Energy industry

The Internal Revenue Service issued answers to frequently asked questions about the soon-to-expire tax credits for solar and wind power and electric vehicles.

The Trump administration tightened long-standing eligibility requirements for clean energy tax credits.

Although no Republicans voted for the measure two years ago, some of its incentives, such as tax credits for producing hydrogen and capturing carbon dioxide, are very popular with oil companies and other core GOP constituencies.

Fund managers are betting that nuclear energy, an area traditionally off-bounds for investors with environmental mandates, is set to make a comeback.

The Treasury and the IRS issued laid out possible regs to update the investment tax credit rules to encompass various forms of renewable energy.

One word: energy.

Just one of the leading 20 mutual funds and exchange-traded products eked out a gain this past decade.

The 20 funds in this ranking carried an average expense ratio of more than twice the broader industry.

The biggest losses this year came from sectors that suffered the most in lockdown.

A State Street fund avoiding crude holdings has beaten the S&P 500 by 3.6 percentage points since its inception, generating an annual return of 12.9%.

It’s the latest dramatic twist in the story of USO, which was at the center of the storm as crude prices plunged earlier this year.

If clients “looked just three months ago, these numbers would be glaringly different,” an expert says.

The $4.9 billion fund has come under close scrutiny as crude’s rapid plunge forced it to quickly shift some of its giant positions on short notice.

The $4.64 billion fund lost 75% of its value in two months.

Analysis of two funds in particular shows how important the industry has become to the oil futures markets, as they have attracted record inflows.

The bank says it has decided to “effectively eliminate the net leverage” of its MLP Income Opportunities Fund and MLP and Energy Renaissance Fund.

Amid a “rapidly increasing” number of ESG-aware clients, planners say the sector must clean up its act to survive.

The yield on Mozambique’s sole dollar bond, due 2023, has fallen almost 5 percentage points this month to 11%.

The SPDR fund recorded its biggest outflow in 18 months as oil fell below $52 a barrel.

The funds carry a fee eight times larger than the 0.08% charged by the least expensive energy ETF run by Fidelity.