Oil industry faces economic pressure

In a commentary for the German journal Gebäude Energieberater, the EWG President Hans-Josef Fell provides a political outlook for the oil industry based on the EWG study on Fracking published earlier this year.

He concludes that the oil industry faces a dead-end situation: a low oil price will arrest fossil fuel investment, while a high oil price will accelerate the transition towards renewable energy. In either case, the economic pressure on oil companies increases.

Read the full article (in German) here