated is how much this has been a US phenomenon, with no equal anywhere else in the world. The technologies of hydraulic fracturing (“fracking”) and horizontal drilling were developed sufficiently that they allowed access to enormous reserves [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:57</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[In conversations with investors the Shale Revolution is acknowledged as driving US hydrocarbon production up. What is less appreciated is how much this has been a US phenomenon, with no equal anywhere else in the world. The technologies of hydraulic fracturing (“fracking”) and horizontal drilling were developed sufficiently that they allowed access to enormous reserves [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Investors Warm To Gas Exposure</title>
	<link>https://sl-advisors.com/investors-warm-to-gas-exposure</link>
	<pubDate>Wed, 28 May 2025 10:00:11 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23618</guid>
	<description><![CDATA[The mood was reportedly upbeat at the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference (known as the EIC) in Aventura, FL last week. Performance has been good. The American Energy Independence Index, which reflects the overall industry, has a five year trailing return of 27% pa, easily beating the S&#38;P500’s 16%. Management teams provided [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The mood was reportedly upbeat at the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference (known as the EIC) in Aventura, FL last week. Performance has been good. The American Energy Independence Index, which reflects the overall industry, ha]]></itunes:subtitle>
	<content:encoded><![CDATA[The mood was reportedly upbeat at the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference (known as the EIC) in Aventura, FL last week. Performance has been good. The American Energy Independence Index, which reflects the overall industry, has a five year trailing return of 27% pa, easily beating the S&#38;P500’s 16%. Management teams provided [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23618/investors-warm-to-gas-exposure.mp3" length="3058369" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The mood was reportedly upbeat at the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference (known as the EIC) in Aventura, FL last week. Performance has been good. The American Energy Independence Index, which reflects the overall industry, has a five year trailing return of 27% pa, easily beating the S&#38;P500’s 16%. Management teams provided [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:16</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The mood was reportedly upbeat at the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference (known as the EIC) in Aventura, FL last week. Performance has been good. The American Energy Independence Index, which reflects the overall industry, has a five year trailing return of 27% pa, easily beating the S&#38;P500’s 16%. Management teams provided [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Notes From The Midstream Industry Conference</title>
	<link>https://sl-advisors.com/notes-from-the-midstream-industry-conference</link>
	<pubDate>Sun, 25 May 2025 10:00:32 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23612</guid>
	<description><![CDATA[My partner Henry Hoffman attended the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference in Aventura, FL last week. Below are Henry’s notes from presentations and meetings. The mood at this year’s conference was upbeat, with natural gas demand driven by data center power requirements and the next wave of LNG projects taking center stage. [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[My partner Henry Hoffman attended the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference in Aventura, FL last week. Below are Henry’s notes from presentations and meetings. The mood at this year’s conference was upbeat, with natural gas dema]]></itunes:subtitle>
	<content:encoded><![CDATA[My partner Henry Hoffman attended the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference in Aventura, FL last week. Below are Henry’s notes from presentations and meetings. The mood at this year’s conference was upbeat, with natural gas demand driven by data center power requirements and the next wave of LNG projects taking center stage. [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23612/notes-from-the-midstream-industry-conference.mp3" length="3404729" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[My partner Henry Hoffman attended the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference in Aventura, FL last week. Below are Henry’s notes from presentations and meetings. The mood at this year’s conference was upbeat, with natural gas demand driven by data center power requirements and the next wave of LNG projects taking center stage. [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:52</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[My partner Henry Hoffman attended the 22nd Annual Energy Infrastructure CEO &#38; Investor Conference in Aventura, FL last week. Below are Henry’s notes from presentations and meetings. The mood at this year’s conference was upbeat, with natural gas demand driven by data center power requirements and the next wave of LNG projects taking center stage. [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Worrying Inflation Forecasts</title>
	<link>https://sl-advisors.com/worrying-inflation-forecasts</link>
	<pubDate>Wed, 21 May 2025 10:00:30 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23598</guid>
	<description><![CDATA[In early April JPMorgan reacted to Liberation Day by forecasting a recession in the second half of the year. They assumed the tariffs would cause a drop in business investment. They also raised their inflation forecast. They didn’t reckon on the President’s tariff flexibility, and so dropped their recession call following the 90 day moratorium [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[In early April JPMorgan reacted to Liberation Day by forecasting a recession in the second half of the year. They assumed the tariffs would cause a drop in business investment. They also raised their inflation forecast. They didn’t reckon on the Presiden]]></itunes:subtitle>
	<content:encoded><![CDATA[In early April JPMorgan reacted to Liberation Day by forecasting a recession in the second half of the year. They assumed the tariffs would cause a drop in business investment. They also raised their inflation forecast. They didn’t reckon on the President’s tariff flexibility, and so dropped their recession call following the 90 day moratorium [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23598/worrying-inflation-forecasts.mp3" length="2991090" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[In early April JPMorgan reacted to Liberation Day by forecasting a recession in the second half of the year. They assumed the tariffs would cause a drop in business investment. They also raised their inflation forecast. They didn’t reckon on the President’s tariff flexibility, and so dropped their recession call following the 90 day moratorium [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:09</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[In early April JPMorgan reacted to Liberation Day by forecasting a recession in the second half of the year. They assumed the tariffs would cause a drop in business investment. They also raised their inflation forecast. They didn’t reckon on the President’s tariff flexibility, and so dropped their recession call following the 90 day moratorium [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Coming Energy Backlash</title>
	<link>https://sl-advisors.com/the-coming-energy-backlash</link>
	<pubDate>Sun, 18 May 2025 10:00:31 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23594</guid>
	<description><![CDATA[New Jersey, where your blogger resides when temperatures allow, had a good story to tell  on energy until recently. Power generation relies heavily on natural gas and nuclear (38% and 56% respectively in February). Residential electricity prices are 19.7 cents per Kilowatt Hour (KwH), above the US average of 16.4 cents but well below neighboring [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[New Jersey, where your blogger resides when temperatures allow, had a good story to tell  on energy until recently. Power generation relies heavily on natural gas and nuclear (38% and 56% respectively in February). Residential electricity prices are 19.7]]></itunes:subtitle>
	<content:encoded><![CDATA[New Jersey, where your blogger resides when temperatures allow, had a good story to tell  on energy until recently. Power generation relies heavily on natural gas and nuclear (38% and 56% respectively in February). Residential electricity prices are 19.7 cents per Kilowatt Hour (KwH), above the US average of 16.4 cents but well below neighboring [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23594/the-coming-energy-backlash.mp3" length="3118229" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[New Jersey, where your blogger resides when temperatures allow, had a good story to tell  on energy until recently. Power generation relies heavily on natural gas and nuclear (38% and 56% respectively in February). Residential electricity prices are 19.7 cents per Kilowatt Hour (KwH), above the US average of 16.4 cents but well below neighboring [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:19</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[New Jersey, where your blogger resides when temperatures allow, had a good story to tell  on energy until recently. Power generation relies heavily on natural gas and nuclear (38% and 56% respectively in February). Residential electricity prices are 19.7 cents per Kilowatt Hour (KwH), above the US average of 16.4 cents but well below neighboring [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Pipelines Will Get a Lift From Gas</title>
	<link>https://sl-advisors.com/pipelines-will-get-a-lift-from-gas</link>
	<pubDate>Wed, 14 May 2025 10:00:28 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23581</guid>
	<description><![CDATA[Following Sunday night’s 90-day agreement on tariffs between the US and China, the S&#38;P500 sailed back above its pre-Liberation Day levels. All is right with the world. Sentiment seems weaker than data, so one will correct. After Liberation Day JPMorgan called for a 2H25 recession. Following the tariff news they dropped that forecast. Fed Funds [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Following Sunday night’s 90-day agreement on tariffs between the US and China, the S&#38;P500 sailed back above its pre-Liberation Day levels. All is right with the world. Sentiment seems weaker than data, so one will correct. After Liberation Day JPMorg]]></itunes:subtitle>
	<content:encoded><![CDATA[Following Sunday night’s 90-day agreement on tariffs between the US and China, the S&#38;P500 sailed back above its pre-Liberation Day levels. All is right with the world. Sentiment seems weaker than data, so one will correct. After Liberation Day JPMorgan called for a 2H25 recession. Following the tariff news they dropped that forecast. Fed Funds [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23581/pipelines-will-get-a-lift-from-gas.mp3" length="3044210" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Following Sunday night’s 90-day agreement on tariffs between the US and China, the S&#38;P500 sailed back above its pre-Liberation Day levels. All is right with the world. Sentiment seems weaker than data, so one will correct. After Liberation Day JPMorgan called for a 2H25 recession. Following the tariff news they dropped that forecast. Fed Funds [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:21</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Following Sunday night’s 90-day agreement on tariffs between the US and China, the S&#38;P500 sailed back above its pre-Liberation Day levels. All is right with the world. Sentiment seems weaker than data, so one will correct. After Liberation Day JPMorgan called for a 2H25 recession. Following the tariff news they dropped that forecast. Fed Funds [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Tariff Trauma Is Receding</title>
	<link>https://sl-advisors.com/tariff-trauma-is-receding</link>
	<pubDate>Sun, 11 May 2025 10:00:15 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23574</guid>
	<description><![CDATA[Americans visiting Europe know that Republican presidents are generally less popular than Democrat ones, since Europe’s political center of gravity is left of ours. This is especially true of President Trump, which didn’t surprise us on a recent trip with friends to the UK and Belgium. Trade policy is largely how Europeans experience US presidential [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Americans visiting Europe know that Republican presidents are generally less popular than Democrat ones, since Europe’s political center of gravity is left of ours. This is especially true of President Trump, which didn’t surprise us on a recent trip wit]]></itunes:subtitle>
	<content:encoded><![CDATA[Americans visiting Europe know that Republican presidents are generally less popular than Democrat ones, since Europe’s political center of gravity is left of ours. This is especially true of President Trump, which didn’t surprise us on a recent trip with friends to the UK and Belgium. Trade policy is largely how Europeans experience US presidential [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23574/tariff-trauma-is-receding.mp3" length="2818984" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Americans visiting Europe know that Republican presidents are generally less popular than Democrat ones, since Europe’s political center of gravity is left of ours. This is especially true of President Trump, which didn’t surprise us on a recent trip with friends to the UK and Belgium. Trade policy is largely how Europeans experience US presidential [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:51</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Americans visiting Europe know that Republican presidents are generally less popular than Democrat ones, since Europe’s political center of gravity is left of ours. This is especially true of President Trump, which didn’t surprise us on a recent trip with friends to the UK and Belgium. Trade policy is largely how Europeans experience US presidential [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Drama-Free Energy Stocks</title>
	<link>https://sl-advisors.com/drama-free-energy-stocks</link>
	<pubDate>Wed, 07 May 2025 10:00:36 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23564</guid>
	<description><![CDATA[Supplies of crude oil were already set to increase by 2.6 Million Barrels per day (MMB/D) year-on-year before the OPEC+ announcement on Monday. Demand is growing in emerging economies across Asia, Africa and South America, but not fast enough. This has led to forecasts of stocks increasing by 2 MMB/D this year. Last year we [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Supplies of crude oil were already set to increase by 2.6 Million Barrels per day (MMB/D) year-on-year before the OPEC+ announcement on Monday. Demand is growing in emerging economies across Asia, Africa and South America, but not fast enough. This has l]]></itunes:subtitle>
	<content:encoded><![CDATA[Supplies of crude oil were already set to increase by 2.6 Million Barrels per day (MMB/D) year-on-year before the OPEC+ announcement on Monday. Demand is growing in emerging economies across Asia, Africa and South America, but not fast enough. This has led to forecasts of stocks increasing by 2 MMB/D this year. Last year we [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23564/drama-free-energy-stocks.mp3" length="3083367" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Supplies of crude oil were already set to increase by 2.6 Million Barrels per day (MMB/D) year-on-year before the OPEC+ announcement on Monday. Demand is growing in emerging economies across Asia, Africa and South America, but not fast enough. This has led to forecasts of stocks increasing by 2 MMB/D this year. Last year we [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:15</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Supplies of crude oil were already set to increase by 2.6 Million Barrels per day (MMB/D) year-on-year before the OPEC+ announcement on Monday. Demand is growing in emerging economies across Asia, Africa and South America, but not fast enough. This has led to forecasts of stocks increasing by 2 MMB/D this year. Last year we [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Tariffs Not Biting Yet</title>
	<link>https://sl-advisors.com/tariffs-not-biting-yet</link>
	<pubDate>Sun, 04 May 2025 10:00:10 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23559</guid>
	<description><![CDATA[On Friday the market achieved a welcome milestone in that the S&#38;P500 rose above its pre-Liberation Day level. The unemployment report suggested that we’re not yet falling into a recession. Signs that trade negotiations with China may start was encouraging. Midstream earnings have been coming in with little discernible impact from the tariff trauma. Worth [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[On Friday the market achieved a welcome milestone in that the S&#38;P500 rose above its pre-Liberation Day level. The unemployment report suggested that we’re not yet falling into a recession. Signs that trade negotiations with China may start was encour]]></itunes:subtitle>
	<content:encoded><![CDATA[On Friday the market achieved a welcome milestone in that the S&#38;P500 rose above its pre-Liberation Day level. The unemployment report suggested that we’re not yet falling into a recession. Signs that trade negotiations with China may start was encouraging. Midstream earnings have been coming in with little discernible impact from the tariff trauma. Worth [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23559/tariffs-not-biting-yet.mp3" length="3104926" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[On Friday the market achieved a welcome milestone in that the S&#38;P500 rose above its pre-Liberation Day level. The unemployment report suggested that we’re not yet falling into a recession. Signs that trade negotiations with China may start was encouraging. Midstream earnings have been coming in with little discernible impact from the tariff trauma. Worth [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:12</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[On Friday the market achieved a welcome milestone in that the S&#38;P500 rose above its pre-Liberation Day level. The unemployment report suggested that we’re not yet falling into a recession. Signs that trade negotiations with China may start was encouraging. Midstream earnings have been coming in with little discernible impact from the tariff trauma. Worth [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Iberian Grid Warning</title>
	<link>https://sl-advisors.com/the-iberian-grid-warning</link>
	<pubDate>Wed, 30 Apr 2025 10:00:53 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23552</guid>
