Shell Made More Money at $60 oil Than At $100

[Rodent + 1,424]

Shell's earnings results are in, and their cashflow is set to beat Exxon's. AND they made more money at $60 barrels than at $100 barrels. If that isn't proof positive that a little price squeeze can be good for everyone, consumers and the industry alike. What it's NOT good for is renewables. If oil is profitable at a bit more than half the cost, renewables' future is not as rosy as it used to be.

[J Owens + 45]

I completely agree - and I don't think Shell will be the last to impress with earnings this quarter, it's likely to be a very good month for big oil. 

An increasingly efficient oil industry and the governments stance on clean energy will combine to make renewables struggle. There's an early prediction for 2018 - the best year for oil in the last 4 and the worst for renewables.

[Addy + 14]

I second that prediction. Not looking too good for renewables.