Cash flow investment, external funding and the energy transition: Evidence from large US energy firms

• Published in: Energy policy Vol. 181; p. 113720
• Main Authors: Restrepo, Natalia, Uribe, Jorge M.
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01.10.2023
• Subjects: Constrained energy firms; debt; Ecological transition; energy; energy industry; energy policy; External debt; Internal funding; macroeconomics; renewable energy sources; O13; Ecological transition; C22; Internal funding; Constrained energy firms; G32; Q40; External debt

We examine the relationship between cash flow and investment in the US energy sector from 1988 to 2020. Our analysis incorporates firms’ financial constraints and the type of energy production in which they are engaged, distinguishing between brown and green generation. Our findings reveal a positiv...