Oil's well for now, renewables can wait a while, says managers

Derek Mitchell, director UK equities ISIS says so-called E&P (exploration and production) companies such as Cairn Energy are better bets at present in the oil sector than the majors. Capable management contrasts with stories of, for example, Shell ‘losing’ billions of barrels of proven reserves, while solid rates of exploratory wells coming good support sharp rises in market capitalisation values. The ISIS Select Trust investment trust, which Mitchell manages, is investing in the belief that demand is continuing to grow globally for oil, while production will lag, causing long-term su...