As Green Victories Accumulate, Oil Stocks Could Begin to Feel the Pinch

Dan Dicker, Energy contributor for TheStreet, notes with Jim Cramer the recent turn of political pressure and activity against fossil fuels. The recent win of Liberal Justin Trudeau in Canada for Prime Minister means that several oil sands pipeline projects are likely to be slowed if not ended. Meanwhile President Obama has cancelled the remaining two auctions for Alaskan oil leases in the aftermath of the Shell oil failure. Congressional leaders are talking about beginning a probe into Exxon (XOM) private research showing the long-term effects of fossil fuels on climate change, research that Exxon knowingly suppressed. All of these events indicate a political change in the view towards fossil fuels and a tougher and longer road back to profitability for many of them.