Peak Oil Is Near, According to the International Energy Agency -- and These 3 Energy Stocks Will Benefit
The International Energy Agency believes oil demand is finally nearing its peak. The global energy advisory expects oil demand to stop rising by 2030 as China's growth slows and more people switch to electric vehicles.
On one hand, that means oil will remain vital for the next several years. However, energy companies can see the writing on the wall, leading many to transition to lower-carbon energy. Enbridge (NYSE: ENB), TotalEnergies (NYSE: TTE), and (NYSE: BP) stand out to a few Fool.com contributors for their energy transition plans. Here's why they believe it makes these energy stocks compelling long-term investments.
Matt DiLallo (Enbridge): Enbridge has been preparing for a lower carbon world. The Canadian oil pipeline giant (Enbridge transports 30% of all the oil produced in North America) has slowly shifted its business mix toward cleaner energy. It has grown its natural gas transmission and distribution businesses and built a renewable energy platform.
Source Fool.com
