AIA Newsletter February 2025
Commentary
In this month’s commentary, I will discuss some of the areas I am interested in for 2025.
Energy
I am still bullish on energy. However, it has become apparent that the period of delusion related to ESG and net zero has passed, at least in the US. As the zeitgeist has changed, investors are withdrawing from ESG funds.
With President Trump's re-election, the focus will return to a more rational energy policy. This means more access to and development of fossil fuels and a significant push into nuclear energy. I remain bullish on uranium.
Concerning oil, I believe that the world has simply not been doing a good job of replacing produced reserves.
