America’s midstream energy infrastructure, the pipelines that move U.S. energy supplies to market is crucial as we strive for American Energy Independence.

Modern Monetary Theory Goes Mainstream

Modern Monetary Theory (MMT) argues that because a government can never go bankrupt in its own currency, the only constraint on spending is inflation. Applied to the U.S., this justifies pandemic stimulus checks, spending on infrastructure and clean energy initiatives, expanded Obamacare and doubtless other initiatives too. Price tabs begin at $1TN nowadays. Stephanie Kelton’s […]

Using More Energy, Everywhere

Last week the U.S. Energy Information Administration (EIA) released their 2021 Annual Energy Outlook (AEO). It is produced by their Bipartisan Policy Center, and presidential elections aren’t supposed to affect their work. It isn’t a policy document but is intended to make forecasts based on current policies and known technology. Past AEOs are taken down […]

GameStop Overhauls The Hedge Fund Business

The impact of GameStop (GME) will resonate far beyond a few short-selling hedge funds. It’s a rare breed of manager that runs exclusively or mostly short positions. Behind the forensic financial analysis that’s required lies a deep skepticism of company executives. They see a dark side to human behavior lurking out of sight to most […]

Asia Leads Natural Gas Demand

Last week John Kerry, Climate Czar, warned that natural gas pipeline assets could become “stranded assets” within 30 years. Democrat attitudes toward fossil fuels remind one of St. Augustine (“Lord, make me chaste—but not yet.”). Three decades of debauchery before celibacy shows self-discipline, under the circumstances. Since Biden now owns U.S. climate change policy, indulging […]

Williams Companies Sees A Climate Change Winner In Natural Gas

Last week Williams Companies (WMB) held their first ever ESG Event. As might be expected, the most interesting parts were on the “E” (Environmental). It’s hard to find much original to say on Social issues, and Governance should simply mean following industry best practice. WMB is in a position to be a big winner from […]