Author Archive: Tom Sanzillo

Director of Financial Analysis Tom Sanzillo has 30 years of experience in public and private finance, including as a first deputy comptroller of New York State, where he held oversight over a $156 billion pension fund and $200 billion in municipal bond programs.

IEEFA: Calls are mounting for a new direction and new chief executive for ExxonMobil

ExxonMobil’s lagging performance points to need for new leadership, new direction

Last week, columnist Chris Tomlinson of the Houston Chronicle contrasted solid shareholder support for a new direction at ExxonMobil with the discordant pronouncements and leadership of the company’s CEO. In the same week, The Coalition United for a Responsible Exxon (CURE)—a group of investors with $2.4 trillion in assets—provided a comprehensive review of the company […]

December 16, 2021 Read More →

IEEFA U.S.: IEEFA submits letter to Puerto Rico Legislature, warns against power plant privatization process

Breaking out of tainted patterns essential to best interests of Puerto Rico

December 13, 2021 (IEEFA) – In a letter to the Puerto Rico Legislature, Tom Sanzillo, Director of Financial Analysis at the Institute for Energy Economics and Financial Analysis, urged the House and Senate to reevaluate the ongoing bidding process to privatize operations of the island’s power plants.  “We have observed the flaws in the privatization […]

and December 13, 2021 Read More →

IEEFA U.S.: IEEFA presenta carta a la Legislatura de Puerto Rico, advierte contra proceso de privatización de centrales eléctricas

Romper con los patrones viciados es esencial para los mejores intereses de Puerto Rico

13 de diciembre de 2021 (IEEFA) – En una carta a la Asamblea Legislativa de Puerto Rico, el director de Análisis Financiero del Instituto de Economía de la Energía y Análisis Financiero, Tom Sanzillo, instó a la Cámara de Representantes y al Senado a reevaluar el proceso de licitación en curso para privatizar las operaciones […]

and December 13, 2021 Read More →

IEEFA Europe: Proposed INEOS cracker plant would oversupply ethylene market

INEOS Project ONE in Antwerp conflicts with EU’s aggressive program to reduce plastics use

December 9, 2021 (IEEFA) — INEOS Group’s proposed Project ONE ethane cracker plant in Antwerp, Belgium, is a risky venture in an already well-supplied market, according to a briefing note by the Institute for Energy Economics and Financial Analysis. If approved, the project would appear to be at odds with the European Union’s aggressive long-term […]

IEEFA: Private equity, part of the fossil fuel problem, can play a role in its solution

Big private equity funds keep building fossil assets while shifting into renewables

How can private equity financing be utilized as a tool for climate solutions? Over the last few weeks, the problem of how private equity (PE) financiers are contributing to some of the worst aspects of climate-destroying investments has become clear at the macro level, with a Private Equity Stakeholder Project report on investments by 10 […]

Op-ed: Puerto Rico electric grid continues to fail residents and ratepayers

Service interruptions and outages continue to plague grid under LUMA Energy management

Commentary by Tom Sanzillo and Alexer Valencia* Recently a Puerto Rico judge found Wayne Stensby, CEO of the private company LUMA Energy that took over operation of Puerto Rico’s electrical grid this summer, in contempt of court and ordered his arrest due to LUMA’s continued refusal to provide information to the Puerto Rico legislature. For […]

November 22, 2021 Read More →

IEEFA: Global oil majors are back in the black—but for how long?

Prolonged high prices weaken economic growth, increase volatility

Third-quarter earnings reports showed that the global oil majors are back in the black. Two questions remain:  Will they stay that way? And how will their new cash be used? The industry model typically looks to price spikes to support new drilling as prices rise. Oil companies put away cash for inevitable price drops and […]

November 1, 2021 Read More →

IEEFA: Divestment, transition from fossil fuels converging to create renewables opportunity

Capital shift from fossil fuels opens window for economic transition

Remarks of Tom Sanzillo, IEEFA’s director of financial analysis, at the launch of a report by Divest-Invest  finding $39.2 trillion in assets have been committed to some form of fossil fuel divestment. The report was a joint effort by IEEFA, Stand.earth, C40 and the Wallace Global Fund. I want to thank you for inviting me […]

October 27, 2021 Read More →

IEEFA U.S.: Essential plastics industry enjoys “fantastic” profits with no regulation

Plastics industry profits soar even in wake of COVID-19, weather-related issues

A recent IEEFA report on plastics pricing and the case for regulation of the industry has been released at a time of market tumult.  Plastic resin producers are boosting prices and enjoying “fantastic” profits. Since last year, polypropylene prices have increased more than 100% and high-density polyethylene, linear low-density polyethylene, and low-density polyethylene are seeing […]

IEEFA U.S.: Skyrocketing plastics prices a major concern for public health, economy

An ‘essential industry’ to the U.S. economy runs in the dark

October 18, 2021 (IEEFA) — Despite its growing importance to the U.S. economy, the nation’s plastics industry remains a heavily concentrated sector taking advantage of an opaque, unregulated price-setting mechanism to bolster profits for major oil and gas companies, as well as plastic producers. The sector, which has increased prices throughout the year, was deemed […]