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.
Incoherent Energy Policies
Recently Chevron’s CEO Mike Wirth gave an interview in the Financial Times where he explained why blame for the current energy crunch lies squarely with western governments and the poorly conceived policies they have followed. To varying degrees they have assumed a painless pivot away from fossil fuels before alternative sources are ready. Germany and […]
The Losers From Quantitative Easing
UK Prime Minister (PM) Liz Truss has reached “in office but not in power” in record time. On September 6th she met with Queen Elizabeth II and formally became PM. Two days later the Queen died, commencing a period of mourning that ended with the monarch’s funeral on September 19th. Practically speaking, that’s when Liz […]
Energy’s Asynchronous Marriage
The relationship between crude oil prices and pipeline stocks is a perennial subject – why do the toll-like features of midstream energy infrastructure sometimes fail to separate the sector from the vicissitudes of commodity markets? The truth is they move together more at certain times than others. The 2015 drop in crude caused by excessive […]
OPEC+ Strikes Back
Recently Shell’s CEO commented that China had added more coal production capacity during the third quarter than Shell’s entire global energy production. It is a response to high prices. We don’t often write about coal because we’re not invested in it. Prices have more than doubled over the past year, although were lower in September […]
What’s Next For Tellurian?
Tellurian (TELL) CEO Charif Souki is one of the more colorful executives in the energy sector. In his book The Frackers, WSJ journalist Gregory Zuckerman memorably chronicles his career from a “shaggy-haired Lebanese immigrant” who spent seven years in Aspen where he “skied and bummed around” to founding Cheniere, today’s leading exporter of US Liquefied […]