“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

BP said oil demand will never exceed 2019 level

While many officials, agencies and governments believe oil is only going through a rough patch and will quickly return to pre-pandemic levels, BP is throwing a stone in the pond by announcing the beginning of the end for fossil fuel. 

BP said oil demand will never exceed 2019 level

In a study published on September 14, UK oil giant BP said the relentless growth in demand for oil is over.

“Oil consumption may never return to levels seen before the coronavirus crisis,” the document read, which adds that as the energy transition moves the world away from fossil fuels, the sector can be satisfied. demand that will remain broadly stable over the next two decades. This, according to the most optimistic scenario of the company's analysts.

According to BP's energy outlook, consumption is expected to fall by 50% by 2050 in one scenario, and by nearly 80% in another. However, this outlook also points to a status quo situation, whereby demand will recover, but remain stable at nearly 100 million barrels per day for the next 20 years.

BP thus breaks with the orthodoxy in the middle and becomes the first big actor of the sector to evoke the end of the fuel. Indeed, from the bosses of energy giants to ministers in OPEC countries, industry leaders have insisted that the consumption of black gold will see decades of growth. Time and time again, they have described it as the only commodity that can meet the demands of a growing world population and a growing middle class. 

This allows for a better understanding of the latest company policies, in order to better align with the conclusions of the Paris climate agreement. Last August, its CEO, Bernard Looney announced a 40% reduction in oil and gas production over the next decade, but also $ 5 billion per year to create one of the biggest players in the world. renewable energies in the world.

A group movement of the largest companies in the sector is currently being born to produce more environmentally friendly energies, in the face of pressure from governments and investors.