Clean Energy Stocks Decline as Oil Thrives in a Warming World

The earth is currently experiencing evidence of climate change in the forms of heat, drought, flood, and famine. The International Energy Agency urges the reduction of oil, coal, and natural gas consumption to combat severe consequences of global warming. Instead of supporting clean energy companies, the stock market has been devaluing the shares of these companies. Conversely, big oil companies like Exxon and Chevron are increasing their oil reserves with acquisitions. The global stock market is choosing oil companies and showing disregard for clean energy companies. Despite many studies demonstrating the urgency of switching to alternative fuels, the stock market is not heeding these warnings. The returns for renewable energy companies are poor, possibly due to increased cost and decreased consumer enthusiasm. As for big oil companies, profits and revenue are declining, but Exxon and Chevron are continuing to invest in fossil fuels. Although oil’s future is uncertain, the market consensus is that the viability of big oil companies remains strong. The stock market does not give an ultimate view of the future, and the opinions of investors are not unanimous.