special-report
The $33 Million Insider Bet — Energy Transfer (ET)
A CEO put $33.76 million of his own money into his own company while Wall Street institutions were selling. Here's why we think he's right.
tollbooth
tollbooth
TECK Stock: Is Teck Resources a Buy? | Copper Tollbooth Play
Teck Resources is a late-cycle copper tollbooth positioned to capture outsized gains from North American grid modernization and AI data center buildouts, with 6.7 billion pounds of proven copper reserves and a newly commissioned QB2 project adding 320,000 tonnes of annual production just as structural demand accelerates. This
tollbooth
SCCO Stock: Is Southern Copper a Buy? | Copper Tollbooth Play
Southern Copper operates the world's largest copper reserves in Peru and Mexico, with 70+ million tonnes of copper in the ground — a multi-generational tollbooth on the electrification megatrend with the lowest cost structure and longest reserve life among major copper producers. This analysis is part of Energy Macro’
tollbooth
FCX Stock: Is Freeport-McMoRan a Buy? | Copper Mining Play
Freeport-McMoRan is the world's largest publicly traded copper producer, operating the Grasberg mine in Indonesia — the world's largest copper and gold deposit — making it the dominant tollbooth on the metal most essential to grid electrification, data centers, and the energy transition. This analysis is part of
tollbooth
LEU Stock: Is Centrus Energy a Buy? | Uranium Enrichment Play
Centrus Energy is the only U.S.-owned uranium enrichment company and the sole domestic producer of HALEU fuel required for next-generation nuclear reactors — a strategic monopoly tollbooth as America races to rebuild its nuclear fuel supply chain independent of Russia. This analysis is part of Energy Macro’s Tollbooth
tollbooth
NXE Stock: Is NexGen Energy a Buy? | Uranium Deposit Play
NexGen Energy is developing the Rook I project in Canada's Athabasca Basin — the highest-grade undeveloped uranium deposit on Earth — offering transformative upside if the project reaches production in a market facing a structural uranium supply deficit. This analysis is part of Energy Macro’s Tollbooth Royalties research. For
tollbooth
DNN Stock: Is Denison Mines a Buy? | Uranium Mining Play
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
tollbooth
UEC Stock: Is Uranium Energy Corp a Buy? | Nuclear Fuel Play
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
tollbooth
EOG Stock: Is EOG Resources a Buy? | Shale E&P Play
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
tollbooth
COP Stock: Is ConocoPhillips a Buy? | Oil & Gas E&P Play
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’
tollbooth
CVX Stock: Is Chevron a Buy? | Oil & Gas Major Play
Chevron is a global energy supermajor operating a high-quality upstream portfolio, the largest U.S. refining system, and a growing LNG export business — returning $75+ billion to shareholders through 2027 while maintaining 37 consecutive years of dividend increases. This analysis is part of Energy Macro’s Tollbooth Royalties research. For
tollbooth
XOM Stock: Is Exxon Mobil a Buy? | Energy Major Play
Exxon Mobil is the world's largest publicly traded energy company and the dominant integrated oil and gas tollbooth — producing 3.7 million barrels per day, operating the largest U.S. refining fleet, and expanding Permian Basin output while returning record capital to shareholders. This analysis is part of