Tom Petrie

PETRIE: THE ENERGY REVOLUTION

June 20, 2014

Are we really in the midst of an energy revolution? Could the U.S become energy independent? What are the repercussions for the economy, investors and even national security? Financial Thought Leader and energy guru Tom Petrie uses his 40 years of experience as an energy analyst, investment banker and strategist to provide answers in this WEALTHTRACK exclusive. Continue Reading »

PETRIE: THE ENERGY REVOLUTION TRANSCRIPT

June 20, 2014

Energy guru, investment banker and author Tom Petrie discusses some of the revolutionary implications of hydraulic fracturing on the U.S energy sector.

Consuelo Mack: This week on WealthTrack, the Energy Revolution! With oil and gas production increasing rapidly in various parts of the country financial thought leader and energy guru Tom Petrie tells us what it means for energy independence, the economy and national security, next on Consuelo Mack WealthTrack.

Hello and welcome to this special energy edition of WealthTrack, I’m Consuelo Mack. Are we in the midst of an energy revolution? Is it possible that the U.S. could become energy independent with all of the enormous economic and national security implications that would entail? Before I discuss those questions with this week’s guest some perspective might be helpful.

Until the recent shale oil technology revolution the common wisdom was that U.S. oil production had peaked in the late 1960’s/early 1970’s. Called Hubbert’s Peak after M. King Hubbert, the oil geologist who predicted it in 1956, oil production, which had been increasing since the 1900’s was expected to peak as known oil reserves were depleted. Until recent years Hubbert’s Peak was believed to be a fact of life. Then came game-changing technology called hydraulic fracturing or fracking, a process that injects fluids, mostly water, under high pressure into horizontally drilled oil or gas wells. That fracking process forces apart or fractures tight rock formations releasing previously inaccessible oil and gas reserves. The difference in U.S. oil and gas production from fracking is huge. In oil alone, the international energy agency predicts production which had been declining for decades will soar especially in desirable light crude from those tight rock formations. The impact on natural gas production is also enormous. By some estimates it is expected to increase 30-40% from current levels. According to independent research firm Cornerstone Macro increased domestic oil and gas production has already had a dramatic impact on energy imports. Imports have fallen by almost half to the lowest level in more than two decades.

This week’s financial thought leader guest has spent over four decades in the oil and gas industry as an analyst, investment banker and advisor to energy companies and governments and has just written a book about it. He is Tom Petrie, chairman of Petrie Partners, a boutique energy-focused investment banking firm and his book is “Following Oil: Four Decades of Cycle-Testing Experiences and What They Foretell about U.S. Energy Independence”. During those forty years Tom has been vice chairman of Bank of America Merrill Lynch. Co-founder and partner of his previous energy investment banking firm Petrie Parkman and in his analyst days was voted number one oil analyst for eight years running in the exploration/independent oil sector by Institutional Investor Magazine. I began the interview by asking Petrie why he believes we are indeed experiencing an energy revolution.

Tom Petrie: This is a period where there are some major game changers going on in the energy supply. What we now have is a situation where the outlook for the next one, two, possibly three decades is much brighter than we thought it was 10 years ago. That’s revolutionary. It’s a game changer because the model for finding and developing new supplies of oil and gas in North America has totally shifted and …

PETRIE: ENERGY RISKS AND REGULATION

June 20, 2014

Financial Thought Leader Tom Petrie has been in the thick of global energy developments and debate for 40 years as an analyst, investment banker and strategist. He believes the energy revolution, the enormous increase in oil and gas supplies brought about by fracking technology is for real. He also says the valid environmental concerns associated with it are recognized by regulators and the energy industry and are manageable, even when done near heavily populated areas.

Watch the related WEALTHTRACK episode.

BOB DOLL, JOHN MONTGOMERY AND TOM PETRIE

October 9, 2009

This week on Consuelo Mack WealthTrack three outstanding financial world figures: Bob Doll runs three large cap funds at BlackRock; John Montgomery heads up a family of funds using computer models at Bridgeway Capital; Tom Petrie, Vice Chairman of Bank of America – Merrill Lynch, is a veteran observer of the energy sector.

WEALTHTRACK Episode #515; Originally Broadcast on October 09, 2009

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Doll-Montgomery-Petrie

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BOB DOLL

Vice Chairman, Global Chief Investment Officer for Equities, BlackRock

JOHN MONTGOMERY

Founder, CEO Bridgeway Capital Management

TOM PETRIE

Vice Chairman, Bank of America Merrill Lynch

Consuelo Mack Has the opening shot been fired? Has the great stimulus withdrawal begun? That is the question heard in financial markets round the world this week as Australia’s central bank became the first of the group of 20 major developed countries to raise interest rates after more than a year of global reductions.

The Australian Reserve Bank’s explanation that “The risk of serious economic contraction in Australia now having passed…” raises questions about when other countries will hike their rates. Likely candidates are commodity-based economies like Brazil that are recovering swiftly and Asian countries like South Korea, China and Indonesia, which are leading the world rebound.

