Big Oil Will Miss the Financial Discipline Imposed by ESG
Bloomberg reports that fossil-fuel investors have profited from the industry’s years in purgatory.
Fossil-fuel investors may come to mourn their years in the wilderness. It’s true that the rise of environmental; social and governance concerns made oil, gas and coal almost un-investable. But, even truer, it drove valuations to bargain levels and imposed a cost discipline and a focus on shareholder returns that are funding today’s dividends. For the brave, Big Oil’s time... ...
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