Energy

A collection of 83 posts

Paid-members only

Energy Featured

America's Coal Plants Keep Missing Their Own Funerals

Three straight PJM capacity auctions cleared at the legal price cap, coal retirements just hit an 18-year low, and Washington is ordering dying plants to stay open. The trade isn't coal prices — it's who owns the fleet that refuses to die.

Paid-members only

Geopolitics Featured

How Congress Turned Russia Sanctions Into a Tariff Weapon

The Senate passed the most sweeping Russia sanctions bill of the war the same month India's Russian crude imports hit a record and the Urals discount collapsed to $2. The price cap is dead — what replaced it is a tariff weapon aimed at Russia's customers.

Paid-members only

AI Featured

Texas Is Auditing the AI Boom

Texas just froze 474 gigawatts of data-center grid requests — five times its record peak — pending a project-by-project audit. It is the first forced disclosure of how much AI power demand actually exists, and the power trade is priced off the unaudited number.

Members only

Markets Featured

10 Stocks Worth Watching This Week: The Inflation Test After the Jobs Shock — August 10–14, 2026

A shock jobs contraction handed markets their best week since April — now Wednesday's CPI decides whether the September rate-cut trade survives. Ten names positioned around the week's catalysts.

Paid-members only

Energy Featured

What Does a Pension Fund Want With a Fusion Reactor?

Commonwealth Fusion's latest $1 billion came from pension funds, sovereign wealth, and infrastructure investors — the most conservative money in finance. The fusion race is no longer about physics. It's about who gets paid building the machine.

Paid-members only

Geopolitics Featured

Who Defends Saudi Arabia Now?

An attack on one is now an attack on all: Saudi Arabia, Turkey, and Pakistan just built the first formal alternative to the American security umbrella in the Gulf. The repricing runs through arms flows, tanker rates, and the dollar.

Energy Featured

Why Is Washington Paying Companies Not to Build Power Plants?

The federal government has now spent nearly $4 billion buying back offshore wind leases — erasing roughly ten gigawatts of planned power from America's tightest electricity markets while the money is redirected into gas. Who pays, and who collects.

Paid-members only

Markets Featured

Silver Is Front-Running a Rate Cut the Fed Says Isn't Coming

Gold set the record, but silver is the trade. After a hawkish Fed hold and a run of soft data, the precious complex is front-running an easing cycle nobody on the committee will admit is coming — and the gold/silver ratio at 68 is the coiled spring.

Paid-members only

Markets Featured

Eos Energy (EOSE) Called Q2 a Record. $55.0 Million of the $68.8 Million Was Related-Party Revenue, and Third-Party Sales Fell 76% From Q1.

The revenue number was three weeks old. The composition was not: $55.0 million of the $68.8 million came from a Cerberus-financed project, and third-party revenue fell from $56.9 million in Q1 to $13.7 million in Q2.

Paid-members only

Energy Featured

What Good Is More Crude If Nobody Can Refine It?

OPEC+ just approved its last production hike of the year. It won't lower fuel prices — the world isn't short of crude, it's short of refineries. Inside the 4.5-million-barrel hole in global fuel supply, and who collects the spread.

Paid-members only

Energy Featured

Why America's Biggest Grid Wants AI to Bring Its Own Power

PJM came up 6.8 gigawatts short and hit its price cap for the second straight year. Now its board wants new data centers to bring their own power — or accept being unplugged first. The AI buildout's binding constraint just changed.

Members only

Infrastructure Featured

Why Germany's Industrial Engine Runs on 25 Centimeters of Water

The Rhine is about to break its all-time low-water record — in July, not October. Barge rates have tripled, BASF is warning of force majeure days after raising guidance, and Europe's industrial heartland is discovering its river no longer has a backstop.

Paid-members only

Energy Featured

The World's Widest Energy Arbitrage Is Stuck in Texas

The war deleted 20% of global LNG supply and sent world gas prices to six times the US benchmark — yet American gas keeps getting cheaper. The bottleneck holding the spread apart is the trade, and the EIA has already published the date it breaks.

Members only

Markets Featured

10 Stocks Worth Watching This Week: AI Capex on Trial and $100 Oil — July 27–31, 2026

Three central banks, four mega-cap earnings prints, and Brent above $100 — this week decides whether the AI trade stabilizes or the selloff deepens. Ten names positioned for what comes next.

Paid-members only

Finance Featured

Bloom Energy (BE) Reports Tuesday. To Reach Even the Low End of Guidance, It Has to Beat Its Best Quarter Ever, Three Times Running.

Bloom Energy fell 14.9% on Friday and sits 47% below its high, yet still trades near 15 times revenue at a company that has never closed a profitable year. Tuesday's print is not really about the quarter. It is about the arithmetic of the back half.

Members only

Energy Featured

Did Europe Just Give Up on Carbon Pricing?

Brussels just slowed its own carbon market and widened the carbon tax at its border. The headlines say climate retreat. The money says the cost of carbon is moving from European factories to everyone who sells into them.

Members only

Markets Featured

10 Stocks Worth Watching This Week: The AI Unwind Meets an Earnings Gauntlet — July 20–24, 2026

Semiconductors just shed over $1 trillion on the Kimi K3 shock, oil is back near $90 on the US–Iran war, and Alphabet, Tesla, and Intel all report within 48 hours. The 10 names that matter this week.

Paid-members only

Markets Featured

Nobody Told the Central Banks Gold Was Correcting

Gold has fallen 28% from its January high and retail is calling the top. The buyers who set the floor — central banks — are accumulating at record intent. The correction is an entry, not an exit.

Members only

Markets Featured

10 Stocks Worth Watching This Week: Bank Earnings Meet the Hormuz Premium — July 13–17, 2026

Q2 earnings season opens with the big banks, June CPI lands Tuesday, and renewed US–Iran hostilities have put a war premium back into oil. The 10 names positioned around this week's catalysts.

Paid-members only

Geopolitics Featured

America Kept the Strait of Hormuz Open for Free. Trump Just Sent the Bill.

Trump says America will keep the Strait of Hormuz — and get paid for guarding it. Forty years of free chokepoint security just became a business. The bill lands on Asia, and the unwind lands on the most crowded trade in shipping.

Energy Featured

Why America's Frackers Are Now Drilling for Electricity

Fervo just borrowed $421 million against holes in the ground and Quaise raised $134 million to drill with microwaves. The AI power trade already repriced nuclear — enhanced geothermal is the baseload asset class Wall Street hasn't found yet.

Paid-members only

Energy Featured

How a Myanmar Militia Ended Up Pricing the AI Boom

Tin is holding near record highs even as LME warehouses quietly refill. The reason: AI servers use three times the solder — and the supply map runs through a sanctioned militia, a Congolese conflict zone, and Jakarta's next export ban.

Members only

Markets Featured

10 Stocks Worth Watching This Week: NATO's Ankara Summit and the Fed's Paper Trail — July 6–10, 2026

A holiday-shortened week with an outsized signal load: NATO leaders convene in Ankara, the Fed releases its June minutes, and Q2 earnings quietly open. Ten names positioned for what actually moves.

Paid-members only

Energy Featured

Why Lithium's Comeback Isn't About Electric Cars

Lithium is up more than 80% this year and just shrugged off the return of China's biggest suspended mine. The reason: the marginal buyer is no longer a car company — it's the grid, and the grid doesn't check the sticker price.

Macro Featured

How Much Does a Heat Wave Cost?

The US government just ordered data centers to yield the grid to air conditioners. Extreme heat is now a $100 billion-a-year macro force — and markets still price it like a long weekend.