"The military conflict between the United States, Israel, and Iran has closed the Strait of Hormuz, the narrow waterway through which roughly 20% of the global oil supply normally passes. WTI crude, which was trading around $65 per barrel in late February, spiked to over $100 today."
"When clean energy becomes cheaper to produce and operate than fossil fuels, the companies building that infrastructure grow their revenues. Higher oil prices accelerate that crossover."
"The argument for clean energy softened into a purely ideological one. That era is now over. This is no longer an ESG debate. It is an economic argument, and clean energy is winning it."
The 1973 Arab oil embargo prompted significant investments in renewable energy, establishing efficiency standards and prioritizing energy independence. Recent geopolitical conflicts have closed the Strait of Hormuz, causing oil prices to surge above $100 per barrel. This situation has shifted the clean energy debate from ideological to economic, with clean energy becoming more competitive as oil prices rise. The Fidelity Clean Energy ETF tracks companies focused on clean energy, benefiting from the increasing demand and revenue growth as clean energy becomes cheaper than fossil fuels.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]