GulfSlope Energy Inc (GSPE)

[smith199]

Evidently, BlackRock is looking beyond ESG and is focusing on making a profit. So, they are forgoing investments in renewable energies and putting their money in good old-fashioned oil and gas.

Speaking of renewables, the recent GOM lease sale for offshore wind was a DUD! Compare that to offshore GOM oil and gas lease sales where demand is increasing. The last lease sale generated $251 million compared to offshore Wind in the GOM region at $5.6 million.

Also, recognize that many of these renewable projects are doomed to be unprofitable for investors. Their costs are not competitive to oil and gas. High interest rates will do that to you. Some of these projects are being cancelled before they are even built.

The moral to the story is to be wary of investments in renewables if you want an ROI.

Put that in your pipe and short it.

Link to BlackRock article:

https://www.offshore-energy.biz/report-exxonmobil-selling-majority-stake-in-italy-lng-terminal-to-blackrock/




Mrs. Smith