In addition, the runway for alternatives to displace oil is several decades long implying at least a decade of further growth in global demand. This macro setting, combined with enormously compelling valuations with oil stocks trading at less than half of historical multiples and 20 per cent-plus free cash flow yields, is a powerful combination.
What if I’m wrong? What if the energy sector continues to be viewed as toxic and somehow an absence of energy exposure is justified in the name of energy wokism? How can energy stocks go up further if there continues to be a broad based buyers’ strike?
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I agree with the article. However the picture you use makes Calgary look like a polluted fog city. It isn’t.