How to Cope with Oil Anxiety

VIDEO: In the midst of high oil prices and geopolitical issues, there are glimmers of hope for a sustainable future - and your stress levels

Sunniva Kolostyak 20 October, 2022 | 9:32AM
Facebook Twitter LinkedIn



Sunniva Kolostyak: Welcome to Morningstar's Personal Finance Minutes on ESG. Oil is the focal point of the modern world's anxiety of a climate change, geopolitical risk and inflation. Russia's invasion of Ukraine has exposed the West's dependence on fossil fuels and brought a new urgency to the energy transition. It's easy to feel overwhelmed by our dependence on oil and rogue regimes and the impact it's having on the planet. But there are ways to cope with this oil anxiety.

For one, European governments are realizing that where we get our energy from is a key political issue and that well-informed voters will not accept cheaper oil at any price. Fund managers are also responding to investor demand for sustainable funds, and they're launching new sustainable products. Even pension funds are under pressure to make sure their choices align with investors' ethics.

Electric vehicles are here to stay, too. Car makers are reporting record demand ahead of the ban on petrol and diesel car sales at the end of this decade. This has now turned into a race, and Ford is really ramping up efforts to replace Tesla as the biggest EV manufacturer in the world. Plus, oil majors are funding some change to proving that companies like BP and Shell are not immune to outside pressure, either. So, there are some glimmers of hope for the planet.

For Morningstar, I'm Sunniva Kolostyak.

Subscribe to Our Newsletters

Sign Up Here

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Facebook Twitter LinkedIn

About Author

Sunniva Kolostyak

Sunniva Kolostyak  is data journalist for

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures