Research
Lithium — Is the Recovery Real?
A pullback inside a young upcycle, the China supply restart, and whether the multi-year shortage still holds. Deep dive plus supply supplement.
Research
Standalone research notes — the thinking behind the book, published separately from executed trade notes.
Research
The 2026–27 Natural Gas Glut Thesis
Supply growth, LNG takeaway to 20 Bcf/d, AI power demand — and whether the independents are overproducing again or scaling with discipline.
Research
The New-Nuclear Map & Generator Deep Dive
Company structure, debt, the multiple, and where new nuclear actually gets built vs. where it's just a press release.
Research
AI Data Centers, Natural Gas & the Power Anchor
The new demand column the gas market isn't pricing — and why the near term is a gas story, not a nuclear one.
Research
The LNG Opportunity, 2026–2028
Shell's bull case vs. the phantom-demand bears, the Gulf-war overlay, and where the undervalued domestic supply and transport actually sit.
Research
Natural Gas & LNG — The 2026–2028 Master Thesis
The master note: the oil-to-gas rotation, the Shell-vs-bears LNG demand debate, the Gulf-war overlay, and the single 2027 Henry Hub print the whole bet is gated on.