Last week’s “Behind the Markets” podcast focused on opportunities and risks in the U.S. energy infrastructure space, with two great guests: Simon Lack of SL Advisors and Bill Stone, Chief Investment Officer at Stone Investment Partners.
In this conversation we touched on:
- The disconnect between U.S. energy infrastructure fundamentals, what we have accomplished in the U.S. and the sector’s performance; that is to say, how the U.S. is already an exporter of natural gas and can become the world’s largest producer of oil by the end of 2019, yet how many energy infrastructure indexes are down over one-third of their value over the last four to five years
- How the U.S. capitalist model overcame OPEC trying to put the U.S. shale producers out of business
- The different index approaches for capturing U.S. energy infrastructure
- How a number of energy infrastructure companies that are focused on income investors burned their legacy shareholders by cutting current distributions and how the management teams running these companies now face the difficult task of recruiting a new generation of investors with different goals
- How changing tax incentives are encouraging different operating structures, and the impact this may have on the industry
The conversation was rich in insights on a very important sector of the U.S. economy. Listen to the full conversation below.