The Meb Faber Show
Welcome to The Meb Faber Show, where the focus is on helping you grow and preserve your wealth. Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser. Better investing starts here.
Jeff Currie, Goldman Sachs - Why ESG May Make This Commodity Supercycle Different From Past Cycles | #445
Today’s guest is Jeff Currie, Goldman Sachs’ global head of Commodities Research. In today’s episode, Jeff shares why he called for a commodity supercycle almost two years ago and where we are within that cycle today. He touches on the underinvestment in supply, why ESG makes this cycle different from past cycles, and why the risk of a policy error could exacerbate the problems we have in the commodity markets today. Be sure to stick around to hear Jeff’s price target for oil and a surprising call on the European energy markets.
Key Points
- Jeff Curry of Goldman Sachs predicts a bullish structural outlook for commodities due to policy decisions that favor lower-income groups, leading to increased volumetric demand and reinforcing the cycle of inflation.
- Supply shortages in commodities are intensifying, with underinvestment and ESG considerations complicating capital infusion into the old economy sectors like oil, refineries, and mining.
- Aluminum presents a unique investment opportunity due to the climate paradox, where it's essential for decarbonization efforts but its production is energy-intensive, leading to potential shortages amid the energy crisis.
Chapters
| 0:00 | |
| 1:24 | |
| 3:16 | |
| 8:12 | |
| 14:19 | |
| 19:40 | |
| 26:50 | |
| 29:24 | |
| 33:36 | |
| 41:38 | |
| 44:11 |
Transcript
Loading transcript...
- / -