Shell’s defence of big oil is too hopeful

13 Sep 2017   Peak Oil

Royal Dutch Shell, looking deeply into its crystal ball, sees a future that’s still heavily dependent on oil. The Anglo-Dutch giant expects crude will continue to play a major role in global energy supply for decades, even in its less oil-friendly scenario. That optimism goes someway to justifying the billions of dollars it continues to invest in exploiting new reserves and expanding its fuel network. But it’s also a view that may place too much faith in the combustion engine – and China staying with its current strategy. Despite growing evidence that the oil era is grinding to an ugly and disruptive halt, Shell remains optimistic. On Sept. 8, the company updated its two core strategic models – labeled Mountains and Oceans – which both come to similar conclusions about the future of crude and liquid hydrocarbon fuels. Although peak demand will happen sometime after 2030, and governments will […]

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