In its second climate change report Chevron said its business is resilient to a number of scenarios the company has looked into, despite the push towards more renewable energy and less oil and gas. The company notes that most forecasts for global energy demand agree that demand for fossil fuel-generated energy will continue to rise in the coming decades, which means Chevron’s main products will not be forced out of the market by renewables anytime soon. The International Energy Agency’s (IEA) worst-case scenario for Big Oil, Chevron notes, sees fossil fuels’ share in the global energy mix falling from 54 percent to 48 percent by 2040. That’s not really a major fall, which is why Chevron is so confident that its business will not be affected by the climate change fight. At the same time, Chevron said, it is investing in improving operational efficiencies to make them less energy-intensive, […]