Blog
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.
Bullish News On Gas
Last week there were two pieces of news that confirmed the bullish long term outlook for natural gas. On Thursday the WSJ reported on the Behind The Meter (BTM) arrangements that are becoming common (see AI Data Centers, Desperate for Electricity, Are Building Their Own Power Plants). This is faster than connecting with the grid […]
Gassy Isn’t Happy
The last few weeks have been challenging for the bullish story on natural gas. On Thursday evening Venture Global (VG) disclosed that they’d lost an arbitration case with BP over their Calcasieu Pass LNG terminal. The International Chamber of Commerce (ICC) found that VG had breached its obligation to make a timely declaration of the […]
BP Navigates Politics With Its Outlook
BP recently published their 2025 Energy Outlook. When big oil producers make projections about consumption it becomes a political document. Climate extremists are quick to accuse companies of opposing the energy transition and consigning the world to ruinous warming. Yet capital commitments need to be based on rational expectations, not aspirational ones. Earlier this year […]
Getting Cheaper By Moving Sideways
The energy sector is leaving investors unimpressed. YTD the American Energy Independence Index (AEITR) is +5% and seems to be marking time. The S&P500, increasingly dominated by tech and AI exposure, is +13%. Long-time clients, having enjoyed several strong years, hope the better days will soon return. More recent investors demand to know what’s gone […]
Get Your Foreign Exposure In America
Investors are routinely advised to incorporate some international exposure into their portfolios. This can be to add diversification or, in the case of emerging markets, to participate in faster-growing economies. For a US-based investor, this is at best a waste of time. Worse, it can introduce unneeded complexity, cost and poor returns. By investing in […]