Well Done Greta: Energy Crisis To Send Carbon Emissions To All Time Highs
“I’m not in the transitory-inflation crowd. The private sector is allocating all the money to the fast-growing software, eating-the-world companies. It’s not allocating money to companies that actually make things and provide other kinds of services that people find less exciting, meaning there are shortages of these things now.”
These comments from Greenlight Capital’s founder David Einhorn in a recent RealVision interview, while addressing the broader “transitory vs permanent” inflation debate, are especially apt in describing the transformation taking place in the energy sector where the recent ESG mania has deprived legacy fossil-fuel companies of much needed capital (not just growth capex but also maintenance) which has instead flown to “virtue-signaling” green projects.
