When last year BP vowed to reduce its oil and gas output by 40 percent by 2030 as it shifts to renewable energy, it came as a shock to many, pushing the company s share prices down sharply. Yet since then, pressure on Big Oil to stop doing what it does has only been growing. And Big Oil is responding.
The Houston Chronicle s Paul Takahashi in a recent article detailed supermajors positioning to effectively move away from their core business and into low-carbon energy. Takahashi noted several examples of Big Oil partnering with majors from other industries to effectively reduce these other industries consumption of Big Oil s principal products: fuels.
13Jul2021 Midday Update: CPI: Year-over-Year Inflation Largest Increase Since 2008, At Noon DOW Down 25 Points, Nasdaq Up 0 4%, WTI Crude Higher 74 72, Gold Steady At 1814
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13Jul2021 Pre-Market Commentary: Wall Street To Open Lower, DOW Down 100 Points, Nasdaq Down 0 3%, US Dollar Higher 92 57, Dogecoin Falls To $0 20
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