The Race of Our Lives – GMO Quarterly Letter 04-26-13

Salient to Investors: Jeremy Grantham writes: The world, in its reckless use of resources and natural systems, shows many of the indicators of potential failure that brought down many prior civilizations. However, we have two saving graces that may save us – declining fertility rates and progress in alternative energy.

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U.S. States Turn Against Renewable Energy as Gas Plunges – Bloomberg 04-22-13

Salient to Investors: 16 of the 29 US states requiring utilities to buy renewable energy are considering paring back those mandates after a plunge in natural gas prices. Read the full article at http://www.bloomberg.com/news/2013-04-23/u-s-states-turn-against-renewable-energy-as-gas-plunges.html Click here to receive free and immediate email alerts of the latest forecasts.

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Merkel Losing Allies in $700 Billion Shift to Renewables – Bloomberg 04-05-13

Salient to Investors: Marc Nettelbeck at DZ Bank said the entire energy switch has derailed – the difficulties connecting offshore wind farms to the power grid reduces their profitability and renders the original investment calculations of utilities invalid. Marc Oliver Bettzuege at Cologne University said the offshore expansion in Germany

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Harvard Embracing Fossil Fuel Condemned by Gore on Filthy Lucre – Bloomberg 04-04-13

Salient to Investors: Students at more than 300 campuses, including the eight Ivy League schools, have joined fossil-fuel divestment activist group 350.org demanding that over the next 5 years universities purge their endowments of investments in 200 publicly traded companies with the largest reserves of oil, gas and coal. Scientists

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