The end of the oil era has been predicted for so long that it has ceased to attract much interest. Critics rightly say it’s now difficult to know who to believe. Were not forecasters urging governments to go green not so long ago, because we had reached “peak oil” and the world was running out of crude? And yet now we are awash with the stuff, hence the collapse in oil prices. But it still gives observers pause for thought when someone of the stature of Professor Paul Stephens, oil expert at Chatham House, states baldly that Shell, BP et al have 10 years to adapt or die, as he did last week. Although he is seen as close to the industry, he nevertheless believes Big Oil should diversify into renewables, perform mega-mergers or slim down to cope with a brave new world where oil demand will fall, carbon […]