Ryan Stancil,
Editor
Oct. 29, 2021
The climate crisis is the biggest story of the next few decades.
New stories related to it now emerge daily. Policy, action, technology — these related aspects of the space are always changing, so climate always stays in the headlines.
That was especially true over this past week. Two big climate-related things happened yesterday. First, President Biden released a new framework for his revised spending bill. It’s a $1.75 trillion piece of policy that includes $555 billion for clean energy.
The same day, top oil executives appeared before Congress to answer for alleged efforts related to misleading the public about the effects of climate change.
On the first thing, President Biden campaigned on his desire to have America do its part in avoiding the worst effects of climate change. In this revised spending bill, the money allocated to that will go toward transportation, industry, electricity, and agriculture. The language in the bill focuses on incentives instead of punishments with an aim to reduce emissions to below 2005 levels by 2030.
This will be done through an expansion of tax credits for utility-scale and residential clean energy. Those tax credits also include energy transmission and storage, as well as electric vehicles and clean energy manufacturing. (We outline how to profit from that here.)
There are also plans for increased domestic manufacturing around clean energy, creating potentially hundreds of thousands of new jobs.
The President’s spending bill has faced a tough road so far. Aspects of it were challenged by the Republican party, and Democratic party infighting forced other aspects to be dropped and reworked into its current form.
The current version of it, however, appears to have wider support. If passed, it will represent the country’s largest investment in climate ever.
Even if this version dies and lawmakers are forced to go back to the drawing board, it’s a good bet that future versions will still contain large amounts of spending for climate-related projects.
So clean energy’s future looks bright.
Not so for fossil fuels.
As wider use of renewables continued its slow march, the fossil fuel industry came under more criticism. Thursday saw executives from some of the world’s biggest oil companies appear before Congress to answer for a long history of misleading the public about how oil affected the Earth’s climate. They came from the companies you’d expect: ExxonMobil, BP, and Chevron.
No one thinks the oil companies will change their ways based on these hearings, but they do serve as the start of an investigation into whether oil companies have lied to the public. If nothing else, it’s a move that keeps the question in the spotlight and spreads awareness of just what kind of role fossil fuels play in climate change.
The change is coming slowly, but it is coming. As a society, we’re getting rid of fossil fuels and instead looking for a way to meet demand for energy while keeping people safe.
Those in the know realize it can be done with a combination of renewable sources and nuclear power.
The United States is already the world’s largest consumer of nuclear power and demand is only going to grow. That, along with the fact that more countries are warming to the idea of using nuclear as a power source, is why uranium prices have been taking off lately.
Everyone needs it and very few companies can provide it. Those that can may end up being the ExxonMobils and Chevrons of the future.
One small company has the potential to be among the biggest of them.
Before long, its shares are going to get scooped up just like the bigger uranium names have been seeing.
You can take advantage of the investment opportunity today. The trend is only going to grow. The best time to profit from it is now.
Keep your eyes open,
Ryan Stancil
Editor, Daily Profit Cycle