Credit to Author: Steve Hanley| Date: Wed, 20 Mar 2024 06:24:15 +0000
CERAWeek 2024 featured an address by Aramco CEO Amin Nasser in which he called a transition away from fossil fuels “a fantasy.”:
The post Aramco CEO Blasts Energy Transition “Fantasy” At CERAWeek 2024 appeared first on CleanTechnica.
Read moreCredit to Author: Steve Hanley| Date: Wed, 17 May 2023 15:45:49 +0000
The World Economic Forum predicts that the EV revolution will eliminate the demand for 2 million barrels of oil a day by 2025.
Credit to Author: Gerard Reid| Date: Mon, 07 Oct 2019 21:00:28 +0000
There is a pretty simple truth about oil, and that is that there is lots out there, a fact that is not going to change going forward. In fact, quite the opposite. There is probably more upside to production, as well as downside on the demand side, meaning we will likely see low oil prices for the foreseeable future. The likelihood is that we will also see a race to the bottom in terms of the oil price as producers try to pump oil out of the ground and bring it to market as fast as possible. This in turn will lead to stranded assets as oil companies write down high-cost resources which have become too expensive to take out of the ground