Singapore Joins the Crowd Phasing Out Petroleum

From this article: Singapore aims to phase out petrol and diesel vehicles by 2040, making a bigger bet on electric cars as part of its efforts to cut greenhouse gases and fight climate change, the finance minister said on Tuesday. The wealthy city-state of 5.7 million, which is hiking investment in flood defences, joins Norway, Britain and others in setting a target to cut the use of vehicles with combustion engines.

A decade ago, it appeared that the oil industry was an immovable object, steadfastly resisting the world’s efforts to save itself from climate collapse. Not so today.  Check out this piece from Deloitte on slowing growth.  Wow.

In addition, we have the effects of divestment, price volatility, over production, environmental regulation, EV adoption and public opinion.  Not good, if you’re in the industry.  Good, however, for people with lungs.