Global electricity demand is growing more than twice as fast as overall energy demand, according to the International Energy Agency—so how should investors be positioned to capitalize on this explosive shift? On this episode of In the Money with Amber Kanwar, Robert Thummel, Managing Director & Senior Portfolio Manager at Tortoise Capital, explains why “electricity is the new oil” and how the rise of AI, data centres, and electrification is driving a once-in-a-generation opportunity across energy infrastructure, natural gas, and power generation.
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With US markets closed and not much happening in Canada, here is an abridged morning summary:
Memorial day: Stock futures are soaring and oil is plunging 5.6% on reports that the US and Iran are edging closer to a deal. If only it were that easy – there are plenty of conflicting reports and antagonistic memes coming from US President Donald Trump’s social media (what a time to be alive!) Whether wishful thinking or not, the market is pricing in that the end is near for this three month long war. Even with this volatility, energy stocks have held up with the TSX Energy Sector trading near record highs. Gold is getting its groove back, up 1% in the pre-market. Gold is down about 14% since the war began.
Canadian banks are on deck this week. For a preview of what to expect read my Globe and Mail column!
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