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> sliding into irrelevance on the global stage There’s the rest of the world out there, where these guys are nowhere near irrelevant.
by j_crick 3y ago
> sliding into irrelevance on the global stage
There’s the rest of the world out there, where these guys are nowhere near irrelevant.
- Arnt 3y agoThey definitely are relevant. That doesn't mean they're not sliding, though, and I imagine they're quite aware of how they're sliding. The oil companies had 99.9% market share, then 99.8, 99.5, 99, 98, 96, nowhere near irrelevant but it doesn't take a genius to see a reason why they might worry about their future. We're at a significant point now, BTW. A few months ago, renewables reached 100% of the energy market growth, with installation rate (= market share) still doubling. It's in the single per cent of total market and doubling, and all further increase in the rate of renewable installation is also a contraction in the oil market.