Again and again in many different contexts we hear the expression, “follow the money!” Could it be that this same expression is not only pertinent but also predictable as far as the politics of climate change is concerned?
From the Epoch Times:
“Are we observing the early stages of worldwide resistance against the constraints of net zero policies? Investors are ditching renewable energy faster than any other funds on record.”
From Oct 9 (Reuters) – Investors ditched renewable energy funds at the fastest rate on record in the three months to end-September as cleaner energy shares took a beating from higher interest rates and soaring material costs, which are squeezing profit margins.
Renewable energy funds globally suffered a net outflow of $1.4 billion in the July-September quarter, the biggest ever quarterly outflow, according to LSEG Lipper data.
Again from The Epoch Times:
“The S&P Global Clean Energy Index (.SPGTCLEN), is also down by 30 percent this year with most of the decline occurring since July. This Index comprises major solar and wind power companies and other renewables-related businesses. Yet in contrast, the S&P 500 Energy Index (.SPNY), which is oil and gas-heavy, has increased slightly this year.”
So, if one is following the money, the outlook for solar and wind net zero is not optimistic. Could it be that common sense is beginning to come to the head of the class? Could it be that demonizing fossil fuels is losing its appeal?
My suggestion and hope is to “follow the money!”
10/17/23