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.
Just In Time Oil
Changes in US oil inventories sometimes cause a sharp move in the price of crude. It makes perfect sense, even if it’s hard to tease out much of a statistical relationship from the data. Oil stocks, meaning oil held in inventory, have been falling since the early days of the pandemic when the collapse in […]
Will Fall Seasonals Cause The Market To Rise?
Students of stock market history will know that September is seasonally the worst month of the year. This month is typical. Some may think it’s October because of the crashes that month in 1929 and 1987. Only a few years into my Wall Street career, I returned home on October 19th, 1987, and solemnly warned […]
The Super Cycle Or Peak Oil?
In March of 2020 when crude oil was collapsing dragging energy stocks, including pipelines, along, I tried to focus on the positive, which was that it had become cheaper to drive places. Except there was nowhere to go because of the lockdown. And even if there had been, I would have had to make roughly […]
Offshore Wind vs Onshore
A couple of weeks ago in Windpower Faces a Tempest, we highlighted the challenges facing offshore wind both in the US and Europe. A good friend of mine, a lawyer who has made his career doing energy deals, took issue with the blog post. A spirited text message interaction ensued, continued in person over two […]
Crude Climbs The Wall Of Supply Worries
Crude oil has rallied recently, in a much delayed reaction to numerous analyst forecasts that have been bullish all year. A couple of months ago Goldman’s commodities head Jeff Currie, who is leaving the bank, cut his year-end forecast for Brent crude from $95 per barrel to $86 while maintaining his long term bullish outlook. […]