Investors are ramping up wagers that a global push to lower carbon emissions will hamper commodity production, pushing up prices for everything from natural gas to aluminum.
With producers such as Exxon Mobil Corp . and Chevron Corp . under pressure from investors to minimize environmental damage, many are limiting spending on new output. The caution comes after years of declining investments in production that were driven by lackluster commodity prices and a focus on returning money to shareholders, analysts say.
