Big Oil Needs to Adjust to Non-fuel Long-term Business Model

The converging crises of carbon-induced climate destabilization and unsustainable transport-related costs and land-use are pushing global society toward a moment of major change, in which “fuel” as we know it will be less a matter of resourced-fuel combustion and more a matter of renewable clean electric power storage and delivery. The petroleum industry needs to adjust its business model to operate in a world where burning its prime resource is not the goal.

Until now, and even in the midst of the current ongoing energy debate, we are accustomed to viewing the onset of renewable energy sources and the interests of petroleum companies as diametrically opposed and politically incompatible. That idea is now easily seen as what it is: an ideological assumption based on a world-view informed by too few facts and too little understanding of complex interrelationships among resources, natural systems, and economic activity. 

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