These Oil Giants Won’t Become Dinosaurs as the World Pivots Away From Fossil Fuels

Oil and gas are vital fuel sources for the global economy. In 2018, they combined to supply 57% of the worldwide energy mix, according to BP's Statistical Review of World Energy. Add in coal at another 27%, and fossil fuels provide the lion's share of the world's energy needs.

Unfortunately, they're also major contributors to climate change, which is why the world's economies are investing trillions of dollars in switching over to renewables. That accelerating transition is forcing oil companies to seek ways to reduce their carbon footprints so that they're part of the solution and not just contributing to the problem. Two of the oil giants leading the way are Total (NYSE: TOT) and Occidental Petroleum (NYSE: OXY).

Image source: Getty Images.

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