Stocks Look Past The Recession and Growing Debt
The Market Recovers With Energy
The U.S. Borrowing Pandemic
Pipeline Payouts Holding Up
Can An ETF Go Negative?
Texas Ponders Oil Cuts
The Texas Rail Road Commission (RRC) began their public hearings via Zoom on a request from some oil companies that they limit oil production (“proration”) to avoid unnecessary waste. On the surface, it seems a pretty straightforward question.
Pipeline Companies Trim New Projects
Spending on growth projects peaked in 2018, and lower growth capex combined with rising cashflow from existing assets were set to drive Free Cash Flow (FCF) higher.
Navigating the Collapsing Oil Market
Markets Glimpse Light
The Upside Case for Pipelines
With Energy Uncertainty, Natural Gas Offers Stability
Where America Gets its Power
Coronavirus Dominates Thoughts on Cheniere
Planting a Cooler Climate
Renewables, nuclear and natural gas are all part of the solution to climate change, along with adding billions of trees. Burning natural gas produces water and carbon dioxide, the two inputs trees need to grow.
U.S. Natural Gas Helps Lower Emissions Again
Crude Catches a Virus
Washington-DC Based Energy Experts Offer Their Outlook
We had an opportunity to meet with a Washington-DC based independent research firm, specializing in energy policy and geopolitics last week. The following is from our notes on their discussion.
Pipelines Slowly Returning Cash
The Coming Pipeline Cash Gusher remains the strongest bull case for midstream energy infrastructure. A trend towards returning more cash to investors is taking hold though.
Clean Fossil Fuels May Be Coming
NET Power has developed a natural gas power plant that produces electricity with no CO2 emissions. Conventional single-cycle power plants burn natural gas (or coal) to heat water which acts on a turbine to generate electricity. This produces CO2, and in the case of coal plants other noxious gases and polluting particles.
Its Iran’s Move
If one thing’s clear about recent developments in the Middle East, it’s that events defy prediction. Yet timing trades in the energy sector requires the seemingly impossible.
Williams Companies Promotes the Little Blue Flame
Tallgrass Investors Catch a Break
Yesterday Blackstone (BX) surprised Tallgrass Equity (TGE) investors by sweetening their offer for the shares they don’t own to match the price they originally paid in March. It marks a victory for Limited Partners in TGE, which retained its partnership structure even though it’s taxed at a corporation so as to avoid issuing K-1s.
Enlink’s Growth Plans Need Better Justification
Why Inflation Isn’t What You Think
The Federal Reserve has long wrestled with stubbornly low inflation. A decade ago few would have expected this to be a problem, but Personal Consumer Expenditure (PCE) inflation, the Fed’s preferred measure, is coming in at 1.8% this year. Federal Open Market Committee (FOMC) members have been considering allowing inflation to overshoot their target of “around 2%”.