oilprice.com A. Khimani 22.10.24 said (Note: This article was...

oilprice.com A. Khimani 22.10.24 said (Note: This article was written before D. Trump's allegedly "renewables -battering" win on 5.11.24!)

• "Bloomberg: smart money is betting heavily against clean energy.
• According to Bloomberg, money managers have concluded that many green investments will not yield returns as quick or as high as they had hoped.
• In the pivotal solar sector, in the third quarter, net shorts outnumbered net longs for 77% of companies".

"Last week, we reported that bearish sentiment in oil markets had sunk to levels last seen during the 2008 global financial crisis...

However, a recent Bloomberg analysis has revealed a more surprising finding: smart money is betting heavily against clean energy while going long fossil fuels. To wit, the $5 trillion hedge fund industry is net long oil, gas and coal but net short batteries, solar, electric vehicles and hydrogen. According to Bloomberg, money managers have concluded that many green investments will not yield returns as quick or as high as they had hoped.

The hedge funds’ bets have been driving a wave of momentum against renewable energy, with the S&P Global Clean Energy Index having lost almost 60% of its value since its 2021 peak, while the S&P Global Oil Index as well as the broad market S&P 500 Index have soared more than 50%.

In the pivotal solar sector, in the third quarter, net shorts outnumbered net longs for 77% of companies, a massive increase compared with just 33% in the first quarter of 2021. Hedge funds are mainly concerned that China's sheer dominance makes it hard for western rivals to gain traction..."

Why Is Smart Money Betting Against Renewable Energy | OilPrice.com