Of oil and stones - why the oil industry is overestimating the scale of the renewables challenge

clock • 4 min read

E3G's Tom Burke argues oil giants' predictions of future demand masks the opportunity of the low-carbon transition

Sheikh Yamani, a former Saudi oil minister, is famous for having pointed out that the stone age did not end because we ran out of stones. He was responding to a debate at the end of the last century about...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

Global Briefing: EU clean energy investment plan aims 'to break fossil fuel dependency'

Global Briefing: EU clean energy investment plan aims 'to break fossil fuel dependency'

EU unveils Clean Energy Investment Strategy, global wind power sets new records, and Caribbean islands call for increased biodiversity funding

Michael Holder
clock 13 March 2026 • 7 min read
Fortescue boss labels fossil fuels 'a weapon of war'

Fortescue boss labels fossil fuels 'a weapon of war'

Australian mining magnate Andrew Forrest hails renewables as 'a weapon of peace' that countries urgently need to adopt at scale to ensure energy security

Michael Holder
clock 13 March 2026 • 4 min read
IEA: Iran War constitutes 'largest supply disruption' in history for global oil market

IEA: Iran War constitutes 'largest supply disruption' in history for global oil market

Agency confirms 10 million barrel per day drop in production from Gulf States and loss of shipping through Strait of Hormuz is resulting in unprecedented disruption

James Murray
clock 13 March 2026 • 4 min read