The timing is almost certainly coincidental. Nevertheless, Shell’s decision to hoist the “for sale” sign over shale assets in the Texas Permian basin just a fortnight after a landmark court ruling on carbon emissions offers a glimpse of a brave new world for shareholders. The oil giant piled into the region a decade ago as the US shale revolution took off with a bang. The Permian basin is the largest single oil field in the mainland States. It was the epicentre of a 21st-century boom that turned global oil markets on their head, transforming US energy security, creating hundreds of thousands of blue-collar jobs and threatening Opec’s stranglehold on production for the first time in history.
Telegraph 14th June 2021 read more »
Times 15th June 2021 read more »