The End Of Oil approaches, but the stock market games are just beginning
Buoyed up by investment, UK Oil & Gas wants to drill in search of oil on the Isle of Wight. But what is it really looking for, and will its shareholders ever cash in?
Exacerbated by last year’s COVID oil price crash, oil and gas companies have reached a fork in the road. Some, like BP, Shell and other European firms, are levelling up investment in renewables; BP, for example, is cutting output by one million barrels a day over the next decade and growing renewable output times 20.
Others, including Chevron and ExxonMo…