“We are not confident that Shell’s plan to transition to a more renewable and low-carbon business will create competitive advantages, nor that commodity prices will consistently be at levels sufficient to generate excess returns during the next 10 years.”
https://www.morningstar.com/articles/1044343/why-shell-no-longer-has-a-moat?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_stockstrategist&utm_content=30198