Big Oil Investors Rethink Their Bets - WSJ - 0 views
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Some big investors and banks are rethinking investments in an oil and gas industry wrestling with uncertain oil demand, government regulation and disruptive technology like electric vehicles.
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government says it will decide this year whether to wind down its $1 trillion sovereign-wealth fund’s investments in the oil and gas sector.
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The trend resembles—on a smaller scale—the early investor movement against the coal industry, which was rocked by an explosion in production of cheap, cleaner-burning natural gas in the U.S. over the past decade.
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U.K., France, China and India have signaled they plan to ban sales of vehicles with traditional combustion engines, undercutting a potential source of crude demand.