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Editorial Dept

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2021: The Year Of Renewable Energy

  • Next year, and for the first time in history, renewable energy investment is set to outpace oil and gas investment
  • Gasoline demand appears to be making a V-shaped recovery in the U.S.
  • Global oil demand is bouncing back but still significantly lower than pre-COVID levels

1. Aluminum stocks jump

- “[T]he rally across commodities has gotten ahead of fundamentals with the exception of metals,” Goldman Sachs said in a note.

- Investors owe a great deal of thanks to the Federal Reserve, which has been pumping trillions of dollars into financial markets.

- “A rising (monetary) tide lifts all boats,” Commerzbank said in a note. The bank went on to add that this “would also apply to base metals, almost all of which are up on the back of another massive expansion of liquidity by the US Federal Reserve and the US government’s planned infrastructural programme.”

- That has aluminum prices back up to around $1,600 per ton again.

- However, Commerzbank said that it does not think the enthusiasm is backed up by the data. “[A]luminium stocks in the LME’s warehouses rose more sharply yesterday than at any time in over four weeks,” the bank said on Wednesday. “At 1.62 million tons, they currently find themselves at their highest level in three years.”

- Aluminum inventories are up 67 percent since mid-March.

2. Renewables overtake oil and gas

- Clean tech is expected to drive $1 to $2 trillion in annual investment going forward, and renewable power is expected to become the largest area of spending in the energy industry as soon as 2021, according to a major new report from Goldman Sachs. For the first time in history, renewables…





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