This could be Big Oil's last surge

Quick Summary

Despite record profits, the oil and gas industry is still headed for a long-term decline, even if it sees more boom-and-bust cycles along the way.

They caution that the pace of the energy transition still remains uncertain given that today the world runs on 80% fossil fuels and only 20% renewable energy.

That's what happened last year, which means higher emissions and an affordability crisis, which isn't consistent with ESG," DellaVigna said, referring to environmental, social, and governance principles that some investors are pressuring companies to adopt.

News Analysis

Author / Journalist: cboudreau@insider.com (Catherine Boudreau,Jacob Zinkula)

Category: Business Technology

Topics: Sustainability Economy INSIDER graphics Arif Qazi Insider Illustration

Source Website Secure: Yes (HTTPS)

Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

News Source URL: businessinsider.com

Readership Location: United States

Published Date: 2023-03-19, 10:00:00

News Timezone: GMT -5:00

Language: English

Original Article Length: 1780 words

Reading Duration: 10 minutes read

Compatibility: Desktop Web, Mobile Web, iOS App, Android App

News ID: 1057733

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About Publisher

Name: Business Insider

Main Topics: BusinessTechnology

Official Website: businessinsider.com

Last Update: 8h ago

Headquarters: United States

Coverage Areas: United States

Publication Owner: Independent Company

Publication Timezone: GMT -5:00

Languages Covered: English

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Website Security: Secure (HTTPS)

Publisher ID: #44

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