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I’m dreadful at picking individual stocks, but oil has been such an obvious and profitable play in recent years. Firstly, the prices were hammered down due to
by benjaminwootton 4y ago
I’m dreadful at picking individual stocks, but oil has been such an obvious and profitable play in recent years.
Firstly, the prices were hammered down due to temporary factors such as Covid lockdowns and less travel. That was always going to bounce back given time.
Secondly, ESG has also been well ahead of itself in declaring the end of oil and turning off the taps of investment in infrastructure. That leaves big oil holding the entire market and less on the supply side.
I don’t really find the business, the profits or investment in the industry unethical. Oil isn’t going away for decades, and if we closed down the industry tomorrow we would be back in the stone ages within months.
- piva00 4y ago> I don’t really find the business, the profits or investment in the industry unethical How can you not find the business unethical when they actively lobbied against actions to clean up their fucking mess, knowingly that they were creating a global crisis while doing it? I understand you are looking for profits and you can be egotistical about that but not seeing the whole industry as unethical in their chase of said profits is actively trying to be blissfully ignorant.