Back in 2019 Black Rock started talking abour divesting from fossil fuels, and the usual rabid crowd of climate change activists got on the band wagon and started shaming any other investment companies that didnt follow suit.
The reality was somewhat different. What Black Rock ACTUALLY said was that they were moving awant from any company that made more than 25% of its revenue from Thermal Coal. (See Below)
Since then, The S&P oil and gas explorers index (XOP) has underperformed Oil and Gas Prices by approx 200%......quite a disconnect from the undelying commodity prices. (see below).
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