Energy Is About to Become the Most Valuable Asset on Earth w/ Clem Chambers

Watch on YouTube ↗  |  May 05, 2026 at 14:45  |  42:46  |  Milk Road Daily
Speakers
Clem Chambers — CEO, Online Blockchain

Summary

Clem Chambers discusses the massive structural shifts from Iran oil disruption, AI revolution, and resource hoarding. He recommends long positions in non-Middle East oil (Equinor), AI infrastructure (Nokia), dollar-cost averaging into gold, rare earth processors (Neo Performance Minerals, Sprott ETF), and major miners (Glencore, Anglo-American). The episode emphasizes energy scarcity, inflation, and active investing in second-order effects.

  • Iran conflict is breaking its oil industry due to tank storage filling up, forcing shutdowns and removing supply.
  • Non-Middle East oil producers like Equinor gain strategic value and pay dividends.
  • Nvidia invested $1B in Nokia for 6G AI infrastructure, making Nokia a key 6G play.
  • Gold is in a dollar-cost averaging environment, with long-term upside from money printing for AI capex.
  • China controls 70-90% of rare earth processing, creating a bottleneck that Western processors like Neo Performance Minerals can exploit.
  • Glencore and Anglo-American are favored as large, focused miners of strategic and copper resources.
  • AI will cause a massive economic boom and reindustrialization, requiring vast energy buildout.
  • Inflation is expected to persist due to reshoring and energy scarcity, but productivity gains from AI may dampen it partially.
Trade Ideas
Clem Chambers CEO, Online Blockchain 6:08
Norwegian oil safe from Iran disruption
Clem is long Equinor (Norwegian state oil company) because it produces oil outside the Middle East, making it immune to the Iran conflict and Strait of Hormuz disruptions. The company pays a ~3.8% dividend, providing income while holding exposure to rising oil prices. As Iran's oil industry breaks down due to tank storage filling up and forced shutdowns, non-Middle Eastern oil producers gain pricing power and strategic value.
EQNR HIGH
Clem Chambers CEO, Online Blockchain 23:43
Nokia is 6G AI infrastructure play
Clem is long Nokia because Nvidia invested $1 billion into the company to partner on 6G infrastructure with integrated AI. Nokia controls the backend of mobile phone networks, and Chinese rivals have been kicked out over security concerns, leaving Nokia as a key Western supplier. The coming 6G buildout and AI stack make Nokia a second-order beneficiary of the AI revolution.
NOK HIGH
Clem Chambers CEO, Online Blockchain 27:12
Dollar-cost average into gold now
Clem recommends dollar-cost averaging into gold (and precious metals) at current levels. He recently exited his gold positions but believes the long-term trend is higher due to money printing for AI capex and inflation. A systematic DCA approach avoids timing risk and builds exposure gradually, targeting a 2.5% to 5% portfolio allocation.
GOLD HIGH
Clem Chambers CEO, Online Blockchain 31:52
Glencore is strategic minerals proxy
Clem owns Glencore because it is a massive, diversified miner focused on strategic and critical minerals. He views the company as a proxy for the future of resource security and critical mineral supply chains, which will be in high demand as the world reindustrializes and builds out AI infrastructure.
GLNCY MED
Clem Chambers CEO, Online Blockchain 32:10
Anglo-American is a copper consolidation play
Clem likes Anglo-American because it is a pure copper play after divesting non-copper assets, and is merging with Teck Resources in Canada to further consolidate copper exposure. Copper is essential for electrification, AI data centers, and reindustrialization, making Anglo-American a focused beneficiary.
NGLOY MED
Clem Chambers CEO, Online Blockchain 34:44
Rare earth processors benefit from bottleneck
Clem is bullish on rare earth minerals due to a severe processing bottleneck controlled by China. He owns Neo Performance Minerals (Canadian rare earth processor) and holds a position in the Sprott Rare Earth ETF. The West needs to rebuild its own processing capacity, and these pure-play rare earth companies will benefit from strategic demand and reshoring.
Neo Performance Minerals REMX HIGH
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This Milk Road Daily video, published May 05, 2026, features Clem Chambers discussing EQNR, NOK, GOLD, GLNCY, NGLOY, Neo Performance Minerals, REMX. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Clem Chambers  · Tickers: EQNR, NOK, GOLD, GLNCY, NGLOY, Neo Performance Minerals, REMX