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 […]