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Oil prices have bounced back big time and with them the prices on oil stocks. I still think the long-term trend is against oil producers as efforts to combat global warming lead to lower consumption of fossil fuels.

Equinor (EQNR), Norway’s state oil company, has an aggressive program to move the company to investments in renewables and the sale of fossil fuel assets such as its shale oil leaseholds in the U.S. But there is still no doubt that this is an oil company with big exposure to the possibility that some currently discovered oil reserves will become stranded as the world can no longer afford to pump and burn oil and natural gas. The company has cut its exploration and drilling program but it does continue to spend money on that part of the business.

All in all, I’d prefer not to own any oil and natural gas shares–even in as “progressive” a company as Equinor.

I’m going to take advantage of the rally in oil prices to sell these shares out of my Jubak Picks Portfolio with a small 0.9% gain since I established that position in May 2012.

I have also collected dividends for all those years–sometimes in cash and occasionally in scrip. The stock currently pays a 2.24% dividend yield. The ex-dividend date for the next payment, to be made on May 27, was May 14.

The shares are up 32.2% for 2021 to date as of the close on May 24.