Eric Nuttal (Buffett of energy) is BULLISH on OIL/ENERGY !!!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