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The history of tobacco has been repeated with the oil industry
Opinion
Europe Markets
Adi Imsirovic
London
21 December 2023
Follow @PetroleumEcon
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Letter from Europe: Tobacco offers warning for oil

Moving on from burning fossil fuels for energy will not be easy, but it is ultimately a habit the world will need to kick

In some ways it may be churlish to draw parallels between the tobacco industry and the oil sector. After all, oil was one of the wonders of the 20th century. It is probably the most useful resource that we have ever discovered. The energy that oil contains, the ease with which it can be transported and its versatility are astonishing. But the plight of the tobacco industry offers an important lesson for oil industry executives: whataboutery and a strong PR campaign only go so far. Making good on the pledges at COP28 will be the oil industry’s moment of truth. The tobacco industry knew smoking was detrimental to human health from the early 1950s. As the scientific knowledge improved, the bigg

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