	<description><![CDATA[It’s too early to say what caused the loss of power across Spain and parts of Portugal, but early signs are that it was linked to a disruption in solar supply. Some will soon blame it on global warming. But reducing greenhouse gas emissions (GHGs) requires increased electrification of energy systems. European governments are pushing [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[It’s too early to say what caused the loss of power across Spain and parts of Portugal, but early signs are that it was linked to a disruption in solar supply. Some will soon blame it on global warming. But reducing greenhouse gas emissions (GHGs) requir]]></itunes:subtitle>
	<content:encoded><![CDATA[It’s too early to say what caused the loss of power across Spain and parts of Portugal, but early signs are that it was linked to a disruption in solar supply. Some will soon blame it on global warming. But reducing greenhouse gas emissions (GHGs) requires increased electrification of energy systems. European governments are pushing [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23552/the-iberian-grid-warning.mp3" length="2908943" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[It’s too early to say what caused the loss of power across Spain and parts of Portugal, but early signs are that it was linked to a disruption in solar supply. Some will soon blame it on global warming. But reducing greenhouse gas emissions (GHGs) requires increased electrification of energy systems. European governments are pushing [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:01</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[It’s too early to say what caused the loss of power across Spain and parts of Portugal, but early signs are that it was linked to a disruption in solar supply. Some will soon blame it on global warming. But reducing greenhouse gas emissions (GHGs) requires increased electrification of energy systems. European governments are pushing [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Talking Midstream In the Volunteer State</title>
	<link>https://sl-advisors.com/talking-midstream-in-the-volunteer-state</link>
	<pubDate>Sun, 27 Apr 2025 10:00:29 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23544</guid>
	<description><![CDATA[Midstream energy infrastructure is offering solid defense during a period when Presidential ruminations on tariffs or Jay Powell’s career prospects regularly cause 2% daily market moves. Operating a pipeline business is dull by comparison. These companies are largely immune to trade wars. They just keep generating cash and raising dividends. Last week Energy Transfer (ET) [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Midstream energy infrastructure is offering solid defense during a period when Presidential ruminations on tariffs or Jay Powell’s career prospects regularly cause 2% daily market moves. Operating a pipeline business is dull by comparison. These companie]]></itunes:subtitle>
	<content:encoded><![CDATA[Midstream energy infrastructure is offering solid defense during a period when Presidential ruminations on tariffs or Jay Powell’s career prospects regularly cause 2% daily market moves. Operating a pipeline business is dull by comparison. These companies are largely immune to trade wars. They just keep generating cash and raising dividends. Last week Energy Transfer (ET) [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23544/talking-midstream-in-the-volunteer-state.mp3" length="3040596" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Midstream energy infrastructure is offering solid defense during a period when Presidential ruminations on tariffs or Jay Powell’s career prospects regularly cause 2% daily market moves. Operating a pipeline business is dull by comparison. These companies are largely immune to trade wars. They just keep generating cash and raising dividends. Last week Energy Transfer (ET) [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:27</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Midstream energy infrastructure is offering solid defense during a period when Presidential ruminations on tariffs or Jay Powell’s career prospects regularly cause 2% daily market moves. Operating a pipeline business is dull by comparison. These companies are largely immune to trade wars. They just keep generating cash and raising dividends. Last week Energy Transfer (ET) [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Tariffs Soften Presidential Support</title>
	<link>https://sl-advisors.com/tariffs-soften-presidential-support</link>
	<pubDate>Wed, 23 Apr 2025 10:00:50 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23530</guid>
	<description><![CDATA[Tariff turmoil and the market’s gyrations have elicited more than normal feedback on recent blog posts. Politically, our readers and investors tend to be Republican so many are inclined to look for positives in Liberation Day and the subsequent policy switches. Some echo Trump’s claim that foreign countries have been exploiting the US for years. [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Tariff turmoil and the market’s gyrations have elicited more than normal feedback on recent blog posts. Politically, our readers and investors tend to be Republican so many are inclined to look for positives in Liberation Day and the subsequent policy sw]]></itunes:subtitle>
	<content:encoded><![CDATA[Tariff turmoil and the market’s gyrations have elicited more than normal feedback on recent blog posts. Politically, our readers and investors tend to be Republican so many are inclined to look for positives in Liberation Day and the subsequent policy switches. Some echo Trump’s claim that foreign countries have been exploiting the US for years. [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23530/tariffs-soften-presidential-support.mp3" length="2897691" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Tariff turmoil and the market’s gyrations have elicited more than normal feedback on recent blog posts. Politically, our readers and investors tend to be Republican so many are inclined to look for positives in Liberation Day and the subsequent policy switches. Some echo Trump’s claim that foreign countries have been exploiting the US for years. [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:02</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Tariff turmoil and the market’s gyrations have elicited more than normal feedback on recent blog posts. Politically, our readers and investors tend to be Republican so many are inclined to look for positives in Liberation Day and the subsequent policy switches. Some echo Trump’s claim that foreign countries have been exploiting the US for years. [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Stagflation</title>
	<link>https://sl-advisors.com/stagflation</link>
	<pubDate>Sun, 20 Apr 2025 10:00:51 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23517</guid>
	<description><![CDATA[On Wednesday during Q&#38;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 [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[On Wednesday during Q&#38;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 consis]]></itunes:subtitle>
	<content:encoded><![CDATA[On Wednesday during Q&#38;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 [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23517/stagflation.mp3" length="3081045" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[On Wednesday during Q&#38;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 [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:07</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[On Wednesday during Q&#38;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 [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>LNG Deals Aren’t Swayed By Tariffs</title>
	<link>https://sl-advisors.com/lng-deals-arent-swayed-by-tariffs</link>
	<pubDate>Wed, 16 Apr 2025 10:00:36 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23509</guid>
	<description><![CDATA[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 [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[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 s]]></itunes:subtitle>
	<content:encoded><![CDATA[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 [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23509/lng-deals-arent-swayed-by-tariffs.mp3" length="3399597" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[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 [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:36</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[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 [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Help With Timing Regional Conflicts</title>
	<link>https://sl-advisors.com/help-with-timing-regional-conflicts</link>
	<pubDate>Sun, 13 Apr 2025 10:00:57 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23493</guid>
	<description><![CDATA[Dimitri Alperovitch co-founded CrowdStrike, the cybersecurity firm whose faulty software update on the Windows operating system last year led to worldwide IT failures. Alperovitch was no longer with the company, having left four years earlier to launch a nonprofit called the Silverado Policy Accelerator. In April 2024 he published World on the Brink: How America [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Dimitri Alperovitch co-founded CrowdStrike, the cybersecurity firm whose faulty software update on the Windows operating system last year led to worldwide IT failures. Alperovitch was no longer with the company, having left four years earlier to launch a]]></itunes:subtitle>
	<content:encoded><![CDATA[Dimitri Alperovitch co-founded CrowdStrike, the cybersecurity firm whose faulty software update on the Windows operating system last year led to worldwide IT failures. Alperovitch was no longer with the company, having left four years earlier to launch a nonprofit called the Silverado Policy Accelerator. In April 2024 he published World on the Brink: How America [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23493/help-with-timing-regional-conflicts.mp3" length="3205515" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Dimitri Alperovitch co-founded CrowdStrike, the cybersecurity firm whose faulty software update on the Windows operating system last year led to worldwide IT failures. Alperovitch was no longer with the company, having left four years earlier to launch a nonprofit called the Silverado Policy Accelerator. In April 2024 he published World on the Brink: How America [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:20</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Dimitri Alperovitch co-founded CrowdStrike, the cybersecurity firm whose faulty software update on the Windows operating system last year led to worldwide IT failures. Alperovitch was no longer with the company, having left four years earlier to launch a nonprofit called the Silverado Policy Accelerator. In April 2024 he published World on the Brink: How America [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Bull Case For Bitcoin</title>
	<link>https://sl-advisors.com/the-bull-case-for-bitcoin</link>
	<pubDate>Wed, 09 Apr 2025 10:00:43 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23482</guid>
	<description><![CDATA[Last year luxury car sales in Singapore collapsed. Sales of new Bentley, Ferrari, Jaguar and Rolls Royce models were down by as much as three quarters compared with 2023. This wasn’t caused by an economic slowdown. Singapore’s government clamped down on money laundering. Most buyers of such cars are Chinese nationals. Car dealers are required [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Last year luxury car sales in Singapore collapsed. Sales of new Bentley, Ferrari, Jaguar and Rolls Royce models were down by as much as three quarters compared with 2023. This wasn’t caused by an economic slowdown. Singapore’s government clamped down on ]]></itunes:subtitle>
	<content:encoded><![CDATA[Last year luxury car sales in Singapore collapsed. Sales of new Bentley, Ferrari, Jaguar and Rolls Royce models were down by as much as three quarters compared with 2023. This wasn’t caused by an economic slowdown. Singapore’s government clamped down on money laundering. Most buyers of such cars are Chinese nationals. Car dealers are required [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23482/the-bull-case-for-bitcoin.mp3" length="3323493" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Last year luxury car sales in Singapore collapsed. Sales of new Bentley, Ferrari, Jaguar and Rolls Royce models were down by as much as three quarters compared with 2023. This wasn’t caused by an economic slowdown. Singapore’s government clamped down on money laundering. Most buyers of such cars are Chinese nationals. Car dealers are required [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:42</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Last year luxury car sales in Singapore collapsed. Sales of new Bentley, Ferrari, Jaguar and Rolls Royce models were down by as much as three quarters compared with 2023. This wasn’t caused by an economic slowdown. Singapore’s government clamped down on money laundering. Most buyers of such cars are Chinese nationals. Car dealers are required [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Tariffs And Mismanaging The Economy</title>
	<link>https://sl-advisors.com/tariffs-and-mismanaging-the-economy</link>
	<pubDate>Sun, 06 Apr 2025 10:00:49 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23474</guid>
	<description><![CDATA[A new administration took office determined to change the economy’s direction with overhauled policies. The leader and key advisers huddled, drawing up their plans in relative secrecy. Once ready, they were unveiled with great fanfare, heralding a new dawn in economic stewardship. Markets, caught by surprise without having had the opportunity to assess them via [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[A new administration took office determined to change the economy’s direction with overhauled policies. The leader and key advisers huddled, drawing up their plans in relative secrecy. Once ready, they were unveiled with great fanfare, heralding a new da]]></itunes:subtitle>
	<content:encoded><![CDATA[A new administration took office determined to change the economy’s direction with overhauled policies. The leader and key advisers huddled, drawing up their plans in relative secrecy. Once ready, they were unveiled with great fanfare, heralding a new dawn in economic stewardship. Markets, caught by surprise without having had the opportunity to assess them via [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23474/tariffs-and-mismanaging-the-economy.mp3" length="4425025" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[A new administration took office determined to change the economy’s direction with overhauled policies. The leader and key advisers huddled, drawing up their plans in relative secrecy. Once ready, they were unveiled with great fanfare, heralding a new dawn in economic stewardship. Markets, caught by surprise without having had the opportunity to assess them via [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:58</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[A new administration took office determined to change the economy’s direction with overhauled policies. The leader and key advisers huddled, drawing up their plans in relative secrecy. Once ready, they were unveiled with great fanfare, heralding a new dawn in economic stewardship. Markets, caught by surprise without having had the opportunity to assess them via [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Screwed By Tariffs</title>
	<link>https://sl-advisors.com/screwed-by-tariffs</link>
	<pubDate>Wed, 02 Apr 2025 10:00:07 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23464</guid>
	<description><![CDATA[Americans did vote for tariffs when we elected Donald Trump. Many perhaps thought they’d be implemented with a clearer strategic purpose. I had hoped we’d use them to open up foreign markets such as the EU, reducing our trade deficit by exporting more not by importing less. And most voters probably weren’t voting for a [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Americans did vote for tariffs when we elected Donald Trump. Many perhaps thought they’d be implemented with a clearer strategic purpose. I had hoped we’d use them to open up foreign markets such as the EU, reducing our trade deficit by exporting more no]]></itunes:subtitle>
	<content:encoded><![CDATA[Americans did vote for tariffs when we elected Donald Trump. Many perhaps thought they’d be implemented with a clearer strategic purpose. I had hoped we’d use them to open up foreign markets such as the EU, reducing our trade deficit by exporting more not by importing less. And most voters probably weren’t voting for a [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23464/screwed-by-tariffs.mp3" length="4246587" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Americans did vote for tariffs when we elected Donald Trump. Many perhaps thought they’d be implemented with a clearer strategic purpose. I had hoped we’d use them to open up foreign markets such as the EU, reducing our trade deficit by exporting more not by importing less. And most voters probably weren’t voting for a [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:58</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Americans did vote for tariffs when we elected Donald Trump. Many perhaps thought they’d be implemented with a clearer strategic purpose. I had hoped we’d use them to open up foreign markets such as the EU, reducing our trade deficit by exporting more not by importing less. And most voters probably weren’t voting for a [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>ARK’s Cathie Wood:  Getting Rich While Losing Money</title>
	<link>https://sl-advisors.com/arks-cathie-wood-getting-rich-while-losing-money</link>
	<pubDate>Sun, 30 Mar 2025 10:00:04 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23459</guid>
	<description><![CDATA[Which is a more important measure of an investment manager’s skill – the return on the first dollar invested at inception, or the return on the average dollar? Return since inception is widely used because it covers the longest period. If performance is reasonably consistent, both methods should tell the same story. That this is [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Which is a more important measure of an investment manager’s skill – the return on the first dollar invested at inception, or the return on the average dollar? Return since inception is widely used because it covers the longest period. If performance is ]]></itunes:subtitle>
