Hydrocarbons and the energy ecosystem are in transition. Last year capital expenditures for renewable energy outpaced oil and gas capital expenditures for the first time.

• A core theme for Sourcerock is the source of energy globally will inevitably transition to more environmentally friendly sources over time

• This paradigm shift will likely be one of the single biggest shifts of wealth we witness within our lifetime—with a tremendous amount of innovation and disruption

• As with any paradigm shift, there will be winners and losers—creating a rich environment for alpha-driven “new energy” investing