Climate activism is making Big Oil bigger. But it's not all bad news for the energy transition

Contributing sentiments towards policy:

57% : They are looking to lower overall carbon emissions through regulatory measures while also encouraging investment through large-scale subsidies, such as the Inflation Reduction Act in the U.S.
54% : In addition, recent transaction activity has seen oil and gas players switch the mix of fossil fuels-reducing heavy oil production and increasing natural gas production-or diversify away from fossil fuels and gain a stronger footing in other areas, including renewables, critical minerals, and other low-carbon solutions.
54% : Meanwhile, the EU is making progress through the Carbon Board Adjustment Mechanism which will set the template for assessing tariffs on goods based on the carbon intensity of manufacturing.
51% : The additional capital efficiency will also free investment funds for the oil and gas companies to decarbonize their operations and products through the deployment of alternative energy technologies.
49% : The U.S. and EU have prioritized regulatory efficiencies and subsidies.
48% : As a result, despite global economic uncertainties, rising geopolitical tensions, intensifying climate change concerns, and a strengthened plan for phasing out fossil fuels, oil and gas M&A comprised 11.6% of deals announced across sectors in 2023.

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