	<content:encoded><![CDATA[Which is a more important measure of an investment manager’s skill – the return on the first dollar invested at inception, or the return on the average dollar? Return since inception is widely used because it covers the longest period. If performance is reasonably consistent, both methods should tell the same story. That this is [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23459/arks-cathie-wood-getting-rich-while-losing-money.mp3" length="2914628" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Which is a more important measure of an investment manager’s skill – the return on the first dollar invested at inception, or the return on the average dollar? Return since inception is widely used because it covers the longest period. If performance is reasonably consistent, both methods should tell the same story. That this is [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:02</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Which is a more important measure of an investment manager’s skill – the return on the first dollar invested at inception, or the return on the average dollar? Return since inception is widely used because it covers the longest period. If performance is reasonably consistent, both methods should tell the same story. That this is [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Energy Wants To Invest In America</title>
	<link>https://sl-advisors.com/energy-wants-to-invest-in-america</link>
	<pubDate>Wed, 26 Mar 2025 10:00:02 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23449</guid>
	<description><![CDATA[$1.4TN is a huge sum by any standard. It’s more than Spain’s entire stock market capitalization and just behind Switzerland’s. It’s more than Indonesia’s GDP and not far below South Korea’s. This is the sum that the United Arab Emirates (UAE) has committed to invest in America over the next decade. It’s probably the best [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[$1.4TN is a huge sum by any standard. It’s more than Spain’s entire stock market capitalization and just behind Switzerland’s. It’s more than Indonesia’s GDP and not far below South Korea’s. This is the sum that the United Arab Emirates (UAE) has committ]]></itunes:subtitle>
	<content:encoded><![CDATA[$1.4TN is a huge sum by any standard. It’s more than Spain’s entire stock market capitalization and just behind Switzerland’s. It’s more than Indonesia’s GDP and not far below South Korea’s. This is the sum that the United Arab Emirates (UAE) has committed to invest in America over the next decade. It’s probably the best [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23449/energy-wants-to-invest-in-america.mp3" length="3169633" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[$1.4TN is a huge sum by any standard. It’s more than Spain’s entire stock market capitalization and just behind Switzerland’s. It’s more than Indonesia’s GDP and not far below South Korea’s. This is the sum that the United Arab Emirates (UAE) has committed to invest in America over the next decade. It’s probably the best [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:18</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[$1.4TN is a huge sum by any standard. It’s more than Spain’s entire stock market capitalization and just behind Switzerland’s. It’s more than Indonesia’s GDP and not far below South Korea’s. This is the sum that the United Arab Emirates (UAE) has committed to invest in America over the next decade. It’s probably the best [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Greenpeace Picks The Wrong Fight</title>
	<link>https://sl-advisors.com/greenpeace-picks-the-wrong-fight</link>
	<pubDate>Sun, 23 Mar 2025 10:00:21 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23443</guid>
	<description><![CDATA[In recent years climate extremists have become adept at weaponizing the legal system in pursuit of their dystopian aims. The Mountain Valley Pipeline (MVP), which was built to move natural gas from West Virginia to Virginia, faced extensive delays with only a few miles left, because climate activists were able to persuade a judge to [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[In recent years climate extremists have become adept at weaponizing the legal system in pursuit of their dystopian aims. The Mountain Valley Pipeline (MVP), which was built to move natural gas from West Virginia to Virginia, faced extensive delays with o]]></itunes:subtitle>
	<content:encoded><![CDATA[In recent years climate extremists have become adept at weaponizing the legal system in pursuit of their dystopian aims. The Mountain Valley Pipeline (MVP), which was built to move natural gas from West Virginia to Virginia, faced extensive delays with only a few miles left, because climate activists were able to persuade a judge to [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23443/greenpeace-picks-the-wrong-fight.mp3" length="3154016" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[In recent years climate extremists have become adept at weaponizing the legal system in pursuit of their dystopian aims. The Mountain Valley Pipeline (MVP), which was built to move natural gas from West Virginia to Virginia, faced extensive delays with only a few miles left, because climate activists were able to persuade a judge to [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:13</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[In recent years climate extremists have become adept at weaponizing the legal system in pursuit of their dystopian aims. The Mountain Valley Pipeline (MVP), which was built to move natural gas from West Virginia to Virginia, faced extensive delays with only a few miles left, because climate activists were able to persuade a judge to [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Unloved Tariffs</title>
	<link>https://sl-advisors.com/unloved-tariffs</link>
	<pubDate>Wed, 19 Mar 2025 10:00:57 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23436</guid>
	<description><![CDATA[There are few parts of America redder than Naples, FL.  Kamala Harris signs were nowhere to be seen last year. Florida has shifted from purple to red in recent years. A friend once received hostile comments from a local who noticed his Connecticut license plate, demanding that he not relocate but should keep his liberal [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[There are few parts of America redder than Naples, FL.  Kamala Harris signs were nowhere to be seen last year. Florida has shifted from purple to red in recent years. A friend once received hostile comments from a local who noticed his Connecticut licens]]></itunes:subtitle>
	<content:encoded><![CDATA[There are few parts of America redder than Naples, FL.  Kamala Harris signs were nowhere to be seen last year. Florida has shifted from purple to red in recent years. A friend once received hostile comments from a local who noticed his Connecticut license plate, demanding that he not relocate but should keep his liberal [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23436/unloved-tariffs.mp3" length="3238023" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[There are few parts of America redder than Naples, FL.  Kamala Harris signs were nowhere to be seen last year. Florida has shifted from purple to red in recent years. A friend once received hostile comments from a local who noticed his Connecticut license plate, demanding that he not relocate but should keep his liberal [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:29</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[There are few parts of America redder than Naples, FL.  Kamala Harris signs were nowhere to be seen last year. Florida has shifted from purple to red in recent years. A friend once received hostile comments from a local who noticed his Connecticut license plate, demanding that he not relocate but should keep his liberal [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Discussing Energy In The Caribbean</title>
	<link>https://sl-advisors.com/discussing-energy-in-the-caribbean</link>
	<pubDate>Sun, 16 Mar 2025 10:00:28 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23429</guid>
	<description><![CDATA[I spent a few days last week at the Catalyst Funds National Sales Conference in Puerto Rico. Catalyst is our mutual fund partner. It is about ten degrees warmer than Naples, FL where we’ve spent most of the winter, and the conference was once again thoughtfully located at the Royal Sonesta Hotel on the beach [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[I spent a few days last week at the Catalyst Funds National Sales Conference in Puerto Rico. Catalyst is our mutual fund partner. It is about ten degrees warmer than Naples, FL where we’ve spent most of the winter, and the conference was once again thoug]]></itunes:subtitle>
	<content:encoded><![CDATA[I spent a few days last week at the Catalyst Funds National Sales Conference in Puerto Rico. Catalyst is our mutual fund partner. It is about ten degrees warmer than Naples, FL where we’ve spent most of the winter, and the conference was once again thoughtfully located at the Royal Sonesta Hotel on the beach [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23429/discussing-energy-in-the-caribbean.mp3" length="2924401" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[I spent a few days last week at the Catalyst Funds National Sales Conference in Puerto Rico. Catalyst is our mutual fund partner. It is about ten degrees warmer than Naples, FL where we’ve spent most of the winter, and the conference was once again thoughtfully located at the Royal Sonesta Hotel on the beach [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:54</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[I spent a few days last week at the Catalyst Funds National Sales Conference in Puerto Rico. Catalyst is our mutual fund partner. It is about ten degrees warmer than Naples, FL where we’ve spent most of the winter, and the conference was once again thoughtfully located at the Royal Sonesta Hotel on the beach [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Natural Gas Is The Future Fuel</title>
	<link>https://sl-advisors.com/natural-gas-is-the-future-fuel</link>
	<pubDate>Wed, 12 Mar 2025 10:00:15 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23416</guid>
	<description><![CDATA[On Monday the market dipped back below its pre-election level. The proximate cause was Trump’s ambiguous response when asked if there will be a recession. He has warned that the tariffs will likely cause “a little disturbance.” To this observer, the problem is more the rapid unpredictability with which new import taxes are announced and [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[On Monday the market dipped back below its pre-election level. The proximate cause was Trump’s ambiguous response when asked if there will be a recession. He has warned that the tariffs will likely cause “a little disturbance.” To this observer, the prob]]></itunes:subtitle>
	<content:encoded><![CDATA[On Monday the market dipped back below its pre-election level. The proximate cause was Trump’s ambiguous response when asked if there will be a recession. He has warned that the tariffs will likely cause “a little disturbance.” To this observer, the problem is more the rapid unpredictability with which new import taxes are announced and [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23416/natural-gas-is-the-future-fuel.mp3" length="3130724" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[On Monday the market dipped back below its pre-election level. The proximate cause was Trump’s ambiguous response when asked if there will be a recession. He has warned that the tariffs will likely cause “a little disturbance.” To this observer, the problem is more the rapid unpredictability with which new import taxes are announced and [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:16</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[On Monday the market dipped back below its pre-election level. The proximate cause was Trump’s ambiguous response when asked if there will be a recession. He has warned that the tariffs will likely cause “a little disturbance.” To this observer, the problem is more the rapid unpredictability with which new import taxes are announced and [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Midstream Is About Volumes</title>
	<link>https://sl-advisors.com/midstream-is-about-volumes</link>
	<pubDate>Sun, 09 Mar 2025 10:00:03 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23409</guid>
	<description><![CDATA[Midstream companies are generally unaffected by the current round of daily tariff updates. Their stock prices may gyrate with the rest of the market, but nobody is revising guidance. It’s worth remembering that these are toll businesses, focused on volumes not commodity prices. Consumption of petroleum products is remarkably stable. It’s been between 20 and [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Midstream companies are generally unaffected by the current round of daily tariff updates. Their stock prices may gyrate with the rest of the market, but nobody is revising guidance. It’s worth remembering that these are toll businesses, focused on volum]]></itunes:subtitle>
	<content:encoded><![CDATA[Midstream companies are generally unaffected by the current round of daily tariff updates. Their stock prices may gyrate with the rest of the market, but nobody is revising guidance. It’s worth remembering that these are toll businesses, focused on volumes not commodity prices. Consumption of petroleum products is remarkably stable. It’s been between 20 and [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23409/midstream-is-about-volumes.mp3" length="3133436" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Midstream companies are generally unaffected by the current round of daily tariff updates. Their stock prices may gyrate with the rest of the market, but nobody is revising guidance. It’s worth remembering that these are toll businesses, focused on volumes not commodity prices. Consumption of petroleum products is remarkably stable. It’s been between 20 and [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:11</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Midstream companies are generally unaffected by the current round of daily tariff updates. Their stock prices may gyrate with the rest of the market, but nobody is revising guidance. It’s worth remembering that these are toll businesses, focused on volumes not commodity prices. Consumption of petroleum products is remarkably stable. It’s been between 20 and [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Why The Navy Can’t Help With Nuclear</title>
	<link>https://sl-advisors.com/why-the-navy-cant-help-with-nuclear</link>
	<pubDate>Wed, 05 Mar 2025 11:00:36 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23404</guid>
	<description><![CDATA[Last week I gave a lunchtime presentation to a local investment club organized by Elliot Miller, a friend and long-time investor in midstream energy. Afterwards one of the participants came up to me and, disclosing that he used to work as a nuclear physicist, asked me what I thought of the prospects for Small Modular [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Last week I gave a lunchtime presentation to a local investment club organized by Elliot Miller, a friend and long-time investor in midstream energy. Afterwards one of the participants came up to me and, disclosing that he used to work as a nuclear physi]]></itunes:subtitle>
	<content:encoded><![CDATA[Last week I gave a lunchtime presentation to a local investment club organized by Elliot Miller, a friend and long-time investor in midstream energy. Afterwards one of the participants came up to me and, disclosing that he used to work as a nuclear physicist, asked me what I thought of the prospects for Small Modular [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23404/why-the-navy-cant-help-with-nuclear.mp3" length="2966042" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Last week I gave a lunchtime presentation to a local investment club organized by Elliot Miller, a friend and long-time investor in midstream energy. Afterwards one of the participants came up to me and, disclosing that he used to work as a nuclear physicist, asked me what I thought of the prospects for Small Modular [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:07</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Last week I gave a lunchtime presentation to a local investment club organized by Elliot Miller, a friend and long-time investor in midstream energy. Afterwards one of the participants came up to me and, disclosing that he used to work as a nuclear physicist, asked me what I thought of the prospects for Small Modular [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>What Energy Transition?</title>
	<link>https://sl-advisors.com/what-energy-transition</link>
	<pubDate>Sun, 02 Mar 2025 11:00:43 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23397</guid>
	<description><![CDATA[Daniel Yergin is right to call it the Energy Addition. In an essay in Foreign Affairs called The Troubled Energy Transition, he notes that since 1990 hydrocarbons have dropped from 85% of primary energy to around 80% today. That can hardly be called a transition. Since 2000 global energy consumption has increased from 397 Exajoules [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Daniel Yergin is right to call it the Energy Addition. In an essay in Foreign Affairs called The Troubled Energy Transition, he notes that since 1990 hydrocarbons have dropped from 85% of primary energy to around 80% today. That can hardly be called a tr]]></itunes:subtitle>
	<content:encoded><![CDATA[Daniel Yergin is right to call it the Energy Addition. In an essay in Foreign Affairs called The Troubled Energy Transition, he notes that since 1990 hydrocarbons have dropped from 85% of primary energy to around 80% today. That can hardly be called a transition. Since 2000 global energy consumption has increased from 397 Exajoules [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23397/what-energy-transition.mp3" length="2836190" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Daniel Yergin is right to call it the Energy Addition. In an essay in Foreign Affairs called The Troubled Energy Transition, he notes that since 1990 hydrocarbons have dropped from 85% of primary energy to around 80% today. That can hardly be called a transition. Since 2000 global energy consumption has increased from 397 Exajoules [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:53</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Daniel Yergin is right to call it the Energy Addition. In an essay in Foreign Affairs called The Troubled Energy Transition, he notes that since 1990 hydrocarbons have dropped from 85% of primary energy to around 80% today. That can hardly be called a transition. Since 2000 global energy consumption has increased from 397 Exajoules [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Receding Energy Crisis</title>
	<link>https://sl-advisors.com/the-receding-energy-crisis</link>
	<pubDate>Wed, 26 Feb 2025 11:00:39 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23379</guid>
	<description><![CDATA[Suppose for a moment that the Sierra Club was a political party, with candidates running and elected officials in government. They might look like Germany’s Green Party, which has drawn support from idealistic German voters since the 1980s. They are politically left, view everything through the narrow prism of environmentalism and have a history of [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Suppose for a moment that the Sierra Club was a political party, with candidates running and elected officials in government. They might look like Germany’s Green Party, which has drawn support from idealistic German voters since the 1980s. They are poli]]></itunes:subtitle>
