Posted by John Donovan 26 Sept 2023
In a delightful twist of fate, BP and Shell, those champions of environmental responsibility, have seen their stock prices soar like eagles in the past month. And what’s the secret behind this sudden success story, you ask? Well, it’s the good old resurgent oil price, of course! Who would have thought that predictions of the world moving away from fossil fuels were anything more than wishful thinking?
In a striking parallel, BP and Shell now find themselves in the same league as the beloved tobacco stocks, British American Tobacco and Imperial Brands. These companies, much like our oil pals, have faced their fair share of criticism for the delightful consequences of their products. But, lo and behold, the world’s appetite for tobacco hasn’t waned entirely, just like the world’s insatiable thirst for oil.