---
title: Q1 2023 Goehring & Rozencwajg Commentary
description: In 2018 we predicted the Permian would peak in the mid-2020s. Now we believe it could happen a lot sooner. Goehring & Rozencwajg share their research.
image: https://info.gorozen.com/hubfs/Content%20Offers/2023.Q1%20Commentary/2023.Q1%20G%26R%20Commentary%20-%20LinkedIn.png
---

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# Hubbert's Peak is Here

![2023.Q1 Commentary Cover Image](https://info.gorozen.com/hs-fs/hubfs/Content%20Offers/2023.Q1%20Commentary/2023.Q1%20Commentary%20Cover%20Image.png?width=202&height=259&name=2023.Q1%20Commentary%20Cover%20Image.png)

The only source of growth over the past decade, the shales, are now beginning to show signs of exhaustion.

In 2019 we detailed our neural network and explained why the Permian Basin would peak later in the decade. *In retrospect, we were too conservative.*

Productivity in the Permian fell last year for the first time in history.

Our newest commentary, ***Hubbert’s Peak is Here***, looks at what is driving lower productivity in the shales, and why recent trends could predict field exhaustion across the shales.

Download our Q1 2023 commentary for insight into:

- Why the Permian may peak later this year
- Why we remain bullish on natural gas
- Trends that could spell the end of the US dollar as a global reserve currency
- Where commodity markets go from here

## *Please fill out the form on this page to download a copy of our Q1 2023 market commentary.*

## *Download Your Copy*

Goehring & Rozencwajg Associates, LLC. The information provided on this website is intended to provide the investor with an introduction to Goehring & Rozencwajg Associates, LLC. Nothing on this website should be construed as a solicitation offer, or recommendation to buy or sell any security or as an offer to provide advisory services. Information on this website is intended only for United States citizens and residents. Nothing contained on this website constitutes investment, legal, tax, or other advice nor should be relied upon in making an investment or other decision. Investors should always obtain and read an up-to-date investment services description or prospectus before deciding whether to appoint an investment advisor or to invest in a fund.

This material may include estimates, outlooks, projections and other “forward-looking statements.” Due to a variety of factors, actual events or market behavior may differ significantly from any views expressed. Investing entails risks, including possible loss of principal. Investments concentrated in natural resources involve a higher degree of risk than more diversified strategies. Past performance is no guarantee of future results.

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