Given its high emissions intensity and dominant role in the global energy mix, the oil and gas (O&G) sector has a central part to play in the transition to the low carbon economy; abbreviated here to 2CT. However, whether it has any lasting role in this economy is far from clear. For a sector whose business is the production, transformation and sale of hydrocarbons, we see three possible responses to the 2CT: adaption, disruption or managed decline.
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