Paris, France – Today, the International Energy Agency’s flagship report, the World Energy Outlook (WEO), reaffirms that world leaders must not develop new oil, gas, or coal beyond existing fields, and must close some existing fields and infrastructure early, to remain within the internationally agreed upon temperature limit. The WEO’s findings reinforce urgent calls for … Read More
There is a great and timely book that has been published entitled Crude Britannia, which looks at how oil has shaped society and the political landscape of the United Kingdom.
Whereas Big Oil bosses still continue a strategy of climate denial, the majority of oil workers would switch to jobs in the renewable industry.
Despite our climate emergency and the massive demand reduction caused by COVID-19, American oil executives say it would be “folly” for them to switch to renewables.
The once mighty Exxon has just suffered the corporate humiliation of being booted out the highly influential Dow Jones Industrial Index.
As we have been repeatedly saying for months, we are witnessing the end of the oil age. Even once great giants are now crumbling at their core.
A letter from leading businesses, scientists and activists demands “bold, not incremental, action” is required from the International Energy Agency on climate change. Hopefully, Dr. Birol and the IEA are listening. For all our futures may depend on their report next month.
Shell is in trouble. BP is in trouble. So too is Exxon.
You cannot underestimate that seismic shift going on as investors, often drunk on big oil profits, now just face uncertainty and loss. The oceans are awash with bobbing tankers full of oil, with no market to sell them. The industry is paralysed by the pandemic.
Big Oil faces a new reality where “everything has changed.” Even their long-term survival.