A combination of supply cuts and demand increases has helped crude oil prices soar over the past 2½ months. Meanwhile, redlining by banks — more on that later — points to what may turn out to be a special advantage for the largest industry players.
But all the electricity needed for the new electric fleet has to come from somewhere, including power plants that make use of fossil fuels. Oil and natural gas producers will continue to fuel heavy vehicles, aircraft and ships. The Biden administration may try to reverse President Trump’s decision to open up drilling in ANWR. But that doesn’t mean the big banks won’t curtail their lending to oil companies drilling in other areas.
Wall Street’s favorite oil stocks So what does all this to mean to investors? You have the commodities — oil and natural gas — that have come under tremendous pressure. The price of crude oil is less than half of what it was not so long ago. Meanwhile, U.S. shale producers faced long odds against breaking even last year. Looking ahead, the OPEC nations and Russia are motivated to keep pushing prices higher by managing supply.
Just hold some Tesla and SunHydrogen (HYSR) and your year end returns will beat oil by a landslide.
this is terrible news