Mar. 8 at 1:23 PM
PickAlpha Weekend:
War-driven oil and gas spikes are reviving ugly 2022 memories for green investors — but Jefferies is telling clients to stay long. The bank says the clean-energy “glory days” call is still intact, even as fossil fuels get a short-term earnings boost, because higher geopolitical risk ultimately pushes governments and hyperscalers to spend more on energy independence, grids, storage and renewables. 
Tickers:
$ICLN $TAN $XLE
Our view is this is short-term bullish for fossil cash flows, long-term bullish for energy security capex. If oil/gas stay elevated for weeks, dirty energy likely leads first; but if governments and AI power buyers respond the way they did after past shocks, clean energy doesn’t get killed by this — it gets a new reason to exist.