	<content:encoded><![CDATA[Suppose for a moment that the Sierra Club was a political party, with candidates running and elected officials in government. They might look like Germany’s Green Party, which has drawn support from idealistic German voters since the 1980s. They are politically left, view everything through the narrow prism of environmentalism and have a history of [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23379/the-receding-energy-crisis.mp3" length="3116575" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Suppose for a moment that the Sierra Club was a political party, with candidates running and elected officials in government. They might look like Germany’s Green Party, which has drawn support from idealistic German voters since the 1980s. They are politically left, view everything through the narrow prism of environmentalism and have a history of [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:14</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Suppose for a moment that the Sierra Club was a political party, with candidates running and elected officials in government. They might look like Germany’s Green Party, which has drawn support from idealistic German voters since the 1980s. They are politically left, view everything through the narrow prism of environmentalism and have a history of [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Is Capex Back?</title>
	<link>https://sl-advisors.com/is-capex-back</link>
	<pubDate>Sun, 23 Feb 2025 11:00:55 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23373</guid>
	<description><![CDATA[It seems a lifetime ago, but in the latter stages of the capital bust that was the shale revolution, capex plans were often poorly received. In late 2018 Targa Resources (TRGP) drew the ire of investors when then-CEO Joe Bob Perkins dismissed criticism by calling their spending plans “capital blessings” (see 4Q18 Energy Infrastructure Earnings [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[It seems a lifetime ago, but in the latter stages of the capital bust that was the shale revolution, capex plans were often poorly received. In late 2018 Targa Resources (TRGP) drew the ire of investors when then-CEO Joe Bob Perkins dismissed criticism b]]></itunes:subtitle>
	<content:encoded><![CDATA[It seems a lifetime ago, but in the latter stages of the capital bust that was the shale revolution, capex plans were often poorly received. In late 2018 Targa Resources (TRGP) drew the ire of investors when then-CEO Joe Bob Perkins dismissed criticism by calling their spending plans “capital blessings” (see 4Q18 Energy Infrastructure Earnings [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23373/is-capex-back.mp3" length="3341649" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[It seems a lifetime ago, but in the latter stages of the capital bust that was the shale revolution, capex plans were often poorly received. In late 2018 Targa Resources (TRGP) drew the ire of investors when then-CEO Joe Bob Perkins dismissed criticism by calling their spending plans “capital blessings” (see 4Q18 Energy Infrastructure Earnings [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:42</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[It seems a lifetime ago, but in the latter stages of the capital bust that was the shale revolution, capex plans were often poorly received. In late 2018 Targa Resources (TRGP) drew the ire of investors when then-CEO Joe Bob Perkins dismissed criticism by calling their spending plans “capital blessings” (see 4Q18 Energy Infrastructure Earnings [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Will Europe Feed The Crocodile?</title>
	<link>https://sl-advisors.com/will-europe-feed-the-crocodile</link>
	<pubDate>Wed, 19 Feb 2025 11:00:07 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23360</guid>
	<description><![CDATA[Among Winston Churchill’s many memorable quotes is, “An appeaser is one who feeds a crocodile, hoping it will eat him last.” This applies to some European countries’ posture towards Russia. The Economist recently asked, Will Europe return to Putin’s gas? Could they return to their reliance on Russian energy? The question has been buffeting LNG [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Among Winston Churchill’s many memorable quotes is, “An appeaser is one who feeds a crocodile, hoping it will eat him last.” This applies to some European countries’ posture towards Russia. The Economist recently asked, Will Europe return to Putin’s gas?]]></itunes:subtitle>
	<content:encoded><![CDATA[Among Winston Churchill’s many memorable quotes is, “An appeaser is one who feeds a crocodile, hoping it will eat him last.” This applies to some European countries’ posture towards Russia. The Economist recently asked, Will Europe return to Putin’s gas? Could they return to their reliance on Russian energy? The question has been buffeting LNG [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23360/will-europe-feed-the-crocodile.mp3" length="3259299" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Among Winston Churchill’s many memorable quotes is, “An appeaser is one who feeds a crocodile, hoping it will eat him last.” This applies to some European countries’ posture towards Russia. The Economist recently asked, Will Europe return to Putin’s gas? Could they return to their reliance on Russian energy? The question has been buffeting LNG [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:30</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Among Winston Churchill’s many memorable quotes is, “An appeaser is one who feeds a crocodile, hoping it will eat him last.” This applies to some European countries’ posture towards Russia. The Economist recently asked, Will Europe return to Putin’s gas? Could they return to their reliance on Russian energy? The question has been buffeting LNG [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Gas Projections Keep Going Up</title>
	<link>https://sl-advisors.com/gas-projections-keep-going-up</link>
	<pubDate>Sun, 16 Feb 2025 11:00:57 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23356</guid>
	<description><![CDATA[On Thursday morning Williams Companies released their earnings without the rumored announcement of a Behind The Meter (BTM) deal. The stock briefly dipped as algos reacted to the news release but was soon rallying because the broad outlook for natural gas demand remains strong. It’s turning into a global high tech arms race. Proliferation of [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[On Thursday morning Williams Companies released their earnings without the rumored announcement of a Behind The Meter (BTM) deal. The stock briefly dipped as algos reacted to the news release but was soon rallying because the broad outlook for natural ga]]></itunes:subtitle>
	<content:encoded><![CDATA[On Thursday morning Williams Companies released their earnings without the rumored announcement of a Behind The Meter (BTM) deal. The stock briefly dipped as algos reacted to the news release but was soon rallying because the broad outlook for natural gas demand remains strong. It’s turning into a global high tech arms race. Proliferation of [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23356/gas-projections-keep-going-up.mp3" length="3369556" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[On Thursday morning Williams Companies released their earnings without the rumored announcement of a Behind The Meter (BTM) deal. The stock briefly dipped as algos reacted to the news release but was soon rallying because the broad outlook for natural gas demand remains strong. It’s turning into a global high tech arms race. Proliferation of [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:27</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[On Thursday morning Williams Companies released their earnings without the rumored announcement of a Behind The Meter (BTM) deal. The stock briefly dipped as algos reacted to the news release but was soon rallying because the broad outlook for natural gas demand remains strong. It’s turning into a global high tech arms race. Proliferation of [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>AI Demand Ramps Up</title>
	<link>https://sl-advisors.com/ai-demand-ramps-up</link>
	<pubDate>Wed, 12 Feb 2025 11:00:51 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23351</guid>
	<description><![CDATA[On Monday Energy Transfer announced the first Behind The Meter (BTM) agreement of the AI era. They’ll provide up to 450 Million Cubic Feet per Day of natural gas to a data center being built by CloudBurst Data Centers in central Texas. This represents 0.45 Billion Cubic Feet per Day (BCF/D), almost 0.5% of US [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[On Monday Energy Transfer announced the first Behind The Meter (BTM) agreement of the AI era. They’ll provide up to 450 Million Cubic Feet per Day of natural gas to a data center being built by CloudBurst Data Centers in central Texas. This represents 0.]]></itunes:subtitle>
	<content:encoded><![CDATA[On Monday Energy Transfer announced the first Behind The Meter (BTM) agreement of the AI era. They’ll provide up to 450 Million Cubic Feet per Day of natural gas to a data center being built by CloudBurst Data Centers in central Texas. This represents 0.45 Billion Cubic Feet per Day (BCF/D), almost 0.5% of US [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23351/ai-demand-ramps-up.mp3" length="3360065" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[On Monday Energy Transfer announced the first Behind The Meter (BTM) agreement of the AI era. They’ll provide up to 450 Million Cubic Feet per Day of natural gas to a data center being built by CloudBurst Data Centers in central Texas. This represents 0.45 Billion Cubic Feet per Day (BCF/D), almost 0.5% of US [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:42</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[On Monday Energy Transfer announced the first Behind The Meter (BTM) agreement of the AI era. They’ll provide up to 450 Million Cubic Feet per Day of natural gas to a data center being built by CloudBurst Data Centers in central Texas. This represents 0.45 Billion Cubic Feet per Day (BCF/D), almost 0.5% of US [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Hyperscalers Plow Ahead</title>
	<link>https://sl-advisors.com/hyperscalers-plow-ahead</link>
	<pubDate>Sun, 09 Feb 2025 11:00:43 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23343</guid>
	<description><![CDATA[On Friday both the Wall Street Journal and the Financial Times ran stories about planned capex on data centers by the big US tech companies. The DeepSeek news of two weeks ago hasn’t resulted in any discernible change. The case for increased power generation remains intact. On Wednesday Williams Companies will report their quarterly earnings. [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[On Friday both the Wall Street Journal and the Financial Times ran stories about planned capex on data centers by the big US tech companies. The DeepSeek news of two weeks ago hasn’t resulted in any discernible change. The case for increased power genera]]></itunes:subtitle>
	<content:encoded><![CDATA[On Friday both the Wall Street Journal and the Financial Times ran stories about planned capex on data centers by the big US tech companies. The DeepSeek news of two weeks ago hasn’t resulted in any discernible change. The case for increased power generation remains intact. On Wednesday Williams Companies will report their quarterly earnings. [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23343/hyperscalers-plow-ahead.mp3" length="3012350" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[On Friday both the Wall Street Journal and the Financial Times ran stories about planned capex on data centers by the big US tech companies. The DeepSeek news of two weeks ago hasn’t resulted in any discernible change. The case for increased power generation remains intact. On Wednesday Williams Companies will report their quarterly earnings. [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:00</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[On Friday both the Wall Street Journal and the Financial Times ran stories about planned capex on data centers by the big US tech companies. The DeepSeek news of two weeks ago hasn’t resulted in any discernible change. The case for increased power generation remains intact. On Wednesday Williams Companies will report their quarterly earnings. [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Bond Buyers And Tariffs</title>
	<link>https://sl-advisors.com/bond-buyers-and-tariffs</link>
	<pubDate>Wed, 05 Feb 2025 11:00:06 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23333</guid>
	<description><![CDATA[Although the US is energy independent and a net exporter of petroleum products, we still import certain blends of crude. Canadian tar sands oil is the heavy type for which American refineries are configured as is Mexican oil. Shale oil is lighter. So we buy what we are set up to handle and sell what [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Although the US is energy independent and a net exporter of petroleum products, we still import certain blends of crude. Canadian tar sands oil is the heavy type for which American refineries are configured as is Mexican oil. Shale oil is lighter. So we ]]></itunes:subtitle>
	<content:encoded><![CDATA[Although the US is energy independent and a net exporter of petroleum products, we still import certain blends of crude. Canadian tar sands oil is the heavy type for which American refineries are configured as is Mexican oil. Shale oil is lighter. So we buy what we are set up to handle and sell what [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23333/bond-buyers-and-tariffs.mp3" length="2990581" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Although the US is energy independent and a net exporter of petroleum products, we still import certain blends of crude. Canadian tar sands oil is the heavy type for which American refineries are configured as is Mexican oil. Shale oil is lighter. So we buy what we are set up to handle and sell what [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:58</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Although the US is energy independent and a net exporter of petroleum products, we still import certain blends of crude. Canadian tar sands oil is the heavy type for which American refineries are configured as is Mexican oil. Shale oil is lighter. So we buy what we are set up to handle and sell what [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Cheaper AI Probably Means More</title>
	<link>https://sl-advisors.com/cheaper-ai-probably-mean-more</link>
	<pubDate>Sun, 02 Feb 2025 11:00:22 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23322</guid>
	<description><![CDATA[Following Monday’s “sputnik moment” for AI the market has had a few days to consider the ramifications of DeepSeek’s apparent breakthrough. Mark Zuckerberg reaffirmed Meta’s plans to spend $60-65BN on data centers. They have embraced an open-source approach to AI, believing that sharing code freely will drive penetration. Since DeepSeek also published their code any [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Following Monday’s “sputnik moment” for AI the market has had a few days to consider the ramifications of DeepSeek’s apparent breakthrough. Mark Zuckerberg reaffirmed Meta’s plans to spend $60-65BN on data centers. They have embraced an open-source appro]]></itunes:subtitle>
	<content:encoded><![CDATA[Following Monday’s “sputnik moment” for AI the market has had a few days to consider the ramifications of DeepSeek’s apparent breakthrough. Mark Zuckerberg reaffirmed Meta’s plans to spend $60-65BN on data centers. They have embraced an open-source approach to AI, believing that sharing code freely will drive penetration. Since DeepSeek also published their code any [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23322/cheaper-ai-probably-mean-more.mp3" length="3219241" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Following Monday’s “sputnik moment” for AI the market has had a few days to consider the ramifications of DeepSeek’s apparent breakthrough. Mark Zuckerberg reaffirmed Meta’s plans to spend $60-65BN on data centers. They have embraced an open-source approach to AI, believing that sharing code freely will drive penetration. Since DeepSeek also published their code any [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:23</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Following Monday’s “sputnik moment” for AI the market has had a few days to consider the ramifications of DeepSeek’s apparent breakthrough. Mark Zuckerberg reaffirmed Meta’s plans to spend $60-65BN on data centers. They have embraced an open-source approach to AI, believing that sharing code freely will drive penetration. Since DeepSeek also published their code any [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Pipelines And The Jevons Paradox</title>
	<link>https://sl-advisors.com/pipelines-and-the-jevons-paradox</link>
	<pubDate>Wed, 29 Jan 2025 11:00:42 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23316</guid>
	<description><![CDATA[Venture capitalist Marc Andreessen called it, ”AI’s sputnik moment.” The news that Chinese start-up Deepseek may have leapt ahead of the US in AI caused an unpleasant start to the week. In 1957 Sputnik’s orbit led to the creation of NASA and fears that Russian satellites could attack the US from space. While Americans have [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Venture capitalist Marc Andreessen called it, ”AI’s sputnik moment.” The news that Chinese start-up Deepseek may have leapt ahead of the US in AI caused an unpleasant start to the week. In 1957 Sputnik’s orbit led to the creation of NASA and fears that R]]></itunes:subtitle>
	<content:encoded><![CDATA[Venture capitalist Marc Andreessen called it, ”AI’s sputnik moment.” The news that Chinese start-up Deepseek may have leapt ahead of the US in AI caused an unpleasant start to the week. In 1957 Sputnik’s orbit led to the creation of NASA and fears that Russian satellites could attack the US from space. While Americans have [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23316/pipelines-and-the-jevons-paradox.mp3" length="3341715" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Venture capitalist Marc Andreessen called it, ”AI’s sputnik moment.” The news that Chinese start-up Deepseek may have leapt ahead of the US in AI caused an unpleasant start to the week. In 1957 Sputnik’s orbit led to the creation of NASA and fears that Russian satellites could attack the US from space. While Americans have [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:49</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Venture capitalist Marc Andreessen called it, ”AI’s sputnik moment.” The news that Chinese start-up Deepseek may have leapt ahead of the US in AI caused an unpleasant start to the week. In 1957 Sputnik’s orbit led to the creation of NASA and fears that Russian satellites could attack the US from space. While Americans have [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Nothing Ventured, Nothing Gained</title>
