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What should our electricity future look like? The February winter storm that devastated the State of Texas was damaging for a myriad of reasons. Not only did the storm cost hundreds of lives and left millions without water, heat, or electricity, but when the dust settles it is anticipated to be the most expensive disaster to ever hit Texas. Hurricane Harvey, which cost the state over $125 billion due to its devastation of the Houston area, will likely be eclipsed by the damage done by this one unseasonably freezing week of winter weather, with some estimates exceeding $200 billion[1]. In the early stages of the storm, the news cycle was dominated by fingers pointing blame at natural gas and wind turbines, questioning their reliability as power sources. While it was unfair to use either as a scapegoat, it called into question a larger issue: what should the future of electricity in the United States (as well as other parts of the world) look like? ....
March 17, 2021 The growing popularity of socially responsible investment funds has been a positive for the issuers that offer these types of products. Exchange traded funds that track the socially responsible investment theme come come with 43% higher fees than widely popular beta index funds, the Wall Street Journal reports. According to FactSet data, the average fee on environmental, social, and governance funds was 0.2% as of the end of 2020. In comparison, ETFs that invest in U.S. large-cap stocks come with a 0.14% average fee, and some ETFs on the market even have zero fees or a 0.00% annual expense ratio. “ESG creates a fantastic revenue possibility for large firms,” Dr. Wayne Winegarden, a senior fellow at the Pacific Research Institute, told the WSJ. ....