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Pla2na/iStock via Getty Images All financial numbers in this article are in Canadian dollars unless noted otherwise. Please note that oil and gas prices are always in US$. Introduction Things are developing very quickly – even quicker than I expected. Almost two months ago, I wrote an article titled Canadian Natural Resources Is One Of The Best Oil Stocks Money Can Buy . In that article, I focused on Canadian Natural Resources Limited (NYSE: CNQ ) earnings and reasons why I’m bullish on oil. In this article, I want to take things a bit further. As most of my readers will know, I’ve been bullish on oil for a while. Energy is the second-largest sector in my portfolio. I mainly focus on companies that are able to deliver high returns at elevated oil prices for one major reason: I want to protect my portfolio against prolonged above-average inflation. My thesis is built on two major pillars. Oil supply growth is slowing as the supply growth engine of the past 15 years is quickly losing momentum. I’m talking about U.S. shale, which ended a multi-decade oil production decline in the United States. Goehring & Rozencwajg Demand growth. While I am […]
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