David Rewcastle has been a security analyst in numerous industry sectors, originally with a concentration in Energy and Utilities for nearly two decades; receiving numerous accolades for stock picking returns and earnings estimate accuracy.
NEW HAVEN, CT / ACCESSWIRE / October 27, 2022 / Over the past year, Equity and Fixed Income Analyst David Rewcastle, Darien, CT, has been seeing massive change. His insights have been featured in USA Today, Bloomberg, Barrons, and many more prominent publications. A look back at the last year shows a spike in heating bills and fuel prices for many Americans.
Half of U.S. homes use natural gas for heat and water. Electricity prices have increased by 15.8% in the past 12 months due to natural gas being used to produce electricity.
"Everything is going bonkers right now" David Rewcastle stated.
After a winter that was colder and longer than expected, Europe's energy crisis is being caused by a shortage of natural gas. This problem was made worse by a less windy summer than expected. Wind turbines were unable to generate as much energy and had to burn more natural gas.
"If we had the Marcellus pipeline to Pennsylvania, this wouldn't be an issue,"David Rewcastle told USA Today. The University of New Haven analyst and economics professor referred to the pipeline between the lush natural gas Marcellus shale and New England that was blocked.
During the summer of 2022, Americans cut back on travel decreasing demand. President Joe Biden drained the U.S. Strategic Petroleum Reserve (SPR) to help increase supply. This combination helped decrease the cost of fuel.
These solutions will not provide the comfort or relief that Americans, already being crushed by inflation, need to get through the winter months.
"We will be paying for it," Rewcastle said, noting there's no short-term solution. "Maybe this will be a teachable moment."
The global energy crisis could also have a negative impact on other economic sectors.
David Rewcastle stated, "If you look in front of every recession, you will find oil shock. There are hardly any recessions that you will not find an oil shock preceding."
Higher energy prices not only make it more expensive to power a house but also impact other consumer goods. Natural gas is used to make fertilizers for crops. Higher oil prices reflect higher shipping costs to stores.
David Rewcastle, Darien, CT
David Rewcastle is an equity and fixed-income analyst with a focus on the Gas Utility Sector. David has the following mission: to provide everyday investors with the knowledge and confidence to make sound financial investments. His insights have been recognized by Wall Street Journal's "Best On The Street" award for portfolio performance in the Oilfield Services Sector, has been awarded the top-ranked stock picker for the Gas Utility Sector by Starmine/Forbes Magazine, and Starmine/Financial Times rated David as the #3 analyst in the US Gas Utility sector. David is based in Darien, CT.
Contact:
SOURCE: David Rewcastle