Energy stocks are once again a hot topic in the investment world right now, thanks to shifting demand forecasts and a continued trend toward renewables. The International Energy Agency (IEA) just reported record oil demand for June, and full-year 2023 demand is also pacing for new highs.
Meanwhile, the green energy transition has been relatively slow, leaving fossil fuels as the market leader - even as states like Texas increasingly rely on alternative energy to help power grids during this summer's brutal heat wave. The Energy Information Administration (EIA) expects that natural gas (NGU23) will remain the dominant fuel for U.S. power generation all the way up until 2035, though renewable energy sources will account for 40% of U.S. electricity generation by 2050 - up from 21% in 2020.