	<link>https://sl-advisors.com/nothing-ventured-nothing-gained</link>
	<pubDate>Sun, 26 Jan 2025 11:00:27 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23301</guid>
	<description><![CDATA[One source of recent volatility in midstream has come from a stock that wasn’t even listed – Venture Global (VG), the LNG exporter whose IPO priced on Thursday. The fundamentals could not be more positive. Trump has reversed the LNG export pause, wants US energy dominance and asked our trading partners to buy more American [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[One source of recent volatility in midstream has come from a stock that wasn’t even listed – Venture Global (VG), the LNG exporter whose IPO priced on Thursday. The fundamentals could not be more positive. Trump has reversed the LNG export pause, wants U]]></itunes:subtitle>
	<content:encoded><![CDATA[One source of recent volatility in midstream has come from a stock that wasn’t even listed – Venture Global (VG), the LNG exporter whose IPO priced on Thursday. The fundamentals could not be more positive. Trump has reversed the LNG export pause, wants US energy dominance and asked our trading partners to buy more American [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23301/nothing-ventured-nothing-gained.mp3" length="3100567" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[One source of recent volatility in midstream has come from a stock that wasn’t even listed – Venture Global (VG), the LNG exporter whose IPO priced on Thursday. The fundamentals could not be more positive. Trump has reversed the LNG export pause, wants US energy dominance and asked our trading partners to buy more American [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:13</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[One source of recent volatility in midstream has come from a stock that wasn’t even listed – Venture Global (VG), the LNG exporter whose IPO priced on Thursday. The fundamentals could not be more positive. Trump has reversed the LNG export pause, wants US energy dominance and asked our trading partners to buy more American [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Energy Story’s Trifecta</title>
	<link>https://sl-advisors.com/the-energy-storys-trifecta</link>
	<pubDate>Wed, 22 Jan 2025 11:00:12 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23291</guid>
	<description><![CDATA[I was chatting with an investor the other day, and he remarked that there are three powerful legs to the midstream story. They are demand growth for natural gas; attractive valuation; the incoming administration’s support for traditional energy. He felt that there’s too little appreciation of the underlying support from these three elements. Last year [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[I was chatting with an investor the other day, and he remarked that there are three powerful legs to the midstream story. They are demand growth for natural gas; attractive valuation; the incoming administration’s support for traditional energy. He felt ]]></itunes:subtitle>
	<content:encoded><![CDATA[I was chatting with an investor the other day, and he remarked that there are three powerful legs to the midstream story. They are demand growth for natural gas; attractive valuation; the incoming administration’s support for traditional energy. He felt that there’s too little appreciation of the underlying support from these three elements. Last year [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23291/the-energy-storys-trifecta.mp3" length="2863328" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[I was chatting with an investor the other day, and he remarked that there are three powerful legs to the midstream story. They are demand growth for natural gas; attractive valuation; the incoming administration’s support for traditional energy. He felt that there’s too little appreciation of the underlying support from these three elements. Last year [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:00</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[I was chatting with an investor the other day, and he remarked that there are three powerful legs to the midstream story. They are demand growth for natural gas; attractive valuation; the incoming administration’s support for traditional energy. He felt that there’s too little appreciation of the underlying support from these three elements. Last year [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>More Gas Demand Is Coming</title>
	<link>https://sl-advisors.com/more-gas-demand-is-coming</link>
	<pubDate>Sun, 19 Jan 2025 11:00:12 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23283</guid>
	<description><![CDATA[Last week the Energy Information Administration (EIA) released their Short Term Energy Outlook (STEO). People are often surprised to learn that US power demand has remained the same for the past couple of decades – at around 4,000 Terrawatt Hours (TwHs). The economy and population keep growing but offsetting this is improving energy efficiency. Electricity [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Last week the Energy Information Administration (EIA) released their Short Term Energy Outlook (STEO). People are often surprised to learn that US power demand has remained the same for the past couple of decades – at around 4,000 Terrawatt Hours (TwHs).]]></itunes:subtitle>
	<content:encoded><![CDATA[Last week the Energy Information Administration (EIA) released their Short Term Energy Outlook (STEO). People are often surprised to learn that US power demand has remained the same for the past couple of decades – at around 4,000 Terrawatt Hours (TwHs). The economy and population keep growing but offsetting this is improving energy efficiency. Electricity [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23283/more-gas-demand-is-coming.mp3" length="3041248" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Last week the Energy Information Administration (EIA) released their Short Term Energy Outlook (STEO). People are often surprised to learn that US power demand has remained the same for the past couple of decades – at around 4,000 Terrawatt Hours (TwHs). The economy and population keep growing but offsetting this is improving energy efficiency. Electricity [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:58</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Last week the Energy Information Administration (EIA) released their Short Term Energy Outlook (STEO). People are often surprised to learn that US power demand has remained the same for the past couple of decades – at around 4,000 Terrawatt Hours (TwHs). The economy and population keep growing but offsetting this is improving energy efficiency. Electricity [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>New Energy Policies Are Here</title>
	<link>https://sl-advisors.com/new-energy-policies-are-here</link>
	<pubDate>Wed, 15 Jan 2025 11:00:47 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23277</guid>
	<description><![CDATA[It’s now less than a week until Donald Trump takes over in the White House. The past couple of months have caused many to wonder why there’s such a long gap between the election and the inauguration. It’s a holdover from the eighteenth century when the time was required to allow messengers to travel to [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[It’s now less than a week until Donald Trump takes over in the White House. The past couple of months have caused many to wonder why there’s such a long gap between the election and the inauguration. It’s a holdover from the eighteenth century when the t]]></itunes:subtitle>
	<content:encoded><![CDATA[It’s now less than a week until Donald Trump takes over in the White House. The past couple of months have caused many to wonder why there’s such a long gap between the election and the inauguration. It’s a holdover from the eighteenth century when the time was required to allow messengers to travel to [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23277/new-energy-policies-are-here.mp3" length="2915749" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[It’s now less than a week until Donald Trump takes over in the White House. The past couple of months have caused many to wonder why there’s such a long gap between the election and the inauguration. It’s a holdover from the eighteenth century when the time was required to allow messengers to travel to [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:46</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[It’s now less than a week until Donald Trump takes over in the White House. The past couple of months have caused many to wonder why there’s such a long gap between the election and the inauguration. It’s a holdover from the eighteenth century when the time was required to allow messengers to travel to [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Pipeline Earnings Or Cashflow?</title>
	<link>https://sl-advisors.com/pipeline-earnings-or-cashflow</link>
	<pubDate>Sun, 12 Jan 2025 11:00:49 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23263</guid>
	<description><![CDATA[Wells Fargo has recently suggested that the market may start paying more attention to the P/E ratios of midstream stocks. The sector has historically been valued using Free Cash Flow or Distributable Cash Flow (DCF), which is FCF less the maintenance capex necessary to preserve the value of existing assets. P/E hasn’t been used much [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Wells Fargo has recently suggested that the market may start paying more attention to the P/E ratios of midstream stocks. The sector has historically been valued using Free Cash Flow or Distributable Cash Flow (DCF), which is FCF less the maintenance cap]]></itunes:subtitle>
	<content:encoded><![CDATA[Wells Fargo has recently suggested that the market may start paying more attention to the P/E ratios of midstream stocks. The sector has historically been valued using Free Cash Flow or Distributable Cash Flow (DCF), which is FCF less the maintenance capex necessary to preserve the value of existing assets. P/E hasn’t been used much [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23263/pipeline-earnings-or-cashflow.mp3" length="3406264" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Wells Fargo has recently suggested that the market may start paying more attention to the P/E ratios of midstream stocks. The sector has historically been valued using Free Cash Flow or Distributable Cash Flow (DCF), which is FCF less the maintenance capex necessary to preserve the value of existing assets. P/E hasn’t been used much [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:45</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Wells Fargo has recently suggested that the market may start paying more attention to the P/E ratios of midstream stocks. The sector has historically been valued using Free Cash Flow or Distributable Cash Flow (DCF), which is FCF less the maintenance capex necessary to preserve the value of existing assets. P/E hasn’t been used much [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Energy Policies Are Moving Right</title>
	<link>https://sl-advisors.com/energy-policies-are-moving-right</link>
	<pubDate>Wed, 08 Jan 2025 11:00:10 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23251</guid>
	<description><![CDATA[Data center demand for natural gas was the big energy story last year.  Wells Fargo referred to “a momentous year for midstream” with this as the biggest driver. It’s been consistently cited by JPMorgan and Morgan Stanley. Wells Fargo calculated that C-corps outperformed MLPs by 23%. This was a substantial difference and means that the [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Data center demand for natural gas was the big energy story last year.  Wells Fargo referred to “a momentous year for midstream” with this as the biggest driver. It’s been consistently cited by JPMorgan and Morgan Stanley. Wells Fargo calculated that C-c]]></itunes:subtitle>
	<content:encoded><![CDATA[Data center demand for natural gas was the big energy story last year.  Wells Fargo referred to “a momentous year for midstream” with this as the biggest driver. It’s been consistently cited by JPMorgan and Morgan Stanley. Wells Fargo calculated that C-corps outperformed MLPs by 23%. This was a substantial difference and means that the [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23251/energy-policies-are-moving-right.mp3" length="3208144" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Data center demand for natural gas was the big energy story last year.  Wells Fargo referred to “a momentous year for midstream” with this as the biggest driver. It’s been consistently cited by JPMorgan and Morgan Stanley. Wells Fargo calculated that C-corps outperformed MLPs by 23%. This was a substantial difference and means that the [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:21</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Data center demand for natural gas was the big energy story last year.  Wells Fargo referred to “a momentous year for midstream” with this as the biggest driver. It’s been consistently cited by JPMorgan and Morgan Stanley. Wells Fargo calculated that C-corps outperformed MLPs by 23%. This was a substantial difference and means that the [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Last Year’s Favorite Blog Posts</title>
	<link>https://sl-advisors.com/last-years-favorite-blog-posts</link>
	<pubDate>Sun, 05 Jan 2025 11:00:35 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23244</guid>
	<description><![CDATA[We enjoy the feedback from our blog readers, which along with the pageviews inform future topics. Looking back over last year’s posts, natural gas growth, the challenges facing renewables and obstructionist climate extremists were among the themes that resonated most. The most popular post was The Inflationary Energy Transition, which reviewed how US electricity prices [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[We enjoy the feedback from our blog readers, which along with the pageviews inform future topics. Looking back over last year’s posts, natural gas growth, the challenges facing renewables and obstructionist climate extremists were among the themes that r]]></itunes:subtitle>
	<content:encoded><![CDATA[We enjoy the feedback from our blog readers, which along with the pageviews inform future topics. Looking back over last year’s posts, natural gas growth, the challenges facing renewables and obstructionist climate extremists were among the themes that resonated most. The most popular post was The Inflationary Energy Transition, which reviewed how US electricity prices [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23244/last-years-favorite-blog-posts.mp3" length="2972769" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[We enjoy the feedback from our blog readers, which along with the pageviews inform future topics. Looking back over last year’s posts, natural gas growth, the challenges facing renewables and obstructionist climate extremists were among the themes that resonated most. The most popular post was The Inflationary Energy Transition, which reviewed how US electricity prices [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:09</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[We enjoy the feedback from our blog readers, which along with the pageviews inform future topics. Looking back over last year’s posts, natural gas growth, the challenges facing renewables and obstructionist climate extremists were among the themes that resonated most. The most popular post was The Inflationary Energy Transition, which reviewed how US electricity prices [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Economists Having Fun With Inflation</title>
	<link>https://sl-advisors.com/economists-having-fun-with-inflation</link>
	<pubDate>Wed, 01 Jan 2025 11:00:29 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23233</guid>
	<description><![CDATA[The other day I read a tweet complaining that since 1971 household family income had increased 5.5X (from $10K to $55K) while the median cost of a new car has gone up by 12X ($4K to $48K). It’s not quite correct. Median family income has risen to $101K, so has almost kept up. But it [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The other day I read a tweet complaining that since 1971 household family income had increased 5.5X (from $10K to $55K) while the median cost of a new car has gone up by 12X ($4K to $48K). It’s not quite correct. Median family income has risen to $101K, ]]></itunes:subtitle>
	<content:encoded><![CDATA[The other day I read a tweet complaining that since 1971 household family income had increased 5.5X (from $10K to $55K) while the median cost of a new car has gone up by 12X ($4K to $48K). It’s not quite correct. Median family income has risen to $101K, so has almost kept up. But it [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23233/economists-having-fun-with-inflation.mp3" length="2898214" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The other day I read a tweet complaining that since 1971 household family income had increased 5.5X (from $10K to $55K) while the median cost of a new car has gone up by 12X ($4K to $48K). It’s not quite correct. Median family income has risen to $101K, so has almost kept up. But it [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:02</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The other day I read a tweet complaining that since 1971 household family income had increased 5.5X (from $10K to $55K) while the median cost of a new car has gone up by 12X ($4K to $48K). It’s not quite correct. Median family income has risen to $101K, so has almost kept up. But it [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The 8X Energy Transition</title>
	<link>https://sl-advisors.com/the-8x-energy-transition</link>
	<pubDate>Sun, 29 Dec 2024 11:00:06 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23221</guid>
	<description><![CDATA[Over the years I’ve developed a few soundbites to help investors remember why they should invest in midstream energy infrastructure. Once it became clear that climate extremists&#8217; efforts to impede new pipeline construction were boosting free cash flow, I proclaimed that we should all hug our local climate protester and drive them to their next [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Over the years I’ve developed a few soundbites to help investors remember why they should invest in midstream energy infrastructure. Once it became clear that climate extremists&#8217; efforts to impede new pipeline construction were boosting free cash f]]></itunes:subtitle>
