Global Energy – Drivers and Disruptors

In this episode Gerald Ashley is joined by Nicholas Rogers, an equity analyst at Equitile.

They take a look at the three major energy markets of oil, natural gas and coal, which together supply up to 90% of global energy.

They discuss the current stability of oil prices despite Middle East tensions, with softening Western demand but strong Asian growth, and the importance particularly of China’s strategic oil reserves via the “Beijing put.”  And is Offshore oil’s cost-effectiveness challenging peak oil theories?

Natural gas, at 23% of global energy usage, is a key bridge fuel, with US exports reshaping European energy security post-Russia-Ukraine conflict. Asia is driving a projected 60% demand increase by 2040. A bright future for Natural Gas?

Coal, at 26% of global energy, remains critical, especially in China’s new power stations and for industrial uses, despite Western phase-outs.

The episode highlights the global economy’s reliance on fossil fuels and the priority of energy security.

About Nicholas Rogers

Nicholas Rogers is an Equity Analyst and Investment Committee member at Equitile Investments, joining in 2024. With close to a decade of experience in wealth and asset management, he previously worked at several bulge bracket banks, including HSBC and Citi in Sydney, Australia. His interests lie in the commodity markets and identifying broader macroeconomic trends. 

This episodes book recommendations

Gerald
Kings of Shanghai by Jonathan Kaufman


Nicholas
The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources by Javier Blas and Jack Farchy