The developed world is working to carve out an energy future that isn't reliant on Russian oil and gas or on Chinese solar panels. Camilla Hodgson reports in the Financial Times: Solar power is undergoing a boom as the energy crisis drives a shift to renewable energy following the war in Ukraine and is expected to surpass coal power by 2027, the International Energy Agency has forecast. Renewable energy overall will become the largest source of global electricity generation by early 2025, the IEA said, and the world will add twice as much renewable capacity from 2022 to 2027 as in the … [Read more...]
Archives for December 2022
SPAC-TACULAR COLLAPSE: Billions in SPAC Deals Disappear
You've read that Your Survival Guy doesn't invest in SPACs. The problem is that you invest, and they win. You take on risk, and the founders reap the rewards. Now investors in some well-known SPACs are suffering the consequences. Bailey Lipschultz reports on the recent SPAC failures, writing for Bloomberg: One of the SPAC industry’s most well-known sponsors and a would-be serial backer have seen deals worth $10.6 billion go up in smoke in less than an hour. Alec Gores, one of the most well-respected sponsors, said Monday that Gores Holdings VIII Inc. would not be merging with materials … [Read more...]
ESG, Richard Young, Jack Bogle, and You
Vanguard, one of America's largest mutual fund companies, is, according to Will Hild in The Wall Street Journal, violating an agreement with the Federal Energy Regulatory Commission (FERC) by meddling in the affairs of regulated utilities with its ESG policies. Hild writes: Americans are paying sky-high electricity rates and companies like Vanguard are making the problem worse. This week my organization, Consumers’ Research, joined 13 state attorneys general in a complaint against Vanguard at the Federal Energy Regulatory Commission. With more than $7 trillion in assets under management, … [Read more...]
Is LNG the New Strategic Asset?
The war in Ukraine has given rise to massive new demand for LNG by European countries seeking to replace Russian imports of natural gas. The world has been witness to LNG becoming what appears to be a new strategic asset. Japan, a country that relies heavily on LNG, is considering building its own LNG strategic reserve. Bloomberg's Shoko Oda and Tsuyoshi Inajima report: Japan is considering setting up a strategic reserve of liquefied natural gas, as the imports-dependent nation ramps up efforts to make sure it has enough of the fuel amid intensifying competition. The government will … [Read more...]
Florida Dumps BlackRock in Fight Against ESG
You have watched state after state push back on ESG investing as money managers use their power over the funds to pursue increasingly political ends. Florida has now joined others in pulling money out of funds at BlackRock, the money manager best known for doggedly pursuing its green agenda using ESG fund power. Angel Au-Yeung reports for The Wall Street Journal: The backlash continues for BlackRock, the world’s largest asset manager. Florida Chief Financial Officer Jimmy Patronis announced Thursday that the state’s treasury would begin pulling out $2 billion of assets that are currently … [Read more...]
Successful GOP Governor Explains the Party’s Failure to Take the Senate
There have already been many postmortems of the 2022 midterm elections, but this one from New Hampshire's successful governor Chris Sununu, who was just reelected to his fourth term as the chief executive of the Live Free or Die state, has an idea about why GOP efforts fell short of initial expectations. He recently told an interviewer: As for why his party was far less successful than anyone had anticipated, Sununu was candid. “People just didn’t have any faith that the Republicans running for the federal seats were going to be the ones to fix the policies like inflation concerns that were … [Read more...]
Democrats Don’t Want You to Read about the Crime in Their Cities
You have read here many times about the crime plaguing America's big blue cities. That crime has driven many big city residents to look for a better America in places like Florida, Texas, and other states where politicians care more about citizens than they do about criminals. The states and cities where Democrats appear to govern with the best interests of criminals in mind have watched as hard working residents have fled in droves. So it isn't surprising to read in the NY Post that Democrats are attacking news outlets that report on their failures. The Post's editorial board writes: The … [Read more...]
Fidelity Joins Companies Converting Mutual Funds to ETFs and Lowering Fees
Fidelity has announced that it will convert six of its mutual funds into exchange traded funds (ETFs), joining other mutual fund companies in a growing trend. The ETFs will come with lower fees for customers. Sonya Swink reports for the Financial Times: Fidelity plans to convert a set of six “disruptive technologies” mutual funds to exchange traded funds next June, the firm has disclosed. These will be the first mutual funds that Fidelity will turn into ETFs, a company spokesperson said. The $96mn Fidelity Disruptors, $91mn Fidelity Disruptive Automotive, $80mn Fidelity Disruptive … [Read more...]
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