Instability in many of the regions supplying oil and gas, coupled with escalating costs in the fossil fuel market, has caused the financial markets to look towards the renewable energy sector. Business sense, as well as an environmental conscience, make this a wise move, writes Joanne Hart.
Chuck Prince has been horribly pilloried for his now infamous “we’re still dancing” comments that came in July, just before the blow up in August. But the fact is that any bank that quit a market ahead of the peak, and any major investment bank that was absent from a key sector at a time of huge build up, would be punished by shareholders for giving up profits.