Insight and inspiration in turbulent times.
Today, the shale boom of the 2010’s is officially bust, battered not only by the ’s outsized failure to control COVID-19 outbreaks and an oil price war in which foreign producers proved their ability to steer oil prices, but also a wave of multi-billion dollar write-downs by oil giants
Activists will welcome this fall in fossil fuels production, but we must bear in mind that a low intensity energy crisis could also hamper our ability to carry out an efficient energy transition.
The oil, gas, and petrochemical industries have taken a massive financial blow from the COVID-19 pandemic, but its financial troubles preexisted the emergence of the novel coronavirus and are likely to extend far into the future, past the end to measures aimed at curbing the spread of the disease.
