Is big Oil where Utilities were a decade ago?

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(Edited)

Is big Oil where Utilities were a decade ago? (S&P Platts)

It is an interesting question.

The article suggest that Utilities are likely to lead the shift to renewables as European oil majors “find returns too low” (5-10% vs. the 15-20% expected by oil majors) in this increasingly competitive market and thus investments outside their core business areas has been less than 1% of total capital spend according to the International Energy Agency.

The author argues that the oil sector is “missing the point” as this reasoning assumes the oil sector will be able to carry on making 15-20% returns from their investments now that there is increasing competition.

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Oil has decades destroying the planet.
From its extraction process to the final consumer, it only causes pollution and death.

It has been the source of energy that has led to the emergence of humanity, but at what cost?

In 1802 Lord Kelvin had the idea of attaching an electric generator to a machine that took advantage of the wind. It was the antecedent of the wind turbine, which could not be created until in 1850 the dynamo was invented. The inventor Charles F. Brush created in 1888 the first wind turbine to generate electricity.

It's been more than 100 years since we discovered how to produce clean and friendly electricity with the planet.

But the interests of the world economy are based on the commercialization of oil.

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