https://issuesinsights.com/2024/10/23/what-investors-are-telling-us-about-green-energy/
A little more than a year ago, a New York Times headline proclaimed what so many have said is absolutely, undeniably so: “The Clean Energy Future Is Arriving Faster Than You Think.” Despite the story’s examples that were supposed to buttress the claims, reality tells a different story.
A recent analysis by Bloomberg found that “the fast money on Wall Street has taken a close look at key sectors in the green economy and decided to bet against them.”
“Despite vast green stimulus packages in the U.S., Europe, and China, more hedge funds are on average net short batteries, solar, electric vehicles, and hydrogen than are long those sectors; and more funds are net long fossil fuels than are shorting oil, gas, and coal.”
Hedge fund institutions have concluded, says Bloomberg, that “many climate investments” haven’t posted returns as quickly nor as profitably as they had expected.
Bloomberg’s sources blamed politics, both in the U.S. and abroad.
If so, we say good, because the green energy crusade has been driven solely by Democratic and progressive politics rather than rigorous research and compelling arguments. It’s about time that the skeptical side posted a few victories in trying to stop the wholly unnecessary climate agenda of the left.