The Renewable Energy Industrial Index (RENIXX ®World), is composed of the world’s 30 largest renewable energy companies. The 30 companies get the majority of their income from wind, solar, biofuel, geothermal, hydropower or fuel cells. The stock index was set up to allow the shareholder to profit by the expected surge in value of these companies as the green revolution unfolded. Unfortunately for the investors, the stock value which surged, peaked in the 2007 -2008 timeframe, has been a downhill ride since then. The glib promises of the performance of these renewables has not materialized and the Nations that have heavily subsidized these renewables can no longer afford them.
A Washington Times-Community posting authored by Steve Goreham titled “So, how’s your green energy stock doing?” discusses the history of the Index. For instance, in a private meeting, Al Gore impressed the Deutsche Bank Asset Management team causing them to establish the RENIXX and the rest is history. One wonders how many investors have lost money believing that Gore knew some real science. On the other hand, Mr Gore is rumored to have made $200 to 300 million himself selling carbon offsets and his stake in the Chicago Merc’s Carbon Market. He may be weak on science but he knows how to make a buck.
The posting is a good read that I recommend to you. The whole story with the chart of the Index’s rise and fall are in his article. Also he talks of the thirty companies, of which 10 are headquartered in China, 10 in Europe, and 7 in the US. Click here to read his posting.
cbdakota
Climate Change Sanity 
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