EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES AND INFLATION HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors..
Is Energy Becoming Less Cyclical?
It’s a question posed at every mid-cycle. Observers of commodity markets will often advise that the cure for low prices is low prices. Meagre profits reduce production, eventually curbing supply and driving prices higher. 2014 was the last cycle peak for energy. The shale revolution brought new US supplies of oil and gas onto the […]
Why Is Oil Still Cheap?
Investors often ask us why crude oil prices aren’t higher. The industry has maintained capex on new production too low to sustain current production for years, without any apparent impact on prices. More recently, the Middle East has generated a plethora of incidents which might be expected to cause consternation about the reliability of supplies […]
White House Adopts An Energy Policy Where Everyone Loses
With his moratorium on new LNG export terminals, aging President Joe Biden and his advisers have stumbled on a way to upset both ends of the political spectrum. Domestic energy businesses want to export more, cheap US natural gas to foreign buyers. Following Russia’s invasion of Ukraine two years ago the US pledged to replace […]
The Case For Real Assets
I began investing in midstream energy infrastructure almost two decades ago. When SL Advisors was founded in 2009 it was one of our core strategies. Over the years it’s become our principal focus. Infrastructure possesses enduring qualities for the long-term investor, and energy is just one segment of what’s often referred to as real assets. […]
To Lose On The Energy Transition Buy Utilities
Income-seeking investors often compare midstream energy infrastructure with utilities. Both own long-lived infrastructure assets dedicated to delivering energy to customers. Both tend to be regarded as yield-generating investments and are subject to considerable regulatory oversight on rate-setting. But the energy transition is impacting each sector very differently. Midstream growth capex peaked during the shale revolution […]