The Energy Transition Will Change The Oil Industry: “This Time For Sure!“

The Energy Transition Will Change The Oil Industry: “This Time For Sure!“

Share to Linkedin Protest of the activists of Extinction Rebellion against ENI, one of the biggest oil company in the ... [+] world (Photo by Samantha Zucchi/Insidefoto/Mondadori Portfolio via Getty Images) The front page of Saturday's New York Times NYT business section had two headlines that beg to be juxtaposed: "Rebels open new fronts for climate, and win" about activists gaining ground on the fossil fuel industry, and "Biden finds fossil fuels hard to quit" about approval of an oil project in Alaska. Readers might wonder how to rationalize the seeming inevitably of the end of the fossil fuel age with the continued investment in them“”and approval of such by a Democratic president. Probably the definitive word comes from a book subtitled, "Transition to a Post-Petroleum World," which opens: "For rich lands and poor alike, the energy patterns of the past are not prologue to the future. The oil-based societies of the industrial world cannot be sustained and cannot be replicated, their spindly foundation, anchored in the shifting sands of the Middle East, have begun a long, irreversible process of erosion." But: it was published in 1977 by Norton for the Worldwatch Institute. Aha, you say, this time is different,