Sat. May 21st, 2022

The Marathon Petroleum Corporation El Paso oil refinery is seen on December 10, 2021 in El Paso, Texas.

Pictures: Patrick T. Fallon / AFP (Getty Images)

Oil prices are rebounding As global economic activity peaks back. But the boom could probably happen Governments on climate change are finally a mirage to consolidate their work-And if Big Oil chases it, it could lead to financial ruin.

A new one Report From Carbon Tracker, based in London Think Tank, it has been observed that if industry takes the bait and tries to extract more oil and gas from the soil, it may end. Stuck with more than বিল 500 billion In stuck assets. (And Let’s not even start Climate damage.)

From a business perspective, the industry clearly sees signs of the dollar with high prices and rebounding demand. But what can create Axel Dalman, a lead author of the report, said in a press release that there would be oneThe nightmare situation if they go ahead with a project that supplies oil when demand starts to decline

World leaders are well aware at this point that the end of the fossil fuels era needs to begin, and soon. Otherwise, mankind could face catastrophic consequences. It is found in the report As governments (hopefully) began to get serious about it Fossil fuel industry closed To protect the climate, it could hold the bags of oil companies and shareholders.

“As the world moves away from oil and gas, [companies] Failure to deliver the expected return results risks significant value loss, ”said Mike Coffin, co-author of the report. “For investors, this means making sure they’re involved with companies and that companies are ultimately managing that capital properly, and not wasting and investing in products that risk becoming entrenched assets as demand declines over the next decade.”

Carbon tracker advice from these companies and shareholders? Resist the temptation to go for all the projects because this maximum demand cannot and will not last forever. The report predicts some fossil fuels Companies and them By the end of this decade, oil prices may return to the world before shareholders have a few years to really get cash in their investments at or near peak demand. While prices may still be high, some may reap the rewards, but perhaps many will not because governments around the world are investing in clean infrastructure and increasing demand for electric vehicles. That demand is expected to increase further 30% By 2030Carbon Tracker mentioned in the report.

The report Investigations further show why the world needs a tough plan to shut down the industry. An unplanned collapse could lead to billions upon billions of losses, hurt workers and even potentially worsen the climate if a few companies finally try to get every drop of oil out of the ground.

That’s what searches actually show uAfter all, if Big Oil were to build a fossil fuel infrastructure, everyone would be confused.Including wealthy investors and shareholders.

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