Is This The Beginning Of The End For Oil Super Majors?

Is This The Beginning Of The End For Oil Super Majors?

Energy-oriented investors could not fail to have taken note of the decision that came down in the Dutch court against Shell, (NYSE:RDS.A), (NYSE:RDS.B), last week. This decision was the first time an energy giant had been held liable for emissions not directly tied to its internal activities. Basically it requires Shell to accelerate its planned carbon intensity reductions by 45% to include "Scope-3 emissions" by 2030. Some twenty years sooner than the time frame to which it has already committed publicly.

For those who are unaware, Scope-3 emissions include those from consumer impacts derived from using products supplied by companies. Buying gasoline or diesel has a climate impact according to this decision, and the intent of the court-although it is not specifically stated, is clear. Produce less oil and make less refined petroleum products.