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With the rise of renewable energy, oil stocks continue to be shunned by many of today’s young investors. Why bet on filthy fossil fuel producers when you can double-down on a more ESG-friendly renewable energy power play? Indeed, it’s tempting to pass up on the oil stocks and dub them as on their way out. Many of today’s top oil producers are slowly ramping down production over time, even amid higher energy prices. From upstream to downstream, many energy firms are dipping their toes in the green energy waters so that they’ll continue to be relevant over the next several decades. Though green energy is cutting into the turf of fossil fuel demand, it’s worth noting that oil isn’t going anywhere anytime soon, especially with the Ukraine-Russia crisis impacting the global oil supply. The transition to renewable energy could take decades. Many firms need 20 years or more to reach carbon neutrality. Indeed, oil will play a critical role in global energy demand for the next half-century. And with that, the energy giants still have plenty of cash-rich days ahead of them. Sure, young ESG investors may not want to touch oil stocks with a barge pole. However, at […]
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