Nobody is trying to make you believe the oil industry is in trouble. No need. You have the facts on the news:
NextEra Now More Valuable Than Exxon as Clean Power Eclipses Oil
(Bloomberg) – NextEra Energy Inc., the world’s biggest provider of wind and solar energy, is now more valuable than oil giant Exxon Mobil Corp., once the largest public company on Earth.
NextEra ended Wednesday with market value of $145 billion, topping Exxon’s $142 billion. The oil major’s U.S. rival, Chevron Corp., also surpassed it in value for the first time.
The shift reflects a global energy transition that’s embracing clean energy and rejecting fossil fuels. NextEra has emerged as the world’s most valuable utility, largely by betting big on renewables, especially wind. Exxon has seen its fortunes shift in the other direction as electric vehicles become more widespread and the fight against climate change takes on more urgency.