	<content:encoded><![CDATA[Over the years I’ve developed a few soundbites to help investors remember why they should invest in midstream energy infrastructure. Once it became clear that climate extremists&#8217; efforts to impede new pipeline construction were boosting free cash flow, I proclaimed that we should all hug our local climate protester and drive them to their next [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23221/the-8x-energy-transition.mp3" length="3002729" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Over the years I’ve developed a few soundbites to help investors remember why they should invest in midstream energy infrastructure. Once it became clear that climate extremists&#8217; efforts to impede new pipeline construction were boosting free cash flow, I proclaimed that we should all hug our local climate protester and drive them to their next [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:13</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Over the years I’ve developed a few soundbites to help investors remember why they should invest in midstream energy infrastructure. Once it became clear that climate extremists&#8217; efforts to impede new pipeline construction were boosting free cash flow, I proclaimed that we should all hug our local climate protester and drive them to their next [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>English Christmas Traditions</title>
	<link>https://sl-advisors.com/english-christmas-traditions</link>
	<pubDate>Wed, 25 Dec 2024 11:00:34 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23215</guid>
	<description><![CDATA[Around this time of year, I’ve often indulged myself in writing about Christmas pudding (for more, watch this video). This English dessert is a rich, dark fruit cake best enjoyed heated with heavy cream. It is an acquired taste, and our children were each offered one brief opportunity to develop a taste for it. While [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Around this time of year, I’ve often indulged myself in writing about Christmas pudding (for more, watch this video). This English dessert is a rich, dark fruit cake best enjoyed heated with heavy cream. It is an acquired taste, and our children were eac]]></itunes:subtitle>
	<content:encoded><![CDATA[Around this time of year, I’ve often indulged myself in writing about Christmas pudding (for more, watch this video). This English dessert is a rich, dark fruit cake best enjoyed heated with heavy cream. It is an acquired taste, and our children were each offered one brief opportunity to develop a taste for it. While [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23215/english-christmas-traditions.mp3" length="2775946" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Around this time of year, I’ve often indulged myself in writing about Christmas pudding (for more, watch this video). This English dessert is a rich, dark fruit cake best enjoyed heated with heavy cream. It is an acquired taste, and our children were each offered one brief opportunity to develop a taste for it. While [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:46</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Around this time of year, I’ve often indulged myself in writing about Christmas pudding (for more, watch this video). This English dessert is a rich, dark fruit cake best enjoyed heated with heavy cream. It is an acquired taste, and our children were each offered one brief opportunity to develop a taste for it. While [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Transatlantic Energy Trade</title>
	<link>https://sl-advisors.com/the-transatlantic-energy-trade</link>
	<pubDate>Sun, 22 Dec 2024 11:00:33 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23207</guid>
	<description><![CDATA[For years the center of gravity for global LNG trade was in Asia. China, India, Japan and South Korea were routinely over 60% of global LNG imports. Asia-Pacific was often over 70%, reaching a high of 75% in 2018. Australia and Qatar were geographically better suited than the US to meet this demand, and our [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[For years the center of gravity for global LNG trade was in Asia. China, India, Japan and South Korea were routinely over 60% of global LNG imports. Asia-Pacific was often over 70%, reaching a high of 75% in 2018. Australia and Qatar were geographically ]]></itunes:subtitle>
	<content:encoded><![CDATA[For years the center of gravity for global LNG trade was in Asia. China, India, Japan and South Korea were routinely over 60% of global LNG imports. Asia-Pacific was often over 70%, reaching a high of 75% in 2018. Australia and Qatar were geographically better suited than the US to meet this demand, and our [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23207/the-transatlantic-energy-trade.mp3" length="3057791" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[For years the center of gravity for global LNG trade was in Asia. China, India, Japan and South Korea were routinely over 60% of global LNG imports. Asia-Pacific was often over 70%, reaching a high of 75% in 2018. Australia and Qatar were geographically better suited than the US to meet this demand, and our [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:11</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[For years the center of gravity for global LNG trade was in Asia. China, India, Japan and South Korea were routinely over 60% of global LNG imports. Asia-Pacific was often over 70%, reaching a high of 75% in 2018. Australia and Qatar were geographically better suited than the US to meet this demand, and our [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Natural Gas Is The Solution</title>
	<link>https://sl-advisors.com/natural-gas-is-the-solution</link>
	<pubDate>Wed, 18 Dec 2024 11:00:13 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23192</guid>
	<description><![CDATA[With forecasts for power demand growth seemingly increasing every month, it’s clear that part of the solution will be “behind the meter”, meaning new natural gas power plants directly connected to their data center customers without the need to connect to the grid. This also sidesteps potential complaints that existing electricity customers are subsidizing the [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[With forecasts for power demand growth seemingly increasing every month, it’s clear that part of the solution will be “behind the meter”, meaning new natural gas power plants directly connected to their data center customers without the need to connect t]]></itunes:subtitle>
	<content:encoded><![CDATA[With forecasts for power demand growth seemingly increasing every month, it’s clear that part of the solution will be “behind the meter”, meaning new natural gas power plants directly connected to their data center customers without the need to connect to the grid. This also sidesteps potential complaints that existing electricity customers are subsidizing the [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23192/natural-gas-is-the-solution.mp3" length="2783176" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[With forecasts for power demand growth seemingly increasing every month, it’s clear that part of the solution will be “behind the meter”, meaning new natural gas power plants directly connected to their data center customers without the need to connect to the grid. This also sidesteps potential complaints that existing electricity customers are subsidizing the [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:50</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[With forecasts for power demand growth seemingly increasing every month, it’s clear that part of the solution will be “behind the meter”, meaning new natural gas power plants directly connected to their data center customers without the need to connect to the grid. This also sidesteps potential complaints that existing electricity customers are subsidizing the [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Measuring The Midstream Mood</title>
	<link>https://sl-advisors.com/measuring-the-midstream-mood</link>
	<pubDate>Sun, 15 Dec 2024 11:00:15 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23185</guid>
	<description><![CDATA[Last week my partner Henry Hoffman attended the 23rd Annual Midstream, Energy, and Utilities Symposium, held by Wells Fargo. The mood was understandably upbeat, underpinned by strong fundamentals and the more coherent regulatory framework expected following the election. Given our focus on natural gas, we were naturally interested in this element of the energy story. [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Last week my partner Henry Hoffman attended the 23rd Annual Midstream, Energy, and Utilities Symposium, held by Wells Fargo. The mood was understandably upbeat, underpinned by strong fundamentals and the more coherent regulatory framework expected follow]]></itunes:subtitle>
	<content:encoded><![CDATA[Last week my partner Henry Hoffman attended the 23rd Annual Midstream, Energy, and Utilities Symposium, held by Wells Fargo. The mood was understandably upbeat, underpinned by strong fundamentals and the more coherent regulatory framework expected following the election. Given our focus on natural gas, we were naturally interested in this element of the energy story. [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23185/measuring-the-midstream-mood.mp3" length="3481594" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Last week my partner Henry Hoffman attended the 23rd Annual Midstream, Energy, and Utilities Symposium, held by Wells Fargo. The mood was understandably upbeat, underpinned by strong fundamentals and the more coherent regulatory framework expected following the election. Given our focus on natural gas, we were naturally interested in this element of the energy story. [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:06:00</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Last week my partner Henry Hoffman attended the 23rd Annual Midstream, Energy, and Utilities Symposium, held by Wells Fargo. The mood was understandably upbeat, underpinned by strong fundamentals and the more coherent regulatory framework expected following the election. Given our focus on natural gas, we were naturally interested in this element of the energy story. [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>US Leads Natural Gas Demand And Supply</title>
	<link>https://sl-advisors.com/us-leads-natural-gas-demand-and-supply</link>
	<pubDate>Wed, 11 Dec 2024 11:00:51 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23179</guid>
	<description><![CDATA[It’s clear that natural gas demand is heading higher over the next few years. It’s less certain that this will push prices higher. New LNG export terminals are going to double our volumes sent overseas over the next five years. The widely criticized pause on LNG permits that President Biden imposed last January only applied [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[It’s clear that natural gas demand is heading higher over the next few years. It’s less certain that this will push prices higher. New LNG export terminals are going to double our volumes sent overseas over the next five years. The widely criticized paus]]></itunes:subtitle>
	<content:encoded><![CDATA[It’s clear that natural gas demand is heading higher over the next few years. It’s less certain that this will push prices higher. New LNG export terminals are going to double our volumes sent overseas over the next five years. The widely criticized pause on LNG permits that President Biden imposed last January only applied [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23179/us-leads-natural-gas-demand-and-supply.mp3" length="3003907" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[It’s clear that natural gas demand is heading higher over the next few years. It’s less certain that this will push prices higher. New LNG export terminals are going to double our volumes sent overseas over the next five years. The widely criticized pause on LNG permits that President Biden imposed last January only applied [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:00</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[It’s clear that natural gas demand is heading higher over the next few years. It’s less certain that this will push prices higher. New LNG export terminals are going to double our volumes sent overseas over the next five years. The widely criticized pause on LNG permits that President Biden imposed last January only applied [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Lemming Leadership</title>
	<link>https://sl-advisors.com/lemming-leadership</link>
	<pubDate>Sun, 08 Dec 2024 11:00:42 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23168</guid>
	<description><![CDATA[Sometimes this blogger stumbles across a phrase that begs to be used as the title for a blog post. Who better to be the subject of this one than the far-left climate extremists whose policies have led to higher energy prices, deindustrialization and job losses. Start with Germany. Ryanair’s CEO Michael O’Leary recently described Germany [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Sometimes this blogger stumbles across a phrase that begs to be used as the title for a blog post. Who better to be the subject of this one than the far-left climate extremists whose policies have led to higher energy prices, deindustrialization and job ]]></itunes:subtitle>
	<content:encoded><![CDATA[Sometimes this blogger stumbles across a phrase that begs to be used as the title for a blog post. Who better to be the subject of this one than the far-left climate extremists whose policies have led to higher energy prices, deindustrialization and job losses. Start with Germany. Ryanair’s CEO Michael O’Leary recently described Germany [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23168/lemming-leadership.mp3" length="3207753" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Sometimes this blogger stumbles across a phrase that begs to be used as the title for a blog post. Who better to be the subject of this one than the far-left climate extremists whose policies have led to higher energy prices, deindustrialization and job losses. Start with Germany. Ryanair’s CEO Michael O’Leary recently described Germany [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:23</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Sometimes this blogger stumbles across a phrase that begs to be used as the title for a blog post. Who better to be the subject of this one than the far-left climate extremists whose policies have led to higher energy prices, deindustrialization and job losses. Start with Germany. Ryanair’s CEO Michael O’Leary recently described Germany [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The 21st Century Fuel: Natural Gas</title>
	<link>https://sl-advisors.com/the-21st-century-fuel-natural-gas</link>
	<pubDate>Wed, 04 Dec 2024 11:00:43 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23150</guid>
	<description><![CDATA[In recent years as extreme views on climate have become increasingly fringe, no hydrocarbon has enjoyed more of a reassessment than natural gas. Enbridge CEO Greg Ebel talks about the “energy evolution” rather than a transition. The US is adding over 140 new gas power plants this year as demand from data centers builds. Accommodating [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[In recent years as extreme views on climate have become increasingly fringe, no hydrocarbon has enjoyed more of a reassessment than natural gas. Enbridge CEO Greg Ebel talks about the “energy evolution” rather than a transition. The US is adding over 140]]></itunes:subtitle>
	<content:encoded><![CDATA[In recent years as extreme views on climate have become increasingly fringe, no hydrocarbon has enjoyed more of a reassessment than natural gas. Enbridge CEO Greg Ebel talks about the “energy evolution” rather than a transition. The US is adding over 140 new gas power plants this year as demand from data centers builds. Accommodating [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23150/the-21st-century-fuel-natural-gas.mp3" length="3018330" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[In recent years as extreme views on climate have become increasingly fringe, no hydrocarbon has enjoyed more of a reassessment than natural gas. Enbridge CEO Greg Ebel talks about the “energy evolution” rather than a transition. The US is adding over 140 new gas power plants this year as demand from data centers builds. Accommodating [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:04</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[In recent years as extreme views on climate have become increasingly fringe, no hydrocarbon has enjoyed more of a reassessment than natural gas. Enbridge CEO Greg Ebel talks about the “energy evolution” rather than a transition. The US is adding over 140 new gas power plants this year as demand from data centers builds. Accommodating [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>November Was A Great Year</title>
	<link>https://sl-advisors.com/november-was-a-great-year</link>
	<pubDate>Sun, 01 Dec 2024 11:00:12 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23141</guid>
	<description><![CDATA[Like millions of families across America, on Thanksgiving we gave thanks for being with friends and family, along with “&#8230;sunny days and that we’re all together.” I added a silent appreciation that left-wing climate extremists were resoundingly defeated on November 5th. The market’s realization that the election had ushered in sensible, pro-American energy policies took [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Like millions of families across America, on Thanksgiving we gave thanks for being with friends and family, along with “&#8230;sunny days and that we’re all together.” I added a silent appreciation that left-wing climate extremists were resoundingly defe]]></itunes:subtitle>
	<content:encoded><![CDATA[Like millions of families across America, on Thanksgiving we gave thanks for being with friends and family, along with “&#8230;sunny days and that we’re all together.” I added a silent appreciation that left-wing climate extremists were resoundingly defeated on November 5th. The market’s realization that the election had ushered in sensible, pro-American energy policies took [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23141/november-was-a-great-year.mp3" length="3083689" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Like millions of families across America, on Thanksgiving we gave thanks for being with friends and family, along with “&#8230;sunny days and that we’re all together.” I added a silent appreciation that left-wing climate extremists were resoundingly defeated on November 5th. The market’s realization that the election had ushered in sensible, pro-American energy policies took [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:12</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Like millions of families across America, on Thanksgiving we gave thanks for being with friends and family, along with “&#8230;sunny days and that we’re all together.” I added a silent appreciation that left-wing climate extremists were resoundingly defeated on November 5th. The market’s realization that the election had ushered in sensible, pro-American energy policies took [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Midstream’s Goldilocks Phase</title>
