Estimate-beating profits and solid cash positions were marks of the first half of the year for Big Oil majors and for their smaller rivals, too. A strong rebound in fuel demand pushed oil prices so high that clean energy proponent President Joe Biden had to reach out to OPEC+ to ask for more oil. According to Wood Mackenzie, this is the best time for Big Oil to accelerate its decarbonization efforts. "It's incredibly rare for an industry to get decades-long notice that its business is under threat," the consultancy wrote in a report titled CO?mmit…
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