[luckylion]

But that's then working as designed, isn't it? You're not limited to investing in Western countries that have deprioritized power production. If that'll lead to worse outcomes, investing in a country that doesn't follow their ideology should get you better returns.

> Most of Europe is actually carrying out those windfall taxes too.

Sure. Don't get me wrong, I think it's stupid. But, and that's a pretty important but, the population has elected the politicians suggesting these things (and the ones before them who made the decisions not to invest in oil and gas and nuclear power), and the population has empowered the journalists (or their companies) running those campaigns. It seems to be what people really, truly want.

You'll just need to set your indicators one level further up. A country that is fundamentally wrong in capital allocation and prefers to bail out citizens and industry via tax money instead of investing into infrastructure will have worse outcomes. Taxes will have to rise at some point, industry will leave etc, so you'd invest in a different country where they're not following the same ideology.

Sure, it would be easier if people didn't do stupid things, but I doubt you'll be able to convince them.