14 Mar '17, 12am

How and why oil companies' energy outlooks give a misleading picture of the future

How and why oil companies' energy outlooks give a misleading picture of the future

Forecasting Failure: Why Investors Should Treat Oil Company Energy Forecasts With Caution Oil Change International, Greenpeace March 2017 Download Report Companies like ExxonMobil, Shell and BP routinely use their in-house energy forecasts to justify investments in multi-decade, high-cost projects, from the Arctic to the tar sands. While the companies present their published forecasts as objective analyses, the forecasts rather reflect the future they want us to believe in. This report: reveals the poor track record of oil company forecasting; exposes the unlikely assumptions built into the forecasts; and examines the consequences of these forecasts for investments and for climate change. It finds that the companies are highly vulnerable to disruption by clean energy technologies, and that their forecasts are playing an unhelpful role in the climate debate. The report incl...

Full article: http://priceofoil.org/2017/03/13/forecasting-failure-report/

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