Oil companies in the United States need to diversify or risk falling behind during the energy transition, Energy Secretary Jennifer Granholm said during a virtual event organized by Politico. "The bottom line is you have got to move," Granholm said, as quoted by Argus. "You cannot hang on and be the Kodak or the Blockbuster Video of the energy world. You have got to diversify." Kodak and Blockbuster Video are perhaps the most notorious instances of companies that did not sense which way the wind was blowing and fell off the race track. According…
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