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IEEFA
Reuters: New York’s state pension fund is restricting investment in six Canadian oil sands companies because they have not shown they are prepared for a transition to a low-carbon future, the fund’s Comptroller Thomas DiNapoli said on Monday. The New York State Common Retirement Fund will divest more than $7 million in securities already held […]
Press Release, Dennis Wamsted, Seth Feaster and David Schlissel
IEEFA analysts explain why solar, wind and battery storage are poised to push fossil generation off the grid
April 2, 2021 (IEEFA) ⎼ The Institute for Energy Economics and Financial Analysis will host a webinar on Thursday, April 8, 2021 to present findings from its recently released U.S. Power Sector Outlook 2021. Authors Dennis Wamsted, Seth Feaster, and David Schlissel will show how lower-cost wind and solar, coupled with battery storage, is rapidly […]
Press Release, Dennis Wamsted, Seth Feaster and David Schlissel
Coal, gas set to become biggest losers as renewable generation climbs quickly
March 31, 2021 (IEEFA) — The speed and scope of the energy transition to renewables will pick up pace over the next two to three years, according to the Institute for Energy Economics and Financial Analysis’ U.S. Power Sector Outlook 2021. Solar and battery storage adoption is enjoying almost exponential growth, and wind and solar […]
IEEFA
Bloomberg: Ovintiv Inc., the shale oil producer recently pressed by an activist investor to cut its debt load, agreed to sell drilling rights in South Texas to Validus Energy for $880 million. The price tag is less than one-third of the $3.1 billion Ovintiv paid Freeport-McMoRan Copper & Gold Inc. in 2014 to acquire the […]
Press Release, Clark Williams-Derry, Trey Cowan and Ashish Solanki
Beleaguered fracking sector generates $1.8 billion cash flow, but only after $20 billion cuts in capex
March 24, 2021 (IEEFA)—A cross-section of 30 shale oil and gas producers marked the first full year of positive free cash flows since the fracking boom began—but only after deep cuts to capital expenditures that raise troubling questions about the industry’s future. The report by the Institute for Energy Economics and Financial Analysis (IEEFA) found […]
Press Release, Tom Sanzillo and Suzanne Mattei
IEEFA finds significant financial, market, regulatory and political risks for multibillion-dollar ‘Sunshine Project’ in Louisiana’s ‘Cancer Alley’
March 23, 2021 (IEEFA) ⎼ A report released today by the Institute for Energy Economics and Financial Analysis (IEEFA) details the financial, legal, social and public opposition risks of Taiwan-based Formosa Plastics Group’s proposed petrochemical complex in St. James Parish, Louisiana. IEEFA finds that the project will begin operations at a time of market oversupply, […]
Tom Sanzillo
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms, BlackRock and Meketa, have separately concluded that investment funds have experienced no negative financial impacts from divesting from fossil fuels. In fact, they found evidence of modest improvement in fund return, according to draft reports undertaken at the request of New York City’s comptroller on behalf of three of the […]
IEEFA
Bloomberg: Investing in renewable power stocks beat a fossil fuel-focused strategy by more than threefold in the last decade. Superior returns from green power could help push investors to provide the capital necessary to scale up low-carbon power sources in the coming years, according to the analysis by the International Energy Agency and Imperial College […]
IEEFA
Associated Press: For the first time, a federal energy board is weighing how a proposed natural gas pipeline would affect greenhouse gas emissions, one of several steps taken this week by the Biden administration in its effort to slow climate change. With a new Democratic chair at the helm, the Federal Energy Regulatory Commission voted […]
Tom Sanzillo
Deal raises questions for ExxonMobil shareholders, Guyanese citizens
Last week, IHS Markit released an updated analysis of ExxonMobil’s progress in Guyana that projected significant oil and cash flow from the Yellowtail phase of development. The announcement is one of several upbeat reports about the progress of oil and gas development in Guyana. Buried in this optimistic assessment was an important insight: The company’s […]
IEEFA U.S.: Energy transition to renewables likely to accelerate over next two to three years
Coal, gas set to become biggest losers as renewable generation climbs quicklyMarch 31, 2021 (IEEFA) — The speed and scope of the energy transition to renewables will pick up pace over the next two to three years, according to the Institute for Energy Economics and Financial Analysis’ U.S. Power Sector Outlook 2021. Solar and battery storage adoption is enjoying almost exponential growth, and wind and solar […]