Episode Notes

This month, Senior Portfolio Manager Matt Sallee covers key energy market updates:

• Market Performance: AI-fueled energy demand drives infrastructure growth.
• Natural Gas Expansion: Major investments from Constellation, NextEra, and Chevron signal a shift toward gas-powered generation.
• Kinder Morgan’s Outlook: $3.3 billion in new natural gas pipeline projects, with demand forecasted to grow 30% by 2030.
• Energy Tariffs: Trump’s executive orders impose tariffs on Canadian and Mexican imports, impacting refiners, with the situation continuing to evolve.
• Quick Hits: DeepSeek’s AI model shakes energy markets, Meta and Microsoft reaffirm AI infrastructure spending, and Venture Global’s $1.8 billion IPO signals renewed capital market activity.