Ought to Oil Corporations Rethink Lengthy-Time period Upstream Funding?

Ever because the invention of inner combustion engine (ICEs) means again within the early 1900s, the demand for automobiles has constantly been on the rise. The brand new method of transportation not solely made mobility of individuals straightforward and quicker (in comparison with horse-coaches), but in addition represented a serious driver for the oil business. At present about 70 % of oil is consumed in transportation sector – street, air, rail, sea. Bulk nevertheless, is related to street transportation. On the finish of 2015, the whole variety of ICEs automobiles elevated to 1.2 billion, representing…

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