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.
US Leads Natural Gas Demand And Supply
It’s clear that natural gas demand is heading higher over the next few years. It’s less certain that this will push prices higher. New LNG export terminals are going to double our volumes sent overseas over the next five years. The widely criticized pause on LNG permits that President Biden imposed last January only applied […]
Lemming Leadership
Sometimes this blogger stumbles across a phrase that begs to be used as the title for a blog post. Who better to be the subject of this one than the far-left climate extremists whose policies have led to higher energy prices, deindustrialization and job losses. Start with Germany. Ryanair’s CEO Michael O’Leary recently described Germany […]
The 21st Century Fuel: Natural Gas
In recent years as extreme views on climate have become increasingly fringe, no hydrocarbon has enjoyed more of a reassessment than natural gas. Enbridge CEO Greg Ebel talks about the “energy evolution” rather than a transition. The US is adding over 140 new gas power plants this year as demand from data centers builds. Accommodating […]
November Was A Great Year
Like millions of families across America, on Thanksgiving we gave thanks for being with friends and family, along with “…sunny days and that we’re all together.” I added a silent appreciation that left-wing climate extremists were resoundingly defeated on November 5th. The market’s realization that the election had ushered in sensible, pro-American energy policies took […]
Midstream’s Goldilocks Phase
The word of the week is re-rating. Both Wells Fargo and Morgan Stanley have suggested that, notwithstanding this year’s 50%+ return in midstream energy infrastructure, further upside is possible. They posit that a re-rating of the sector would not be unreasonable given the strong fundamentals. Enterprise Value/EBITDA (EV/EBITDA) is a widely used valuation metric, although […]