Business

Is oil finally on its way out?

Oil companies are under pressure from “governments looking to curb greenhouse gases, investors seeking better returns, and others simultaneously wanting both,” said Paul Takahashi at the Houston Chronicle. Last year was the worst on record for “the biggest six or seven companies collectively known as Big Oil.” Last week, Exxon Mobil, BP, and Shell “reported losses for the year of $22.4 billion, $20.3 billion, and $21.7 billion, respectively, as they grappled with a historic oil crash wrought by the global pandemic,” and the future looks far from certain.

Source:

theweek.com

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