We get it…
As a society – we’re moving closer and closer to renewable energy.
It makes sense…
We understand that there is a finite amount of oil, natural gas and coal – we can’t strip the planet of these resources and expect to survive.
We NEED to move on to cleaner and more renewable sources…
The problem is – the technology doesn’t exist to make that big of a leap yet.
Will it exist someday?
I hope so – and I think we get closer and closer every day…
But for now – we’ve got to use the tried-and-true methods of energy.
Well…
Unless you’re Europe.
You’ll never believe what it hasjust decided to do…
Yes, as much as I may not like the subject – The Gorilla is here to talk about some renewable energy news.
Now, I know what you’re thinking, “What does a stock-picking Gorilla know about energy?”
Well, let me tell you…
I may not have a PhD, but I’m no dumb-dumb.
So, word on the jungle vine is that European lawmakers are getting their green thumbs in a twist and are close to agreeing on an even more ambitious renewable energy target…
A target that to me – sounds pretty bananas.
Now, don’t get me wrong – these guys are really going all out for the planet – and I’m all for it…
But I just don’t know if now is the right time.
Now, as you may know – we, as a society – don’t always agree on everything…
Some like pizza, some like sushi, and don’t even get me started on politics…
But the EU’s bid to go even greener just kicked of a debate for the ages.
The EU’s 2030 renewable energy consumption target is set to rise from 32% to 42.5%…
That’s a 10% increase – which might not sound like much to you – but in the energy world… it’s like climbing Mount Everest without an oxygen tank.
After all – Europe DID surpass their 2020 target (thanks, COVID, for reducing fossil fuel demand) – and let’s not forget, the war in Ukraine has only driven home the importance of having reliable energy on tap…
But why should we care, you ask?
Well… because this is important.
Talk is cheap, folks… the White House recently announced its green vision, declaring that it wants renewables to provide 80% of America’s electricity by 2030.
That’s a pretty big goal – especially since fossil fuels currently account for around 60% of US power…
Talk about swinging for the fences.
Setting unachievable goals means people eventually stop trying…
So, maybe the Europeans have the right approach this time around. Who knows, they might just surprise us all and hit that target.
But the numbers don’t lie…
Researchers at Stanford University estimate that a whopping $62 trillion – with a capital T – is needed to transition the world to renewable energy.
Trying to fund such an immense project would require either massive debt or some sort of bumper green taxes…
Still, Stanford’s experts think the super-cheap energy we’d be bringing in would mean we’d recoup the investment in under six years.
Is it finally time?
Well, I don’t know, I am just a gorilla, you know…
But let’s hope Europe comes through – it could be the model that brings our world to better place – and puts money in our pocket.
You can BET that I’ll be keeping my eye on this sector…
But of course, we have to wait to see what the GorillaTrades matrix says.
That’s what makes trading easy…
You don’t have to think – you just have figure out if you want to pull the trigger or not.
That’s what makes GorillaTrades so easy to use…
We’d love for you to be there for the next round of picks – but understand if you’d rather go it alone.
Either way – keep your eye on green energy – it could be heating up over the coming months and years.
Until next time…
“I’d put my money on the sun and solar energy. What a source of power! I hope we don’t have to wait until oil and coal run out before we tackle that.” – Thomas A. Edison
