Why Fossil Fuels Aren't Dead Yet
The shift toward clean energy is leading some investors to question future demand for fossil fuels -- but contrarians might find that this is the time to invest in the sector. According to BP, 84% of the world's energy needs are still met by fossil fuels, which means that even if usage declines, demand will remain enormous. Clean energy might be the future, but fossil fuels are the present.
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Consider again that fossil fuels still provide 84% of the world's energy needs. All of the world's planes fly on fossil fuel. How long would it take to retire all the current planes and replace them with say, solar-powered planes? How much money would that cost an industry that's already decimated by the pandemic?
Source Fool.com
