The biggest oil firms in the world are really really bad at predicting the future. A new report from Greenpeace and Oil Change International details how the oil majors BP, Shell and ExxonMobil consistently misread the energy landscape in their prestigious annual outlooks. Renewables are underestimated, King Coal is prematurely dethroned while oil and gas are given sunny forecasts despite structural challenges and price crashes. Indeed the industry’s latest round of reports – in which the disruptions electric vehicles and the Paris climate agreement are dismissed – suggests the pattern is set to continue for the foreseeable future.
Energydesk 16th March 2017 read more »