Chasing Big Mergers, Oil Executives Dismiss Peak Oil Concerns

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https://www.nytimes.com/2023/10/25/business/energy-environment/exxon-chevron-oil-mergers-peak.html

By Clifford Krauss, The New York Times.

Excerpt: Exxon Mobil and Chevron, the two largest U.S. oil companies, this month committed to spending more than $50 billion each to buy smaller companies in deals that would let them produce more oil and natural gas for decades to come. But a day after Chevron announced its acquisition, the International Energy Agency released an exhaustive report concluding that demand for oil, gas and other fossil fuels would peak by 2030 as sales of electric cars and use of renewable energy surged. The disconnect between what oil companies and many energy experts think will happen in the coming years has never been quite this stark....

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