"Seems like a foolish investing decision that ignores 1) climate change and its increasingly obvious disastrous and costly impacts, and 2) the renewable energy and related EV technology advances."

This was just as "true" back when oil was over $100/bd...which was not that long ago.   The only difference is that now, just about everyone is bearish on oil and oil stocks.  He is not calling a bottom, but arguing that scaling in at what are likely to be depressed prices (and we know that little else out there remotely resembles being 'cheap') might look pretty good, down the road.

I have almost no exposure to energy personally, so I am not being "long and loud".  But I do suspect that nibbling away at these levels might prove to be smart in two or three years time.