Page 3 - Marie Fagan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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-Post-covid price squeeze on the cards
-Producers pivoting 
By Sarah Mills
A decade ago, fuelled by China’s industrialisation, the fossil-fuel industry appeared unstoppable. Now, the impossible isn’t just possible, it is a reality. 
Producers globally are falling like dominoes to the inexorable and sharply accelerating transition to renewables and vehicle-and-industrial electrification.
Investors barely had time to blink when covid and the Saudi-Russian oil war hit, before many major producers wrote down roughly one fifth or more of proved fossil fuel reserves.
The industry has its back to the wall and is kow-towing to ESG investors across the globe for the desperately needed funds that will ensure their survival as a back-up fuel to support the coming transition. ....

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