MARKET TALK: major oil companies are coming hard times
MARKET TALK: major oil companies are coming hard times
November 18th. (Dow Jones). Now the big oil companies have hard times, and the reason is not only low prices. The world already is a transition to an economy based on the use of low-carbon raw materials and executives have to make difficult strategic decisions. According to Wood Mackenzie, coal and oil demand may peak well before 2035. According to the consulting company, in the next decade to 50% of world production may be subject to tariffs for carbon emissions. Companies are already preparing for the transition period, focusing more attention on the gas operations and making investments in renewable energy. "The transition to a low-carbon energy will play a key role - said Pol Makkonnell, director of the analytical global trends in the Wood Mackenzie. - Most oil and gas companies will risk if they become idle, and investors meanwhile themselves decide everything for themselves".
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