I am empathetic to GQG's strategy - seeking energy stocks well placed to transition from fossil fuels to clean energy is appealing.
My concern is as investment is withdrawn from fossil fuel development, initially the cashflow gains might be considerable - at some point many may need to be made redundant - at what cost?
The need for fossil fuels will be compromised by ESG changes, the World will still have sizeable need of fossil fuels - I expect considerable attrition at some point either by M&A or redundancy. Presume it will be a matter of backing the winners!
EV's will erode fossil fuel demand, but not all sectors of consumption.
Ann: FUM as at 28 February 2023, page-13
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