Interesting.
The world is changing. To some, perhaps pretty quickly.
https://time.com/5766188/shell-oil-companies-fossil-fuels-climate-change/
"In the 1990s, he explained, Shell publicly acknowledged climate science and said the world needed to act to combat the problem. But at the time, neither governments nor consumers seemed too concerned about emissions, and the demand for oil was growing like gangbusters to fuel a global economic expansion. So the company dutifully responded to market demands: it produced and sold oil to turn a profit.
Nearly three decades later, Shell’s business model is shifting by the same market-driven calculus. Despite advertising that depicts the oil giant as environmentally friendly, its decision to reduce reliance on oil is not born of benevolence. It’s reacting to market forces. A 2019 McKinsey report predicts that declining gas consumption in the transport sector, because of factors like fuel efficiency and electrification, could lead oil demand to begin decreasing in the early 2030s. “The future of energy needs to evolve as something else,” van Beurden (Shell CEO) says. “And we find a role for ourselves in it.”
Also:
https://www.nytimes.com/2020/08/04/business/energy-environment/bp-renewable-investment.html
"European oil companies, much more that their counterparts in the United States, have made a flurry of commitments to reduce carbon emissions in the future, responding to pressure from investors and governments to be on the right side of tackling climate change.
Mr. Looney (CEO BP), though, was more specific in his investment goals, saying that he intended for BP in a decade to be investing around $5 billion a year in renewable energy like wind, solar and hydrogen, a clean-burning gas, about 10 times the current amount. BP’s capital spending is likely to be about $12 billion this year.
He said that he wanted to reduce oil and gas production by about 40 percent in that time frame. As part of the shift, BP, whose origins date back to the discovery of oil in Iran in the early 20th century, would not enter any new countries to explore for oil and would also pare back its refining by about one-third, Mr. Looney said."
Change is in the future. "Positive" opportunities will likely accompany much of the change.