Climate Activists Are Setting Up Oil Prices For New Boom
June 3, 2021
By Paul Homewood
The Law of Unintended Consequences!!
Climate activists celebrated landmark victories over Big Oil at the end of May, but investors should be wary of their environmental goals and the likely impact on demand for oil.
It may not be the outcome activists are hoping for.
Calls for oil companies to speed up the transition from fossil fuels to zero-carbon energy reached a crescendo at the end of May as a Dutch court ordered Royal Dutch Shell to increase its greenhouse emission cuts, Exxon Mobil XOM +0.8%, meanwhile, lost a battle – as well as seats on its board – with activist investors over its record on climate change. Chevron’s CVX +1.3% shareholders demanded an explaination how it plans to deal with Scope 3 emissions, the emissions generated by the consumers of its products.
https://notalotofpeopleknowthat.wordpress.com/2021/06/03/climate-activists-are-setting-up-oil-prices-for-new-boom/
