RE:Chart sure looks like a CUP AND HANDLE!!Energy Transition Fad Will Send Oil Sky High By Irina Slav - Jun 16, 2021, 4:00 PM CDT Ironically, the wave of ESG investing in global energy markets may lead to much higher oil prices as a serious lack of capital expenditure on new fossil fuels dries up just as demand for crude continues to grow Pressure from investors, tighter emissions regulation from governments, and public protests against their business have become more or less the new normal for oil companies. What the worldor at least the most affluent parts of itseem to want from the oil industry is to stop being the oil industry. Many investors are buying into this pressure. ESG investing is all the rage, and sustainable ETFs are popping up like mushrooms after a rain. But some investors are taking a different approach. They are betting on oil. Because what many in the pressure camp seem to underestimate is the fact that the supply of oil is not the only element of the oil equation. Imagine Shell decided to stop selling petrol and diesel today, the supermajors CEO Ben van Beurden wrote in a LinkedIn post earlier this month. This would certainly cut Shells carbon emissions. But it would not help the world one bit. Demand for fuel would not change. People would fill up their cars and delivery trucks at other service stations. Van Beurden was commenting on a Dutch courts ruling that environmentalists hailed as a landmark decision, ordering Shell to reduce its emissions footprint by 45 percent from 2019 levels by 2030.