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.
Of Red Crypto And Black Pipelines
Bitcoin could be poised for another ascent. Bulls will be encouraged that Jim Cramer advised holders to sell following the collapse of FTX. Few readers would have been surprised when this blog first expressed crypto-skepticism in December 2017. Its return since then is 1.7% pa, substantially behind the market and, naturally, midstream energy infrastructure. But […]
Energy Pragmatism Is Beating Extremism
As the world’s leaders meet in Egypt at the COP27 climate change conference, there are reasons for optimism among those who yearn for a pragmatic approach to reducing global Green House Gas emissions (GHGs). The Economist magazine front covers over the past couple of years provide an evolving perspective from one publication that likes to […]
Pipeline Earnings Continue Positive Trend
Recent 3Q22 earnings reports for pipeline companies have been confirming the predictable nature of their business models. Dividend hikes have been common. Growth capex generally remains cautious. Cheniere’s $2.8BN in EBITDA was close to consensus, and they reaffirmed their full year 2022 guidance of $11.25BN having revised it higher three times this year. They paid […]
Wage Rises Complicate The Inflation Outlook
Fed chair Jay Powell and the American worker do not have an alignment of interests. In his remarks, following another 0.75% rate hike, Powell said the FOMC is, “acutely aware that high inflation imposes significant hardship as it erodes purchasing power, especially for those least able to meet the higher costs of essentials like food, […]
Massachusetts Needs More Windmills
New England’s largest utility, Eversource, is worried about a looming shortage of natural gas. CEO Joseph Nolan has publicly asked the White House to make plans for emergency supplies in the event of a severe cold spell this winter. North America has abundant supplies and export volumes will grow. Europe is gearing up to increase […]