Author Topic: Addressing climate change  (Read 8225 times)

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Offline TimG

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Re: Addressing climate change
« on: May 18, 2019, 01:42:13 pm »
Apparently some pretty successful investors disagree with you.
And other investors don't:
https://finance.yahoo.com/news/berkshire-invests-suncor-warren-buffett-213210421.html

Quote
We can only guess at Buffett's -- or his portfolio manager's -- true intent when it comes to Suncor. But a position worth nearly $3.8 billion at the current share price is awfully big for a mere short-term flip trade. Based on what we know about Berkshire's investing approach, this looks like a bigger investment in the success of Suncor's quite radical transformation into a lower-cost producer.

Moreover, Suncor is blessed with both strong long-term reserves and production power. Its existing oil sands resources are expected to deplete at a rate of just 1% annually between 2019 and 2023. At 2017 production levels, its current resources should be good for about 36 years. That is a lot of long-term opportunity.

There is money to be made pandering to the prejudices of people like you and Granny so there will always be people talking up their so called "ethical" investing strategy. That does not mean the world has actually changed.
« Last Edit: May 18, 2019, 06:52:26 pm by TimG »