Oil and gas stocks to keep allure for some time despite devastating UN climate report

Recent warnings that the world must wean itself off fossil fuels, and fast, have had little effect on the stock prices of energy companies.

Shares of energy companies ended the week little changed after the UN's alarming climate change report. File picture.

The sobering UN-backed report on global warming last week prompted a lot of hand-wringing from governments and the general public about fossil fuels. The response from investors in the oil and gas industry? A big shrug.

Shares of energy companies ended the week little changed. Oil prices rebounded from a selloff earlier in the month, despite the warnings that the world must wean itself off fossil fuels, and fast.