Skip to content
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Guardian)   As renewable energy becomes a hot commodity, the S&P warns 13 oil and gas companies a downgrade is in their future   (theguardian.com) divider line
    More: Giggity, ExxonMobil, Petroleum, Royal Dutch Shell, Fossil fuel, Rating agency S&P, Standard Oil, gas companies, notice of a possible downgrade  
•       •       •

323 clicks; posted to Business » on 27 Jan 2021 at 2:42 AM (4 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



8 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2021-01-26 10:03:55 PM  
Really? They "risk downgrades as renewables pick up steam"

I think they knew that when Joe got the nod.
 
2021-01-27 7:08:27 AM  
If renewables received even half the subsidies fossil fuels do, there might even be a future for our species.

Might
 
2021-01-27 7:43:18 AM  
Dream on.  This is entirely due to the long period of low oil prices, which has been largely driven by increased worldwide production.  Once Biden and the Democrats do everything they can to lower US production, prices should go up.  The world will not be moving away from oil for a long time to come.
 
2021-01-27 7:49:38 AM  

State_College_Arsonist: Dream on.  This is entirely due to the long period of low oil prices, which has been largely driven by increased worldwide production.  Once Biden and the Democrats do everything they can to lower US production, prices should go up.  The world will not be moving away from oil for a long time to come.


Renewable energy generated more power than oil last year in Europe. Oil is seeing a slow slide into irrelevence. It is a process taking place over decades... but it is taking place.
 
2021-01-27 8:33:04 AM  
So, what are the renewable "hot commodity" companies? Most that I have looked at seem to still be struggling. I think the subsidies that go to petroleum could be redirected towards renewables. And unless plastics and other base chemicals are going away, neither is petroleum.
 
2021-01-27 8:37:37 AM  
Oil and gas hasn't made enough money over the last year to pay its bonds.  That's what they're talking about.  An investment in an oil and gas major stock with a strong balance sheet would not be a bad investment for the year.  ConocoPhilips looks strong.

But I wouldn't invest beyond 10 years.  Oil has long term headwinds.
 
2021-01-27 8:45:41 AM  
Oil isn't going to die any time (soon) but renewables are skyrocketing.

Liberals invested and pushed them for the environment, despite being super expensive.  Now the technology is far enough along that they (mostly solar) are cheaper than anything else.  So now conservatives are adopting solar and wind en-masse simply because it's cheaper.

Ain't nothing going to stop that momentum.

/And speaking as someone that invested a decent amount in renewable energy companies... they're doing absurdly well in the stock market.
 
2021-01-27 10:22:42 AM  

Rapmaster2000: Oil and gas hasn't made enough money over the last year to pay its bonds.  That's what they're talking about.  An investment in an oil and gas major stock with a strong balance sheet would not be a bad investment for the year.  ConocoPhilips looks strong.

But I wouldn't invest beyond 10 years.  Oil has long term headwinds.


E&Ps that survived last few years are still struggling with the debt from the easy money days. During the fracking boom, investment dollars were pouring into this area faster than oil was pouring out. If your business didn't take advantage of it and scale up as fast as you could, your competitors left you in the dust. You didn't survive if you didn't take it, and with the current price downturn you might not survive if you did.

It's always been cyclical, and probably always will be. Oil & gas have at least two more rallies left, and probably more. Not ready to get on the cart just yet.

As a business owner that depends on fracked wells for my income, I'm just waiting to see if their anti-fracking agenda will kick in soon enough to keep me from having to pay their new tax-the-rich initiatives. They're gonna get us one way or another... probably both. We're not leveraged and can ride out the new landscape easily.
 
Displayed 8 of 8 comments

View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking





On Twitter



  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.