All three major indexes in the United States enjoyed a big bounce back on Monday, November 26. Unfortunately, the energy-heavy TSX only gained 1 point on the same day. Collapsing oil and gas prices have exacted a heavy toll on Canadian energy stocks. There is hope for some respite ahead of a major OPEC meeting in December, but Canadian officials have made it clear that the Alberta oil patch is in crisis mode right now. Last week I’d discussed the promising trajectory of renewable energy investment across the globe. This current price crisis for oil and gas has many energy investors thinking back to the 2014-2015 price shock. The collapse in oil prices plunged many of the top companies into debt from which they’re climbing out of. Instead of betting on a rebound in the oil and gas sector, investors should look to renewable energy stocks in the last weeks of 2018. Total worldwide energy usage will grow by nearly 40% over the next 20 years, and renewables are stepping in to fill this demand. A report from Bloomberg New Energy Finance forecast that the renewable energy sector will receive $5 trillion worth of investment in new power plants […]
