Simms seems entirely incapable of understanding basic economics or business:
Using optimistic assumptions, the company nevertheless sees a gap emerging by 2050 between \”business-as-usual-supply\” and \”business-as-usual-demand\”, a gap so large that it is equal to the size of the whole industry in the year 2000.
So oil prices will soar then, yes?
The Shell report spoke of \”volatile transition\”, and of economic outlooks that range from \”severe-yet-sharp\” to \”deeper-and-longer\” and the marvellously catchy, if dated, \”Depression 2.0\”.
With so much insight, it is remarkable then, that Shell, like BP, has reversed at speed out of renewable energy. Shell dropped investment in wind, solar and hydrogen energy in 2009, the same year BP closed the London HQ of BP Alternative Energy, along with its solar plants in the US and Spain.
Why \”remarkable\”? I would have said \”blindingly obvious\” myself.
The oil price is going to soar, the oil companies will be making money hand over fist and they\’ve no need to lose money on things like hydrogen and bloody windmills, have they?
Man\’s a loon.