Around the time when Exxon announced the acquisition of Pioneer Natural Resources, the International Energy Agency published its much-awaited World Energy Outlook. It contained no surprises: a month earlier, its head, Fatih Birol, had said the IEA expected oil, gas, and coal demand to peak before 2030. With that, he prompted a quick and negative response from OPEC, which said the IEA had basically become part of the political establishment rather than a forecaster and an advisor. A few days later, Chevron did what some analysts said it would do:…
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