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Big Oil confronts possibility of terminal demand decline

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[PARIS] Although crude prices have rebounded from coronavirus crisis lows, oil executives and experts are starting to ask if the industry has crossed the Rubicon of peak demand. Read more at The Business Times.

"I don't think we know how this is going to play out. I certainly don't know," BP's new chief executive Bernard Looney said in May.

Michael Bradshaw, professor at Warwick Business School, said environmental groups are already lobbying to prevent the Paris agreements becoming another casualty of the pandemic, stressing the need for a Green New Deal for the recovery. "I don't agree with that. Teleconferencing alone will not help us to reach our energy and climate goals, they can only make a small dent," Mr Firol added while unveiling a recent IEA report.

 

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Big Oil confronts possibility of terminal demand declineAlthough crude prices have rebounded from coronavirus crisis lows, oil execs and experts are starting to ask if the industry has crossed the ...
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