We are the frog that has now at least become aware that the water is getting a lot warmer. It remains to be seen whether we have the wherewithal to make the necessary changes and commitments as a species to head off the worst effects of global warming. The IPCC Working Group I released the[…]
Reading a handful of things over the weekend led me to a couple of thoughts for today’s note. A common refrain is “Renewables are just virtue signaling. They’re not economic without subsidy.” Actually, there’s a reason that the vast majority of 2020 new capacity build was expected to be renewables – ~78% to be more[…]
This AM, WTI traded to $11.36/bbl for May delivery. I couldn’t find a trade in recent decades at that level. Turns out it’s a 21-year low. Now, while this dislocation is at least partially temporary, many investors believe that oil will return to $50/bbl and this is a unique time to buy oil assets cheaply. […]
A lot of discussions with investors since #COVID19 took the globe by storm a couple of months ago have revolved around the energy landscape in light of our current situation and what a post-COVID world might look like. Many of them are looking at shale producers and thinking that the vast majority of the E&P[…]
The list is long and getting longer by the day – investment and asset managers around the world are waking up to the biggest opportunity in the next decade – sustainable investments. We’re not surprised by this; in fact, it’s a welcome shift in the press coverage of the thesis. While we’re cautiously optimistic, this isn’t to be viewed as a successful campaign in aligning assets with the goals of sustainability, but rather merely the end of the opening exchange as we move into the mid-game.
I built SOIL Funds Management to focus on sustainable private equity. But what does that mean? On the front-end, we target businesses that we believe generate a sustainable competitive advantage by using a series of financial and non-financial screens. Like Farmers Insurance, we know a thing or two because we’ve seen a thing or two. Typical financial[…]