Oil giants made a profit of 56 billion dollars in 3 months, but also received criticism: “Perfect Valhalla for them”

“In good times, the oil companies normally kick up a gear and use their profits to look for new oil. But that is not quite the case this time: in the United States, a number of drilling platforms have been added, but that is more out of the will to remain independent from oil wells.”

If there is any investment, it will be in green energy, such as the market for charging stations for cars, Simonts sees. “But that’s only small beer when you compare that to the billions in profit that the Exxons and Chevrons make of this world.”

But, Simonts concludes, “in the meantime, you have to objectively establish that oil, a product that is not green or renewable, remains an attractive alternative for investors looking for good returns.”

–