For the fossil fuel industry, every crisis has always contained both danger and opportunity. It’s a trick the renewables business has struggled to master.

John D. Rockefeller created Standard Oil Co. by paying liquidation prices for rival refiners amid an industry-wide glut — and then using his control of processing to squash the cycles of boom and bust in oil drilling, too. Losing its monopoly on Iranian crude after a 1953 coup spurred BP Plc to explore fields in Alaska and the North Sea that would sustain it for decades. The global oil market exists largely because of the way the eight-year closure of the Suez Canal after the 1967 Arab-Israeli war prompted shipping companies to develop unprecedentedly large tankers.

QOSHE - Wind Power Is Starting to Learn Big Oil’s Dirty Little Secret - David Fickling
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Wind Power Is Starting to Learn Big Oil’s Dirty Little Secret

3 9
31.01.2024

For the fossil fuel industry, every crisis has always contained both danger and opportunity. It’s a trick the renewables business has struggled to master.

John D. Rockefeller........

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