Decline and Fall

The oil and gas industry is in a deep crisis globally. The fossil system is coming under pressure on the one hand from the ever cheaper renewables, and on the other hand from the necessary and politically requested energy and transport transition. The consequences are lower prices, lower profits and stranded assets at all levels. Especially those companies that operate projects with high costs, such as the fracking industry in the USA, are the first to stumble. Major growth forecasts, including those for petrochemical products such as plastics or fertilizers and pesticides, are no longer tenable. The collapse in demand caused by the Covid19 pandemic and the turbulence on the international oil markets have accelerated the end of the oil age.

But what about fossil natural gas, which is still propagated by many as a "lesser evil" and "bridging technology" into a climate-friendly future?

In this online seminar, we will look at the prospects for the gas industry worldwide. We will examine the industry's current and future financial risks and ask what international trends have to do with the gas industry in Europe and Germany and what role banks, insurance companies and financial markets can play in the necessary phase-out of fossil gas.

The event will be simultaneously interpreted for German and English speaking audiences.

With:

• Kathy Hipple, Institute for Energy Economics and Financial Analysis (IEEFA)
• Ed Vaughan, Carbon Tracker
• Regine Richter, Urgewald

Moderator: Lili Fuhr, Head of International Environmental Policy Division, Heinrich-Böll-Stiftung

The event will be simultaneously interpreted for German and English speaking audiences.

Registration is necessary.

Contact: Annette Kraus, kraus@boell.de
 

Please be advised that online events will be held using the software provided by Zoom. Depending on the type of event (that is, with or without audience participation), you may require a computer equipped with camera, speakers or headphones and / or a microphone in order to be able to take part.

You may either use the software client or the app. The internet browsers Chrome and Edge will enable you to participate simply via an access link. Further information on how to use Zoom is available here.

The access information will be sent to you via e-mail 24 h prior to the event and, again, 2 h prior to the event.

All events are subject to our privacy policy. The Heinrich Böll Foundation is not liable for issues arising from the use of Zoom software. The current Zoom privacy policy is available here.