The dam bursts….and I’m not talking about the one in Derbyshire | daryanenergyblog
In short, the oil industry has spent the last decade running faster to stand still. And they are about to get hit with a massive attack of cramp. Hence its entirely possible the current trends might not only continue but even accelerate. Oil production falls yet the oil price doesn’t go up much, so more investors pull out.
Which raises the question, how will it end? With a slow steady decline to obscurity? Or will the fossil fuel industry go out with a bang? While Blackrock and others might well be walking away, there’s still an awful lot of money tied up in the industry, so what happens if the bubble suddenly bursts? It could create the mother of all financial shocks.
Only time will tell. But I’ll have the popcorn ready just in case!