tidal today

Despite never actually being said there seems to have been an unspoken belief that at some point the big 5 oil companies would have to admit that renewable energy is the way to go  and they would be forced to heavily invest and move into renewables to diversify their portfolio. Hence being the saver of renewable technologies.

However recent activity of the major oil companies presents a different scenario. Oil companies are presently liquidating their public shares as fast as they can in order to buy them back giving them supreme power - frightening!

Oil companies could very soon become financial monsters as they will be able to dictate the price of oil for the world. The cost to power the world at present is a staggering £20 trillion, that’s twice the GDP of America! One thing is clear declining oil production is not enough to stop the big five.

Presently they are on surviving of enhanced recovery techniques as for every barrel that is extracted two are left behind under conventional methods and with increased efficiency and biological organism being used as a catalysts to enhance production oil is not going to disappear from the agenda just yet, but when it does the oil companies will benefit as they are already preparing for their exit.

Will the responsibility be passed onto utility companies to eventual put up large sums of  cash or will they focus on nuclear?
 
Perhaps the argument that renewable technologies are either not proven or can not provide the energy security needed for the nation will always be the biggest stumbling block. Are we in a catch 22?