	<link>https://sl-advisors.com/midstreams-goldilocks-phase</link>
	<pubDate>Wed, 27 Nov 2024 11:00:49 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23133</guid>
	<description><![CDATA[The word of the week is re-rating. Both Wells Fargo and Morgan Stanley have suggested that, notwithstanding this year’s 50%+ return in midstream energy infrastructure, further upside is possible. They posit that a re-rating of the sector would not be unreasonable given the strong fundamentals. Enterprise Value/EBITDA (EV/EBITDA) is a widely used valuation metric, although [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The word of the week is re-rating. Both Wells Fargo and Morgan Stanley have suggested that, notwithstanding this year’s 50%+ return in midstream energy infrastructure, further upside is possible. They posit that a re-rating of the sector would not be unr]]></itunes:subtitle>
	<content:encoded><![CDATA[The word of the week is re-rating. Both Wells Fargo and Morgan Stanley have suggested that, notwithstanding this year’s 50%+ return in midstream energy infrastructure, further upside is possible. They posit that a re-rating of the sector would not be unreasonable given the strong fundamentals. Enterprise Value/EBITDA (EV/EBITDA) is a widely used valuation metric, although [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23133/midstreams-goldilocks-phase.mp3" length="3016943" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The word of the week is re-rating. Both Wells Fargo and Morgan Stanley have suggested that, notwithstanding this year’s 50%+ return in midstream energy infrastructure, further upside is possible. They posit that a re-rating of the sector would not be unreasonable given the strong fundamentals. Enterprise Value/EBITDA (EV/EBITDA) is a widely used valuation metric, although [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:11</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The word of the week is re-rating. Both Wells Fargo and Morgan Stanley have suggested that, notwithstanding this year’s 50%+ return in midstream energy infrastructure, further upside is possible. They posit that a re-rating of the sector would not be unreasonable given the strong fundamentals. Enterprise Value/EBITDA (EV/EBITDA) is a widely used valuation metric, although [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Pipelines Are Cheap; Stocks Are Not</title>
	<link>https://sl-advisors.com/pipelines-are-cheap-stocks-are-not</link>
	<pubDate>Sun, 24 Nov 2024 11:00:15 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23128</guid>
	<description><![CDATA[Market strategists often point out that valuations aren’t a good timing tool, but it’s still worth staying on top of whether the market is cheap or not. Stocks were having a good year leading into the election, and the Republican sweep took the market another leg higher. Residents of Naples, FL, our winter home, are [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Market strategists often point out that valuations aren’t a good timing tool, but it’s still worth staying on top of whether the market is cheap or not. Stocks were having a good year leading into the election, and the Republican sweep took the market an]]></itunes:subtitle>
	<content:encoded><![CDATA[Market strategists often point out that valuations aren’t a good timing tool, but it’s still worth staying on top of whether the market is cheap or not. Stocks were having a good year leading into the election, and the Republican sweep took the market another leg higher. Residents of Naples, FL, our winter home, are [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23128/pipelines-are-cheap-stocks-are-not.mp3" length="3158260" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Market strategists often point out that valuations aren’t a good timing tool, but it’s still worth staying on top of whether the market is cheap or not. Stocks were having a good year leading into the election, and the Republican sweep took the market another leg higher. Residents of Naples, FL, our winter home, are [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:03</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Market strategists often point out that valuations aren’t a good timing tool, but it’s still worth staying on top of whether the market is cheap or not. Stocks were having a good year leading into the election, and the Republican sweep took the market another leg higher. Residents of Naples, FL, our winter home, are [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>An Energy Secretary With Relevant Experience</title>
	<link>https://sl-advisors.com/an-energy-secretary-with-relevant-experience</link>
	<pubDate>Wed, 20 Nov 2024 11:00:37 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23116</guid>
	<description><![CDATA[Sitting next to me at Newark airport on Monday while I waited to board an airplane was an FT reporter. I know this because he made a phone call to discuss the Trump appointments “on background” with a source who, based on one side of the conversation, had recently been in Mar-a-Lago. Chris Wright, Trump’s [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Sitting next to me at Newark airport on Monday while I waited to board an airplane was an FT reporter. I know this because he made a phone call to discuss the Trump appointments “on background” with a source who, based on one side of the conversation, ha]]></itunes:subtitle>
	<content:encoded><![CDATA[Sitting next to me at Newark airport on Monday while I waited to board an airplane was an FT reporter. I know this because he made a phone call to discuss the Trump appointments “on background” with a source who, based on one side of the conversation, had recently been in Mar-a-Lago. Chris Wright, Trump’s [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23116/an-energy-secretary-with-relevant-experience.mp3" length="3119675" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Sitting next to me at Newark airport on Monday while I waited to board an airplane was an FT reporter. I know this because he made a phone call to discuss the Trump appointments “on background” with a source who, based on one side of the conversation, had recently been in Mar-a-Lago. Chris Wright, Trump’s [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:12</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Sitting next to me at Newark airport on Monday while I waited to board an airplane was an FT reporter. I know this because he made a phone call to discuss the Trump appointments “on background” with a source who, based on one side of the conversation, had recently been in Mar-a-Lago. Chris Wright, Trump’s [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Pipeline Real Yields Are High</title>
	<link>https://sl-advisors.com/pipeline-real-yields-are-high</link>
	<pubDate>Sun, 17 Nov 2024 11:00:11 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23106</guid>
	<description><![CDATA[When investors ask what return they should expect from an investment in midstream, we typically suggest dividends plus growth plus buybacks. Dividend yields are around 5%. Wells Fargo is forecasting 4% dividend growth next year, and buybacks of around 2% of market cap. 5% + 4% + 2% suggests an 11% total return, assuming no [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[When investors ask what return they should expect from an investment in midstream, we typically suggest dividends plus growth plus buybacks. Dividend yields are around 5%. Wells Fargo is forecasting 4% dividend growth next year, and buybacks of around 2%]]></itunes:subtitle>
	<content:encoded><![CDATA[When investors ask what return they should expect from an investment in midstream, we typically suggest dividends plus growth plus buybacks. Dividend yields are around 5%. Wells Fargo is forecasting 4% dividend growth next year, and buybacks of around 2% of market cap. 5% + 4% + 2% suggests an 11% total return, assuming no [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23106/pipeline-real-yields-are-high.mp3" length="3135753" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[When investors ask what return they should expect from an investment in midstream, we typically suggest dividends plus growth plus buybacks. Dividend yields are around 5%. Wells Fargo is forecasting 4% dividend growth next year, and buybacks of around 2% of market cap. 5% + 4% + 2% suggests an 11% total return, assuming no [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:16</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[When investors ask what return they should expect from an investment in midstream, we typically suggest dividends plus growth plus buybacks. Dividend yields are around 5%. Wells Fargo is forecasting 4% dividend growth next year, and buybacks of around 2% of market cap. 5% + 4% + 2% suggests an 11% total return, assuming no [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Pro-Energy Election</title>
	<link>https://sl-advisors.com/the-pro-energy-election</link>
	<pubDate>Wed, 13 Nov 2024 11:00:52 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23100</guid>
	<description><![CDATA[As the market absorbed last week’s election results, energy was the clear winner. On the week, midstream infrastructure returned +8.4% while the S&#38;P500 was +4.7%. The main driver of outperformance is the expectation of a regulatory regime not beholden to climate extremists. The pause on LNG export permits will be lifted. Although many expected this [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[As the market absorbed last week’s election results, energy was the clear winner. On the week, midstream infrastructure returned +8.4% while the S&#38;P500 was +4.7%. The main driver of outperformance is the expectation of a regulatory regime not beholde]]></itunes:subtitle>
	<content:encoded><![CDATA[As the market absorbed last week’s election results, energy was the clear winner. On the week, midstream infrastructure returned +8.4% while the S&#38;P500 was +4.7%. The main driver of outperformance is the expectation of a regulatory regime not beholden to climate extremists. The pause on LNG export permits will be lifted. Although many expected this [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23100/the-pro-energy-election.mp3" length="3311070" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[As the market absorbed last week’s election results, energy was the clear winner. On the week, midstream infrastructure returned +8.4% while the S&#38;P500 was +4.7%. The main driver of outperformance is the expectation of a regulatory regime not beholden to climate extremists. The pause on LNG export permits will be lifted. Although many expected this [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:47</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[As the market absorbed last week’s election results, energy was the clear winner. On the week, midstream infrastructure returned +8.4% while the S&#38;P500 was +4.7%. The main driver of outperformance is the expectation of a regulatory regime not beholden to climate extremists. The pause on LNG export permits will be lifted. Although many expected this [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Trump Energizes The Pipeline Sector</title>
	<link>https://sl-advisors.com/trump-energizes-the-pipeline-sector</link>
	<pubDate>Sun, 10 Nov 2024 11:00:20 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23086</guid>
	<description><![CDATA[Donald Trump’s political comeback looks a lot like the recovery in the energy sector. In March 2020 during the pandemic pipeline stocks slumped as crude oil prices briefly turned negative. Within a year Trump was out of office, faced numerous civil and criminal charges and was widely believed to be a one-term president. By then [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Donald Trump’s political comeback looks a lot like the recovery in the energy sector. In March 2020 during the pandemic pipeline stocks slumped as crude oil prices briefly turned negative. Within a year Trump was out of office, faced numerous civil and c]]></itunes:subtitle>
	<content:encoded><![CDATA[Donald Trump’s political comeback looks a lot like the recovery in the energy sector. In March 2020 during the pandemic pipeline stocks slumped as crude oil prices briefly turned negative. Within a year Trump was out of office, faced numerous civil and criminal charges and was widely believed to be a one-term president. By then [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23086/trump-energizes-the-pipeline-sector.mp3" length="4052469" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Donald Trump’s political comeback looks a lot like the recovery in the energy sector. In March 2020 during the pandemic pipeline stocks slumped as crude oil prices briefly turned negative. Within a year Trump was out of office, faced numerous civil and criminal charges and was widely believed to be a one-term president. By then [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:06:47</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Donald Trump’s political comeback looks a lot like the recovery in the energy sector. In March 2020 during the pandemic pipeline stocks slumped as crude oil prices briefly turned negative. Within a year Trump was out of office, faced numerous civil and criminal charges and was widely believed to be a one-term president. By then [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>There&#8217;s No AI in AMLP</title>
	<link>https://sl-advisors.com/theres-no-ai-in-amlp</link>
	<pubDate>Wed, 06 Nov 2024 11:00:50 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23081</guid>
	<description><![CDATA[Performance in the pipeline sector remains strong – closing in on its fourth straight year beating the S&#38;P500 and ahead overall for the past five. But for the past six months the Alerian MLP Infrastructure ETF (AMLP) has increasingly lagged the sector, as defined by the American Energy Independence Index. AMLP is more or less [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Performance in the pipeline sector remains strong – closing in on its fourth straight year beating the S&#38;P500 and ahead overall for the past five. But for the past six months the Alerian MLP Infrastructure ETF (AMLP) has increasingly lagged the secto]]></itunes:subtitle>
	<content:encoded><![CDATA[Performance in the pipeline sector remains strong – closing in on its fourth straight year beating the S&#38;P500 and ahead overall for the past five. But for the past six months the Alerian MLP Infrastructure ETF (AMLP) has increasingly lagged the sector, as defined by the American Energy Independence Index. AMLP is more or less [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23081/theres-no-ai-in-amlp.mp3" length="3075573" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Performance in the pipeline sector remains strong – closing in on its fourth straight year beating the S&#38;P500 and ahead overall for the past five. But for the past six months the Alerian MLP Infrastructure ETF (AMLP) has increasingly lagged the sector, as defined by the American Energy Independence Index. AMLP is more or less [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:05</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Performance in the pipeline sector remains strong – closing in on its fourth straight year beating the S&#38;P500 and ahead overall for the past five. But for the past six months the Alerian MLP Infrastructure ETF (AMLP) has increasingly lagged the sector, as defined by the American Energy Independence Index. AMLP is more or less [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Which Pipeline Companies Are Best At Capital Allocation?</title>
	<link>https://sl-advisors.com/which-pipeline-companies-are-best-at-capital-allocation</link>
	<pubDate>Sun, 03 Nov 2024 11:00:44 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23071</guid>
	<description><![CDATA[An axiom of capitalism is that a business must earn a Return On Invested Capital (ROIC) in excess of its Weighted Average Cost of Capital (WACC). It’s just as true for a lemonade stand as for a conglomerate. I should note here that fifteen years ago our younger daughter (then about nine years old) set [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[An axiom of capitalism is that a business must earn a Return On Invested Capital (ROIC) in excess of its Weighted Average Cost of Capital (WACC). It’s just as true for a lemonade stand as for a conglomerate. I should note here that fifteen years ago our ]]></itunes:subtitle>
	<content:encoded><![CDATA[An axiom of capitalism is that a business must earn a Return On Invested Capital (ROIC) in excess of its Weighted Average Cost of Capital (WACC). It’s just as true for a lemonade stand as for a conglomerate. I should note here that fifteen years ago our younger daughter (then about nine years old) set [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23071/which-pipeline-companies-are-best-at-capital-allocation.mp3" length="3120893" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[An axiom of capitalism is that a business must earn a Return On Invested Capital (ROIC) in excess of its Weighted Average Cost of Capital (WACC). It’s just as true for a lemonade stand as for a conglomerate. I should note here that fifteen years ago our younger daughter (then about nine years old) set [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:14</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[An axiom of capitalism is that a business must earn a Return On Invested Capital (ROIC) in excess of its Weighted Average Cost of Capital (WACC). It’s just as true for a lemonade stand as for a conglomerate. I should note here that fifteen years ago our younger daughter (then about nine years old) set [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Climate Benefits Of LNG</title>
	<link>https://sl-advisors.com/the-climate-benefits-of-lng</link>
	<pubDate>Wed, 30 Oct 2024 10:00:11 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23062</guid>
	<description><![CDATA[The pause in issuing new Liquefied Natural Gas (LNG) permits is among the least defensible energy policies of this Administration. It has been widely criticized. Jamie Dimon called it naive, and the International Energy Agency worries that it will impede the supply of natural gas on global markets. The US Department of Energy (DOE), which [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The pause in issuing new Liquefied Natural Gas (LNG) permits is among the least defensible energy policies of this Administration. It has been widely criticized. Jamie Dimon called it naive, and the International Energy Agency worries that it will impede]]></itunes:subtitle>
