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Bargain stocks are increasingly rare, but always desirable. So what can we do in a year that has pushed equity prices to new heights? Well, 2021 is the year of ESG – environmental, social, and governance issues have finally taken their rightful place in investing decisions. This has caused clean energy stocks to soar. It has also caused traditional oil and gas stocks to plummet.
Suncor Energy Inc.’s (TSX:SU)(NYSE:SU) stock price, for example, has plummeted 34% since December 2019.
The ESG movement makes oil and gas stocks like Suncor bargain stocks
I’m 100% for the ESG movement. I was actually for the movement before it was a movement. However, the fact remains, the world will need an abundance of energy to power the next few decades. And this demand will not be satisfied through clean energy alone. In fact, we will need to rely on fossil fuel energy for years to come.
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Canada’s largest oil companies welcomed new tax breaks for carbon capture and storage schemes contained in the federal budget, though clean-tech leaders are concerned Ottawa is focused on “moonshots” rather than immediate actions to reduce emissions.
Finance Minister Chrystia Freeland introduced Canada’s first federal budget in two years on Monday, which contained promises of tax breaks for investments in carbon capture, utilization and storage (CCUS) projects as well as $319 million in funding for research and development in CCUS systems.
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Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.
The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.
Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a
The $247.7 billion fund has its sights set on shale oil and gas companies next.
The $247.7 billion New York State Common Retirement Fund said it will restrict investments in oil sands companies it deems unprepared to “transition to a low-carbon economy,” and will sell off the investments it already has in those kinds of companies.
The fund said it decided to ban investments in oil sands companies because they produce a heavy type of crude oil that is more costly and carbon-intensive than other forms of crude production. The fund currently holds more than $7 million in such securities, but said those “will be sold in a prudent manner and time frame.”