By Stuart Cartner, Portfolio Manager, and Shawn Amini, Senior Analyst
The rise of US shale oil over the past decade has upended previous energy market norms, leading to uncertainty over supply trends and heightened volatility that ebbs and flows even today. Furthermore, the emergence of renewable energy in power generation and electric vehicle ((EV)) proliferation have created additional uncertainty about future oil demand.
However, we believe some basic macro-level trends have emerged that will define the "new normal" in US shale. First, the productive, low-cost nature of the principal US oil and gas shales