Posted on 11/08/2023 4:55:34 AM PST by george76
Shark Tank” star Kevin O’Leary said Tuesday that clean energy funds and stocks are dropping because investors realized that clean energy companies can not make a profit.
Several stocks and exchange-traded funds in the “clean energy” sector, including Enphase Energy, the Invesco Solar ETF, the iShares Global Clean Energy ETF and the First Trust Global Wind Energy ETF have seen substantial drops in their share prices in the last year. ..
Joe Biden signed the Inflation Reduction Act, spends $370 billion to combat climate change and is loaded with green energy provisions, including a $7,500 tax credit for electric vehicles, into law in August 2022.
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These companies don’t make any money and they don’t make any money because the cost of these technologies has not yet gotten to where they, they require government subsidies to work,” O’Leary
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The last 12 months people have figured out the transmission costs, the cable, actually wind in this country is not where people are, so you have to build transmission lines, which cost billions of dollars. Somebody has to pay for that.”
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an additional subsidy beyond what we’ve already paid for.
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In one instance showing issues caused by the push for clean energy, California advised electric vehicle owners to not charge their vehicles between 4 p.m. and 9 p.m. in August 2022 due to a heat wave that posed a risk of blackouts.
“I think they’ll go down more,” O’Leary said about the clean energy funds and stocks.
They don’t need to make a profit if they are part of a communal economy.
I’ve recently sold several stocks including Honeywell because they’ve gone full ESG/DEI. The companies that do this have one thing in common, their stock values either go down or go nowhere positive. They are no longer in business to make a profit. If they’re making a profit than they’re not virtue signaling hard enough and will face criticism for destroying the Earth or whatever. The funds all had precisely 30% of their investments in losing ESG/DEI investments. I’m hoping that there will be massive lawsuits as these companies have abandoned their fiduciary responsibility to the investors. Until that happens research the ESG/DEI policies of any investment. Honeywell said they were giving “loans” to green energy enterprises. None of those will ever turn a profit because they aren’t supposed to. Profit is evil, don’tyaknow?
> They don’t need to make a profit if they are part of a communal economy. <
You do have a point. After all, Stalin’s steel factories didn’t make a profit. Didn’t matter.
Onward the green revolution! (I guess.)
We can’t say we haven’t been warned. Life isn’t as entertaining as books/movies (and we can fast forward to the end)
Honeywell was woke from the late 80’s onward. I know I worked there.
The problem we have is that Blackrock, Vanguard and the like are all in on ESG/DEI, and they control so much wealth that it affects stock prices greatly, regardless of return. For now. But eventually, the Gods of the Copybook Headings will prevail.
Somewhere in there didn’t Honeywell go bust, and basically they got bought out by Allied Signal for the name?
People who believe green energy is workable are likely to also believe that planting a garden on Mars, tho not in a greenhouse, will work.
If you want a real laugh, read the chapter in the new Isaacsan biography about Elon Musk. Especially the chapter about when he walked in to the Twitter office as an owner, carrying a sink…. As in “let that sink in”. :-)
Twitter offered free food, signs over each bathroom that said “sexual diversity welcomed here”, had swag t-shirts that said “stay woke”. Everyone got a free day off every month as a “Psychological Day”. They prided their workplace as “comfortable” and “safe”. Lol
That’s how Elon was able to cut 80% of the work staff while still improving the product.
Correct. Blackrock votes the millions of shares of the funds that they manage. And CEO Larry Fink has been forcing ESG and DEI on companies this way.
The pre-Elon Twitter looked more like a resort for its employees than it did a workplace.
I could have told you that these stocks would not work in the beginning and I am no stock expert.
You overlook the very important fact that there are numerous entities with money to invest that are required by their members to invest in green energy companies.
Go Pack
(grandson looking carefully at NCSU)
THIS is one of the reasons we have inflation, wasted money on worthless programs. This money may as well have been thrown out the window, it would have benefited more people. Instead it is another wealth transfer to the pockets of the promoters.
In just California it would cost $500 billion+ to build enough charging stations (like gas stations) let alone the cost of the new power lines and you have to have nuclear, natural gas, coal, hydro as backup as solar and wind are very unreliable. So the cost of 2 power plants and power lines and charging stations = extremely high electric bills. Now add in the 45 minute charging times or more.
See: This Is Yet Another Piece Of Evidence That Electric Vehicles Just Aren’t Working Out
https://freerepublic.com/focus/f-chat/4195386/posts
At least 7 charging and about 14 cars in line waiting.
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