Blog
THE AI REVOLUTION NEEDS ENERGY
US natural gas demand is growing to supply data centers and LNG exports. We believe midstream energy infrastructure offers predictable cash flows to investors.
The Blue Wave
Republicans may be reeling after the midterms, but energy investors should remember that the sector has done at least as well under Democrats as Republicans. US energy exports continue to grow. Our gas is abundant and cheap. Fundamentals matter.
The Shale Revolution Up Close
I’ve always wanted to visit an oil rig. It’s not easy. They don’t want every investor showing up and being a nuisance, distracting workers and getting in the way. Fortunately, Aaron Irving of Carlsbad, NM, a long-time investor, kindly offered to set up a visit through a friend of his, Arsenio Jones (EHS Field Supervisor) […]
Oil Markets Price In Higher For Longer
Since the Iran War began at the end of February, oil analysts and industry professionals have been warning that the price of crude was increasingly likely to move sharply higher. Storage is depleted. Tanker traffic through the Strait of Hormuz fluctuates with the success of Iranian attacks. Spot crude was recently back at the highs […]
The World Keeps Buying More American Energy
An investor asked me the other day what’s the most interesting theme across our portfolios. It has to be the export story. This blog often chronicles the outlook for US exports of hydrocarbons. Prospects improved with the war on Iran, and the protracted closure of the Strait of Hormuz is adding to the appeal of […]
It’s Not Inflation, For Now
Inflation fears are the widely held explanation for the continued rise in bond yields. This strikes us as an inadequate response that doesn’t correspond with the facts. Inflation expectations are not budging – either as reflected in the TIPS market or in survey data. Real yields are at their highest since the Great Financial Crisis, […]