Oil Companies Ponder Ability to Mount Renewables Push
By Tsvetana Paraskova, Energy Writer
It was not that long ago that large oil companies began announcing plans to overhaul long-term strategies to soothe investor concerns about climate change and become part of the solution in the energy transition – and then came the big oil price crash of 2020.
An oil pump powered by solar panels.
The crash upended the short-term plans of major oil and gas firms, which had factored in oil prices between $50 and $60 a barrel when coming up with their investment strategies.
With oil prices now in shambles, the industry is faced with a dilemma in regard to energy transition plans: Can companies afford to
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