Even though the headlines might no longer be on the front pages of newspapers, there is still an energy crisis.
The invasion of Ukraine continues, hence the embargo against Russia's energy exports, plus the transition to cleaner sources takes years to build up the infrastructure.
So, like it or not, coal is still an investment option.
The coal price and coal stocks have fallen this year. This could just present a temporary buying opportunity.
Here are two ASX energy shares that play on that theme:
Coal prices will rise
Bowen Coking Coal Ltd (ASX: BCB) shares have plunged more than 34% year to date.
But that's not putting off Shaw and Partners portfolio manager James Gerrish.
"We remain bullish over the medium term," he said on a Market Matters Q&A.
"Coking coal markets remain tight and we expect to see price support coming through as a result."
The $390 million company is also increasing its output.
"Bowen… have recently received notice that their next mine expansion, Isaac River, is set to be approved."
Both analysts that currently cover Bowen shares rate them as a strong buy, according to CMC Markets.
Buying opportunity after a wild May
Gerrish's team also likes mining technology provider Calix Ltd (ASX: CXL).
The share price has admittedly been wildly volatile this month.
"It has been hard to pinpoint the reason for the weakness," said Gerrish.
"Talk of a large seller coming through could be one reason, while the papers have also been reporting on a lack of support for carbon capture projects could be another."
Calix even put out an announcement to the ASX last week to clarify there was no particular reason they know of that's causing the stock price fluctuations.
Gerrish isn't fazed.
"We remain bullish here. This is a long term holding for the emerging companies portfolio."
The Calix share price is actually still 3% higher than where it started this year.
All three analysts currently surveyed on CMC Markets rate Calix as a strong buy.
