In this quarter’s edition:
Our team’s views on the recent developments within the Natural Resources sector.
Topic of the quarter:
Insight from Tom Nelson, Portfolio Manager, on the evolution of the ‘big oil’ business model. The oil price collapse from mid-2014 ushered in the latest business model of ‘value over volume’ for ‘big oil’. We believe it is the long-term threat of climate change, electrification and renewable energy that will dictate the next.