grid-risk
Wyoming's WECC-connected grid sits at the crossroads of America's energy past and future, where legacy coal generation, world-class wind resources, uranium mining, and the pioneering TerraPower Natrium advanced nuclear project converge to create one of the most complex and investment-rich energy transition stories in the nation.
etf-monitor
Invesco DB US Dollar Index Bullish Fund tracks the U.S. Dollar Index (DXY) through currency futures, providing a direct way to profit from dollar strength or hedge against a portfolio that is implicitly short the dollar through real asset and commodity positions. This analysis is part of Energy Macro’
tollbooth
Denison Mines is a uranium exploration and development company in Canada's Athabasca Basin, advancing the Wheeler River project — one of the world's largest undeveloped high-grade uranium deposits — offering leveraged upside to uranium prices for investors willing to accept development-stage risk. This analysis is part of Energy
grid-risk
Wisconsin's MISO-operated grid is navigating accelerated coal retirements while the Point Beach nuclear station provides critical firm winter capacity, and growing renewable development must contend with severe winter weather and transmission constraints connecting new generation to load centers. This analysis is part of Energy Macro’s Grid Risk
etf-monitor
iShares TIPS Bond ETF provides exposure to U.S. Treasury Inflation-Protected Securities, whose principal adjusts with CPI — the only government-guaranteed instrument that explicitly protects purchasing power against inflation, making it a foundational building block for real-return portfolios. This analysis is part of Energy Macro’s ETF Monitor research. For our
tollbooth
Uranium Energy Corp is America's largest pure-play uranium producer, operating low-cost in-situ recovery (ISR) mines in Texas and Wyoming — positioned as the domestic supply solution as the U.S. seeks to reduce dependence on Russian and Kazakh nuclear fuel. This analysis is part of Energy Macro’s Tollbooth
etf-monitor
iShares 20+ Year Treasury Bond ETF provides maximum duration exposure to U.S. government bonds, serving as the primary deflation hedge and risk-off position in the Energy Macro framework — the asset that rallies hardest when the economy breaks and the Fed is forced to cut rates aggressively. This analysis is
grid-risk
West Virginia's PJM-connected grid remains the most coal-dependent in the nation, facing an existential transition challenge as coal economics deteriorate while the state's pipeline infrastructure and natural gas resources offer a potential bridge to a more diversified energy future. This analysis is part of Energy Macro’
tollbooth
EOG Resources is the most capital-efficient U.S. shale producer, known for finding and developing premium drilling inventory that generates industry-leading returns on capital — the operator's operator in the Permian, Eagle Ford, and Utica basins. This analysis is part of Energy Macro’s Tollbooth Royalties research. For our
etf-monitor
Direxion Auspice Broad Commodity Strategy ETF applies trend-following rules to commodity futures, going long commodities in uptrends and moving to cash in downtrends — providing commodity exposure with a built-in risk management overlay that reduces drawdowns during commodity bear markets. This analysis is part of Energy Macro’s ETF Monitor research.
grid-risk
Washington's WECC-region grid is powered by the nation's largest hydroelectric system and the Columbia Generating Station nuclear plant, but climate-driven drought risk to hydro output, data center expansion east of the Cascades, and the state's 100% clean electricity mandate create growing reliability and investment
tollbooth
ConocoPhillips is the world's largest independent E&P company, operating the lowest-cost upstream portfolio among major producers — a pure-play oil and gas tollbooth with a $35/barrel breakeven and a disciplined returns framework that prioritizes shareholder distributions over production growth. This analysis is part of Energy Macro’