{"id":7616,"date":"2017-06-14T16:52:10","date_gmt":"2017-06-14T15:52:10","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=7616"},"modified":"2017-06-14T16:52:10","modified_gmt":"2017-06-14T15:52:10","slug":"big-oil-losing","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=7616","title":{"rendered":"Big oil is it losing out?"},"content":{"rendered":"

\"oil<\/a>Big oil is it losing out on our renewables future?\u00a0 This is the question that Oil and Gas experts Wood McKenzie are asking in a new report.\u00a0 Demand for wind and solar are rising much faster than oil demand (see graph).\u00a0 Several people at my church worked for Wood McKenzie and one of these thought that all the oil majors interest in renewables was greenwash.\u00a0 Its hard to argue with him since soon after he made that argument BP and Shell to name but two withdrew almost totally from their renewables businesses.\u00a0 Now really on Statoil and Total are investing in renewables.\u00a0 Statoil in the new offshore floating wind turbine technology in Scotland and Total in solar.<\/p>\n

Wood McKenzie’s argument is that big oil is it losing out financially since oil growth is so low compared to renewables.\u00a0 Wood McKenzie reckon the oil companies need to spend $350bn by 2035 to get the spending share to that of their oil and gas assets.\u00a0 They also said that the companies would need to spend 20% of all capital expenditure on renewables beyond this date.\u00a0 At the moment its hard to see this. \u00a0 The companies talk a great game on tackling climate change but it still in most cases seems like hot air.<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

Big oil is it losing out on our renewables future?\u00a0 This is the question that Oil and Gas experts Wood McKenzie are asking in a new report.\u00a0 Demand for wind and solar are rising much faster than oil demand (see … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[5,4,1],"tags":[63,177,47],"class_list":["post-7616","post","type-post","status-publish","format-standard","hentry","category-climate-change","category-renewables","category-uncategorized","tag-renewables-2","tag-solar","tag-wind-power"],"yoast_head":"\nBig oil is it losing out? - The oil lamp - shining God's light on peak oil<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theoillamp.co.uk\/?p=7616\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=7616\",\"url\":\"https:\/\/www.theoillamp.co.uk\/?p=7616\",\"name\":\"Big oil is it losing out? 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