The fortunes of companies in the alternative energy sector crushed Big Oil shares last year. The leadership shift in favor of various slices of so-called clean energy shares surprised some market observers. The Trump administration, after all, hasn’t been shy about favoring the fossil fuels industry and changing the regulatory landscape toward that end. But in recent days Big Oil has found a second wind after lagging in 2025. Investors are now wondering: Was last year’s rebound in alt energy a one-off?