Goldman Sachs Could Earn $200 Million From Polar Vortex Energy Trading

Rhian Hunt, The Motley Fool
·2 min read
Goldman Sachs Could Earn $200 Million From Polar Vortex Energy Trading

During the polar vortex which brought searing cold to much of the U.S. and disastrous conditions to Texas, Goldman Sachs (NYSE: GS) and other big investment banks racked up hundreds of millions of dollars -- on paper -- through energy trading. Goldman is currently sitting on a potential $200 million gold mine thanks to the massive, prolonged intrusion of Arctic air, according to Bloomberg. A Goldman spokesperson, Maeve DuVally, said "as a market-maker and liquidity provider, we were positioned to help our clients manage their risks in that challenging environment," though the assistance also proved very lucrative, at least nominally.