OP: Why China's strong commodity imports defy weak economic data
OILPRICE.COM reports: Despite continued weak economic performance, China’s imports of major commodities in the first two ...
Oilprice.com reported on Saturday:
This week saw the release of the latest report from the International Energy Agency, which called for a fast reduction in oil and gas investments and production, embracing alternative energy sources instead to help advance the transition.
Also this week, media picked up another story that makes the ground for the IEA report a bit shaky. The story came from Deutsche Bank and took the form of a statement by a senior executive involved in the lender’s ESG business. The statement: Big Oil stocks should be included in ESG offerings because investors want them.
The IEA’s Fatih Birol called the present day a moment of truth for the oil and gas industry. In fact, transition-related industries are facing their own moment of truth, and investors are aware of it.
“When we think about clean energy, these are business models which are quite new and sensitive to interest rates,” Deutsche Bank’s Markus Mueller, chief investment officer ESG, told Reuters. “Investors are looking for traditional [energy] companies that have capex in renewables… They prefer the transition than to exclusions,” he explained…
The full post is here.
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