WoodMac Warns Half Of Big Oil Output May Be Hit By Carbon Costs
Submitted by Tsvetana Paraskova via OilPrice.com,
As much as up to 50 percent of the production of oil majors could be hit by carbon costs in the next ten years if legislators that currently price carbon extend the policy to the upstream sector, Wood Mackenzie said in a new report on how oil majors would respond to the global energy transition and rising pressure for low-carbon energy.