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  • Roger S. Conrad

Elliott Gue knows energy. Since earning his bachelor’s and master’s degrees from the University of London, Elliott has dedicated himself to learning the ins and outs of this dynamic sector, scouring trade magazines, attending industry conferences, touring facilities and meeting with management teams.

Elliott Gue’s knowledge of the energy sector and prescient investment calls prompted the official program of the 2008 G-8 Summit in Tokyo to call him “the world’s leading energy strategist.”

He has also appeared on CNBC and Bloomberg TV and has been quoted in a number of major publications, including Barron’s, Forbes and the Washington Post. Elliott Gue’s expertise and track record of success have also made him a sought-after speaker at MoneyShows and events hosted by the Association of Individual Investors.

Elliott Gue also contributed chapters on developments in global energy markets to two books published by the FT Press, The Silk Road to Riches: How You Can Profit by Investing in Asia’s Newfound Prosperity and Rise of the State: Profitable Investing and Geopolitics in the 21st Century.

Prior to founding the Capitalist Times, Elliott Gue shared his expertise and stock-picking abilities with individual investors in two highly regarded research publications, MLP Profits and The Energy Strategist, as well as long-running financial advisory Personal Finance.

In October 2012, Elliott Gue launched the Energy & Income Advisor, a semimonthly online newsletter that’s dedicated to uncovering the most profitable opportunities in the energy sector, from growth stocks to high-yielding utilities, royalty trusts and master limited partnerships.

The masthead may have changed, but subscribers can expect Elliott Gue to deliver the same high-quality analysis and rational assessment of investment opportunities in the energy patch.

Articles

Energy Strategy Roundtable

Talking Point #1: What’s the risk of recession and a demand led collapse in oil prices over the next 12 months?

EG: I continue to believe fears of recession are overblown in the US. In fact, I’m seeing some tentative signs the US economy is stabilizing and we may see some improvement in data over the next few months.

Sector Fear Takes a Breather, Quality Still Key

The fear factor appears to have lessened a bit since our previous Energy and Income Advisor issue. But with all eyes still on the global economy, these still aren’t especially good times for energy stocks, many of which are pricing in a big future drop in oil.

The Alerian MLP Infrastructure Index, for example, is lower by more than 10 percent in barely a month. That’s despite the generally robust second quarter results of most index components, as well as multiple dividend increases.

For readers interested in betting on a rebound through mutual funds or ETFs, we suggest taking a look at closed-end funds like Kayne Anderson MLP Midstream (NYSE: KYN). Not only are its top holdings arguably over-discounted to otherwise solid prospects but it trades at a discount to net asset value of more than 10 percent. That’s double leverage to a recovery in MLPs, though there’s risk as well: The fund cut its monthly payout by 20 percent at the start of 2019.

Energy Outlook Post Q2 Earnings

Talking Point #1: How much should we worry about the possibility of stalling or even falling production growth in North America for producers, drillers, midstream and downstream companies we own?

EG: Ironically, I think falling US production would be a huge positive for most of the upstream (producers) and services companies we recommend.

Services: International Growth, Shale Changes

The rapid growth in US shale fields like the Permian Basin has dramatically altered the outlook for global oil supply and demand.

It’s also forever changed the industry’s competitive landscape at all levels including upstream (producers), downstream (refiners) and midstream (pipelines and storage).

However, arguably the industry to see the largest impact is oilfield services – these companies are in the business of supplying mission-critical services and equipment to global oil producers related to the exploration and development of oilfields.

Some five years ago, we warned that these changes would not be kind to erstwhile high-flyers like deepwater driller Seadrill and sand miner Hi-Crush Partners.

However, the selling pressure has extended far beyond these shaky names to include some of the industry’s largest and most enduring franchises. In this issue we take a closer look at some of the trends and changes underway in the global oil industry and how to play it.

Values and Value Traps in Canada and Australia

Q: Oil and gas prices in Canada remain deeply depressed relative to US prices. What’s the timetable on closing that gap? How critical is that to the prospects of Canadian oil and gas companies?

A: Discounted Canadian prices for oil and natural gas are generally the result of insufficient takeaway capacity, which is most effectively dealt with by building new pipeline capacity.

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  • Live Chat with

    Elliott and Roger on Aug. 27, 2019

  • Portfolios & Ratings

    • Model Portfolios

      Balanced portfolios of energy stocks for aggressive and conservative investors.

    • Producers and Drillers

      Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.

    • MLPs and Midstream

      Our assessment of every energy-related master limited partnership.

    • International Coverage

      Roger Conrad’s coverage of more than 70 dividend-paying energy names.

    Experts

    • Elliott H. Gue

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Roger S. Conrad

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor