Electricity is the ‘new oil’: 3 top energy stock picks

Yahoo Finance Video and Josh Lipton

Tue, February 24, 2026 at 8:30 PM GMT+9

In this video:

CEG

-0.35%

CCJ

-2.14%

EQT

-2.43%

Tortoise senior portfolio manager and managing director Rob Thummel joins Market Domination Overtime host Josh Lipton to discuss the energy sector (XLE) and his top stock picks in the space.

Watch the video above to hear why Thummel says electricity is the “new oil.”

To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime.

Video Transcript

00:00 Josh

I think I’ve heard you say Rob, from electricity, I think you framed me it’s like the new oil now. Let let’s put some numbers on that. I mean, electricity demand, you think it grows by what? Rob, over 1, three, five years? And do you think investors perhaps, you know, maybe they don’t they don’t appreciate that trend as much?

00:23 Rob

No, you you’re you’re spot on, Josh. It’s still electricity demand is still an underappreciated story. Uh, and and we’ve been identifying that here at Taurtis for a while. Uh, you know, we we we we you’re you’re right. We we we describe it as electricity being the new oil. What I mean by that is if we’re going to an AI driven economy, if we’re going to AI being the next industrial revolution, what does AI need? It needs electrons. You know, electrons need electro generation, electro generation needs infrastructure. And so, so yeah, that’s that’s what we expect. And so then what does that mean in terms of demand? 2 to 3% annually of of of growth in electricity demand. Uh and when you start compounding that over a series of decades, that’s a lot of electricity.

01:03 Josh

So one way to play that big trend, you say Constellation Energy. Why is that a buy, Rob?

01:10 Rob

Well, constellation is, you know, it’s one of the the largest independent power producers in the US. It’s it’s some of its electricity generation facilities are are located perfectly with where we’re seeing this demand for data centers like in Data Center alley in Northern Virginia, in Texas. Um, Constellation is actually also the largest producer of nuclear power, right? And so nuclear power is going to be really important going forward as well because nuclear power uh can be one of the lowest cost power solutions. And so, if we’re going to generate all this electricity in the US, win the global AI race, which I think we’re going to do, we’re going to have to do it with low cost electricity. The US has a really good opportunity by using its nuclear power, its natural gas, its solar and its wind, um, as well as hydro and and maybe even a little bit of coal and and put all those together. You know, the US can win this global AI race.

02:00 Josh

Uh a relatively lesser known name, one you like, Cameco Rob. Uh talk about that name, their role in this broader investment trend. The stock is a monster. It’s up about 150% over the past 12 months, Rob.

02:22 Rob

It is. Cam Camco though is is is a leading you know, uranium provider, right? So what is what is uranium? Why is that involved? Well, you need uranium to to generate electricity from from nuclear facilities, right? And so, so we we we think nuclear is so important, Josh that here at Taurtis that we launched a uh the Taurtis Nuclear Renaissance active ETF recently and Camco is one of the leading names or one of the top top top uh uh allocations in in that particular active ETF because it it has some of the best mining opportunities in in uranium and and uh and then and in addition to that though, they’re growing their contract base basically along with uh their uranium production. and these and these are long-term contracts. So they’re they’re not a commodity play. They’re actually more of a play on electricity demand going forward and AI going forward as well. And so we think investors can can stealthily get into a a company like Camco and and and and other nuclear companies as well as natural gas companies um by by if they’re wanting to play the AI uh theme, but they don’t have to pay the mega cap tech multiples.

03:45 Josh

You mentioned natural gas there, also of course plays a an important role in this big theme you’re discussing. EQ EQT, still the way to play it, Rob?

04:02 Rob

Yeah, I don’t know if you saw yesterday, but you know, the the Commerce Department announced this massive uh natural gas plant power plant, probably the largest one uh in in in in the US that that potentially will be built in in Pennsylvania. It’s it’s effectively in EQT’s backyard. Actually, it’s in Ohio, I meant I meant to say. It’s in Portsmoth uh Portsmoth uh Ohio. Who’s going to provide the natural gas? Well, it’s going to be the Marcellis shale, and who are some of the largest producers in the Marcellis shale? Well, EQT and and EQT and Toby Rice and the team have done a phenomenal job there since taking over of allocating capital, uh you know, producing more natural gas when it’s needed, slowing down production when prices go lower. and so, done a phenomenal job of managing the company and and we think that EQT will will be one of the benefactors of the long-term demand for AI and the role that natural gas will play, which will play a really important role in providing the fuel supply to generate the electricity that that generates uh the power and and continues the development of uh AI development.

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