Big Oil Goes Back to What It Does Best

At the 2024 edition of CERAWeek, several energy executives openly called for a rethink of the energy transition. That had never happened before. Before, everyone was on board with a move from oil and gas to electricity. Fast forward a year, and it’s official: Big Oil is done with the transition and is returning to what it does best—oil and gas. It was BP that put the period at the end of the industry’s attempts to transform into power companies making money by building and operating wind turbines and solar installations. This…