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Fossilised Capital: Price and Profit in the Energy Transition

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  • Brett Christophers

Abstract

Getting renewable energies to a position of price competitiveness with fossil fuels has long been seen as a key challenge to the counter-carbon energy transition. Less discussed, but more significant to future investment trajectories in the capitalist global economy, is the relative profitability of fossil-fuel and renewable-energy production. Having recently pledged over the next few decades to decrease hydrocarbon production and increase renewable-energy generation, Europe's three oil and gas majors – BP, Shell and Total – now institutionally straddle the two energy worlds and their respective economic dynamics. This article takes stock of the companies’ announcements and of the existing investment and profit landscape to assess the prospects for their own corporate energy transitions and thus for the global energy transition more broadly.

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  • Brett Christophers, 2022. "Fossilised Capital: Price and Profit in the Energy Transition," New Political Economy, Taylor & Francis Journals, vol. 27(1), pages 146-159, January.
    • Handle: RePEc:taf:cnpexx:v:27:y:2022:i:1:p:146-159
    DOI: 10.1080/13563467.2021.1926957
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    Cited by:

    1. Kayani, Umar Nawaz & Hassan, M. Kabir & Moussa, Faten & Hossain, Gazi Farid, 2023. "Oil in crisis: What can we learn," The Journal of Economic Asymmetries, Elsevier, vol. 28(C).
    2. Ferguson-Cradler, Gregory, 2022. "Corporate strategy in the Anthropocene: German electricity utilities and the nuclear sudden stop," Ecological Economics, Elsevier, vol. 195(C).
    3. Ergen, Timur & Schmitz, Luuk, 2023. "The sunshine problem: Climate change and managed decline in the European Union," MPIfG Discussion Paper 23/6, Max Planck Institute for the Study of Societies.
    4. Hickel, Jason & Sullivan, Dylan, 2024. "How much growth is required to achieve good lives for all? Insights from needs-based analysis," World Development Perspectives, Elsevier, vol. 35(C).
    5. Fredrik von Malmborg, 2024. "Tapping the Conversation on the Meaning of Decarbonization: Discourses and Discursive Agency in EU Politics on Low-Carbon Fuels for Maritime Shipping," Sustainability, MDPI, vol. 16(13), pages 1-36, June.
    6. Sahat Simbolon & Dwi Maria Simbolon, 2024. "Sustainable Workforce in a Green Era: Indonesia’s Energy Sector Transition," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 702-710, May.
    7. Hickel, Jason & Sullivan, Dylan, 2024. "How much growth is required to achieve good lives for all? Insights from needs-based analysis," LSE Research Online Documents on Economics 124460, London School of Economics and Political Science, LSE Library.
    8. Faber, Hugo, 2023. "How does falling incumbent profitability affect energy policy discourse? The discursive construction of nuclear phaseouts and insufficient capacity as a threat in Sweden," Energy Policy, Elsevier, vol. 174(C).

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