Oil companies could get caught in a stranded asset trap worth $500 billion, environmental think tank Carbon Tracker said in a new report this week. According to the report, “Surging oil prices may tempt oil and gas companies to make long-term investment decisions that cost shareholders dearly, but a cautious “managed” approach to the energy transition would do most to preserve shareholder value and help society achieve climate goals.
” The authors noted the recent surge in oil prices but cautioned Big Oil about letting it…Higher Oil Prices Could Trigger $500 Billion In Stranded Assets
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