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
oil industry outlook
Crude Britannia: Understanding how oil shapes a nation
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.
Non-Aligned: As Big Oil spews climate denial, oil workers want to “switch to renewables”
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 COVID-19 & climate emergency, U.S. Big Oil says it’s “folly” to invest in renewables
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.
“Humiliation”: Exxon dumped out Dow Jones Industrial Index after nearly 100 years
The once mighty Exxon has just suffered the corporate humiliation of being booted out the highly influential Dow Jones Industrial Index.
We have entered the “end game” for oil — with “permanent demand destruction”
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.
“Bold, not incremental” post-COVID-19 action on climate is urgently required from IEA
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.
From Supermajors to Superminors: the fall of Big Oil
Shell is in trouble. BP is in trouble. So too is Exxon.
As BP’s profits plunge, analysts say we are entering the “end-game” for oil
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.
COVID-19 fallout threatens “long-term survivability” of Big Oil
Big Oil faces a new reality where “everything has changed.” Even their long-term survival.