Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

BlackRock’s Fink Calls for Reliable US Power Grid—Now

Mar 31, 2025 - hartenergy.com
Larry Fink, CEO of BlackRock Inc., emphasizes the urgent need for expanded and reliable power grids in the U.S. and EU, criticizing the slow permitting processes that hinder infrastructure development. He argues for energy pragmatism, highlighting the necessity of dispatchable power sources to meet energy demands, especially for data centers. Fink points out that the lengthy approval times for infrastructure projects, like California's bullet-train project, stifle global investment opportunities and democratization. He advocates for small modular nuclear reactors as a viable solution, contrasting the West's indecision with China's rapid advancements in nuclear power.

BlackRock faces challenges balancing its investments in fossil fuels with shareholder demands for divestment. Despite accusations of boycotting the energy industry, BlackRock maintains significant investments in U.S. energy companies and asserts it does not boycott the sector. However, Texas has decided to exclude BlackRock from managing its school fund due to perceived retreat from oil and gas investments. Fink's letter underscores the importance of infrastructure development for retirement investments, which constitute a significant portion of U.S. stock market capital flows.

Key takeaways:

  • Larry Fink emphasizes the need for expanded and reliable U.S. and EU power grids, advocating for energy pragmatism and faster permitting processes.
  • Fink highlights the importance of dispatchable power sources for reliable energy, especially for data centers, and criticizes the slow infrastructure project approvals in the U.S. and EU.
  • Small modular nuclear reactors (SMRs) are suggested as a promising energy solution, with China advancing rapidly in nuclear power development.
  • BlackRock faces criticism and conflicting pressures regarding its investments in fossil fuels, with some shareholders pushing for divestment while the firm maintains significant investments in the energy sector.
View Full Article

Comments (0)

Be the first to comment!