The financial case for investing in fossil fuels is losing ground as the powerful oil and gas industry continues its steady decline, according to the Institute for Energy Economics and Financial Analysis (IEEFA). In a briefing note released Feb. 6, Fossil Fuel Investments: Looking Backwards May Prove Costly to Investors in Today’s Market, IEEFA analysts concluded that investing in the fossil fuel sector no longer made sense in light of its last-in-class S&P position in 2018, a decade of lagging stock market performance, fewer institutional investors, depressed profits and a weak outlook.
Read MoreAdvances in clean energy expected to cause a sudden drop in demand for fossil fuels, leaving companies with trillions in stranded assets.
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