Green energy stocks have had a brutal few months while oil and gas tick up

Green energy stocks and indexes have performed poorly so far this year, while fossil fuel stocks have generally seen their value increase, according to a report by the Financial Times.

The S&P Global Clean Energy Index, composed of 100 of the largest companies related to solar, wind, and other green technologies, has seen 20% of its value disappear in the last two months as inflation and higher interest rates have driven up costs, according to the FT. Despite receiving tens of billions of dollars in government subsidies via legislation like the Inflation Reduction Act, many of the West’s green energy companies appear to be significantly underperforming the fossil fuel energy sector.

While the Global Clean Energy Index has lost significant value, the S&P 500 Energy Index, which is made up of many oil and gas companies, is up 6% in the same time period, according to the FT. The Global Clean Energy Index is on track for its worst annual performance since 2013.

A reporter asked Kamala Harris how a family was supposed to get relief from the Inflation Reduction Act “if they don’t have the initial money” to spend on their green energy solutions.

Her response: “Well we think about the costs of things in totality.” pic.twitter.com/Vn5GKv8XdP

— Daily Caller (@DailyCaller) September 14, 2022

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