Category: Investment Advisers

Solar just made Banks write off a Solar just made Banks write off a $1 bn. Australian Coal Plant as Worthless; What’s in Your Retirement Portfolio? bn. Australian Coal Plant as Worthless; What’s in Your Retirement Portfolio?

Daniel Mercer at the Australian Broadcasting Company reports that the newest coal-fired power plant in the country, the 10-year-old, nearly $1 bn. USD Bluewater facility, has been written off as worthless by its investors. Southwestern Australia has so much cheap solar energy that the coal plant’s prospects cratered, especially once it faced some supply problems. Mercer reports that financial analysts are predicting that there is going to be a lot of this sort of thing. In fact, if any of you has coal stocks in your retirement portfolio, I’d drop them like a hot potato.

Solar just made Banks write off a Solar just made Banks write off a $1 bn. Australian Coal Plant as Worthless; What’s in Your Retirement Portfolio? bn. Australian Coal Plant as Worthless; What’s in Your Retirement Portfolio?

Largest ever group of global investors call for more action to meet Paris targets | Environment | The Guardian

Coal smokestack

The 414 global investors – which represent US$31 trillion of assets-under-management – say they are deeply concerned about the “ambition gap” that exists between governments’ commitments and what is needed to limit the global temperature increase to well below 2C above pre-industrial levels.

They say that gap is increasing the physical risks from climate change and hampering investors’ ability to properly allocate trillions of dollars needed to support the much-needed transition to a low carbon economy.

They have signed a “Global Investor Statement” to be handed to world leaders this week at the COP24 – the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change in Poland.

via Largest ever group of global investors call for more action to meet Paris targets | Environment | The Guardian

New oil and gas well investment stalls as prices nosedive

Nosediving prices for oil and gas mean investment in new fields, including in Australia, is being held up until profits rebound.

Source: New oil and gas well investment stalls as prices nosedive

As Investment Advisers, The Liberals Make Alan Bond Look Good! LNP Investment Advice C Pyne

money fire

Late last year, I wrote about the Liberals’ criticism of the ANU’s decision to divest itself of shares in fossil fuel companies. As I pointed out, while this was considered “outrageous” by various senior Liberals, the shares being sold had actually been losing value, and apart from anything ethical considerations, it was possibly sound financial sense to sell.

When I’m wrong, I’m happy to admit it. Unfortunately, for those Liberals who I intend to mock mercilessly, this isn’t one of those times. Santos shares have continued to dive and I just noticed this little gem:

Santos shares “worthless” say Credit Suisse.

Now, just last October, Christopher Pyne labelled the ANU’s decision to sell “bizarre” and Jamie Briggs says that he wrote to the Vice-Chancellor  demanding an explanation. Well, I can give Mr Briggs an explanation – the shares are now almost half what they were when they were sold.

Perhaps, that should be one of the Labor Party’s questions in Parliament. Are the Government ministers still critical of the move, or do they now concede that sometimes people in universities might actually know something, even if Andrew Bolt is better placed to lecture us all on climate change. Yes, I know that Bronwyn Bishop would rule it out of order, but it’d be fun to watch.

Just like it was fun to listen to Jamie Briggs tell an ABC interviewer this morning that her question was out of line because, of course Tony Abbott was concerned about the SA bushfires, why he’d commented in response to a question just yesterday, and Mr Briggs believed that he had spoken to the Premier offering whatever help they needed. The Premier’s Office seemed unaware of any such call – perhaps Mr Abbott should have told them who he was.

Here we have the question and response:

Question: And just finally, on the SA bushfires, will there be any assistance package for the people affected?

Abbott:

The standard national disaster relief and recovery arrangements are already in place. We will shortly have a little bit more to say on the Centrelink payments which are often made in circumstances like these. I have been talking regularly to the relevant minister, Michael Keenan, to Minister Jamie Briggs who has the electorate which has been most impacted by these fires.Obviously, Australian summers are prone to fire and flood. It is tragic that we’ve seen, yet again, the ferocity of Mother Nature, but the thing about Australians is that the worst in nature tends to bring out the best in us and that’s what we always see when our emergency services rush to help people in trouble and when communities rally around those people who have lost a very great deal.

Mm, can’t see why people who’ve lost their homes would feel that Tony’s response lacked empathy!

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