Canadian governments stand to lose more than half of their revenue from oil and gas activities through 2040, and nearly nine-tenths of the taxes and royalties the industry says they will collect, as the global economy decarbonizes and shifts away from fossil fuel production, the UK-based Carbon Tracker Initiative concludes in an analysis released this […]
Tesla and EVs didn’t brake for the pandemic, and now the age of oil is ending
During the first nine months of 2020, car sales cratered, with every major automaker seeing a steep drop in sales as the pandemic raged across the globe. That is, of course, every major automaker except Tesla. Despite the world practically stopping due to the pandemic, the Silicon Valley-based electric car maker sold more cars than […]
BP Walks Away From the Oil Supermajor Model It Helped Create
In the late 1990s, BP Plc boss John Browne used an oil-price slump to usher in the age of the supermajor, buying U.S. rivals Amoco and Arco to create a transatlantic giant. He kicked off a round of mergers that saw his company and four others dominate the industry — Exxon Mobil Corp. and Chevron Corp. in the U.S., Royal […]
Will the coronavirus kill the oil industry and help save the climate?
The plunging demand for oil wrought by the coronavirus pandemic combined with a savage price war has left the fossil fuel industry broken and in survival mode, according to analysts. It faces the gravest challenge in its 100-year history, they say, one that will permanently alter the industry. With some calling the scene a “hellscape”, the least […]
How the oil industry pumped Americans full of fake news
The world has known about the dangers of climate change for decades — so why are oil and gas companies still drilling for crude as if there’s no tomorrow? There’s no simple answer. But any explanation would have to give some credit to the wizards of public relations. For more than a century, these spinmasters […]