A significant long-term capital deficit in the oil industry will result in higher oil prices over the next several years.

“We've had uh almost half a decade of underinvestment in sustaining capital in the oil and gas business. It's a capital intensive business. If you don't invest, you can't produce. And this sustaining capital deficit has been in the order of a billion dollars a day.”

Garrett Baldwin notes that a significant shift to commodities is a normal phase of the investment cycle.

“It is a rotation to energy, materials, and consumer defensive. So, it's it's right on time.”

Copper prices are at risk of declining due to global economic factors and high correlations to the stock market.

“I see copper at major risk of dropping, which is around five now and backing down going towards four.”

The lack of price transparency in the helium market is driven by confidentiality clauses in private, long-term contracts between suppliers and industrial gas companies.

“There's a confidentiality clause in every helium contract. So we sell on long term contracts primarily to big industrial gas companies. But those are all confidential.”

The conflict in the Strait of Hormuz is causing a global spike in aluminum prices due to the inability of regional producers to export their goods.

“Right now, we're seeing, you know, our world that's heavy on metals, of course, is being affected by the inability for Gulf aluminum producers to be able to ship aluminum out, moving out of the Gulf. So that's already created a spike in global aluminum markets”