Philip J Fry said:
How high can DVN go? Being up 20% makes me nervous.
As long as BS like below keeps happening, O&G is going higher. Self financing for O&G, I don't think O&G is looking to glut the market with cheap energy. (Thanks Joetatoe)
"Wells Fargo & Co unveiled new targets to reduce greenhouse gas emissions, including goals to reduce the "absolute emissions" related to its financing of companies in the oil and gas sector, an executive said Thursday.
Wells is the latest big U.S. bank to set targets to reduce the emissions it finances through lending, in line with the United Nations-convened Net Zero Banking Alliance.
The bank's interim targets aim to reduce absolute emissions by companies it lends to in the oil and gas sector by 26% by 2030 from 2019 levels, and to reduce portfolio "emissions intensity" - a measure of emissions relative to output - in the power sector by 60% during the same period.
The details, which follow similar targets from rival bank Citigroup Inc, move the bank toward an overall goal of achieving net zero greenhouse gas emissions by 2050."