Loading ...Otavio (Tavi) Costa
@TaviCosta
·
Apr 15
This chart gets to the heart of today’s inflation problem:
Constrained supply.
The only real solution starts with a surge in capital investment from commodity producers.
With capex still near cycle lows, there’s little chance of meaningful new supply hitting the market anytime soon.
For investors, that’s a clear message — the resource cycle is still in its early innings.
Wake me up when capex is back at peak levels.