- Shale fracking unleashed a new "era of energy abundance" that decimated margins for oil and gas producers.
- That, combined with the market's shift toward digital data and all its permutations (5G, the cloud, networking, AI, etc.) has led to a boom in technology stocks.
- As a result of these twin factors, oil and gas producers have been left for dead, and companies like BP, Shell, and Equinor have begun to focus on renewable energy.
- But the big investment switch from tech to energy could lead to one last bull market in oil, and it could be a real whopper.
For further details see:
Data Is The New Oil (But Bits And Bytes Can't Fill Your Tank)