Published on October 15, 2019 |
by Zachary Shahan
15. October 2019 by Zachary Shahan
According to a report in The Guardian the top banker for fossil fuel companies is JPMorgan Chase. In fact, recent years have provided $ 22.8 billion more in funding than # 2 Citi for large oil, gas and coal companies – $ 75.6 billion versus $ 53.8 billion.
There is a lot of money expecting some money back from the development of oil, gas and coal. For a certain perspective, Tesla's market capital is currently $ 46.2 billion.
By the way, JPMorgan is also a great Wall Street bear on Tesla [TSLA]. Now I am not saying that there is a direct link between JPMorgan's financing arm and the investment analytics arm. I don't suppose without real evidence that they are in cahoots. As one Tesla fan noted, however, JP Morgan & # 39; s Tesla analyst Ryan Brinkman has a very low price target in place for Tesla and an "underweight" rating.
More than anything else, I am curious about the corporate culture at JPMorgan and how the analyst arm relates to the rest of the business. I don't want to make judgments based on unfounded assumptions, but I find it interesting that Fossil Banker # 1 is also one of the most pessimistic companies when it comes to Tesla. Although from time to time I have been known to be naive, my understanding is that Wall Street is not flooded with boy scouts. On the contrary, there is a lot of legal and illegal shady business going on in the world's financial capital. Is it possible JPMorgan analysts know that JPMorgan is very pro-fossil fuels and that it is not wise to have a bullish attitude towards cleantech companies in the company? May be. Maybe not.
However, what is clear is that JPMorgan Chase is in more ways than secretive on dirty energy, not clean energy and electric cars. Take that into consideration when you think about where to knock (really) and what credit cards to use.
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