the expediency of immediate necessity over even the dreams a few years out. Humanity overestimates that productivity growth has not increased much more than 2-3% a year despite advances. That means a doubling every 30-35 years. That is far too slow for a single human lifetime to malinvest in essentials such as fossil fuels yet.
The world is quickly becoming less "energy blind" thanks to Putin. I share the authors' opinion that ESG politics have left the world in a short energy position. All it takes is marginal demand exceeding supply consistently over a relatively short time to launch energy prices dramatically higher. Other investors are arriving at the same conclusions. See here for some other compelling research into oil demand/supply analysis: https://tinyurl.com/bx97ab95. Haymaker series has been fantastic! Great gift from David.
Thats so much for sharing. I believe one thing could be useful here. Readers of your stack are probably energy bulls generally speaking. Maybe an article or interview for something test the thesis would be worthwhile. Just something to think about. Keep up the good work, thanks.
Charles and Louis have more sense than dollars, (unlike our 'leaders' who have more dollars than sense), and for them, that's saying a lot! The path we are on is one of the most glaring examples of drilling another hole in the boat to let the water out.
The only sector I have confidence in is oil / energy. Inelastic supply & demand...a necessity. Big dividends, an inflation hedge and a dollar hedge (just wait until the dollar fall). And MLP's are the cheapest asset class with probably the highest 10yr. return potential. Not to mention that many have PPI price increases built into their contracts. As you say "Buy the dip" Thank you for all the great articles & information.
the expediency of immediate necessity over even the dreams a few years out. Humanity overestimates that productivity growth has not increased much more than 2-3% a year despite advances. That means a doubling every 30-35 years. That is far too slow for a single human lifetime to malinvest in essentials such as fossil fuels yet.
The world is quickly becoming less "energy blind" thanks to Putin. I share the authors' opinion that ESG politics have left the world in a short energy position. All it takes is marginal demand exceeding supply consistently over a relatively short time to launch energy prices dramatically higher. Other investors are arriving at the same conclusions. See here for some other compelling research into oil demand/supply analysis: https://tinyurl.com/bx97ab95. Haymaker series has been fantastic! Great gift from David.
Great perspective. Thanks!
Thats so much for sharing. I believe one thing could be useful here. Readers of your stack are probably energy bulls generally speaking. Maybe an article or interview for something test the thesis would be worthwhile. Just something to think about. Keep up the good work, thanks.
Articles always entertaining. Well done.
Could not access the webinar. Is there a transcript available? Timely info.
Video, not transcript, but here you go... https://research.gavekal.com/content/webinar-investing-in-the-age-of-weaponization
Thanks David,your information in these trying time is much appreciated.
Here in New Zealand the govt has bought our free press with a $55 million bribe which now continues to stiffle all commentary contrary to their views.
Cheers Morrie
Compelling view…me like
Many many thanks for your thoughtful and pragmatic articles. Also very much enjoyed the webinar yesterday.
Thank you for this and the great webinar
Yes oil is running. So is inflation. Gold is more volatile than oil. The money supply is more goofed up that oil supplies.
Always a great read.
Good job David!
Charles and Louis have more sense than dollars, (unlike our 'leaders' who have more dollars than sense), and for them, that's saying a lot! The path we are on is one of the most glaring examples of drilling another hole in the boat to let the water out.
The only sector I have confidence in is oil / energy. Inelastic supply & demand...a necessity. Big dividends, an inflation hedge and a dollar hedge (just wait until the dollar fall). And MLP's are the cheapest asset class with probably the highest 10yr. return potential. Not to mention that many have PPI price increases built into their contracts. As you say "Buy the dip" Thank you for all the great articles & information.
You ain't seen nothing yet...
Good take on the energy markets