RE:RE: ESG COMMENTS!Because they can't compete, and are taking the path of least resistance, which is also a lower standard. I believe they are struggling to stay afloat, and they are going to throw everything they can until something sticks. Unfortunately, they may not survive. Their earnings are beyond dismal, and were I still holding I'd be very concerned and looking for an exit.
For those who bought around 0.30, great, but for anyone who is close to their breakeven I would be looking for a pullback in oil and jumping ship.
Oil and Nat gas have outperformed every other sector and are still cheap equities. Given the supply limitations and solid demand we will see further gains. I got out of this a while back, took a loss, which I could have avoided had I stuck it out a bit longer, but I've done far better in E&Ps.
There's been too much hype around EVs, and while I believe there is a market, people piled in as though there would suddenly be a flood of EVs of all types being bought in huge numbers. There have been decent sales by certain companies, but the valuations are ridiculous, esp when many oil companies have PEs in the single digits, many around 1. Robust earnings, and attention to debt reduction, efficiencies, and profits.
For me it's a no-brainer, but that's what makes a market.