NextEra tops ExxonMobil market capitalization as clean energy transition continues FacebookTwitterLinkedInEmailPrint分享Renew Economy:In yet another sign of the pace of the global energy transition – and the massive switch taking place in the investment community – the market value of [a] company that describes itself as the world’s biggest producer of wind and solar power, US utility NextEra, has overtaken that of what used to be the world’s most valuable company, oil major ExxonMobil.The flip occurred last week, when NextEra overtook ExxonMobil to become the largest energy company in the US by market value. As Forbes reported, an investment in NextEra a decade ago would have delivered to return of 600 per cent, while an investment in ExxonMobil would have returned minus 25 per cent.The shift is as significant as the one the world has seen in the auto industry, with electric vehicle maker Tesla overtaking the biggest car companies in the world in the last year, to the point where it is now valued at more than the next five biggest global car makers combined, despite producing just a fraction of the number of cars.“Epochal,” noted energy commentator Assaad Razzouk. “World’s largest solar and wind power generator has just surpassed ExxonMobil – a byword for Big Oil that was once the world’s biggest public company – in stock market value.”The Financial Times also took a look at the situation. It noted that NextEra reported net profit of $US1.7 billion in the first half of this year and that its wholesale customers had signed up for 14.4 gigawatts worth of renewable capacity, almost triple the amount of two years ago. Over the same period, ExxonMobil reported a loss of $US1.7 billion and found itself kicked off the Dow Jones Industrial Average, the blue-chip stock barometer which attracts institutional investors.[Giles Parkinson]More: World’s biggest wind and solar producer now worth more than ExxonMobil
Western Bureau:Owayne Gordon scored for the second game running to snatch a dramatic 1-1 draw for Montego Bay United (MBU) against Humble Lion at Westpow Park in the Red Stripe Premier League yesterday.Gordon was on target five minutes before the full-time whistle, to dash the hopes of the travelling Humble Lion supporters. His goal erased Kevon Issacs’ 27th-minute strike for Humble Lion.It is the forward’s third goal of the season and a most welcome one at that, as it also keeps last year’s beaten finalists close to the leaders.MBU now join FC Reno on 10 points and second in the 12-team standings, behind Portmore United (12 pts), who returned to winning ways after edging Cavalier SC 1-0.It was a game that MBU could hardly afford to have lost, and when Humble Lion grabbed the lead halfway into the first half, it left Tim Hankinson’s men with a whole lot to do to recover lost ground against the combative style of the Humble Lion players.Defender Cordel Simpson lost the ball in his third to Issacs, and the midfielder cut inside and unleashed a shot through Jacomeno Barrett’s legs for the opener.Although MBU battled to get back into the contest, it took them the remainder of the first half and 40 minutes of the second before Gordon found the equaliser for his club.MBU entered the game on a high after an easy 4-0 victory in midweek over previously unbeaten Cavalier and must have been brimming with confidence, but Humble Lion, for the past two seasons, have been able to hold their own against them.