Energy Transition Fad Will Send Oil Sky High

Ironically, the wave of ESG investing in global energy markets may lead to much higher oil prices as a serious lack of capital expenditure on new fossil fuels dries up just as demand for crude continues to grow Pressure from investors, tighter emissions regulation from governments, and public protests against their business have become more or less the new normal for oil companies. What the world—or at least the most affluent parts of it—seem to want from the oil industry is to stop being the oil industry. Many investors are buying…