RE:Eric Nuttal (Buffett of energy) is BULLISH on OIL/ENERGY !!!Nuttall needs to promote his gig. Can't blame him, the more minions he books the more 2% he makes on volume. Where in his sermons is the basic reality that nobody wants to touch oil and gas ? It's like what is going to happen with classic cars when all the baby boomers die. You'll have a 1970 Barracuda that you bought at the Barrett Jackson auction for $ 300,000 USD and a millenial or earlier generation won't give you $ 10 K for it because to them it's just an old used car . Frustrating , yes. Will oil and gas be desireable again ? I hope I'm wrong but its never going to be what it was in previous booms. Let's just hope the government is still in charge of the electric transition because everything they touch turns to sh*t . This will be good for oil and gas for decades. I just thought the other day of what I'm paying my CDN government for . A health system in complete disarray. A CPP " pension plan" that will allow you to sleep on a heated grate on Yonge street and eat from garbage bins if you rely on it.
slickk wrote: Eric of Ninepoint Capital presented to over 1000 financial advisors on webcast Jan 19 2023.
Here's why his thesis of 6-10 year multi year bull market is here...especially after meeting energy ministers in Saudi Arabia and Qatar in Jan 2023
- SUPPLY CANNOT KEEP UP WITH DEMAND
- oil demand is growing by 1 million barrels per day
- stocks trade today as if oil is $55/barrel
- recession has already been priced into stocks so going uo from here
- de carbonization will not go away
- largest SPR release in history of 260 mm barrels
- China re-opening is going to fuel oil consumption big time
- companies are buying back shares and increasing dividends big time...little to no $$ left for CAP EX
- some companies will be debt free with huge piles of free cashflow in 1-2 years
- any new CAP EX will take 3-5 years to see meaningfull build up of crude
- demad destruction will not occur until oil hits $140-$180/barrel and stay at those prices for awhile
- people worldwide spending alot on travel and leisure...flying and driving will futher fuel energy demand
- nobody will buy Russian oil for awhile...no matter outcome of war
As Eric says...a generational play of a LIFETIME IS HERE...cheers