Business - 13/November/2020

Oil and gas face adapt or decline moment

What investors and governments do with their money sets the direction of the global economy. Mainstream money was directed to fossil fuel for more than a century, leaving clean energy technologies swirling in the eddies. But during 2020 the flow of money dramatically changed course. The stream to fossil fuel slowed to a trickle and now oil and gas is at risk of being left high and dry.

What investors and governments do with their money sets the direction of the global economy. Mainstream money was directed to fossil fuel for more than a century, leaving clean energy technologies swirling in the eddies. But during 2020 the flow of money dramatically changed course. The stream to fossil fuel slowed to a trickle and now oil and gas is at risk of being left high and dry. The holders of the purse strings have it in their power to pivot to renewable energy and let it take the world in a new direction, this time on a sustainable course


FINANCIAL DIFFICULTIES
The covid-19 pandemic has brought forward the moment when oil production will peak and decline for ever, spooking some majors into looking for more sustainable business models

OPPOSING OUTLOOKS
The future price of oil and gas is still up for debate, with some more optimistic producers sticking by their guns

KEY QUOTE
The constant refrain in the oil and gas sector that “industry fundamentals are solid” is just wrong.
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