Why ASX oil stocks could replace the ASX tech boom in 2021

You might think it’s a bid of a bold call, but some experts believe ASX oil-exposed stocks could be the next ASX tech stars.

While its tech stocks like the rocketing Afterpay Ltd (ASX: APT) share price and Xero Limited (ASX: XRO) share price that have been soundly beating the S&P/ASX 200 Index (Index:^AXJO), oil stocks may replace the tech rally in 2021.

ASX energy stocks have underperformed this year as the oil price crashed. Many are also shunning the sector due to environmental concerns.

ESG investing clashes with ASX energy stocks

The snub that Prime Minister Scott Morrison had to endure at the UN Climate Summit will motivate even more investors to embrace Environmental, Social, and Corporate Governance (ESG) investing.

Even…