Odd Lots How to Make Money From the Booming Demand for Energy
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Jan 15, 2026 
Tyler Rosenlicht, Senior Vice President and portfolio manager at Cohen & Steers, delves into the booming energy demand and infrastructure investing. He discusses the shifting landscape of energy priorities, including the importance of nuclear energy for stability and cleanliness. Tyler highlights the intricate relationship between rising utility costs and capital supply, while emphasizing the need for disciplined investment to avoid overcapacity. With insights on global demand projections and underappreciated opportunities, he navigates the complexities of modern energy markets.
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Understand Utility Rate-Base Math
- Analyze utility rate-base mechanics and regulatory incentives before investing in a utility.
- Tyler warns that growth-driven capex can raise customer bills unless new load pays for itself.
Data Centers Are Nuanced For Utilities
- Data centers can be beneficial or create stranded-asset risk depending on contracts and local generation.
- Tyler cites examples where hyperscalers guarantee returns to prevent rate-payer impact.
From Cyclical To Scarcity Winners
- Consolidation and capital discipline have turned many cyclical commodity firms into steadier, scarce-supply operators.
- Tyler argues we're in an 'era of scarcity' where fewer companies earn above-average returns.