Big Oil's Enviable Problem: What to Do With All this Money?
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Editorial by Geoffrey Lakings for Industrial Info Resources (Sugar Land, Texas)--Big Oil is flush with cash, thanks to price and volatility trends that have been unfolding across global energy markets for more than a year.
However, even with this influx of capital, plans are already afoot to pivot away from some of the "supposedly committed" energy transistion/ESG projects. And there is a growing backlash against ESG initiatives in the U.S.
But none of this means Big Oil is dropping its energy-transition/ESG projects. In fact, plenty of related investment was highlighted by IIR's peerless "boots-on-the-ground" research during a recent webinar focused on the industry's future.