Market Commentary

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  • Making sense of taxes: The ABCs of MLPs
    March 6, 2014

    As the holidays turn to tax season, feelings of festivity are replaced with something more like confusion and dread. And for good reason. Various investments inevitably spark tax-related questions.

  • Tortoise Talk
    January 22, 2014

    2014: Looking back, heading forward

    As 2014 opens, the nascent North American energy revolution continues to help our economy enjoy energy cost advantages on a world scale that should have significant benefits for decades to come.

  • 2014: A look ahead
    January 21, 2014

    Read our views on opportunities emerging in 2014 that we expect will drive growth across the energy value chain.

  • Tortoise Talk
    October 24, 2013

    2013: Rounding the bend

    As we head into the final quarter of 2013, we remain excited about the energy revolution unfolding in North America. Gaining momentum daily, this energy renewal has the potential to dramatically fuel U.S. economic growth by creating more than a million U.S. jobs and generating billions in federal, state, and local tax revenues. It also is creating catalysts for change and opportunity throughout the North American energy value chain.

  • Tortoise Talk
    July 23, 2013

    2013: Mid-year review

    As we move into the second half of 2013, the nation continues its progress toward energy security. In fact, in March, we actually met more than 80 percent of our own energy needs. The robust oil and natural gas production out of North America’s unconventional shale basins continues to grow at an astonishing pace, with U.S. oil production this year hitting its highest level (an average of 7.3 million barrels per day) since January of 1992.¹ This robust production is also powering growth in the midstream sector of the energy value chain, creating profitable opportunities for midstream companies involved with transporting oil and gas from drilling sites to where they are needed.

  • Tortoise Talk
    April 17, 2013

    2013: Off and running

    With 2013 well underway, we continue to be excited about the North American energy renewal, with domestic production gaining momentum. While persistent headlines have drawn broad attention to this story, Americans are just now becoming aware of the positive implications for our economy and for North America's growing relevance as a global leader in energy production. Just as significant, however, is the pace at which oil and natural gas production is driving meaningful pipeline infrastructure buildout to adequately and efficiently transport these natural resources from collection sites to areas of growing demand. In the last three years, the U.S. added thousands of miles of oil and gas pipelines, but substantially more is needed to provide transportation quickly and efficiently to refineries and consumers.

  • Tortoise Talk
    January 23, 2013

    2012 Year in Review

    We continue to be optimistic about the North American energy sector and the potential for energy independence. Technology has changed the game in ways that dramatically benefit the North American energy sector. New techniques have enabled producers to unlock significant amounts of crude oil and natural gas across the U.S. and Canada, driving more efficient production, greater drilling success and faster drilling times. We believe these advances lay the groundwork for a decades-plus opportunity.

  • Market Insight
    November 16, 2012

    The U.S. presidential election may now be history, but investors still face a wall of worry as 2012 winds to a close. In addition to uncertainty about the balance of power in Washington, the markets have grown increasingly volatile as uncertainty escalates around the debt ceiling, burgeoning government debt, now at $16 trillion and growing, and a slew of monetary policy, tax and regulatory issues-the most pressing among them, of course, the looming year-end "fiscal cliff."

  • Tortoise Talk
    October 1, 2012

    A look at 2012 to-date

    We enter the fall of 2012 with a myriad of ongoing and emerging economic and geopolitical events dominating the headlines. Sluggish economic reports, a pending presidential election, turmoil in the Middle East and a potential fiscal cliff are all contributing to market uncertainty.

  • Tortoise Talk
    January 1, 2012

    2011 Year in Review

    Headlines in 2011 were dominated by one macroeconomic event after another as Eurozone debt concerns, the U.S. sovereign debt downgrade and slower than anticipated economic growth all contributed to broad-based market uncertainty. While energy was no exception to short-term volatility, the market recognized quality as evidenced by the performance of energy infrastructure pipeline companies. As we enter 2012, we believe the key fundamental drivers for the energy infrastructure sector remain intact, with accelerated growth potential on the horizon as a result of game-changing activity taking place in North American oil and gas shales.