Leigh Goehring and Adam Rozencwajg of the Wall Street research firm G&R Associates are among the latest to point to a bulging bubble. The veteran global commodities experts warn the road to a renewable-powered future will be tougher than anticipated. Worse, they expect it to be littered with over-valued companies and inefficient technologies that fall short of carbon-cutting goals.
“Over the last 12 months, green energy momentum has exploded. Investor euphoria has now reached new heights bordering on mania,” the investment firm wrote in its latest quarterly market commentary.
“Every green energy proposal we have examined relies on the trifecta of wind, solar, and electric vehicles combined with various battery technologies. In recent months, a renewed ‘hydrogen mania’ has broken out as well, which adds a fourth leg to the green energy stool,” they added. “These plans, including the current hydrogen craze, are bound to at best severely disappoint and, at worst, outright fail in what they attempt to accomplish.”