European natural gas prices have fallen massively from 2022 levels, so why is German manufacturing doing so badly?
Because - even with all the declines since 2022 - naturalgas prices are over 60% ABOVE their historical averages. That's a huge adverse energy shock hitting Europe. Source: Robin Brooks
Did you know that Brazil has been leading Latin America in solar panel purchases? 🤔
Source: Markets & Mayhem
Natural Gas is now up 54% since the December 13th low and has traded green in 8 of the last 9 days.
Source: www.zerohedge.com, Bloomberg
URANIUM GOING PARABOLIC as prices surges above 100 for the first time since 2007 and reaches its most overbought level in history...
Source: Barchart
While renewables energy have been a bug disappointment for investors over the last few years, long-term forecasts for offshore wind capacity remain quite attractive.
Growth still remains strong at 22% CAGR until 2030, 11% CAGR between 2030 and 2040 and 5% CAGR between 2040 and 2050. In the next 12 months, more than 80GW of auctions will be started or concluded globally. Source: Bernstein, TME
ENERGY STOCKS SINCE 1926 (relative to S&P)
Source: BofA, The Daily Shot
Global Energy Shock Graph (only till 2020 unfortunately) Life without fossil fuels is not for tomorrow
Source: Willem Middelkoop
It has been our thesis for a while that a big uranium SHORTAGE is coming in this decade
Uranium miners are likely to benefit from this trend and have been enjoying a strong run up over the last few months. Yet uranium miners ($URA $etf) have been diverging from Uranium spot price recently. One fundamental explanation for this is that the Uranium "large caps" which are over-represented in the URA ETF have long-term contracts which means there are not benefiting to a full extent from recent Uranium spot price. Source chart: Game of trades
