In this episode of Definitely Uncertain, Adam Rozencwajg from Goehring & Rozencwajg returns to the podcast to discuss why he believes the global energy market is far tighter than most investors realize, arguing that oil shortages, underinvestment in energy production, and geopolitical disruptions are setting up a long-term commodity bull market. He explains why his firm shifted heavily from gold into oil and natural gas, outlines concerns about U.S. shale depletion, the Strait of Hormuz disruptions, OPEC instability, and inflation risks, while also sharing his outlook on gold, energy stocks, and the broader macroeconomic environment.

IN THIS EPISODE, WE DISCUSS:
• Commodity Markets
• Oil & Natural Gas
• Shift from Gold
• Geopolitical Risks
• Macroeconomic Outlook