[Editor's note: A version of this story appears in the March 2021 issue of Oil and Gas Investor magazine.]
Let’s talk repair jobs. No doubt at some point, you’ve gone to the hardware store to pick up a tub of Spackle. You used this handy little putty item, patented in 1928, to fill in holes or smooth over cracks and imperfections in the sheetrock before you had to paint a wall.
Today, raising money for traditional oil and gas companies is full of holes and public markets need a big repair with some kind of Spackle. Likewise, the ability of former Wall Street darlings, the energy infrastructure companies (pipelines, gas processing plants, midstream in general) to raise money has also cracked. Because most of the necessary and massive North American oil and gas pipeline buildout is complete, construction is slowing down and what’s left to be finished has been stopped by government roadblocks.
So today “energy infrastructure” has turned green, taking on a new meaning: any facilities or equipment for electric vehicle (EV) charging stations, wind farms or solar arrays, or battery storage. And this North American infrastructure buildout is going to be massive.