The California Air Resources Board voted to ban sales of gasoline-powered vehicles by 2035, and targets minimum electric vehicle market share of 35 percent by 2026 and 68 percent by 2030. And 17 other states will likely follow suit.
Strong regulated utilities combined with long-term contracted renewable energy generation: That’s the NextEra Energy (NYSE: NEE) business model. And not only does the formula work well, it’s become quite popular with investors.
From all indications, 2020 has been the worst wildfire season in California’s history. And the state is hardly alone in its misery, as an unprecedented combination of wind gusts and dry conditions have also inflicted record damages throughout the West and Rocky Mountain states.
Elections always have consequences. They’re just rarely what investors think they will be—and almost never what’s declared beforehand in popular investment media.
Is the world’s economic cup half empty or full? With the fog of the November election campaign season fully descended, politics is affecting how many are answering that question.
Elections have consequences, especially for highly regulated industries like electric utilities. And a prospective Biden Administration could actually get most of the way to its energy goals because utilities are already quickly moving in this direction.
It’s been a little more than 141 years since Thomas Edison threw the first switch on his famous light bulb. What at one time were literally thousands of electric operating companies have merged into just a few dozen of consequence. And not one deal failed to create a financially stronger utility, a record no other industry can match.
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