The Anti-Oil Biden-effect is not going to last long. Neither is the Tesla/Battery bubble. Yes, EV's will eventually become more common (post-2030) and drive down demand for petrol, but the reality is that few resources are as useful as oil - it's the feedstock for the vast global chemical industry. Everything from the asphalt roads the EV's will drive on, to every bit of plastic they are made of depends on oil. That's just the Oil side, Santos is increasing its stake in Natural Gas which is the only viable foundation (aside from Nuclear) for the whole renewable energy infrastructure everyone is so desperate to build (when then the sun isn't shinning, the dams run low and the wind is not blowing SOMETHING needs to provide the grid baseload - if coal is too dirty for ya then it's gotta be gas) At the moment the industry and Santos is not in vogue, and that suits me just fine. I picked up a load of $4 shares in March and topping up at sub-$7 is nice too. The company itself is as good as it gets in the business, making plenty of money, even with oil still hovering around $50. Even with a normal covid recovery, the share price will be over $10 this year - double that if things heat up the way I'm guessing they will.
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