An increasingly unprofitable global oil market is driving fuel prices to historic lows and hemorrhaging investment in conventional energy sources. Breaking with tradition, cheap oil no longer foretells disaster for renewable energy companies. On the contrary, disillusioned fossil fuel investors are seeking high-growth opportunities—just in time to ride the renewables wave in the wake of the 2015 Paris climate talks.
worldwatch – Crashing out in February at $27 per barrel, crude oil prices have reached their lowest point in over 13 years, since the 2003 U.S.-led invasion of Iraq. Despite a modest recovery in March driven by expectations for reduced production, investors remain skeptical of underlying oil market fundamentals and are reducing their exposure. These selloffs have dragged down the stock prices of large conventional energy companies listed in the Standard & Poor’s 500 Index by 13 percent and have cost investors more than $703 billion since the record-high oil prices of June 2014.
Responding to these selloffs, oil companies have tightened their belts, decommissioning two-thirds of their rigs and sharply cutting investment in oil field exploration and development, while an estimated 250,000 oil workers have lost their jobs. A Wood Mackenzie report identified 68 major oil and natural gas projects—representing a combined value of $380 billion and output of 2.9 million barrels of oil equivalent (boe) per day—that have been put on hold since late 2014. Besides reducing operating costs, oil companies hope that these measures will have a stabilizing effect on the market by reducing productive capacity in the medium to long term. Tiếp tục đọc “From Omen to Opportunity: How Cheap Oil Is Accelerating Sustainable Energy Investment”
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TPHCM, trung tâm kinh tế lớn nhất nước, cũng là nơi diễn ra nhiều cuộc sáp nhập ngân hàng những năm qua. Ảnh: Hồng Phúc
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