Oil Industry Exits Point to Medium Term Supply Challenges and Incremental Renewable Investment
Payne Institute Program Manager, Sustainable Finance Lab, and Researcher Brad Handler looks at the energy majors’ exit from Russian relationships seems likely to put pressure on peers and the major Western service companies to follow suit. Such a broad exit points to eventual, and enduring declines in Russian oil production as well as lower Russian gas exports. Higher resulting oil and gas prices should further incentivize clean energy investments in the OECD and beyond. March 3, 2022.