ICLN - Europe takes step toward energy security as Russia threatens supplies

The clean energy debate, as well as industries of the future, has been getting a reality check in recent weeks as crude oil continues to power higher. It's not that the world won't eventually transition to cleaner fuels, but more about how long it will take to get there and securing ample energy supplies in the interim. Years of underinvestment in oil means Western nations are having a tough time ramping up supply, while the cuts to production are coming at a time of soaring fossil fuel demand. Bigger picture: Oil producers are not likely to invest in further supply as they enjoy record high prices that provide their investors with big dividends. Moreover, corporate interests on Wall Street are looking to grow production only modestly due to ESG mandates, activist shareholder proposals and banks avoiding loans to the industry. CEOs of some of the world's largest oil companies even

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Europe takes step toward energy security as Russia threatens supplies