It's No Secret That Chevron Is Building a Potentially Monster Growth Engine
(NYSE: CVX) rakes in billions of dollars each year producing fossil fuels. It's investing a massive amount of money to remain a global oil and gas market leader. That's because the oil giant believes carbon-based energy will remain vital in fueling the global economy in the decades ahead.
However, Chevron has also made it no secret that it believes lower-carbon energy is the future. That's driving increased investments in building a lower-carbon growth engine. Given the potentially massive size of the lower-carbon energy market in the decades ahead, these investments could pay big dividends for shareholders.
Chevron is investing $10 billion through 2028 on lower-carbon projects. On the one hand, that's a drop in the bucket compared to its fossil fuel investments. For example, Chevron expects to invest about $14 billion this year in maintaining and expanding its fossil fuels businesses. On top of that, the oil giant has agreed to spend $60 billion to buy fellow oil producer Hess to further enhance its ability to grow its oil production.
Source Fool.com
Chevron Corp. Aktie
Die Aktie ist derzeit ein absoluter Favorit unserer Community mit 26 Buy-Einschätzungen und keiner einzigen Sell-Einschätzung.
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