Oil Stocks In “Death Knell Phase” According to Stock Market Pundit Jim Cramer

Oil Stocks In “Death Knell Phase” According to Stock Market Pundit Jim Cramer

On Friday, during the show “Squawk Box,” CNBC Market Analyst Jim Cramer compared oil and other fossil fuel stocks to “the stigma attached to investing in tobacco companies” as shares of both Chevron and Exxon both fell in early trading Friday after announcing quarterly results.  And from the Big Ten to the Ivy League, universities are becoming a focus of divestment efforts — student leaders from across the Big Ten Conference last weekend called on their institutions to begin divesting from fossil fuels, representing 500,000 undergraduate students across 14 institutions.

Why This Matters:  We are reaching a point where a consensus of public opinion — particularly young people who are pressuring their elders to change — is that fossil fuel stocks are bad investments, not just bad for their impact on climate change.

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