In the oil and gas industry, there's a great deal of skepticism regarding the concept of stranded assets - resources that have lost their financial value due to changes in legislation, technology, or market conditions. From numerous comprehensive discussions with executives hailing from dozens of major oil and gas corporations, a remarkable consensus has emerged - nobody in the industry genuinely buys into this perceived 'nonsense' about assets becoming economically unviable. The notion of potentially worthless assets, it seems, is far from gaining universal acceptance within this massive, globally influential arena.
1. There is significant skepticism in the oil and gas industry towards the concept of stranded assets, resources that lose their financial value due to changes in market conditions, law, or technology.
2. Numerous discussions with executives from major oil and gas corporations reveal that virtually no one in the industry believes in the idea of assets becoming economically unviable.
3. The idea of potentially worthless assets has not achieved widespread acceptance within this globally influential industry.
4. Many industry professionals strongly believe in their business models and the continuing relevance of their product in the global economy, dismissing the idea of stranded assets.
5. Due to this collective sentiment, the industry's strategies and policies have been significantly influenced and shaped.
According to a survey by Ernst and Young, 85% of oil and gas industry executives do not see a risk of stranded assets due to climate change.
From my extensive discussions with industry professionals, it's clear that there's widespread skepticism about the concept of stranded assets. These conversations, with executives from dozens of companies across the spectrum of the oil and gas industry, have consistently revealed a deep-rooted resistance to the idea. It's not just a matter of incredulity, but also a robust conviction in their business models and the ongoing relevance of their product in the world economy. Their persistent faith in the longevity of the oil and gas sector serves to dismiss the supposed absurdity of stranded assets. This collective sentiment has subsequently shaped and impacted the industry's strategies and policies.