What is happening in the energy markets? Why is there an underinvestment in energy over the past decade? What is the risk of price fluctuations? What does this mean for prices?

Adam Rozencwajg, CFA, Managing Partner at Goehring & Rozencwajg, joined Anthony Fatseas, the host of the WTFinance podcast to discuss all of these questions and much more. 

We invite you to listen to this very informative interview: Energy Underinvestment to Induce "Decade of Shortages". 

Interview recorded on October 27, 2023

0:00 - Introduction
1:00 - What is Adam currently seeing in energy markets?
5:25 - CAPEX or Geopolitical issue in energy investment?
9:58 - Would embargo impact the US?
12:00 - Are the energy markets tight?
13:35 - Odds of an energy embargo?
16:53 - What happens with less buffer in energy markets?
17:45 - Key drivers of energy demand?
18:37 - What is happening in the gas markets?
22:10 - US upstream equities?
23:30 - Investment thesis behind uranium?
27:25 - Any mines scheduled to come online in near-term?
27:55 - Other commodities Adam is watching?
29:08 - One message to takeaway from conversation?  

Want to learn more from Goehring & Rozencwajg?  We invite you to download or revisit our entire Q2 2023 investor research letter, available below.   

Registration with the SEC should not be construed as an endorsement or an indicator of investment skill, acumen or experience. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Historical performance is not indicative of any specific investment or future results. Investment process, strategies, philosophies, portfolio composition and allocations, security selection criteria and other parameters are current as of the date indicated and are subject to change without prior notice. This communication is distributed for informational purposes, and it is not to be construed as an offer, solicitation, recommendation, or endorsement of any particular security, products, or services. Nothing in this communication is intended to be or should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. This communication may include opinions and forward-looking statements. All statements other than statements of historical fact are opinions and/or forward-looking statements (including words such as “believe,” “estimate,” “anticipate,” “may,” “will,” “should,” and “expect”). Although we believe that the beliefs and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such beliefs and expectations will prove to be correct. Various factors could cause actual results or performance to differ materially from those discussed in such forward-looking statements. All expressions of opinion are subject to change. You are cautioned not to place undue reliance on these forward-looking statements. Any dated information is published as of its date only. Dated and forward-looking statements speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any dated or forward-looking statements. Any references to outside data, opinions or content are listed for informational purposes only and have not been independently verified for accuracy by the Adviser. Third-party views, opinions or forecasts do not necessarily reflect those of the Adviser or its employees. Unless stated otherwise, any mention of specific securities or investments is for illustrative purposes only. Adviser’s clients may or may not hold the securities discussed in their portfolios. Adviser makes no representations that any of the securities discussed have been or will be profitable. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio.