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lobster's avatar

Love footnote 3 about energy density, such a good point

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John Galt's avatar

Thanks bud - it’s a concept many in favor of nuclear have made in the past. Also, thank you for making it all the way down, to the final footnote ;)

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Brandon's avatar

Hi, I am a new subscriber and am trying to catch-up. Have you written/mentioned anything about any offshore oil plays? Thanks!

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John Galt's avatar

Brandon! Thanks for subscribing and reaching out. I've not made any particular mention to offshore plays - I've not done any analysis in depth into any of the companies as some others have.

My preferred oil play remains big oil equities, you can check out a post called THE BOOK OF MUIR where I discuss these. It's been a great investment. In terms of broader energy play, I remain firmly in the uranium camp. I wrote a piece named ITS CALLED NUCULAR, which you can check out as well.

Best of luck, mate!

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Brandon's avatar

Perfect, thanks for getting back to me!

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Brant Hammer's avatar

As usual, great piece.

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John Galt's avatar

Thanks mate, hope you had a great holiday break and start of the year!

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Paul E's avatar

I think you're right about victory laps but there's nothing wrong with cheering when you've scored some points in the game! So you're currently enjoying the European ski season. The land of milk and money...and enough energy to stay warm! Have fun!

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John Galt's avatar

Thanks, Paul!

Snowfall has been recently picking up, so the season is looking better and better.

Hope markets keep up their current trends ;)

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Niall's avatar

Great write up, thanks John. How do you see a re-emergence of the Euro energy Criss or winter 2023 and the market repricing no FED rate cuts for 2023 impacting USD.EUR?

I see some prominent Fintwit accounts expecting US bond yields to go up(you also) and USD to strengthen against the Euro.

You are leaning long Euro, so would be very interested to get you take?

Thanks

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John Galt's avatar

I see Europe getting prepared better come this year (i.e., floating terminals, increased flows from NA, Qatar, US, etc.). Shouldn't be difficult.

I think by the time the market realizes about the no-cut situation the repricing will also happen in EU.

Temporary EUR weakness is possible / even likely, as US bonds seem overextended and EUR has already massively outperformed. I don't trade EURUSD with a short term view, however.

I position medium-long term, where I see it going over 1.15.

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John Galt's avatar

Also, thanks for reading so attentively Niall. Great questions!

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