Washington: Shares of groups specializing in renewable energies tumbled on Wednesday at the opening of the New York Stock Exchange, weighed down by Donald Trump's victory, while the oil majors jumped. The Republican candidate, favorable to fossil fuels, promised during his campaign to “drill at all costs” and openly questioned the reality of climate change, going against the energy transition policy initiated by his predecessor Joe Biden.
Around 4:05 p.m. GMT, solar and wind energy giant NextEra Energy released 6,14%.
The leading American solar panel manufacturer First Solar abandoned 13,02%while the specialist in solar panel management software Nextracker declined 8,46%.
Solar energy equipment company Sunnova collapsed (-42,56%).
The company Brookfield Renewable Partners, specializing in renewable energies, lost its share 7,83%.
At the same time, and as expected, the victory of the Republican candidate caused oil stocks to jump: Chevron (+3,04%), ConocoPhilips (+4,50%), ExxonMobil (+1,90%) et EOG Resources (+4,54%) were all gaining ground.
“Any government advancement of green industry“will do”several steps back” with the victory of Donald Trump, estimated Robert Yawger, of Mizuho USA.
An analysis by the specialist media Carbon Brief in March estimated that a Donald Trump victory could lead to the additional emissions, by 2030, of 4 billion tonnes of CO2 equivalent compared to a Democratic government.
This represents the annual emissions of Europe and Japan.
(c) AFP
Commenter ???????? Renewable energy plunges on Wall Street after Trump victory
Community barrel price
