SUN - Double Down on the Combustion Engine With This High Yielder
There's a big push to switch from carbon fuels to cleaner alternatives, like renewable power. A major piece of the effort is getting more electric vehicles (EVs) on the road. Car makers are getting on board, but even in the best-case scenario the world will need gasoline for decades to come. Sunoco LP (NYSE: SUN) , with a huge 7.6% yield, is a way to play the resilience of the gasoline-powered car.
Carbon dioxide is a greenhouse gas, and one of the larger sources of this gas is the combustion engine that powers most automobiles. With ESG investors fighting hard to reduce the amount of carbon dioxide humans produce, moving away from gasoline cars has been central to the fight. Although news about electric vehicles tends to get a lot of play in the media, in 2020 these vehicles only accounted for 1.7% of U.S. car sales.
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Double Down on the Combustion Engine With This High Yielder