Big Oil’s Pullback From Clean Energy Matters Less Than You Might Think
(Bloomberg) -- three strategic possibilities
In other words, Exxon Mobil Corp., Chevron Corp., BP Plc, Shell Plc and TotalEnergies SE “choose cash over climate, to cut fossil fuel production
It’s a reasonable sum, certainly, but it needs context to understand the role the companies played in decarbonization. Over the same period of 2015 through 2022, energy-transition investment from all companies and sectors came to more than $4.8 trillion. The oil majors’ low-carbon investment has obviously increased in absolute terms, but two other metrics make its relative importance clearer.
International Energy Agency
Beyond Petroleum” campaign dates
©2023 Bloomberg L.P.
