WDS 1.91% $24.56 woodside energy group ltd

The Perfect Storm for Oil, page-37

  1. 2,669 Posts.
    I'm not too sure just what you mean by "greenie" because the term is a bit generic.  I am concerned about climate change as I assume any intelligent person would be.

    I am just accepting facts .
    • oil as a fuel for motor vehicles will be replaced by battery power within 10 years.
    • oil as a fuel for locomotives, ships, mining machinery and power generation is being replaced right now by LNG
    • Oil industry executives accept that oil (and LNG!) do not have a future unless ways of reducing emissions are found.
    Back around the turn of last century many people thought the "horseless carriage" was a passing fad!  If you want to believe the world's energy sources will be basically the same in 15 to 20 years as they are now,  then you are dreaming.

    I am quite certain the major petroleum companies around the world will put a lot more effort into developing natural gas than oil because there won't be a market for oil in the near future.
 
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