This transition will likely take several more decades to complete. Many companies are taking early steps to participate in the energy transition. Three energy companies positioning themselves to win are Royal Dutch Shell (NYSE: RDS.A)(NYSE: RDS.B), Xcel Energy (NASDAQ: XEL), and NextEra Energy (NYSE: NEE).
American Petroleum Institute CEO Mike Sommers joined Yahoo Finance Live to discuss the energy sector's outlook is under the Biden's administration.
Additionally, ING noted that Shell (LON:RDSa) has lifted force majeure on exports of Forcados crude from Nigeria, a measure which had been in place since Jan. 14, after the pipeline to the Forcados oil terminal was shut due to a leak.