Dear MEL Topic Readers,
Shell to cut up to 9,000 jobs in shift to low-carbon energy
Royal Dutch Shell is a British-Dutch multinational oil and gas company. It is one of the oil supermajors along with BP, Chevron, Eni, ExxonMobil, Total, and ConocoPhillips, all of which are under the same pressure for their future, the global shift to low-carbon energy which is fueled by the coronavirus pandemic. Many predict that the demand for oil will never get back to the pre-pandemic level as airlines are reducing their workforce and automakers are accelerating the transition to eco-friendly substitutes. Then, those oil majors have no choice but to reduce the future projection for gas and oil. Accordingly, investment, resources, and assets for fossil fuel production and distribution are going to be slashed. That’s why Royal Dutch Shell decided to reduce its workforce by 10%, or 9,000 jobs following British Petroleum’s 10,000 job cuts announced in June.
Which will shrink faster for oil, the demand or supply? Will there be enough gas stations for conventional vehicles if the supply is reduced too fast?
Read the article and think what the roads will look like a decade from now.
https://edition.cnn.com/2020/09/30/business/shell-job-cuts/index.html
Shell to cut up to 9,000 jobs in shift to low-carbon energy
Royal Dutch Shell is a British-Dutch multinational oil and gas company. It is one of the oil supermajors along with BP, Chevron, Eni, ExxonMobil, Total, and ConocoPhillips, all of which are under the same pressure for their future, the global shift to low-carbon energy which is fueled by the coronavirus pandemic. Many predict that the demand for oil will never get back to the pre-pandemic level as airlines are reducing their workforce and automakers are accelerating the transition to eco-friendly substitutes. Then, those oil majors have no choice but to reduce the future projection for gas and oil. Accordingly, investment, resources, and assets for fossil fuel production and distribution are going to be slashed. That’s why Royal Dutch Shell decided to reduce its workforce by 10%, or 9,000 jobs following British Petroleum’s 10,000 job cuts announced in June.
Which will shrink faster for oil, the demand or supply? Will there be enough gas stations for conventional vehicles if the supply is reduced too fast?
Read the article and think what the roads will look like a decade from now.
https://edition.cnn.com/2020/09/30/business/shell-job-cuts/index.html
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