Coronavirus widens climate rift between European and U.S. oil majors
The US economy is in for a mighty rebound which will be fuelled by reliable and cheap energy and lots of automation. WTI is still below 30 and the shale industry is already showing fresh signs of life. If European majors get out of O&G they just want the EU to bankroll their RE sending spree. That will fatten balance sheets for a little while, but as the EU’s capability to bankroll this thrift any further erodes and even more efficient shale will make lots of ventures that European companies typically like to enroll in unprofitable. But the current set of manages in the European majors will have taken their bonuses and gone when this happens so why would they care?
Reuters 
