Climate change winds lift Canadian renewable stocks, buffets oil sector

  • 📰 Reuters
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Canadian renewable utility stocks have soared this year as investors bet on a global expansion of cleaner power, abandoning oil and gas stocks that have plummeted due to pandemic travel restrictions.

FILE PHOTO: Windmills generate electricity in the windy rolling foothills of the Rocky Mountains near the town of Pincher Creek, Alberta, September 27, 2010. REUTERS/Todd Korol

“They recognize oil and gas is a sunset sector. It’s not going away anytime soon, but they don’t expect any growth long-term,” said Tim Nash, a Toronto financial planner focusing on sustainable investments. Others, like Innergex and Boralex, have gained more than 30% and 50% respectively even though they lost money last year.

Algonquin, which is both a conventional utility and green energy producer, hopes to strike similar deals with other oil producers who are attracted to renewable power’s falling costs, said Chief Executive Arun Banskota.Such partnerships interest Canadian Natural Resources Ltd, said Tim McKay, president of Canada’s biggest crude producer.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Mercedez Benz are long, they also have a cross over them.

🚨🚨Scam🚨🚨

CNN reporter: Trump will be no more than just an online maniac

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in CA

Canada Canada Latest News, Canada Canada Headlines