This news comes shortly after the recent study published by scientist of the United Nations Climate Change that says most fossil fuels will need to stay underground in order to stay below a maximum two degrees Celsius global average temperature rise, which is where we will start to experience the worst effects of global warming.
The fossil fuel industry will not vanish by tomorrow but will slowly decline in years to come. However, the increase in the US and global energy use will continue to grow. Turning from a declining business to a growing one would prove profitable for any shareholder. Ultimately, fossil fuel companies will have to adjust and adapt to the new energy transition in order to play a part in this economic change and contribute to the environmentally sustainable economy.
Marketing Manager for ENACT Systems Inc.