Shell Says Oil Production Will Fall Every Year, Forever : worldnews

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The iconic oil giant Royal Dutch Shell announced Thursday that, when it comes to oil production, its best years are behind it.

The company expects its oil production to drop by one to two percent every year from here on out, according to CNN, as part of the company’s push to transition toward cleaner sources of energy.

Despite its climate action plan, Shell still plans to invest roughly $8 billion per year in new oil rigs, according to CNN – so it’s not clear exactly when we’ll start to see any environmental dividends from the company’s anticipated trajectory.


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