Transcript
Hello, everyone, welcome to Wednesday, great day today, S&P 500 was up over 1.7%. And the Clean Energy indexes that we have are up almost 5% each today again leading the way. Let’s talk a little bit about clean energy. So we’re talking about wind and solar and geothermal and biofuels, hydroelectricity. And what we’re trying to do in these, we buy these baskets that produce the the producers, you know, the people that are producing the clean energy, and also all the suppliers, you know, the people making the fuel cells and the turbines and whatnot, too.
And so, I’ve got two reports that I looked at today, one from BlackRock, they talked about how 87 countries currently have a clean energy targets. And the expectation is that $9 trillion will be spent on this new, clean energy, you know, concept, by 2040, the use of clean energy has quadrupled from 2009 to 2019. Traditional energy is of course, shrinking during this timeframe. And wind and solar is expected to be 50% of power consumption by 2050. And so state streets report talks about how the COVID virus itself has caused a shift. And it’s really kind of interesting, actually. So when we used to go to work, you know, the companies would pay for the energy that we were using at work might have been through rent or whatever it was, now we’re at home, and we’re consuming our own energy. And so home consumers are looking for a more cost efficient measure to to, you know, produce their reduce their bill that they’re that they have for their home consumption.
They also mentioned that the US is on track, for the first year ever, to produce more clean energy usage, then they’re using and coal right now, which is kind of interesting. And so politically, they talked about in this report, if there’s a Democratic sweep, the expectation is that there will be more clean energy spending, including this $2 trillion dollar suggested package that’s been talked about in the past. And I really think that the catalyst to this was California, coming through with their concept of having us all buy electric vehicles by 2035. And that’s when things really started to go. So everything I talked about here is part of the theme. So that’s a very strong theme.
Okay, clean energy seems to have a good future. But it can sit there and do nothing for a long time, which is kind of what happened, actually, up until about May this year, and then it starts to take off. So we want to see that trend on top of theme. And those are both happening right now. And that’s why these are doing so well. So, so almost every portfolio, especially in the IRA side has some form of clean energy in it now. And I’m really happy with that at this point in time. So, look forward to seeing what’s going to happen tomorrow. See if we get some carry through and continue to move forward here. Look forward to talk to you then. Thank you.