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Big oil prepares for the renewable energy revolution.

Climate Denial Crock of the Week

oilsunset

Having missed the memo, Oil giants continue what Trump, in his State of the Union, cluelessly called  “…the war on American energy.”

Fortune:

Last March, Royal Dutch Shell said it was selling most of its stake in Canada’s oil sands, a vast project that has extracted millions of barrels of sticky, gooey hydrocarbons from the ground in a process that resembles mining more than drilling. The oil and gas giant announced that it was unloading its oil-sands assets, for $7.25 billion, so that it could double down on businesses “where we have global scale and a competitive advantage.”

Left unsaid was a deeper reason for the divestiture. Months of deliberations behind closed doors at Shell headquarters in The Hague, Netherlands, had led the top brass at the world’s largest non-state-owned oil company by sales to conclude that the energy industry was changing fundamentally—in a way that could turn the profitable…

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via Is Oil “F**ked”? Oil Giant Scrambles to Prep for Post Oil World

6 thoughts on “Is Oil “F**ked”? Oil Giant Scrambles to Prep for Post Oil World

  1. At least it is very good to see all the other nations of the world and their mega corporations, including energy corporations, not only READ the writing on the wall, but are taking serious proactive steps to get in at the ground-floor of Alternative Fuel sources and its technology… leaving the tRump-screwed USA further and further behind (trumped and checked-mated?) in that global-sector economy! BRAVO to the non-American mega entities! 🤩

    Liked by 3 people

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