I am not into green ideology but you have to face reality that while demand for fossil fuels can remain strong going forwards, its once monopolistic driver of activity will be chipped away for sure and as much as people can hate ESG movement, there is no denying in a shift in investment preference away from fossil fuels to greener alternatives.
We have to acknowledge too that if the oil sector implodes due to a derivative implosion, the entire sector would be sold off. Just as gold stocks get sold off regardless of how much money they make because market participants trade according to the direction of the gold price.
What we believe don’t matter, the trade out there is one giant casino. And important to stay on the right side of trade.
