But oil also faces a disruptive force: renewable energy. In the coming decades, buying stock of companies in the green energy sector might be a better bet than those focused on oil. Some of our top options are:

  • Brookfield Renewable Partners (NYSE:BEP)
  • First Solar (NASDAQ:FSLR)
  • Clearway Energy (NYSE:CWEN.A)(NYSE:CWEN)

For the past couple of decades, we have seen a steady increase in global energy demand. Experts forecast that the demand for renewable energy will rise in the coming years. Countries like the UK remain bound by the National Climate Act, which requires a 80% greenhouse gas emissions decrease by the year 2050. Approximately $8.5bn will be spent in the UK alone for renewable jobs in the years 2020-2021 (according to OBR).  This means that companies in the renewable energy space could see growth in coming years.