EP 034: T. Rowe’s TURF, is Bullish the Canadian Oil Sands & The Oil Cycle
Priyal Maniar, Co-PM of TURF and Global Energy Analyst, dives deep into why T. Rowe - who manages $1.8 Trillion - is structurally bullish the oil cycle.The marginal cost of production is increasing and US shale geology has peaked meaning the next well is more expensive and less productive.
The recent U.S. - Iran war, wipes out the over supply from the start of the year and pulls forward the bullish productivity decline thesis. It also puts energy security in focus and improves demand for energy sources like coal. TURF expresses the bullish oil bet through an overweight position in Oil Sands…
The skinny
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