Bullish On Oil & Gas Supply Fundamentals

"There are lingering inflation anxieties as a result of the CPI remaining 2 to 3 times the official target, which favors hard assets over financial assets. Letting inflation run hot is a means of controlling the negative effects of too much debt. Under investment in the energy sector for the past decade insures a degree of supply constraints going forward, so the downside risks have to managed as they relate to exogenous demand destruction. OPEC+ is driving headlines and short term trends. We anticipate energy assets will be doubled or tripled in our portfolios as a target exposure by the end of 2023," says David McAlvany,