Top U.S. oil firms are doubling down on drilling, deepening a divide with European rivals on the outlook for renewables, and winning support from big investors who do not expect the stateside companies to invest in wind and solar. Among a dozen U.S. fund managers contacted by Reuters from companies overseeing about $7 trillion in assets, most said they prefer oil firms to generate returns from businesses they know best and give shareholders cash to make their own renewable bets. With oil and gas prices jumping this year, the U.S. oil majors mostly have delivered higher returns and achieved better earnings multiples and dividend yields than rivals, cementing shareholder enthusiasm. “At the end of the day, you don’t invest in a company because they promise nice things,” said Adams Funds head Mark Stoeckle, who favors U.S. producers and whose funds do not currently own […]