Unum
2024-08-07 18:24:09 UTC
https://www.telegraph.co.uk/business/2024/07/30/bp-oil-refinery-net-zero-fossil-fuels/
Oil refineries across Europe will be forced to shut as the West abandons
fossil fuels in the race to net zero, the boss of BP has said.
Murray Auchincloss said that older and smaller refineries will close or
convert to biofuels as traditional oil refining is rendered unprofitable by a
combination of surging fuel taxes and falling demand from drivers forced to go
electric.
Mr Auchincloss said: “As the world transitions to electrification of the car
fleet, and electrification or hydrogenation of the trucking fleet, there’ll be
less need for diesel and gasoline.
“So I would expect the least efficient refineries, which are the smallest,
oldest around the world, to gradually close down as the world transitions
over the next 10 to 30 years.”
Oil refineries across Europe will be forced to shut as the West abandons
fossil fuels in the race to net zero, the boss of BP has said.
Murray Auchincloss said that older and smaller refineries will close or
convert to biofuels as traditional oil refining is rendered unprofitable by a
combination of surging fuel taxes and falling demand from drivers forced to go
electric.
Mr Auchincloss said: “As the world transitions to electrification of the car
fleet, and electrification or hydrogenation of the trucking fleet, there’ll be
less need for diesel and gasoline.
“So I would expect the least efficient refineries, which are the smallest,
oldest around the world, to gradually close down as the world transitions
over the next 10 to 30 years.”