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| Pic: Tadeáš Bednarz, via Jo Nova |
"When climate advocates say 'Net Zero,' are they actually referring to how much cash green investors will have left when the last bubble bursts?'RELATED:
"It seems people only wanted renewable energy if they got cheap loans.
"The general US S&P shares index gained 15% this year but The Invesco Solar ETF (Fund) which invests in solar energy stocks around the world — fell by a dire 40%. Even the [ill-named pork barrel subsidy-packed] US 'Inflation Reduction Act' couldn’t save the solar sector. As finances tighten with rising interest rates, apparently solar panel orders are among the first to be cancelled.
"Some of the worst performers in the whole US share market are solar shares ... Solar panels [are] a luxury item. If only solar panels were cheaper, in tough economic times, everyone would want them. [Instead, some headlines:]"This once again demonstrate’s Eric [Worrall]’s Principle of Green Energy – green policies are self limiting. The ultimate backstop on political climate ambition is the catastrophic economic mess green policies cause.
- Solar Stocks Shaken By High Interest Rates And Supply Chain Issues ...
- What happened to solar stocks? Investors ‘pick up the pieces’ after a brutal earnings season ...
- Solar Stocks Still Searching For A Bottom ...
"The high interest rates which are crippling green energy and EV supply chains are largely due to energy price inflation, which is a direct consequence of green obsessed regulatory hostility towards fossil fuel. Green energy policies are directly driving the demise of the green energy industry.
"Personally if I was invested in companies with exposure to this insanity, I’d be calling for the scalp of whichever intellectually challenged executive decided to gamble with my shareholder capital. This crash was inevitable and obvious, it was only the timing of the crash which was uncertain."~ composite quote from Jo Nova and Eric Worrall, from their respective posts 'Solar Stocks crashed in the last quarter too, down 40% so far this year around the world' and 'The Great Green Crash – Solar Down 40%'
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2 comments:
I'm going to partially cross-post this on No Minister.
I covered the recent sharemarket crash of renewable energy companies a couple of weeks ago in More sad news for Unreliable Energy-and its consumers but also took a look at the other of the process where Ford announced that it's losing $62,000 per EV in 2023 3Q and then had their CEO speak on the UAW demands:
“There’s no way we can be sustainable as a company,” says Ford CEO Jim Farley, “if they paid what the UAW is demanding.”
Dude, there’s no way your company is sustainable losing $62k per EV as you transition to all EV’s. Also that article predated the previous one, so lists the 2Q EV loss as $32k per EV. They’re actually going backwards on something already bad and only because, as Fortune magazine out it “Ford expects to bleed $4.5 billion on electric cars this year, but it makes enough on everything else that it might not matter”
FFS.
Oh, and here's video of a wind farm being blown up - because who doesn't like explosions - although I threw in the chart of Wind Farm Installation (Mw) vs Tax Credits over time just for shits and giggles.
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