Oil industry torn between Greta Thunberg and Donald Trump
DAVOS: Oil majors are at the sharp end of the climate debate and face a bewildering balancing act to secure their futures.
It’s a Catch-22 situation: to meet ambitious emissions targets by investing in low-carbon technologies, they will have to rely on revenue from expanding their businesses in oil and gas, for which there is still growing global demand.
On one hand, they must satisfy the big investors who are rewarding companies with progressive climate policies and dumping heavy polluters; yet on the other, they can’t risk cutting the generous dividends that keep shareholders sweet.
