Renewable Energy Group Inc – Best Oil Refining Stocks
Climate change is a topic of global significance. It has the potential to affect every single country on the planet. Therefore, leaders worldwide are engaging in discussions on how to reduce the effects of climate change and move towards a cleaner global economy. The private sector has to play a major role in achieving these large-scale goals. The government alone cannot drive such a massive change. There are companies involved in producing clean energy, delivery of cleaner transport, and other forms of sustainable activities. Even traditional companies are focusing more of their energies on what is known as ESG. ESG stands for environmental, social, and governance. Investors are increasingly asking companies about their ESG initiatives. If you are thinking about creating a list to buy oil and gas stocks, then you might want to think about businesses that can play a role in a world that is less reliant on fossil fuels.
Low Carbon Is the Key
Climate change is believed to be driven by higher amounts of carbon emissions. Conventional sources of energy emit carbon into the atmosphere, which causes problems around the world. So, reducing the carbon footprint is the core issue. You will notice ESG reports of companies talking about the word carbon footprint and carbon emissions for this very reason. Renewable Energy Group specializes in creating low-carbon biofuel. It uses animal fat and waste products as feedstock to create fuel that results in 50-90% lower carbon emissions and has more than five times the energy return ratio. Renewable Energy Group operates refineries across the US to produce biodiesel and is the largest refiner in the country. So, before you look for the best oil refining stocks, consider analyzing companies like Renewable Energy Group.
The daily price chart of Renewable Energy Group shows a base-forming from July 2021 to November 2021. The first days of November saw the price try to break out to a 5-month high, but the move failed. If the price does make its way for a re-test, then a cup and handle pattern will likely be formed. Any breakout from that point may result in a significant move up.