	<content:encoded><![CDATA[The pause in issuing new Liquefied Natural Gas (LNG) permits is among the least defensible energy policies of this Administration. It has been widely criticized. Jamie Dimon called it naive, and the International Energy Agency worries that it will impede the supply of natural gas on global markets. The US Department of Energy (DOE), which [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23062/the-climate-benefits-of-lng.mp3" length="3309104" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The pause in issuing new Liquefied Natural Gas (LNG) permits is among the least defensible energy policies of this Administration. It has been widely criticized. Jamie Dimon called it naive, and the International Energy Agency worries that it will impede the supply of natural gas on global markets. The US Department of Energy (DOE), which [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:41</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The pause in issuing new Liquefied Natural Gas (LNG) permits is among the least defensible energy policies of this Administration. It has been widely criticized. Jamie Dimon called it naive, and the International Energy Agency worries that it will impede the supply of natural gas on global markets. The US Department of Energy (DOE), which [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Natural Gas Energy Transition</title>
	<link>https://sl-advisors.com/the-natural-gas-energy-transition</link>
	<pubDate>Sun, 27 Oct 2024 10:00:26 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23056</guid>
	<description><![CDATA[The long term demand outlook for natural gas continues to improve. India is likely to double its consumption by 2040, and much of that will rely on imports of Liquefied Natural Gas (LNG). This will offset coal consumption, lowering local pollution as well as CO2 emissions. The International Energy Agency (IEA), normally a tireless promoter [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The long term demand outlook for natural gas continues to improve. India is likely to double its consumption by 2040, and much of that will rely on imports of Liquefied Natural Gas (LNG). This will offset coal consumption, lowering local pollution as wel]]></itunes:subtitle>
	<content:encoded><![CDATA[The long term demand outlook for natural gas continues to improve. India is likely to double its consumption by 2040, and much of that will rely on imports of Liquefied Natural Gas (LNG). This will offset coal consumption, lowering local pollution as well as CO2 emissions. The International Energy Agency (IEA), normally a tireless promoter [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23056/the-natural-gas-energy-transition.mp3" length="2839475" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The long term demand outlook for natural gas continues to improve. India is likely to double its consumption by 2040, and much of that will rely on imports of Liquefied Natural Gas (LNG). This will offset coal consumption, lowering local pollution as well as CO2 emissions. The International Energy Agency (IEA), normally a tireless promoter [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:52</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The long term demand outlook for natural gas continues to improve. India is likely to double its consumption by 2040, and much of that will rely on imports of Liquefied Natural Gas (LNG). This will offset coal consumption, lowering local pollution as well as CO2 emissions. The International Energy Agency (IEA), normally a tireless promoter [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Spinning Off Value</title>
	<link>https://sl-advisors.com/spinning-off-value</link>
	<pubDate>Wed, 23 Oct 2024 10:00:54 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23044</guid>
	<description><![CDATA[A couple of weeks ago South Bow Corporation (SOBO) began trading on Nasdaq. It’s a spin-off from TC Energy (TRP) which decided to split its liquids business off from its core natural gas pipeline activities. SOBO operates the Keystone pipeline that moves crude oil from Hardisty in Alberta south via Cushing, OK to Houston and [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[A couple of weeks ago South Bow Corporation (SOBO) began trading on Nasdaq. It’s a spin-off from TC Energy (TRP) which decided to split its liquids business off from its core natural gas pipeline activities. SOBO operates the Keystone pipeline that moves]]></itunes:subtitle>
	<content:encoded><![CDATA[A couple of weeks ago South Bow Corporation (SOBO) began trading on Nasdaq. It’s a spin-off from TC Energy (TRP) which decided to split its liquids business off from its core natural gas pipeline activities. SOBO operates the Keystone pipeline that moves crude oil from Hardisty in Alberta south via Cushing, OK to Houston and [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23044/spinning-off-value.mp3" length="3319954" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[A couple of weeks ago South Bow Corporation (SOBO) began trading on Nasdaq. It’s a spin-off from TC Energy (TRP) which decided to split its liquids business off from its core natural gas pipeline activities. SOBO operates the Keystone pipeline that moves crude oil from Hardisty in Alberta south via Cushing, OK to Houston and [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:42</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[A couple of weeks ago South Bow Corporation (SOBO) began trading on Nasdaq. It’s a spin-off from TC Energy (TRP) which decided to split its liquids business off from its core natural gas pipeline activities. SOBO operates the Keystone pipeline that moves crude oil from Hardisty in Alberta south via Cushing, OK to Houston and [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Energy Lifts Poor Countries Up</title>
	<link>https://sl-advisors.com/energy-lifts-poor-countries-up</link>
	<pubDate>Sun, 20 Oct 2024 10:00:27 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23039</guid>
	<description><![CDATA[The International Energy Agency (IEA) released their 2024 World Energy Outlook last week. The IEA has become a renewables cheerleader in recent years, issuing projections of energy consumption that are frequently implausible. However, they still produce a Stated Policies Scenario (“STEPS”) which omits their more fanciful projections. Electricity demand from data centers has been a [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[The International Energy Agency (IEA) released their 2024 World Energy Outlook last week. The IEA has become a renewables cheerleader in recent years, issuing projections of energy consumption that are frequently implausible. However, they still produce ]]></itunes:subtitle>
	<content:encoded><![CDATA[The International Energy Agency (IEA) released their 2024 World Energy Outlook last week. The IEA has become a renewables cheerleader in recent years, issuing projections of energy consumption that are frequently implausible. However, they still produce a Stated Policies Scenario (“STEPS”) which omits their more fanciful projections. Electricity demand from data centers has been a [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23039/energy-lifts-poor-countries-up.mp3" length="2806488" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[The International Energy Agency (IEA) released their 2024 World Energy Outlook last week. The IEA has become a renewables cheerleader in recent years, issuing projections of energy consumption that are frequently implausible. However, they still produce a Stated Policies Scenario (“STEPS”) which omits their more fanciful projections. Electricity demand from data centers has been a [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:06</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[The International Energy Agency (IEA) released their 2024 World Energy Outlook last week. The IEA has become a renewables cheerleader in recent years, issuing projections of energy consumption that are frequently implausible. However, they still produce a Stated Policies Scenario (“STEPS”) which omits their more fanciful projections. Electricity demand from data centers has been a [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>There’s No Deficit On This Year’s Ballot</title>
	<link>https://sl-advisors.com/theres-no-deficit-on-this-years-ballot</link>
	<pubDate>Wed, 16 Oct 2024 10:00:40 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23025</guid>
	<description><![CDATA[Politicians from both parties long ago learned that fiscal prudence leads to electoral oblivion. Therefore, the absence of the deficit as a topic of conversation should surprise no-one. Publicly owned Federal debt is 99% of GDP and the Congressional Budget Office (CBO) is forecasting that this will reach 166% over the next three decades. Trump [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Politicians from both parties long ago learned that fiscal prudence leads to electoral oblivion. Therefore, the absence of the deficit as a topic of conversation should surprise no-one. Publicly owned Federal debt is 99% of GDP and the Congressional Budg]]></itunes:subtitle>
	<content:encoded><![CDATA[Politicians from both parties long ago learned that fiscal prudence leads to electoral oblivion. Therefore, the absence of the deficit as a topic of conversation should surprise no-one. Publicly owned Federal debt is 99% of GDP and the Congressional Budget Office (CBO) is forecasting that this will reach 166% over the next three decades. Trump [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23025/theres-no-deficit-on-this-years-ballot.mp3" length="3116223" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Politicians from both parties long ago learned that fiscal prudence leads to electoral oblivion. Therefore, the absence of the deficit as a topic of conversation should surprise no-one. Publicly owned Federal debt is 99% of GDP and the Congressional Budget Office (CBO) is forecasting that this will reach 166% over the next three decades. Trump [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:09</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Politicians from both parties long ago learned that fiscal prudence leads to electoral oblivion. Therefore, the absence of the deficit as a topic of conversation should surprise no-one. Publicly owned Federal debt is 99% of GDP and the Congressional Budget Office (CBO) is forecasting that this will reach 166% over the next three decades. Trump [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Common Questions About The Pipeline Sector</title>
	<link>https://sl-advisors.com/common-questions-about-the-pipeline-sector</link>
	<pubDate>Sun, 13 Oct 2024 10:00:08 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23019</guid>
	<description><![CDATA[We received a few comments from readers in response to last Sunday’s Heat Pumps Need Natural Gas. While EVs are widely criticized for the issues with charging, where heat pumps are installed, they seem to operate with little controversy. Defenders were quick to point out the benefits. One client in California uses solar power + [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[We received a few comments from readers in response to last Sunday’s Heat Pumps Need Natural Gas. While EVs are widely criticized for the issues with charging, where heat pumps are installed, they seem to operate with little controversy. Defenders were q]]></itunes:subtitle>
	<content:encoded><![CDATA[We received a few comments from readers in response to last Sunday’s Heat Pumps Need Natural Gas. While EVs are widely criticized for the issues with charging, where heat pumps are installed, they seem to operate with little controversy. Defenders were quick to point out the benefits. One client in California uses solar power + [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23019/common-questions-about-the-pipeline-sector.mp3" length="2779801" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[We received a few comments from readers in response to last Sunday’s Heat Pumps Need Natural Gas. While EVs are widely criticized for the issues with charging, where heat pumps are installed, they seem to operate with little controversy. Defenders were quick to point out the benefits. One client in California uses solar power + [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:42</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[We received a few comments from readers in response to last Sunday’s Heat Pumps Need Natural Gas. While EVs are widely criticized for the issues with charging, where heat pumps are installed, they seem to operate with little controversy. Defenders were quick to point out the benefits. One client in California uses solar power + [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>BP Decides To Follow The Money</title>
	<link>https://sl-advisors.com/bp-decides-to-follow-the-money</link>
	<pubDate>Wed, 09 Oct 2024 10:00:54 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=23006</guid>
	<description><![CDATA[Some may find irony in BP dropping its goal of reduced oil and gas output by 2030 at the same time as Hurricane Milton is barreling towards southwest Florida – the second hurricane in two weeks. Four years ago, BP pledged to cut hydrocarbon output by 40% within a decade. Two years ago they scaled [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Some may find irony in BP dropping its goal of reduced oil and gas output by 2030 at the same time as Hurricane Milton is barreling towards southwest Florida – the second hurricane in two weeks. Four years ago, BP pledged to cut hydrocarbon output by 40%]]></itunes:subtitle>
	<content:encoded><![CDATA[Some may find irony in BP dropping its goal of reduced oil and gas output by 2030 at the same time as Hurricane Milton is barreling towards southwest Florida – the second hurricane in two weeks. Four years ago, BP pledged to cut hydrocarbon output by 40% within a decade. Two years ago they scaled [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/23006/bp-decides-to-follow-the-money.mp3" length="2797627" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Some may find irony in BP dropping its goal of reduced oil and gas output by 2030 at the same time as Hurricane Milton is barreling towards southwest Florida – the second hurricane in two weeks. Four years ago, BP pledged to cut hydrocarbon output by 40% within a decade. Two years ago they scaled [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:04:44</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Some may find irony in BP dropping its goal of reduced oil and gas output by 2030 at the same time as Hurricane Milton is barreling towards southwest Florida – the second hurricane in two weeks. Four years ago, BP pledged to cut hydrocarbon output by 40% within a decade. Two years ago they scaled [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>Heat Pumps Need Natural Gas</title>
	<link>https://sl-advisors.com/heat-pumps-need-natural-gas</link>
	<pubDate>Sun, 06 Oct 2024 10:00:46 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=22974</guid>
	<description><![CDATA[I was surprised to read the other day that sales of heat pumps across Europe dropped 47% in 1H24 versus a year earlier. The EU has adopted more aggressive policies to combat climate change than any other region. Residential adoption of heat pumps is part of their green agenda. We recently replaced an oil furnace [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[I was surprised to read the other day that sales of heat pumps across Europe dropped 47% in 1H24 versus a year earlier. The EU has adopted more aggressive policies to combat climate change than any other region. Residential adoption of heat pumps is part]]></itunes:subtitle>
	<content:encoded><![CDATA[I was surprised to read the other day that sales of heat pumps across Europe dropped 47% in 1H24 versus a year earlier. The EU has adopted more aggressive policies to combat climate change than any other region. Residential adoption of heat pumps is part of their green agenda. We recently replaced an oil furnace [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/22974/heat-pumps-need-natural-gas.mp3" length="3002041" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[I was surprised to read the other day that sales of heat pumps across Europe dropped 47% in 1H24 versus a year earlier. The EU has adopted more aggressive policies to combat climate change than any other region. Residential adoption of heat pumps is part of their green agenda. We recently replaced an oil furnace [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:00</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[I was surprised to read the other day that sales of heat pumps across Europe dropped 47% in 1H24 versus a year earlier. The EU has adopted more aggressive policies to combat climate change than any other region. Residential adoption of heat pumps is part of their green agenda. We recently replaced an oil furnace [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>

<item>
	<title>The Energy Transition Towards Natural Gas</title>
	<link>https://sl-advisors.com/the-energy-transition-towards-natural-gas</link>
	<pubDate>Wed, 02 Oct 2024 10:00:10 +0000</pubDate>
	<dc:creator><![CDATA[SL Advisors, LLC]]></dc:creator>
	<guid isPermaLink="false">https://sl-advisors.com/?p=22981</guid>
	<description><![CDATA[Revisions this year for the ten year growth outlook for US power demand because of AI data centers have provided support for midstream energy stocks, as additional natural gas will be needed (see The Coming Fight Over Powering AI). A recent report from Morgan Stanley (Global Clean Power – At a tipping point) expands this [&#8230;]]]></description>
	<itunes:subtitle><![CDATA[Revisions this year for the ten year growth outlook for US power demand because of AI data centers have provided support for midstream energy stocks, as additional natural gas will be needed (see The Coming Fight Over Powering AI). A recent report from M]]></itunes:subtitle>
	<content:encoded><![CDATA[Revisions this year for the ten year growth outlook for US power demand because of AI data centers have provided support for midstream energy stocks, as additional natural gas will be needed (see The Coming Fight Over Powering AI). A recent report from Morgan Stanley (Global Clean Power – At a tipping point) expands this [&#8230;]]]></content:encoded>
	<enclosure url="https://sl-advisors.com/podcast-download/22981/the-energy-transition-towards-natural-gas.mp3" length="2919261" type="audio/mpeg"></enclosure>
	<itunes:summary><![CDATA[Revisions this year for the ten year growth outlook for US power demand because of AI data centers have provided support for midstream energy stocks, as additional natural gas will be needed (see The Coming Fight Over Powering AI). A recent report from Morgan Stanley (Global Clean Power – At a tipping point) expands this [&#8230;]]]></itunes:summary>
	<itunes:explicit>false</itunes:explicit>
	<itunes:block>no</itunes:block>
	<itunes:duration>00:05:20</itunes:duration>
	<itunes:author><![CDATA[SL Advisors, LLC]]></itunes:author>	<googleplay:description><![CDATA[Revisions this year for the ten year growth outlook for US power demand because of AI data centers have provided support for midstream energy stocks, as additional natural gas will be needed (see The Coming Fight Over Powering AI). A recent report from Morgan Stanley (Global Clean Power – At a tipping point) expands this [&#8230;]]]></googleplay:description>
	<googleplay:explicit>No</googleplay:explicit>
	<googleplay:block>no</googleplay:block>
</item>
	</channel>
</rss>
