For the last century, the biggest, most powerful companies in the global energy market have been oil and gas producers. Slowly, though, the global race to avert climate change has been upsetting that hierarchy. And in 2020, aided by the devastating blow dealt to oil demand by the pandemic, a cohort of clean energy companies finally shouldered aside Big Oil and rose to the top of the financial heap.
The era of Big Renewables—electric utilities and traditional oil and gas majors that have shifted their portfolios out of fossil fuels and toward renewables—is here. How long they’ll stay on top depends on what happens during the post-pandemic economic recovery. . Read More