Yep. I was in investment banking back when the original wind...

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mrriesq

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04/05/24

17:11

Post #: 73666390
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Originally posted by Lord Bell: ↑

You cannot have a transition to a cleaner environment without coal...Met coal to produce the steel needed for transition and Energy coal for the many utilities generating electric power that are needed for the transition industries to create renewable energy structures.
Now despite all those transitional structures powered by electric power dependent on Coal,Oil and Gas we still have many Superfunds using our money avoiding supporting these critical energy resources ...All Huddling like sheep in a corner ..yes and even the Funds supporting the academics who are driven by this Sheep like Mentality just like the many other funds...You must toe the line ...rather than use the brain.Yes the Green path without thought ..everything non green is bad, bad, bad is the cry!!!! Let's rush to Anything and Everything that's Green and destroy the earnings flow,return on Equity and distributions to Pensioners...it's our duty to go Green!!!!

With my many years in Fund management prior to retirement I have seen many massive stupidities committed by Investment Bankers and Fund Managers from the Internet Bubble to the Sub Prime calamity that almost destroyed the world banking system...and I have lost most of my faith in these so called geniuses of Investment Bankers and Fund Managers.Now we have the rise of the "Dreaded Green Disaster" The balance of economies is being destroyed by "the Green Drive at any cost approach!!!"
Many investments in Green have arguably destroyed the future potential returns of many Funds by misallocated resources and failure to realise the Economic and climate disasters of the high costs of "this Rush to Green" which is not unaccompanied by the "New Forms of Pollution" caused by the intensive mining for Nickel ,Lithium and Silver and the chemical processes required for their purification ..not to mention the enormous costs eventually associated with recycling...
Yes in this world we all know " NOTHING COMES WITHOUT A COST" to our Health,our Environment and our pocket and eventually all three....and many disasters are caused by the Flowers of an hour ...and the rush for a bigger better mouse trap!!!!
All the Best to All

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Yep.

I was in investment banking back when the original wind turbines were being installed, pretty much everyone knew it was money for jam. I transitioned to another area pretty quickly as it didn't sit right with me.

Without a single exception, all of those projects ended up being a complete waste of taxpayers money, and moreover, some of them made the environment worse overall. What was amazing is that nobody ever stopped and decided that enough waste was enough.

Last edited by mrriesq: 04/05/24

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Yep. I was in investment banking back when the original wind...

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Yep. I was in investment banking back when the original wind...

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