JPMorgan Chase will invest up to $10 billion in U.S. companies tied to national security, including energy, nuclear power, grid infrastructure, and critical minerals, as part of a wider $1.5-trillion capital pledge aimed at strengthening the country’s industrial base, Reuters reported on Monday.
The program, branded as the bank’s “Security and Resiliency Initiative”, identifies four strategic domains: energy independence and resilience, defense manufacturing, critical minerals, and advanced technologies. Within energy, JPMorgan said it plans to focus on nuclear generation, battery storage, and distributed power systems that enhance grid stability.
The bank will combine direct lending, equity stakes, and advisory services while hiring new bankers specializing in strategic industries.
The plan originally stems from JPMorgan’s 2023 Energy Supercycle outlook, which forecasts a global oil market deficit of roughly 1.1 million barrels per day this year and warns that chronic underinvestment could widen that gap through 2030. In a note to clients in June 2025, JPMorgan reiterated its base-case forecast for Brent crude to remain in the low-to-mid-$60s this year, and around $60 in 2026, while cautioning that under extreme supply-disruption scenarios, prices could spike as high as $120 to $130 per barrel.
The report projects Brent prices to average about $66 per barrel in 2025 as OPEC+ continues to manage supply and Asian demand remains strong.
In a separate September 2025 analysis, JPMorgan emphasized that securing access to critical minerals is now a central pillar of global economic strategy. Competition over lithium, nickel, and rare earth elements is reshaping trade and investment flows, with the U.S. and its allies seeking to reduce dependence on China.
Now, JPMorgan is putting fresh capital on its forecasts, hoping to position itself at the crossroads of energy security and industrial strategy, mirroring the Trump administration’s emphasis on rebuilding domestic capacity across critical sectors.
By Charles Kennedy for Oilprice.com
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