Global energy markets may be facing deeper structural supply constraints than current pricing suggests.

In this podcast discussion with Peak Prosperity, Adam Rozenwajg, CFA, Managing Partner of Goehring and Rozencwajg, joins host Chris Martenson, to discuss the growing disconnect between energy market fundamentals and investor sentiment. From shale depletion and slowing Permian growth to inventory dynamics, underinvestment, and the long-term outlook for oil and natural gas, the conversation explores why today’s market conditions could have significant implications for commodities in the years ahead.

The discussion also examines why current energy risks may be structural rather than temporary — and why markets may not yet be fully pricing them in.

Please click the image below to access the full recap, listen to the episode, or read the transcript. 

This interview was recorded on May 6, 2026.

Want to learn more from Goehring & Rozencwajg?  We invite you to download or revisit our entire Q4 2025 investor research letter, which is available below.   

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