Danielle Fugere, As You Sow president, chief counsel and report co-author said: "We are in a period of accelerating change, which will fundamentally affect the oil industry. Investors need to understand the deepening structural risks in the oil industry, which have become more pronounced over the last decade. The future is not set in stone for oil companies, but their failure to acknowledge signs of change and plan appropriate action could be disastrous."
Amelia Timbers, As You Sow Energy Program Manager and report co-author said: "The oil majors are caught in a negative feedback loop. Every time oil prices are high enough to allow the majors to break even, high oil prices simultaneously create market conditions that accelerate long-term oil demand destruction, ironically reducing the frequency and extent of oil price rebounds in the future."
As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy and coalition building. www.asyousow.org.
CONTACT: Pat Mitchell, (703) 276-3266, firstname.lastname@example.org;
Danielle Fugere, (415) 577-5594, email@example.com
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SOURCE As You Sow