Clean investments in U.S. doing far better than fossil fuel stocks since 2017

first_imgClean investments in U.S. doing far better than fossil fuel stocks since 2017 FacebookTwitterLinkedInEmailPrint分享Bloomberg:Fossil fuel never had a better friend in the White House than Donald Trump. So why, two years into his presidency, are investors favoring public companies devoted to renewable energy and giving the Bronx cheer to the coal, gas and oil crowd?Trump campaigned against the scientific consensus on climate change and promised to repeal any regulation that impeded the exploration, drilling, mining and burning of traditional energy. Since his inauguration on Jan. 24, 2017, he rescinded the Environmental Protection Agency’s Clean Power Plan, the Interior Department’s moratorium on new coal mining on public land, and President Barack Obama’s 2013 climate action plan and 2015 climate mitigation efforts. He withdrew from the Paris agreement signed by 195 countries in 2015, revived construction of the Keystone XL pipeline connecting Canada’s oil sands to Gulf Coast refineries, and increased by 600 percent the public land (not to mention coastal waters) for lease by oil and gas companies.Yet with all of these incentives, fossil fuel is a rare loser in the stock market since Trump took office. And that’s after oil appreciated 15%. The 170 companies in the Russell 3000 Energy Index, most of which engage in oil and gas, are down 12% during the first administration to declare global warming a hoax. The Russell 3000, meanwhile, gained 27% and technology, its best-performing sector, rallied 53%, according to data compiled by Bloomberg.As lucrative as the overall stock market has been for investors during the past two years, clean-technology shares have done even better. The 89 major publicly traded U.S. firms identified by Bloomberg New Energy Finance as deriving at least 10 percent of their revenue from the business of renewable energy, energy efficiency or clean technology have returned 50%since Trump’s first day in the Oval Office.Free-market capitalists seek profits wherever they see the potential for exceptional growth, and they’re reaping a bonanza from the cleanest companies. Ameresco Inc., a firm based in Framingham, Massachusetts that develops renewable-energy projects, almost doubled its value to $15 a share during the Trump presidency. Vivint Solar Inc., a Lehi, Utah-based installer of renewable-energy equipment, appreciated 98%. Cree Inc., the Durham, North Carolina producer of energy-efficient environmental lighting, surged 121%, according to data compiled by Bloomberg.What did traditional energy companies do for their shareholders during the same period with Trump as the cheerleader-in-chief? Irving, Texas-based Exxon Mobil Corp. gained 1%. Kinder Morgan Inc., the pipeline transportation and energy storage company based in Houston, lost 1%. Peabody Energy Corp., based in St. Louis, declined 4% since it was restructured in April 2017, according to data compiled by Bloomberg.More: Trump likes fossil fuels. Investors don’t.last_img read more

MLB hot stove: Padres have offered Manny Machado 8-year deal worth at least $240M, report says

first_imgPadres remain hopeful to land one of the two big fish (Manny seems more likely, with Harper/Phillies heating up). Chisox plus mystery teams the main competition assuming Phils get their top target.— Jon Heyman (@JonHeyman) February 17, 2019The Padres have offered Machado an 8-year deal worth at least $240 million, according to USA Today. The #Padres’ offer to Manny Machado is an 8-year deal worth at least $240 million,with money deferred, rival GMs have been informed this weekend. Still unknown whether he wants to go to SD.— Bob Nightengale (@BNightengale) February 18, 2019The White Sox and a “mystery team” are the Padres top competitors for Machado, according to Fancred Sports. He is expected to accept the best contract offered to him. Related News There was a belief Machado preferred to be east and especially not be on the West Coast. However recent word in Miami circles has been that he’s going to take whatever the best deal is. #padres— Jon Heyman (@JonHeyman) February 17, 2019Machado, who was sent from the Orioles to the Dodgers before the trade deadline, registered a .297/.367/.538 slash line in 162 total games in 2018. He also hit 37 home runs and tallied 107 RBIs. MLB hot stove: Bryce Harper talks ‘intensified’ as Phillies continue front-runner status Machado has made four All-Star teams and won two Gold Glove awards in his seven-year MLB career.The Padres finished 2018 with a 66-96 record and missed the playoffs for a 12th straight season. The Padres still believe they can add a star free agent.San Diego remains “hopeful” about signing Manny Machado, according to a report from Fancred Sports’ Jon Heyman. The team is also interested in Bryce Harper, but the Phillies are the front-runners to land him, the report says.last_img read more