It has been a terrible, horrible, no good, very bad week or so for Big Oil...and that’s a very good thing for our climate.

Let’s recap:

Last week, the International Energy Agency released the groundbreaking “Net Zero by 2050” report, which they described as “world’s first comprehensive study of how to transition to a net zero energy system by 2050.” As OCI’s Kelly Trout outlined in her analysis last week, this first 1.5?C-aligned model from the IEA “closes the door on new fossil fuel extraction.” 

In bold lettering, the IEA concluded: “There is no need for investment in new fossil fuel supply in our