Gold has been a beneficiary of the pick up in global activity. This week it hit a new record, closing at $1,062.70 an ounce today. The precious metal is up nearly 20% so far this year. Meanwhile oil, which closed at $71.65 a barrel this afternoon in New York, has appreciated about 60% year-to-date. According to this week’s guest, energy analyst Tom Petrie, the long term trend for black gold is considerably higher.

And what about stock prices? Third quarter earnings reports are starting. Alcoa led the pack this week with an unexpected profit for the third quarter. What’s the outlook, especially considering the market’s recent meteoric rise? The S&P 500, which as of today has advanced for four straight sessions, has rocketed 57% from the March lows.

How soon are global interest rates going to rise? What’s the prognosis for the economy, earnings and oil and where is there money to be made in the markets? This week on WealthTrack we’ll put those questions to our three market pros.

Bob Doll is the Vice Chairman and Global Chief Investment Officer, Equities, at BlackRock. Bob is also a respected money manager who runs three different large-cap funds for BlackRock: Core, Growth and Value.

John Montgomery is the founder and director of Bridgeway Capital Management, which manages a family of mutual funds using computer models and quantitative methods. John manages 10 of the 11 funds and has compiled a top-notch performance record since the firm’s launch in 1993.

Tom Petrie is one of the savviest oil and gas analysts and advisors in the business. Tom’s longtime research and investment banking firm Petrie Parkman was bought a few years ago by Merrill Lynch and he is now a Vice Chairman of Bank of America Merrill Lynch.

All of our guests will share their “One Investment” recommendation for a long term diversified portfolio. And in my action point I’ll pick up on some of their suggestions.

Thanks for watching and make the week ahead a profitable and a productive one.

Best regards,

Consuelo Mathews Asia

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ED HYMAN, CHRIS DAVIS AND TOM PETRIE

WealthTrack focuses on the economy, energy and value investing with three guests exclusive to us. ISI Group’s Ed Hyman, Wall Street’s number one ranked economist for 27 years running, star value investor Chris Davis of the Davis Funds, and veteran energy hand Tom Petrie, Vice Chairman of Merrill Lynch.

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BURTON MALKIEL, TOM PETRIE AND DAVID LAIBSON

This week on WealthTrack, it’s back to school with three experienced investment mentors- Random Down Wall Street’s Burton Malkiel, Harvard behavioral economist David Laibson, and energy market veteran Tom Petrie. They all have pointers for tough market tests.

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PETER FRANCESE, ROBERT KLEINSCHMIDT AND TOM PETRIE

We’ll talk about long-term demographic trends and the investment opportunities they are creating with demographics pioneer, Peter Francese, the founder of American Demographics magazine. Plus we’ll explore some of the deep values being created in the beaten down oil patch with veteran analyst and investor Tom Petrie, and in a WealthTrack television exclusive, delve into other sectors of the financial markets with fund manager Robert Kleinschmidt of the highly regarded Tocqueville Funds.

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PETER FRANCESE, ROBERT KLEINSCHMIDT AND TOM PETRIE

February 6, 2009

On this week’s Consuelo Mack WealthTrack we’ll talk about long-term demographic trends and the investment opportunities they are creating with demographics pioneer, Peter Francese, the founder of American Demographics magazine. Plus we’ll explore some of the deep values being created in the beaten down oil patch with veteran analyst and investor Tom Petrie, and in a WealthTrack television exclusive, delve into other sectors of the financial markets with fund manager Robert Kleinschmidt of the highly regarded Tocqueville Funds.

WEALTHTRACK Episode #432; Originally Broadcast on February 6, 2009

Listen to the audio only version here:
Francese – Kleinschmidt – Petrie

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PETER FRANCESE

Founder, American Demographics

ROBERT KLEINSCHMIDT

President, Chief Investment Officer, Tocqueville Asset Management

TOM PETRIE

Vice Chairman, Bank of America Merrill Lynch

Consuelo MackNo Newsletter for this Episode Mathews Asia

No Action Point details available for this episode.

No Bookshelf titles available for this episode.
No One Investment details available for this episode.
No Stock mention details available for this episode.
PREMIUM subscribers have access to this transcript here.

You can also purchase and download this transcript safely and securely with your credit card or PayPal account for $4.99. You will need the free Adobe Acrobat Reader (Mac/Win) or Preview (Mac) to view and print the transcript.

ED HYMAN, CHRIS DAVIS AND TOM PETRIE

WealthTrack focuses on the economy, energy and value investing with three guests exclusive to us. ISI Group’s Ed Hyman, Wall Street’s number one ranked economist for 27 years running, star value investor Chris Davis of the Davis Funds, and veteran energy hand Tom Petrie, Vice Chairman of Merrill Lynch.

WATCH NOW…


BURTON MALKIEL, TOM PETRIE AND DAVID LAIBSON

This week on WealthTrack, it’s back to school with three experienced investment mentors- Random Down Wall Street’s Burton Malkiel, Harvard behavioral economist David Laibson, and energy market veteran Tom Petrie. They all have pointers for tough market tests.

WATCH NOW…


No WEB EXTRA available for this episode.

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