T. A. Gardner
Thread Killer
Yep, what I've been saying for years, wind and solar are major economic losers. Well now, the big energy companies are finding out the hard way, or at least some of them are.
BP invested heavily in renewables, in part forced by the UK government. Their stock value has fallen about 19% in the last 5 years. Shell is up about 15%. Meanwhile, over at US owned Exxon, a company that has eschewed getting into renewables, their stock is up 70%. Oil companies in general have faired much better than energy companies that bet on solar and wind.
www.nytimes.com
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www.pickeringenergypartners.com
This is what invariably happens when you listen to the Left. As Leftist environmental groups and True Believers in the Church of Gorebal Warming see this happening, their solution isn't to find viable economic alternatives, but to call for a push to force people and companies to adopt their chosen solutions. Germany has done exactly that, and their national energy sector is in economic freefall.
BP invested heavily in renewables, in part forced by the UK government. Their stock value has fallen about 19% in the last 5 years. Shell is up about 15%. Meanwhile, over at US owned Exxon, a company that has eschewed getting into renewables, their stock is up 70%. Oil companies in general have faired much better than energy companies that bet on solar and wind.
Why Oil Companies Are Walking Back From Green Energy
As leaders gather for a global climate summit, investors are rewarding oil giants like Exxon Mobil that did not embrace wind and solar.
Dan Pickering speaks on "Why Oil Companies Are Walking Back From Green Energy" | Nov 18, 2024
www.pickeringenergypartners.com
This is what invariably happens when you listen to the Left. As Leftist environmental groups and True Believers in the Church of Gorebal Warming see this happening, their solution isn't to find viable economic alternatives, but to call for a push to force people and companies to adopt their chosen solutions. Germany has done exactly that, and their national energy sector is in economic freefall.