Spiking Energy Prices Could Power Gains for NextEra Energy
Soaring energy prices have consumers and investors scrambling to adjust. Despite the rise, oil production in the U.S. is down 10% from late 2019. While some companies have started to drill again, there is a roughly six- to nine-month lag before supply hits the market according to Clark Williams-Derry, an analyst at the Institute for Energy Economics and Financial Analysis.
So an increase in fossil fuel production is on the horizon. But the recent volatility is likely to push the U.S. even further down the path of renewable energy over the long term. And NextEra Energy (NYSE: NEE) is perfectly positioned for the shift.
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Source Fool.com
