Leigh R. Goehring & Adam A. Rozencwajg
The 2010s were unique for two reasons: the lower cost of capital in human history and a 90% peak-to-trough fall in energy cost.
Many investors understand how cheap capital leads to malinvestment, but cheap energy has the same impact.
How? Cheap energy encouraged the rollout of energy-hungry renewables.
Read on to see why 2022 will be the year everyone finally understands the limitations of wind and solar.
Our newest commentary, The Distortions of Cheap Energy, looks at how low oil and gas prices have obscured the terrible energy efficiency of many “green transition” technologies.
Download our Q4 2021 commentary for insight into: