Heading for a change: When oil is no longer in demand
The world is drowning in oil. But there is a growing belief that change is in the pipeline. In fact, research by McKinsey, a consultancy, and the World Economic Forum has identified three game changers for companies and policy makers within the industry. New energy sources, the likely growth of electric vehicles (EVs) and industry fragmentation are the main elements breaking the habit for oil companies.1. New energy sourcesFirst, the bad news. Even if Exxon Mo...
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