On numbers alone, oil and gas stocks are hard to argue against right now. Crude prices have topped US$90, global supply is tight, demand is strong and years of debt reduction and cost cutting at the company level has the oil patch generating plenty of cash.
There are lots of reputational issues at play, not least of which is the sector’s carbon footprint. In the world of environmental, social and governance, or ESG, investing, the Alberta oil sands continue to be a pariah. In a summer filled with natural disasters and alarming climate-related headlines, the urgency surrounding a global transition away from fossil fuels has only grown.
In this incarnation, some producers could be profitable even if West Texas Intermediate fell to as low as US$50 a barrel. Over the past year, that benchmark has rarely dipped below US$70, and currently sits at more than US$90.
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
Bron: globebusiness - 🏆 31. / 66 Lees verder »