The Rockefeller Family Fund Thinks Investing in Oil Is a Mistake.

The Rockefeller Family fund recently announced its intention to divest from fossil fuels. Why does the Rockefeller fund want to divest, and is there an investment case for fossil fuel stocks for buy-and-hold investors?

The Rockefeller name is synonymous with oil. John D. Rockefeller founded Standard Oil more than a century ago, making him at a time the richest man in the world. Standard Oil eventually gave birth to large parts of ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), and ConocoPhillips (NYSE: COP), which are three of the largest energy companies in the world today.

While the original Rockefeller made his fortune from oil, the Rockefeller Family Fund, which is a fund the Rockefeller family created, has evidently moved on. The fund recently said in no uncertain terms that it makes little financial sense to continue holding fossil-fuel companies. Given the statement, is holding fossil-fuel companies a mistake? 

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