Story of the Week: September 2022

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September 24, 2022 - Fossil fuel divestment not on the agenda for AIMCO, CEO Evan Siddall says
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September 24, 2022 - Fossil fuel divestment not on the agenda for AIMCO, CEO Evan Siddall says

Fossil fuel divestment not on the agenda for AIMCO, CEO Evan Siddall says by Jeffrey Jones Appeared in The Globe and Mail on September 21, 2022 Gina's Thoughts Hear, hear AIMCo! "Alberta's public investment manager is not making a net-zero commitment, and selling off fossil-fuel producers is out of the question." AIMCo is trying to balance energy supply and emission reduction in its investment decisions and "divestment from fossil fuels -- still Alberta's dominant industry -- won't be on the agenda." Evan Siddall, CEO of the $168 billion fund does not believe in divestment as a strategy. Like InvestNow, Siddall believes that the key to achieving the balance between energy supply and emission reduction is to invest in the oil and gas sector.
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September 17, 2022 - Oil and gas dominate a new list of the TSX's 30 best performing stocks
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September 17, 2022 - Oil and gas dominate a new list of the TSX's 30 best performing stocks

Oil and gas dominate a new list of the TSX's 30 best performing stocks by Meghan Potkins Appeared in The Financial Post on September 15, 2022 Gina's Thoughts The headline says it all. Fifty percent of the companies (14 producers and one oil field services company) on the newly released TSX30 are in the oil and gas sector. Rising demand and commodity prices and concerns with energy security have driven up share prices in the oil and gas sector. A recent equity research report said Canadian oil-weighted stocks have generated a median return of 40 per cent year-to-date. By comparison, the return of the S&P 500 and S&P/TSX Composite indexes has been -10 per cent and -4 per cent, respectively. Can public sector investment funds like university endowments and pension plans and their divestment decision makers continue to ignore the significant value in the energy space? Investing in the Canadian oil and gas sector means supply that comes from ethical producers, innovation, emissions reductions, and lately, some of the strongest returns on the TSX.
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September 10, 2022 - Why the Energy Transition Will Fail
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September 10, 2022 - Why the Energy Transition Will Fail

Why the Energy Transition Will Fail by James Freeman Appeared in The Wall Street Journal on August 26, 2022 Gina's Thoughts Mr. Freeman writes about a report by The Manhattan Institute's Mark Mills titled "The Energy Transition Delusion: A Reality Reset". Some key takeaways from the article and the report: "Years of hypertrophied rhetoric and trillions of dollars of spending and subsidies on a transition have not significantly changed the energy landscape. Civilization still depends on hydrocarbons for 84% of all energy." Mr. Mills then explains why the global appetite for energy is not heading south: "One can begin with a reality that cannot be blinked away: energy is needed for everything that is fabricated, grown, operated, or moved, not to mention the myriad of products that come from oil." The reasons for investment in oil and gas abound. No other resource does as much as a barrel of oil.
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