Capital deployment in the current market setting favors the orchestration of precision over the pursuit of scale, sequenced only when sufficient risk-adjusted returns, timing leverage,
1st Topic of the Week: If EV growth plateaus in the West, could stationary storage become the hinge of critical mineral demand, redefining value through
2025 increasingly appears to mark the cyclical and structural bottom in construction materials, as collapsing completions and tightening inventories set the stage for affordability-driven recovery
C-MACC Weekly Sustainability and Energy Transition Report From Grease to Geopolitics: Decarbonizing Fuels Gets Dirty, Profitable, and Personal Exhibit 1: Biofuel producer equities underperformed most
General Thoughts: When rules replace principles, strategy dies – the ongoing tariff dispute is fueling uncertainty, freezing investment, and rewarding inefficiency while chemical producers bet
1st Topic of the Week: Water scarcity poses a growing constraint to lithium production, with over half of global reserves in water-stressed regions—escalating risks of
General Thoughts: US ethanol producers face negative margins amid overproduction, with biofuel policy support in the US as a potential demand driver positioned to tighten
General Thoughts: Western commodity chemical price support relative to Asia since late 2023 amid logistic issues and supply curtailments could dissipate by 2H24, pinching profits
General Thoughts: Global chemical production significantly grew YoY in 4Q23, and this momentum continued into 2024 in the West and China: this suggests oversupply if
General Thoughts: Global natural gas prices have declined on an absolute basis and relative to Western power prices since 2H23, boosting blue and grey hydrogen
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