Now oil companies can take the green lead

If the largest oil outfits opt to diversify their operations away from the core business, the corona crisis provides an exceptional opportunity to overtake greener utilities, a Lux Research energy economist says.

BY MATHIAS JULIUS FALKENGAARD

Published: 01.05.20 at 13:51

The black commodity's ongoing crisis might end up benefiting oil companies, according to Arij van Berkel, energy economist at analyst firm Lux Research, who says there might be some sense in all the madness.

When the Covid-19 pandemic and oil price crises can be interpreted as an opportunity for the fossil fuel giants, the main fact behind the matter is that green power is now even cheaper than normal, and petroleum companies have deeper pockets than most others.