EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors.
Real Returns On Bonds Are Gone
A recent short term strategy outlook from a large buyside firm walked through market expectations for Fed policy, S&P earnings, the election and drew conclusions about the likely direction of stocks over the next six months. Such analysis is endlessly fascinating even if trading profits are unreliable. The essay touched on, but didn’t examine, what […]
Reviewing Russell Gold’s The Boom
Although Russell Gold’s The Boom: How Fracking Ignited the American Energy Revolution and Changed the World is now almost five years old, it still provides a relevant commentary on America’s Shale Revolution. Unlike many other chroniclers of America’s energy renaissance, Gold managed to obtain an invitation to see first-hand how drillers unlock hydrocarbons from shale. […]
Texas Reconsiders Flaring
Nothing exemplifies America’s low natural gas prices more than its flaring where takeaway infrastructure is inadequate. In the Permian basin in West Texas and New Mexico, from where most of the growth in crude production originates, associated natural gas is more often a disposal problem, like wastewater. Oil production has grown faster than expected, leaving […]
Partnering with Pipeline Protesters
Suppose that the owner of a pipeline operating at 100% capacity opposed the construction by a competitor seeking to meet unsatisfied demand. Or consider two operators of competing pipelines that agree to refrain from adding needed capacity. Such behavior would be anti-competitive, hurting consumers but good for the pipeline operators and their owners. Scarcity of […]
America Questions Role As World’s Super-Cop
On Monday, President Trump asked, “Why are we protecting the shipping lanes for other countries (many years) for zero compensation?” Few American voters give much thought to the U.S. Navy’s role in ensuring safe passage for seaborne trade around the world. This interactive map, although seven years old, provides a fascinating picture of the volume […]