In the short term, this whole "green energy" thing will (and has) devastate oil and gas companies. It has starved funding to these essential companies and made them un-investable to the big funds because of the whole ESG thing. But make no mistake, the world does and will continue to need increasing amounts of oil (and gas), a lot of people just don't realise this yet. There are no such things as energy "transitions". The world never transitioned away from coal, we just added the use of oil and gas on TOP of our use of coal, as will it be for renewables and even nuclear. They will be used in addition to oil which is absolutely irreplaceable. When the world wakes up and realises this, the price of oil will not be $100, it will be closer to $200 and sentiment towards O&G stocks will be a little different too.
ATS Price at posting:
6.8¢ Sentiment: Hold Disclosure: Held
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