Will COVID-19 and Cheap Oil Green Our Energy Future?
Payne Fellow William Nuttall writes how last month, Shell joined BP in embracing a serious low carbon strategy, this makes environmental sense, but in a world of enduring cheap oil it could also make good long-term business sense. In recent days, we have seen US oil futures dropping to a price of -$35 a barrel! Negative prices have never been seen before. Perhaps, this event will be remembered as the moment that the oil industry finally changed, but the seeds of change have been around for some time. May 2020.