The news that oil companies Shell and BP are cutting renewable energy investment to refocus on oil and gas seems like a major blow to the energy transition. Looking at the bigger picture, however, a familiar pattern is emerging. Daan Walter, from energy think tank Ember, argues the move isn’t a setback but rather the transition’s next phase – and if the West wants to stay competitive, it must act now.
Shell and BP have refocused on their core business amid tough competition in the renewables sector.
Photo: Ben Wicks/Unsplash
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