Wall Street Cuts Oil Cash as Politics Cloud the Forecast

Wall Street Cuts Oil Cash as Politics Cloud the Forecast

Financing for oil and gas projects from the six biggest Wall Street Banks is on the decline, and it is a rather sharp decline. Since the start of this year, funding by banks to the hydrocarbons industry has fallen by a quarter, according to Bloomberg calculations. But it’s not because all the money is going into wind and solar. Wall Street’s top players provided $73 billion in financing to oil, gas, and coal projects since the start of the year.…