Originally Posted by SlowTeg

Capex on oil/gas/natural resources has been severely lacking as everyone thinks we're gonna be driving all electric cars in 3 years and everything will be powered off the sun/wind (it obviously isn't gonna happen). People say "oil companies are making a fortune." Yes and no. They took a beating in 2020 and are getting back on their feet. They have no incentive to increase production and the normal market forces are absent (lower valuations/harder to get financing) thanks to ESG nonsense. I'm all for green technologies, but we do a lot of talking about being green without any action. Fossil fuels will be around for a very long time.

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