Chevron's Recently Announced Acquisition Shows Why Investors Don't Have to Panic About Green Energy
U.S.-based Chevron (NYSE: CVX) and ExxonMobil have lagged behind European peers like BP and Shell when it comes to clean energy investment, but there's more to this story than meets the eye. Here's why Chevron's recent acquisition news shows that clean energy fears are probably overblown.
One of the lessons from the current round of geopolitical tensions is that the world isn't ready to jettison carbon fuels. They're integral to the global economy, and existing clean energy infrastructure isn't developed enough to replace oil, natural gas, and the products into which they get turned. In fact, demand for carbon fuels is likely to keep growing for at least another decade or two.
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Source Fool.com
