Politics driven by public opinion are driving change to renewables. Engineers at Exxon think economic forces will save them. Renewables don’t have to be economically competitive if people legislate the change which is what is happening. Oil production will be legislated out of existence. We will import from foreign companies after shutting down domestic production. Just like we no longer have manufacturing. Future of Houston is Detroit.
4 replies (most recent on top)
Please do not insult Detroit – they sold more EM product to America than any other city.
And maybe it's not politics. Maybe it's frozen houston pipes bursting.
What's the point of arguing for something you clearly are biased towards simply because you personally have been making money from it for decades ? Your incentive is clearly based on self benefit and nothing else.
Yes comrade. America no more oil. Buy from us. We treat you very good. Boris
Oil companies that don't make the move towards renewable may end up like tobacco manufacturers... Operating on niche markets where oil can't be easily substituted and in countries with less stringent regulation on the use of fossil fuels. They'll be smaller than what they are today (and even smaller than what they were 50 years ago) but might remain profitable... for their shareholders.